Fundsmith focuses on simple process

Group's founder Terry Smith explains his focus on simplicity, the problem with commodities, and the wider impact of RDR

Fundsmith now has £76m under management. Is this in line with what you were hoping for? I was not particularly hoping for anything – we did not have a target in mind. We just thought we would launch the fund. We have not done any advertising at all, and we may or may not do some in the future. We launched the funds to see how much money we could attract by word of mouth, and so far that has worked pretty well. What do you think has attracted investors to your products? I think it is the simplicity of it – the fact it seems to be very straightforward. People I have talked to say they d...