Northern Trust Appointed by Fundsmith
May 16, 2019
Northern Trust Bank Building, Chicago, IL (Photo thanks to Flickr user Zol87, available under by-sa v2.0)

Northern Trust says it has been appointed by UK investment manager Fundsmith to provide fund administration, depositary, global custody and associated services to support Smithson Investment Trust, the largest UK-listed investment trust ever launched. The fund raised a record £822 million at flotation in October last year (according to Financial Times, 17 October, 2018).

Across its fund range Fundsmith is also using Integrated Trading Solutions – Northern Trust's outsourced trading capability that combines worldwide trading expertise in equities and fixed income with access to global markets, extensive trading locations, high quality liquidity and an integrated middle and back office service. 

Simon Godwin, Chief Financial Officer at Fundsmith, comments: "Appointing Northern Trust means we have an asset servicing partner with the global capabilities, scale and track record required to support Smithson Investment Trust's operations and future growth. In addition, outsourcing trading activities across our funds to a trusted and expert provider supports Fundsmith's focus on delivering first-class investment analysis, portfolio management and customer care."

Smithson Investment Trust invests in companies of between £500 million and £15 billion in market capitalization, using the company's hallmark long-term, value investing approach. The fund's launch, which was supported by Northern Trust, surpassed its founders' initial expectations – with shares available on launch being raised to accommodate investor demand.

Fundsmith was established in 2010 by veteran City investor, Terry Smith. Headquartered in London, it has more than £22 billion in assets under management (as at March 31 2019) on behalf of global institutions and investors, and is owned and controlled by its partners. Its investment approach is centred on generating value for clients at reasonable cost by investing in quality global stocks, held for long time horizons.





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Northern Trust says it has been appointed by UK investment manager Fundsmith to provide fund administration, depositary, global custody and associated services to support Smithson Investment Trust, the largest UK-listed investment trust ever launched. The fund raised a record £822 million at flotation in October last year (according to Financial Times, 17 October, 2018).

Across its fund range Fundsmith is also using Integrated Trading Solutions – Northern Trust's outsourced trading capability that combines worldwide trading expertise in equities and fixed income with access to global markets, extensive trading locations, high quality liquidity and an integrated middle and back office service. 

Simon Godwin, Chief Financial Officer at Fundsmith, comments: "Appointing Northern Trust means we have an asset servicing partner with the global capabilities, scale and track record required to support Smithson Investment Trust's operations and future growth. In addition, outsourcing trading activities across our funds to a trusted and expert provider supports Fundsmith's focus on delivering first-class investment analysis, portfolio management and customer care."

Smithson Investment Trust invests in companies of between £500 million and £15 billion in market capitalization, using the company's hallmark long-term, value investing approach. The fund's launch, which was supported by Northern Trust, surpassed its founders' initial expectations – with shares available on launch being raised to accommodate investor demand.

Fundsmith was established in 2010 by veteran City investor, Terry Smith. Headquartered in London, it has more than £22 billion in assets under management (as at March 31 2019) on behalf of global institutions and investors, and is owned and controlled by its partners. Its investment approach is centred on generating value for clients at reasonable cost by investing in quality global stocks, held for long time horizons.



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