Eaglet trust slumps after tough year

After trading at a premium as high as 16% for the past few years, Unicorn Asset Management's £114m Eaglet investment trust slipped to a discount of 10% this month following a slump in performance. Managed by Peter Webb, Eaglet invests in UK companies capitalised below £150m and has returned 39.5% over the three years to 2 September, against a UK Smaller Companies sector average of -10.9% to rank number two in a field of 30. But the trust has underperformed in the past 12 moths, returning -29.0% against a sector average of -25.0%, to rank 32 out of 39. 'For quite a long time it was a ...