Fundsmith LLP, the London-based fund management company established by Terry Smith in 2010, has appointed State Street PARA_BREAK_SENTINEL_9f8e7d6c

Fundsmith LLP, the London-based fund management company established by Terry Smith in 2010, has appointed State Street Corporation to provide fund administration, custody and shareholder services for its new UCITS IV SICAV feeder fund in Luxembourg it was announced this week. State Street, one of the world’s leading providers of financial services to institutional investors, has provided the Fundsmith Equity Fund OEIC with depositary, custody, fund accounting and portfolio trade execution solutions since it launched in November 2010. Steve Smit (pictured), head of State Street’s Global Services and Global Markets businesses in the UK, Middle East and Africa said the firm was honoured that Fundsmith had chosen to extend its relationship with State Street with the new feeder fund. “UCITS IV clarifies the rules for cross-border fund mergers and we believe, as a pan-European administrator, that State Street can help asset managers address the complexity and cost of managing master feeders and pooling,” said Smit. Simon Godwin, chief financial officer at Fundsmith said that by extending the relationship Fundsmith had gained the benefits of “significant operational and cost efficiencies”. He said: “Given the novelty of the SICAV feeder fund structure, the ability of our partner to address our needs and support