fund
Unicorn UK Growth B
A focused portfolio of UK special situation stocks with a smaller cap bias.
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682.62p
Price (Inc)
These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.
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Price (Acc)
These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?
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2.50% 0.00%
Initial chargeSome funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!
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0.75%
Annual management charge
This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).
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0.91%
Ongoing charges
This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.
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0.30%
Yield
How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…
Fund summary
| Sector | UK All Companies |
| Structure | OEIC |
| Launched | December, 2001 |
| Size | £59m |
| Yield | 0.30% |
| Charging basis | Income |
| Dividends paid | Nov |
Charges
| Standard initial charge | 2.50% |
| Initial charge via Bestinvest | 0.00% |
| Additional bid/offer spread | 0.00% |
| Annual management charge | 0.75% |
| Ongoing charges figure | 0.91% |
Allocation
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Investment process
The objective of this fund is to achieve capital growth by investing in a portfolio of what the manager perceives to be undervalued, UK listed, growth companies, which will usually be held for the longterm. This is a departure from the other mandates managed by this group, which for the most part are UK Smaller Company funds. The manager adopts what he considers a more diversified approach, although this should be considered in a relative term when compared with the very tight portfolios he also manages. The fund exploits themes identified by the manager, where he believes he can unlock value and therefore make superior returns.
Manager research
Average monthly relative returns
- 16/17 0.49%
- 17/18 0.84%
- 18/19 0.02%
- 19/20 0.80%
- 20/21 -0.33%
Bestinvest MRI
- 3 years 0.16%
- 5 years 0.36%
- Career 0.14%
- 3 years 76.40%
- 5 years 96.00%
- Career 88.90%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
Fraser Mackersie
Mackersie is a member of the Association of Chartered Certified Accountants (ACCA) having qualified in 2006. He graduated from the University of St Andrews in 2003 with a BSc (Hons) in Economics & Management. Mackersie previously held positions with F&C Asset Management plc and Geoghegan & Co Chartered Accountants, before joining Unicorn Asset Management in October 2008.
Track record
Fraser Mackersie has 9.8 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.14%. During the worst period of relative performance (from December 2011 - May 2015) there was a decline of 26% relative to the index. The worst absolute loss has been 37%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 89%.
Periods of worst performance
| Absolute | -37.00% (December 2019 - March 2020) |
| Relative | -26.00% (December 2011 - May 2015) |
About the MRI
Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.
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Top 10 holdings
Data accurate as at 31 August 2020
| 5.9575% | Alpha Fx Group Plc |
| 5.655% | Frontier Developments Plc |
| 5.309% | Codemasters Group Holdings Plc |
| 4.2273% | B & M European Value Retail Sa |
| 4.2162% | Iomart Group |
| 3.8474% | Breedon Group Plc |
| 3.7244% | Discoverie Group Plc |
| 3.3886% | Restore Plc |
| 3.3507% | Telecom Plus |
| 3.2559% | Clipper Logistics Plc |
| Source: Trustnet |
Sector breakdown
| Software | 22.00% |
| Financial Services | 11.00% |
| Leisure | 11.00% |
| Support Services | 11.00% |
| Money Market | 7.00% |
| Retailers - General | 6.00% |
| Travel | 6.00% |
| Building & Construction | 4.00% |
| Electronic & Electrical Equipment | 4.00% |
| Telecommunications | 3.00% |
Key Investor Information