Terry Smith's knockout payday caps journey from East End underdog to City champ In just over a decade since the Square Mile boss launched his 'Ryanair of asset management' flagship fund it has become Britain’s largest 14 April 2021 • 6:00am Terry Smith, one of Britain's best-known fund managers, has bagged a bumper payday of up to £125m after a record profit at his investment firm. The entrepreneur's business Fundsmith generated profits of £48.5m in the year to March 2020, up from £26.4m the year before - entitling the fund manager to £29.7m, a 61pc share. Ballooning payments from the British business to its Mauritius outpost mean that Smith, a resident of the Indian Ocean island, could have received a far higher figure even than this. Mauritius-based Fundsmith Investment Services Limited charged the business £158m during the year, up from £116m over the previous 12 months.