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Fundsmith appoints FundRock for distribution services

10 October 2022

FundRock Management Company, a leading European third-party UCITS Management Company (“ManCo”) and Alternative Investment Fund Manager (“AIFM”), today announces the expansion of its relationship with leading fund management company Fundsmith, to now include distribution services.

FundRock enables clients to streamline their operations in a cost-effective manner by offering third-party ManCo and fund distribution services under one roof, complemented by a wide range of fund administration, middle office, banking, depositary and custody services delivered through parent company Apex Group.

In addition to existing ManCo services, FundRock Distribution S.A. will now provide distribution services, enabling Fundsmith to distribute its funds in Europe. FundRock Distribution will provide specific resources and support to Fundsmith in the Italian market.

FundRock Distribution’s proximity to clients’ key marketing and distribution markets, delivers significant time, resource and cost benefits through an established network of more than 200 experts in key jurisdictions including Luxembourg, United Kingdom, Ireland, Netherlands, France, Abu Dhabi and Singapore.

This is the latest new business win for FundRock Distribution which has also been appointed by leading asset managers including Royal London Asset Management. FundRock Distribution recently announced the launch of a new office in Amsterdam, supplementing the firm’s existing multinational team which speaks over 20 languages and is well-placed to support asset managers across borders with local market insight and global connectivity.

Arnaud GÉRARD, CFA, Head of Distribution at FundRock comments: “FundRock Distribution offers a powerful solution for asset managers, providing local substance combined with global connectivity, enabling our clients to focus on their core business. We look forward to supporting Fundsmith to distribute their funds more efficiently and effectively into European markets, while ensuring the highest standards of governance and regulatory compliance.”

Mark Laurence, COO at Fundsmith commented: “We are delighted to extend our existing relationship with FundRock to help manage our post Brexit EU distribution. In particular it will allow us to target the Italian market through the services of incoming FundRock Sales Director, Giuseppe Bellavia, who joins from Allianz Global Life.”

About FundRock

FundRock Management Company is a leading independent UCITS management company and AIFM investment fund manager. It is a subsidiary of Apex Group.

As of June 31, 2021, FundRock oversees more than 470 funds with a total of €119 billion in assets under management. The FundRock group has more than 170 employees in eight countries including Luxembourg, United Kingdom, Ireland, France, Abu Dhabi and Singapore.

https://www.fundrock.com/

About Fundsmith

Fundsmith is focused on delivering superior investment performance at a reasonable cost. It was established to be different from its peers so as to achieve a different result in line with Sir John Templeton’s axiom that “If you want to have a better performance than the crowd, you must do things differently from the crowd.” The rigorous research process of Fundsmith is central to what we do. We apply exacting standards to potential investments to produce a portfolio of resilient businesses with excellent performance. Minimising the costs we incur on behalf of our customers in implementing our strategy also sits at the heart of our philosophy.

Fundsmith was established in 2010 by Terry Smith. The business is owned and controlled by its partners, who have worked closely together over many years, and is headquartered in London with offices in Mauritius and Connecticut, USA. It is structured to survive Terry Smith’s demise and continue with the same investment philosophy. All partners of the firm have a significant coinvestment in our Funds delivering a clear alignment of interest. Ancillary activities are outsourced to some of the world's leading providers in order to deliver high quality operations whilst allowing the Fundsmith team to focus on the investment analysis and portfolio management and customer care.

www.fundsmith.co.uk

Press contact:

Antonia Powell Antonia.powell@apexfs.com | +44 (0)77 8990 2279

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