Travers Smith LLP has advised Fundsmith, the London-based investment manager, on the c.£680m rollover of assets from Smithson Investment Trust into Smithson Equity Fund ("SEF").
SEF was established as a UK open-ended investment company to offer investors in Smithson Investment Trust the opportunity to roll their investment into an open-ended vehicle. SEF will be managed by Fundsmith, with Simon Barnard as lead portfolio manager, continuing the Smithson investment strategy of long-term investing in small and mid-sized listed or traded companies globally to deliver long term capital growth.
The Travers Smith team was led by Head of Transactions Aaron Stocks, supported on the rollover transaction by senior counsel Stuart MacKenzie and associate Alex Wood.
Financial Services and Markets partner Nick Glynn led on the establishment of SEF, supported by consultant Jane Thornton and associate Oliver Smith.