Tributes have been pouring in for Unicorn Asset Management’s fund management star John McClure, whose death was announced this morning.
Mr McClure, who turned 50 this year, managed the group’s flagship £716m Unicorn UK Income fund which returned 264.3 per cent in the past 10 years - double the FTSE All Share index total return of 132.8 per cent over the period, according to FE.
His death has been confirmed by Unicorn.
Paul Surguy, head of managed funds at Sanlam Private Investments, was a major backer of the fund manager.
“We do invest in the fund and it has been on the White List for some time,” he said.
“I liked John as an investor and personally. He didn’t fit the traditional mould of fund manager, I’m not even sure if he owned a tie.
“However, I suspect a few company managers and sell side sales guys might have felt rather intimidated by his experience and direct approach, exactly the kind of person I want running client money.”
Financial adviser Simon West, managing director at Hulbert West Financial Advisers, said the firm had followed Mr McClure and invested clients with him for several years.
“It is very sad. In my mind he was one of the standout UK equity investors over the last five years,” he said.
Colin Howell, chairman of Unicorn, said the news had caused “great sadness”.
“John was an intelligent investor, a committed and dedicated member of our team and a very good friend,” Mr Howell said.
“We will all miss him dearly and our thoughts are with his family at this sad time.”
Paul Harwood, Unicorn’s investment committee chairman, said the company used a team based approach to investing.
“We all believe this is a key reason behind our funds’ consistent outperformance. Unicorn’s team consists of five investment professionals, with more than 100 years’ of combined experience.
“The team continues to be responsible for overseeing the management of all our funds. Both Simon Moon and Fraser Mackersie have worked closely with John on these funds, sharing in his expertise, since 2008.”
