Over half of Acorn shareholders opt for open-ended option

Liquidity a factor

Following last year’s decision to wind up the Acorn Income trust, 55% of shareholders opted to move their holdings to the Unicorn UK Income fund, the open-ended vehicle run by the same management team.

Fraser Mackersie and Simon Moon, the fund managers of the Unicorn fund and the former Acorn trust, told Investment Week that while the process of planning the integration of the two portfolios was "quite complicated", they were pleased with how it went and the outlook for the new open-ended portfolio.  In order to pay out the shareholders who chose not to transfer and repay some of the trust's debt, the managers had to exit some positions held within Acorn's roughly 40-strong portfolio. However, 23 holdings were transferred to the UK income fund, 15 of which were already held within the ...