Mackersie & Moon: Simplification of Acorn Income was needed

OEIC and trust investors to benefit

Kathleen Gallagher
clock • 3 min read
Fraser Mackersie and Simon Moon run the Unicorn UK Income fund and Acorn Income equity portfolio
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Fraser Mackersie and Simon Moon run the Unicorn UK Income fund and Acorn Income equity portfolio

When it comes to the liquidation of the Acorn Income trust “it is fair to say simplification is something the trust probably needed,” according to Fraser Mackersie and Simon Moon, the fund managers of its equity portfolio.

"For a trust of this size it was quite complicated and took a bit of time for investors to get their head around what was going on," they explained in an interview with Investment Week. In fact, everyone appears to be a winner of the Acorn Income liquidation, with the discount narrowing dramatically, investors having the opportunity to invest in a similar open-ended vehicle and investors in that open-ended fund benefitting from the new assets. The Unicorn managers currently run about 75% to 80% of the Acorn trust, with the remaining 20% to 25% being a bond portfolio run by Premier As...

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