Unicorn to launch small caps fund

Unicorn Asset Management is to launch a closed end fund investing 100% in higher yielding UK smaller companies and to be managed by Peter Webb. The Guernsey registered trust, to be called the Osprey Smaller Companies Income Fund, does not yet have an exact launch date but the group has started marketing it and it should launch towards the end of August. Webb, manager of the Eaglet and Falcon investment trusts, will look to have around 30 holdings. He will be able to invest in any company up to a market cap of £1bn and is looking to generate a portfolio yield of 4%. It will be modestly g...