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UK Ethical Income Fund

Investment Objective

The Unicorn UK Ethical Income Fund aims to achieve an historic yield in excess of 110% of the FTSE All Share yield, over a 3 year period, by investing primarily in UK companies which meet the ACD’s ethical guidelines. For this purpose, UK companies are defined as those which are incorporated or domiciled in the UK, or have a significant part of their operations in the UK. Selection of such ethical equities will be undertaken on the basis of thorough company analysis, with ethical and socially responsible criteria reviewed at the point of investment and quarterly thereafter.

Investment Policy/Strategy

The fund may also invest, at its discretion, in other transferable securities, deposits and cash. The fund may also enter into certain derivative and forward transactions for hedging purposes. The fund mainly invests in UK quoted companies with a bias towards small and medium sized companies. Some of the companies may be quoted on AIM. AIM is the London Stock Exchange’s international market for smaller, growing companies. There is no guarantee that the target return will be achieved over a 3 year, or any other period, and investors should note that their capital is always at risk.


Fraser Mackersie
Simon Moon

Fund Facts

Fund Size – £m:
37.32 (31 December)
Number of holdings: 36
Launch date: 01/04/2016
IA Sector: UK Equity Income
Dividend Date: 31/03, 30/06, 30/09, 31/12
Dividend pay Date: 31/05, 31/08, 30/11, 28/02
Valuation Point: 10:00 forward
Domicile: UK
Financial year end: 30-Sep


Top 10 Holdings

Updated 31/12


% of Fund

Cineworld Group


Telecom Plus


Phoenix Group


Secure Trust Bank


Hill & Smith


LondonMetric Property


Brewin Dophin Holdings


FDM Group


Numis Corporation


Sabre Insurance




Sector Breakdown

Updated 31/12


% of Fund

Financial Services






Building & Construction




Travel & Leisure




Software & Computer Services


Consulting Services






Market Cap breakdown

Updated 31/12

Market Cap breakdown


No of companies






















Dividend History

UK Ethical Income Institutional B Shares Inc

Dividend Type Dividend Amount Ex Dividend Date Payment Date
Quarterly 1.6017 01/10/19 30/11/19
Quarterly 2.1344 01/07/19 31/08/19
Quarterly 0.6689 01/04/19 31/05/19
Quarterly 0.7927 02/01/19 28/02/19
Final 1.5222 01/10/18 30/11/18
Quarterly 1.2406 01/07/18 31/08/18
Quarterly 0.7850 01/04/18 31/05/18
Quarterly 1.0732 02/01/18 28/02/18
Quarterly 1.3971 01/10/17 30/11/17
Quarterly 1.5488 01/07/17 31/08/17
Quarterly 0.7692 01/04/17 31/05/17
Quarterly 0.9099 01/01/17 28/02/17
Quarterly 1.2132 01/10/16 31/11/16
Quarterly 1.4942 01/07/16 31/08/16

UK Ethical Income Institutional B Shares Acc

Dividend Type Dividend Amount Ex Dividend Date Payment Date
Quarterly 1.8574 01/10/19 30/11/19
Quarterly 2.427 01/07/19 31/08/19
Quarterly 0.7443 01/04/19 31/05/19
Quarterly 0.8850 02/01/19 28/02/19
Final 1.6797 01/10/18 30/11/18
Quarterly 1.3570 01/07/18 31/08/18
Quarterly 0.8518 01/04/18 31/05/18
Quarterly 1.1531 02/01/18 28/02/18
Quarterly 1.4825 01/10/17 30/11/17
Quarterly 1.6208 01/07/17 31/08/17
Quarterly 0.8049 01/04/17 31/05/17
Quarterly 0.9515 01/01/17 28/02/17
Quarterly 1.2606 01/10/16 31/11/16
Quarterly 1.4968 01/07/16 31/08/16

