Tullett Prebon’s CEO to stand down

Tullett Prebon’s CEO to stand down

Tullett Prebon’s CEO, Terry Smith, intends to stand down from his position.

He will focus on asset management firm, Fundsmith, which he founded in 2010.

The Fundsmith equity fund reached £2bn ($3.35bn) in assets under management in May, having delivered an annualised return of 16.1% per annum and a total return of 70.7% (T Class Accumulation Shares) since inception to May 30 2014.

The fund outperformed the MSCI World Index by 26% and the average IMA Global equity fund by 38%.

Fundsmith is also planning to launch the Fundsmith Emerging Equities Trust in June.

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