Unicorn Asset Management's Citywire A-rated John McClure has passed away.
A statement from the board of Acorn Income Fund to the stockmarket read: 'The board of Acorn Income Fund Limited has been notified by Unicorn Asset Management Limited that John McClure, one of three co-managers on the company's smaller companies portfolio, has sadly passed away.
'Unicorn operates a team based investment approach and Simon Moon and Fraser Mackersie, the other co-managers of the Company's smaller companies portfolio who have worked with John since 2008, maintain responsibility for the portfolio.'
'The board sends its condolences to John's family.'
McClure specialised in UK smaller companies for more than 20 years. He joined Unicorn in the summer of 2000 after spells at Granville, Guinness Flight Global Asset Management, United Friendly Assurance and Hermes Asset Management.
However, it was the Unicorn UK Income fund where he really made a name for himself, returning 64.75% in the three years to the end of April, the second best performance out the 99 fund managers with a three-year track record in the UK equity income sector. Over five years he sat at the top of the peer group with a return of 256%.
Investors have flocked to the fund on the back of this stunning performance, with assets under management rising from around £400 million at the end of November to stand at around £715 million.
'John was an intelligent investor, a committed and dedicated member of our team and a very good friend. We will all miss him dearly and our thoughts are with his family at this sad time,' Unicorn chairman Colin Howell said in a statement.