UK Ethical Income Retail A Shares Inc

Dividend Type Dividend Amount Ex Dividend Date Payment Date
Quarterly 1.6093 01/10/19 30/11/19
Quarterly 2.1467 01/07/19 31/08/19
Quarterly 0.6644 01/04/19 31/05/19
Quarterly 0.7983 02/01/19 28/02/19
Final 1.5287 01/10/18 30/11/18
Quarterly 1.2600 01/07/18 31/08/18
Quarterly 0.7973 01/04/18 31/05/18
Quarterly 1.0898 02/01/18 28/02/18
Quarterly 1.4193 01/10/17 30/11/17
Quarterly 1.5820 01/07/17 31/08/17
Quarterly 0.7962 01/04/17 31/05/17
Quarterly 0.9510 01/01/17 28/02/17

UK Ethical Income Retail A Shares Acc

Dividend Type Dividend Amount Ex Dividend Date Payment Date
Quarterly 1.8223 01/10/19 30/11/19
Quarterly 2.3841 01/07/19 31/08/19
Quarterly 0.7329 01/04/19 31/05/19
Quarterly 0.8729 02/01/19 28/02/19
Final 1.6512 01/10/18 30/11/18
Quarterly 1.3430 01/07/18 31/08/18
Quarterly 0.8437 01/04/18 31/05/18
Quarterly 1.1407 02/01/18 28/02/18
Quarterly 1.4763 01/10/17 30/11/17
Quarterly 1.6314 01/07/17 31/08/17
Quarterly 0.7816 01/04/17 31/05/17
Quarterly 0.9572 01/01/17 28/02/17

Share class information

Share Class Information Retail “A” Shares Retail “A” Shares Institutional “B” Shares Institutional “B” Shares
Launch Date 05/09/2016 05/09/2016 01/04/2016 01/04/2016
Initial Charge 5.50% 5.50% 2.50% 2.50%
Annual Charge 1.50% 1.50% 0.75% 0.75%
Ongoing charges 1.56% 1.56% 0.81% 0.81%
Sedol Code BDHLG08 BDHLG20 BYP2Y51 BYQCS25
Initial Investment £2,500 £2,500 £100,000 £100,000
Income/ Accumulation Income Accumulation Income Accumulation

Application forms and KIIDs

Retail A Shares(Inc) Retail A Shares (Acc) Institutional B Shares (Inc) Institutional B Shares (Acc)
KIID UK Ethical Income Fund Key Investor Information (A Inc KIID) UK Ethical Income Fund Key Investor Information (A Acc KIID) UK Ethical Income Fund Key Investor Information (B Inc KIID) UK Ethical Income Fund Key Investor Information (B Acc KIID)
Application Form Application Form Application Form Application Form Application Form
NISA Application Form Application Form Application Form
NISA Transfer Application Form Application Form
NISA Terms & Conditions Application Form Application Form


Issued by Unicorn Asset Management Ltd, which is authorised and regulated by the Financial Conduct Authority. The value of an investment, and any income from it, can fall as well as rise as result of market and currency fluctuations and you may not get back the amount originally invested. Investment in the securities of smaller and/or medium sized companies can involve greater risk than is customarily associated with investment in larger, more established companies. The market for securities in smaller companies is often less liquid than that for securities in larger companies, meaning above average price movements both positive and negative can be expected.

Unicorn Asset Management

Registered Office:
First Floor Office,
Preacher's Court,
The Charterhouse,
Charterhouse Square,


Telephone: 0207 253 0889
OEIC Dealing Line: 0345 026 4287
Press Office : 0786 663 9014



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Unicorn Asset Management is authorised and regulated by the Financial Conduct Authority (FCA registered company number 192164).

Unicorn Asset Management provides investment products for professional investors, which include:

  • A range of equity based long-only open-ended funds (sub-funds within an OEIC that is incorporated in the United Kingdom and approved by the Financial Conduct Authority for sale in the UK.
  • Unicorn AIM VCTplc; A closed ended Investment Trust which invests in AIM quoted companies with a view to providing shareholders with a steady income and capital growth.
  • Acorn Income Fund Limited; A closed ended Investment Trust which invests in small UK companies and aims to provide shareholders with high income and capital growth.
  • The Unicorn AIM IHT portfolio service which is designed to mitigate and individuals Inheritance Tax Liability.

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