Fundsmith Completes Formation of Analyst Team Ahead of New Fund Launch

by Fundsmith | Mar 13, 2014
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Fundsmith, the fund management company founded by Terry Smith in 2010, has announced the appointment of Sandip Patodia as an equity research analyst, alongside Michael O’Brien, Jonathan Imlah and Tom Boles who joined in 2013. The new equity research team will work for Fundsmith’s new fund, Fundsmith Emerging Equities Trust PLC (“FEET”), which will be launched later this year.  

FEET will be an investment trust and will invest in companies that have the same characteristics as the Fundsmith Equity Fund but are mostly headquartered and listed in emerging markets.

Sandip Patodia joins from Morgan Stanley, where he had been a Vice-President within the UK Investment Bank from 2009 to 2013, providing corporate finance advice to UK listed companies on all aspects of their interaction with the equity markets. From 2005 to 2009, he qualified as a Chartered Accountant and worked as an M&A adviser at Ernst & Young. Sandip obtained a scholarship to Aston University and holds a first class honours degree in Electronics and Computer Science.

Michael O’Brien joined from Canaccord Genuity (formerly Collins Stewart) where he spent more than a decade as an analyst covering a wide range of sectors and geographies. He was instrumental in the development of the company’s research product and institutional franchise.  Michael began his career at Guinness Flight Global Asset Management (subsequently Investec Asset Management) in 1994 as an analyst before taking responsibility for the group’s UK Small and Emerging Companies Funds in 1997, and subsequently the Recovery Fund. Michael holds an MPhil from Cambridge University.

Jonathan Imlah also joined from Canaccord Genuity, where he had been a senior technology analyst since 2010. He was previously at Altium Securities where he covered technology for 6 years, latterly becoming the Head of Research. Prior to Altium, he worked at Dresdner Kleinwort covering emerging markets equity research and subsequently pan-European IT services in the large cap technology team. Jonathan was Techmark analyst of the year in 2007 and was number 1 or 2 in his sector in the FT Starmine survey between 2006 and 2010. Prior to taking up a career as an analyst, Jonathan wrote country investment reports covering Mexico, Brazil, Peru, Guatemala, India, Russia, Hungary and Zimbabwe. Jonathan has an MBA from INSEAD and is a fluent Spanish speaker.

Tom Boles joined having completed an MSc in Economics and Finance from the University of Bristol with distinction in 2012, where his dissertation was on Persistence of Performance in the Mutual Fund Management Industry. He completed a BSc in Economics in 2011, also at Bristol University, having conducted work experience at Odey Asset Management and Neptune Investment Management. He is an Investment Management Certificate (IMC) holder and a Level 1 CFA exam holder.

Commenting on the new appointments, Fundsmith’s Chief Executive Terry Smith said:

“We have identified an investible universe of some 150 stocks for the Fundsmith Emerging Equities Trust. Extensive, detailed research is one of the cornerstones of Fundsmith and the addition of Michael, Jonathan, Sandip and Tom adds further talent to the team.”