Unicorn Asset Management has promoted two members of its investment team to co-manage its flagship £534m Unicorn UK Income fund.
Fraser Mackersie and Simon Moon have been named as co-managers of the fund alongside the firm’s co-founder and senior fund manager John McClure.
As part of the re-shuffle they will also now run the group's Acorn Income fund with McClure (pictured).
The duo already run a number of the group's other mandates, and Mackersie will continue to manage the £23m Unicorn Free Spirit fund, while Moon will oversee the £49m UK Smaller Companies fund.
McClure said: “Unicorn has a philosophy of nurturing and developing home grown talent. Fraser and Simon's promotion to co-managers of the Unicorn UK Income and the Acorn Income funds is in recognition of their work and instrumental contribution to the success of Unicorn.”
Both managers have been members of the Unicorn investment team since joining the firm in 2008.
The Unicorn UK Income fund is the top performer in the IMA UK Equity Income sector over the last three and five years, returning 78.1% over the last three years to 9 January 2014, compared to a UK Equity Income average of 35.7% (according to FE).
The Acorn Income Fund has also performed well over the last three years, returning 149.2%, compared to a UK High Income sector average of 59%, according to FE.
According to Unicorn's fact sheet, in the three years to December 2013, Mackersie's Free Spirit fund saw returns of 77%, compared to a sector average of 40.3%. Unicorn UK Smaller Companies also enjoyed above-average returns.