Fund Objective

To provide steady capital growth.

View on Past Performance

September was an awful month for equity markets as the global financial crisis intensified. The FTSE AllShare Index fell by over 13% as shares in the banking sector came under sustained pressure and falls in commodity prices drove the oil & gas and mining sectors sharply lower. There is now a growing recognition that the UK economy is heading for a painful period of recession and that the Government is essentially powerless to prevent it.The Unicorn Free Spirit Fund, clearly not immune from wider market turmoil fell by 14.4% with the majority of holdings being marked down in line with the Index. A number of partial disposals were made at the start of the month in order to raise the level of cash held. New positions were initiated in KBC Advanced Technologies, a consultant to the oil refining industry and Manpower Software, a specialist provider of workforce optimisation software predominantly to the NHS.

Fund Details