Celebrated fund manager Peter Webb has resigned as chief executive and director of Unicorn Asset Management.

Webb, an ebullient figure who founded Unicorn in 2000 and achieved impressive results, says, ‘The timing is right for me to move on and accept challenges elsewhere.’ After resigning last autumn from the board of his formerly star-performing Eaglet Investment Trust under pressure over its more recent performance from activist ‘arbitrage’ funds, he had been discussing establishing new AIM ‘value’ funds for US and other overseas investors.

‘I remain extremely proud of the overall achievements at Unicorn,’ comments Webb. His new projects will not now be pursued under the Unicorn banner.

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