Acorn Income Fund - Time to act following wind-up proposals
Acorn Income Fund (AIF) ordinary shareholders have less than a week to decide whether to cash in their investment or roll over into the open-ended Unicorn UK Income Fund run by AIF’s small-cap portfolio managers, Fraser Mackersie and Simon Moon. The proposals are subject to a vote in favour of discontinuation at the AGM and subsequent EGM approval (proxy forms to be returned by 8 October) and elections for the rollover or cash exit must be received by the registrar by 11 October. AIF’s 2022 zero-dividend preference share (ZDP) holders need take no action at present. In this note, we outline the background to and substance of the proposals, as well as considering how the Unicorn fund stacks up against the AIF portfolio.
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