Terry Smith raises stake in Fundsmith Equity fund by £115m

Criticises lack of manager ownership transparency

Terry Smith is understood to have more than doubled his stake in the £8.5bn Fundsmith Equity fund, bringing his total investment in the group's products to approximately £200m.

The manager has added an additional £115m to his fund after selling his stake in inter-dealer broker Tullett Prebon; the FTSE 250 firm he ran until August 2014. Smith first invested £25m of his own money in the Equity fund when he launched Fundsmith in 2010, and said the group will always be the main vehicle for his own investments. He also runs the £218m Emerging Equities trust, launched by Fundsmith in June 2014. Fundsmith's Terry Smith sues Barclays for £220,000 Earlier this week, a survey by Morningstar for the Financial Times revealed half of 15,000 US mutual funds are run by ...