Modern Slavery Act Statement

This statement is made pursuant to section 54(1) of the Modern Slavery Act 2015 in respect of Fundsmith LLP (“Fundsmith”) for the financial year end 31 March 2024.

Organisation structure and supply chains

Fundsmith is a London headquartered fund management company authorised and regulated by the United Kingdom Financial Conduct Authority. Fundsmith is structured as a limited liability partnership and is owned and controlled by its partners. The focus of the business is on delivering superior investment performance at a reasonable cost.

Fundsmith is a service business supported by other financial and professional service firms such as legal, accounting and IT support as well as having basic office service providers. Most of Fundsmith’s service providers are based in the United Kingdom but in certain cases they do undertake an element of off-shoring.

Policies in relation to slavery and human trafficking

Fundsmith has a full-time supplier management function and suppliers are subject to formal on-boarding and annual review. In addition Fundmsith has a policy suite which covers whistleblowing, recruitment and HR policies as well as the procurement and management of suppliers.

Due diligence processes

Fundsmith has assessed the risk that modern slavery or human trafficking could manifest itself within its business or supply chain as being low. This determination is based on Fundsmith’s status as a financial services firm with predominantly domestic supply chains from providers with a low risk of modern slavery. Nevertheless, Fundsmith exercises due skill, care and diligence when entering into contracts with suppliers including requesting confirmation that providers have policies in place to prevent modern slavery. Fundsmith conducts periodic, risk-based reviews of suppliers, which includes confirmation that they remain vigilant against slavery.

Key performance indicators to measure effectiveness of steps being taken

In assessing the effectiveness of its actions, Fundsmith pays due regard to its reviews of suppliers, any concerns that have been raised and the success of employee training.

Training on modern slavery and trafficking

Modern slavery training forms part of Fundsmith's annual training programme and is applicable to all employees.
This statement has been approved by the Management Committee as the ultimate governing body of Fundsmith LLP.

Signed: Mark Laurence, Chief Operating Officer

Date: 23 September 2024