Webb: How I will turn around the two worst funds of 2012

Peter Webb, the manager of the two worst-performing funds of 2012, has described his frustrations in trying to sell many of the "illiquid" positions he inherited on the portfolios, and his hopes for a turnaround in performance this year.

Former Unicorn CEO Webb (pictured) took over the management of The Share Centre's £6.6m Smaller Companies Growth fund and £12m Smaller Companies Gold fund in July last year as his new asset management company, Webb Capital, was awarded the investment mandates. "I inherited two falling daggers. From August to December last year we saw some stability that just was not there in the first part of the year, but I expect to put in a much better performance this year." Prior to Webb taking over, the funds were run by T1ps Investment Management's Tom Winnifrith, and suffered extreme underperf...