Terry Smith lands £36m payout despite turbulent year for Fundsmith Equity

Fundsmith LLP profits rose to £58.2m

Star stockpicker Terry Smith received a record £36m payout last year despite a turbulent 12 months for the performance of his flagship Fundsmith Equity fund.

Smith's business, Fundsmith LLP, produced a profit of £58.2m for the fiscal year that ended in March 2022, a modest rise from the £57.7m realised the prior year, according to accounts posted on Companies House. Under the company's profit-sharing arrangements, the member with the largest entitlement, who is thought to be Smith, received a £36.5m profit share, an increase from the £35.7m given out in 2021. Fundsmith LLP, which oversees investments in London, Delaware, and Luxembourg, paid £251.7m in fees to Fundsmith Investment Services, a business based in Mauritius, where Smith reside...