Unicorn UK Growth B Inc
UK Smaller Companies
Rated Fund 2018-20. Nimble fund with a technology focus
This fund has been placed on ‘performance watch’ (24 April 2020). For further details see here.
Fraser Mackersie has run Unicorn UK Growth since 2011, when it was just £6 million in size. It has since grown to £61 million, but it remains a nimble fund that is unlikely to become too big, as Unicorn Asset Management lacks the marketing budget to make it a larger fund. Its size is a plus point for investors because it suits the manager’s clearly de ned strategy of identifying innovative companies with exposure to longterm structural growth trends such as the rise of technology, where it has one-fifth of assets.
Mackersie and his assistant, Alex Game, can invest in firms of any size, but their strategy often focuses down the market capitalisation scale where they find attractively priced growth opportunities. The fund’s modest size means smaller company holdings can make meaningful contributions to performance early on. It is this bias that has led us to move the fund from the UK Growth to the UK Smaller Companies asset group for 2020.
The fund’s return over three years has been more than double the average in the UK all companies sector over the period. It slipped down the performance league in 2018, but we retained our conviction in an investment process that seeks to identify firms capable of delivering multi-year, sustainable profits growth.
This prevents the managers from investing in early-stage, blue-sky businesses that are, typically, loss-making and cash-consumptive. The portfolio is comprised of 38 companies with proven business models.
Narrative and ratings content all as of January 2020.See all Money Observer rated funds
|Frontier Developments PLC||4.93 %|
|Codemasters Group Holdings PLC||4.78 %|
|Alpha FX Group PLC||4.20 %|
|Telecom Plus PLC||3.99 %|
|Iomart Group PLC||3.90 %|
|Breedon Group PLC||3.79 %|
|Restore PLC||3.73 %|
|Eckoh PLC||3.35 %|
|B&M European Value Retail SA||3.27 %|
|Macfarlane Group PLC||3.15 %|
|United Kingdom||97.15 %|
|Communication Services||14.71 %|
|Consumer Cyclical||12.95 %|
|Financial Services||10.26 %|
|Consumer Defensive||7.49 %|
|Basic materials||7.30 %|
Data provided by Morningstar.
The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Money Observer and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.
This information is sourced from our partner Morningstar. We believe the data to be correct however you should take care in using any information.
You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.