Fundsmith is focused on delivering superior investment performance at a reasonable cost. It was established to be different from its peers so as to achieve a different result in line with Sir John Templeton?s axiom that ?If you want to have a better performance than the crowd, you must do things differently from the crowd.? The rigorous research process of Fundsmith is central to what we do. We apply exacting standards to potential investments to produce a portfolio of resilient businesses with excellent performance. Minimising the costs we incur on behalf of our customers in implementing our strategy also sits at the heart of our philosophy.Fundsmith was established in 2010 by Terry Smith. The business is owned and controlled by its partners, who have worked closely together over many years, and is headquartered in London with an office in Connecticut, USA. It is structured to survive Terry Smith?s demise and continue with the same investment philosophy. All partners of the firm have a significant co-investent in our Funds delivering a clear alignment of interest. Ancillary activities are outsourced to some of the world's leading providers in order to deliver high-quality operations whilst allowing the Fundsmith team to focus on investment analysis, portfolio management and customer care. As at 31st December 2016 we managed ?10bn on behalf of some of the world?s largest and most sophisticated wealth managers and private banks as well as for prominent families, charities, endowments and individuals invested in our fund range; Fundsmith Equity Fund (UK OEIC), Fundsmith Equity Fund Feeder (Luxembourg SICAV), Fundsmith Equity Fund L.P. (Delaware L.P.) and the Fundsmith Emerging Equities Trust plc (London Stock Exchange Listed Investment Trust).