Unicorn Asset Management, an independently owned fund management business specialising in small and mid-cap companies, has marked Fraser Mackersie’s tenth year managing the Unicorn UK Growth Fund. Fraser was appointed manager of the Fund in February 2011 and, over the following ten years, the Fund has delivered a total return of +196.7%, significantly outperforming the average total return of +85.8% from the IA UK All Companies sector.
Fraser has consistently adopted a high quality, genuine growth approach by investing over the long-term in innovative disruptors that have the potential to become the great companies of tomorrow. An example of this approach can be seen in Frontier Developments, a top ten holding in the Fund. Fraser first supported Frontier Developments in 2014, a year after its AIM listing. This investment has since delivered annualised returns of +48%.
The Unicorn UK Growth Fund’s concentrated portfolio, of no more than fifty holdings, features profitable, high margin, cash generative companies across the market cap range. The Fund has established an impressive ten-year track record, with net assets having grown from c. £6 million in early 2010 to £106 million as at 28 February 2020.
Fraser now manages the Fund alongside Alex Game who was appointed Co-Manager earlier this year, having served as Assistant Manager since 2018.
Fraser Mackersie, Co-Manager of Unicorn UK Growth Fund commented; “We are very happy to have delivered strong performance for investors in the Fund over the last ten years. The market beating returns support our view that there are fantastic growth opportunities for investors in UK businesses. Great Britain remains a highly innovative, entrepreneurial nation with a skilled workforce, and is home to an increasing number of genuinely world leading companies, both large and small. Despite the challenges posed by the current global pandemic, we believe that the UK continues to offer great opportunities for long term investors in exciting growth companies. Alex and I look forward to generating further strong returns for our investors over the next ten years.”