Unicorn Asset Management founder and CEO Peter Webb has resigned from the firm effective immediately.
Webb was the named manager on four funds: Unicorn UK Smaller Companies, Unicorn Free Spirit, Unicorn Outstanding British Companies, and Unicorn UK Income. The funds will be run by the team that backed Webb, including John McClure, Sam Barton, and Chris Hutchinson.
Unicorn as a firm has struggled to deliver competitive performance. UK Smaller Companies, Free Spirit, t/snapshot.aspx?id=F0GBR06IV1">Master Trust
, and UK Income all rank in the bottom third of their respective Morningstar categories over the past three years. The two funds with five-year records, UK Smaller Companies and Free Spirit, both rank in the bottom 20% of their Morningstar categories over that period. The funds had accordingly failed to gain traction with investors, with the largest standing at just £12.4 million in assets at last count.
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