Unicorn’s funds under management are allocated across three fund classes:

-Open Ended Investment Companies,
-Offshore Income Fund,
-AIM Venture Capital Trust.

For definitions of each of these fund classes, please refer to the Investment Classroom section.

OPEN ENDED INVESTMENT COMPANY (OEIC)

The Unicorn OEIC has five sub-funds, each of which has its own investment policy and objective. Each of the sub-funds can be invested in separately.

Unicorn Free Spirit Fund

The Free Spirit Fund is an opportunistic fund allocating capital to provide maximum return across all sectors of the market.

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Unicorn UK Smaller Companies Fund

The portfolio will be composed of up to 50 holdings which typically have market capitalisation at the lower end of the range.

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Unicorn Mastertrust Fund

Unicorn Mastertrust is a Fund of Investment Trusts. It provides exposure to a widely diversified range of equity markets and asset classes around the world. The Fund seeks to select the best funds from the best managers at the best time.

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Unicorn UK Income fund

To deliver a gross yield at least 10% greater than the yield produced by the FTSE All Share Index.

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Unicorn Outstanding British Companies Fund

The Unicorn Outstanding British Companies Fund's principal objective is to achieve the highest annual compounding rate of return over the long-term, by investing in a collection of outstanding British companies, either Fully Listed or quoted on the Alternative Investment Market, with the least amount of economic, as distinct from market price, risk.

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OFFSHORE INCOME FUND

Unicorn Asset Management acts as the Investment Adviser to this fund. Premier Asset Management ( Guernsey) Ltd is the Investment Manager of Acorn Income Fund. The fund is Guernsey-based and is listed on both the Channel Islands Stock Exchange and the London Stock Exchange.

Acorn Income Fund

Acorn sets out to achieve both capital growth and above average income for its shareholders. Approximately three-quarters of its assets are invested in the equity of smaller capitalised UK companies (managed by Unicorn), and a quarter in UK fixed interest bonds (managed by Premier Asset Management).

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AIM VENTURE CAPITAL TRUST

Unicorn AIM VCT seeks to provide shareholders with an attractive return from a portfolio of investments in new share issues by AIM companies. These new issues can arise from placings by companies already quoted on AIM, or from shares issued as companies come to AIM for the first time.

Unicorn AIM VCT plc

Fund size: approximately £58m as at 31st March 2010

The Unicorn AIM VCT was launched in November 2001 to allow investors the opportunity to benefit from generous tax reliefs while investing in growth companies listed on the AIM market. The fund raised £35m, and prior to the merger had returned 45.5 pence per share to Shareholders through tax-free dividends.

The Company was enlarged by the S2 share issue in April 2004, which raised £15.8m and prior to the merger the fund had returned tax-free dividends of 21.25 pence per share to Shareholders.

In May 2007, the launch of the S3 share issue raised a further £5m, and prior to the merger returned tax-free dividends of 1 pence per share to shareholders.

The Unicorn AIM VCT II was launched to capitalise on an increasing pool of investment opportunities on the AIM market. The Fund raised £23.1m, closing to new subscriptions in May 2005 and prior to the merger had returned 6 pence per share to Shareholders.

This pool of capital was increased by the C share issue, which closed to new subscriptions in April 2006, having raised a further £12.5m. Prior to the merger, the fund had returned 2.45 pence per share to Shareholders.