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 2023.
Organisation structure and supply chains
Fundsmith is a London headquartered fund management company authorised and regulated by the UK 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’s suppliers and service providers include other financial service firms, lawyers, accountants, auditors, information technology specialists, as well office maintenance and equipment providers most of which are based in the United Kingdom.
Policies in relation to slavery and human trafficking
Fundsmith has adopted a suite of policies which complement this statement, focussing both on its service providers, as well as the dignity and respect with which it affords its employees. The policy framework covers whistleblowing, recruitment and HR policies as well as the procurement and review of service providers.
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 highly regulated financial services firm with simple supply chains. Nevertheless Fundsmith exercises due skill, care and diligence when entering into contracts with service providers including requesting confirmation that providers have policies in place to prevent modern slavery. Fundsmith conducts an annual review of service providers 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 annual review of service providers, 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 program 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: 26th September 2023