Unicorn Free Spirit 'A' Nav

Unicorn Free Spirit is an unconstrained UK fund with an inconsistent record. It has had periods of stellar performance punctuated by poor spells. However, we are encouraged by steps Unicorn have taken as a company to instil a more disciplined investment process, and there has been a marked improvement in performance over the last few years, although there are no guarantees this will continue.
Free Spirit, as the name implies, is the most high-octane of Unicorn's funds. It is able to move freely and quickly in and out of stocks of all sizes and sectors. At present the fund managers John McClure and Fraser Mackersie favour technology stocks exposed to strong underlying growth themes including data storage, cloud computing and wireless connectivity.
They are targeting firms that are already profitable and have a global presence in niche areas although, it is a risky area. The approach has met with success thus far with holdings such as Sagentia, a provider of outsourced research and development, and network security firm NCC Group particularly good performers. They can invest in companies of any size including higher risk smaller companies.
Although not for the faint-hearted we are positive on the prospects for the fund. The Unicorn team are experienced smaller company specialists, and with this small, nimble fund we believe they could deliver good results over the long term.