22nd May 2019 14:02
LONDON (Alliance News) - Fundsmith Emerging Equities Trust PLC said Wednesday its investment manager, Fundsmith LLP, has promoted a new portfolio manager to look after Fundsmith Emerging Equities' investments.
Michael O'Brien and Sandip Patodia have been promoted to the roles of portfolio manager and assistant portfolio manager, respectively, with effect from May 31.
O'Brien and Patodia joined Fundsmith at the launch of Fundsmith Emerging Equities in 2014, forming part of the investment trust's investment management team.
Terry Smith, in his role as Fundsmith chief investment officer, will offer advice to O'Brien and Patodia.
"I am delighted that the significant role played by Michael and Sandip in the formation of the fund and its ongoing activities is being recognised. The initial success of Fundsmith's other investment trust has made me realise that my oversight as CIO, with dedicated fund managers doing the day to day work, has worked extremely well and I believe the changes we are announcing today will help deliver the long term outperformance that we seek," said Smith.
Shares in Fundsmith Emerging Equities were down 3.4% Wednesday at 1,191.00 pence each.
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