Unicorn’s McClure doubles UK Income assets

The fund, run by John McClure, ranks top in the 96-fund IMA UK Equity Income sector in terms of its performance in the one, three and five-year periods to January 4. The fund had £55m under management in September last year but by last week it had rocketed to £93m of assets.

The boost comes after Unicorn signed up with LGBR Capital, a fund distribution firm that was launched in October last year following a management buyout by staff from Matrix Asset Management.

Luke Reeves, Glenn Hamilton, Ben Fox and Richard Jones were all previously employed by the asset management division of Matrix Group, which was placed under administration in November 2012.

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The sales team are all now partners at LGBR and have brought in six other former Matrix colleagues to the firm.

The partner added that it was focusing on selling to large financial adviser firms and discretionary fund managers under its arrangement with Unicorn, but that the firm also distributes funds to institutional clients.

“The growth in Mr McClure’s fund has also been down to its performance and before now they had one person on distribution as opposed to our team of 10,” Mr Fox said.