Unicorn Mastertrust Fund October 2014 Fund Objective 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. Unicorn Asset Management Limited (Unicorn) is an independent, specialist fund management group, established in July 2000 and majority owned by its directors and employees. Rank Financial Express Rank 2/46 from launch to 30 September 2014 Unicorn focuses on long term, long only, investment in UK quoted companies and aims to achieve superior absolute returns through the application of traditional, fundamental principles of investment. Fund Commentary Volatility returned to equity markets during September as concerns were raised about the strength of global GDP growth. Mastertrust's net asset value retreated by 1.1%. The primary detractors from performance were Acorn Income Fund (-11.6%), Aberdeen Latin American Income (-8.8%), City Natural Resources (-6.6%) and TR Property (-5.1%). Positive contributions came from Aberdeen Private Equity (+7.7%), Strategic Equity Capital (+3.8%) and Pacific Assets Trust (+3.2%). The position in Pacific Assets Trust was reduced during the month with the proceeds reinvested in Edinburgh Dragon. Other portfolio activity featured the sale of Fundsmith Emerging Equities and the purchase of Schroder UK Growth. Cumulative Performance Mastertrust YTD 1 Year 3 Year 5 Year Since Launch 3.4% 7.2% 49.1% 74.6% 208.4% 44/197 5.2% 12/166 31.8% 2/137 38.7% 2/45 85.2% Rank 48/199 2.2% Sector Average Source: Financial Express (Using bid to bid market value, total return) Discrete Performance Mastertrust 2013 2012 2011 2010 2009 24.9% 11/200 19.7% 3/179 -10.8% 129/162 26.2% 2/148 47.5% 4/135 9.7% -7.5% 13.7% 22.4% Rank Sector Average 14.1% Source: Financial Express (Using bid to bid market value, total return) Fund Performance - Since Launch Past performance is not a guide to future performance. The value of investments and the income from them may go down as well as up and investors may not get back the full amount of their original investment. Unicorn Mastertrust Fund October 2014 Top 10 Holdings Foreign & Colonial Investment Trust 3.2% Sector Breakdown Equity Investment Instruments Caledonia Investments Templeton Emerging Markets Investment Trust TR Property Investment Trust Acorn Income Fund 2.9% 2.9% 2.8% 2.6% Cash Non-Equity Investment Instruments Financial Services Total Marwyn Value Investors 2.6% Fidelity Asian Values North Atlantic Smaller Companies Herald Investment Trust Edinburgh Dragon Trust 2.6% 2.5% 2.5% 75.8% 17.3% 4.2% 2.7% 100.0% 2.3% 26.9% Total Fund Facts Fund Manager Fund Size Launch Date Fund Sector Peter Walls £20m 31st December 2001 Active Managed Share Class Information Number of Holdings Pricing ISAs/JISAs Dividend Dates 48 10:00 Daily Available EX-Div: 30/9 A - Income 5.50% 1.50% Initial Charge Annual Charge ISIN Code GB0031269367 Sedol Code Bloomberg Code MEX ID Initial Investment B - Income O - Income 2.50% 5.50% 0.75% 1.50% GB0031218018 GB00BJTMQ677 3126936 UNMSTAI U2MA £2,500 3121801 UNMSTBI U2MSAA £100,000 BJTMQ67 UNMSTOI U2AAAD £10,000 Payment: 30/11 Risk Ratios 1yr 3 yr 5.65 7.07 Beta 1.32 0.90 5.69 0.85 Sharpe Information Ratio 0.68 0.53 1.78 1.29 Volatility Alpha How to buy the Fund: The fund is available through a number of distributors including HL Vantage Alliance Trust James Hay Ascentric/Funds Direct AXA Elevate Novia Bestinvest Charles Stanley Direct Cofunds Fidelity Funds Network Nucleus Pershings Nexus Funds Standard Life Fundzone Transact All figures within this factcheet have been calculated with reference to 30 September 2014 Authorised and regulated by the Financial Conduct Authority. The information should not be construed as an invitation, offer or recommendation to buy or sell investments, shares or securities or to form the basis of a contract to be relied on in any way. Unicorn Asset Management Limited provides no guarantees, representations or warranties regarding the accuracy of this information. No third party liability is accepted by Unicorn Asset Management Limited, its directors and employees, or its affiliates and their directors, in respect of errors and omissions, other than under the duties and liabilities of the Financial Services and Markets Act, 2000. Past performance is not a guide to future performance. The value of investments and the income from them may go down as well as up and investors may not get back the full amount of their original investment. You should not invest unless you are prepared to accept a high degree of risk. Taxation levels, benefits and reliefs may all vary depending on individual circumstances and are subject to change. Investing in smaller companies, including AIM companies, can carry greater risks than those usually associated with large capitalisation companies. Smaller companies are likely to be less established and may not have access to the financial resources available to their larger counterparts. The shares of smaller companies are relatively illiquid and under-researched. Fact sheet issued by: Unicorn Asset Management Limited Preacher’s Court The Charterhouse Charterhouse Square London EC1M 6AU Telephone: 020 7253 0889 Fax: 020 7251 4028 Email: [email protected] Website: www.unicornam.com Dealing Helpline: 0845 026 4287