Speaking exclusively to FE Trustnet, the FE Alpha Manager (pictured) said the fund will have a multi-cap focus, targeting mispriced companies that have a catalyst for change. "Our plan is to launch a special sits fund later this year. It will be very much multi-cap, and be a go-anywhere fund," he said.
"It is very much an extension of the range, but it's also to some extent where we see the opportunity."
McClure is best known for running the five-crown rated Unicorn UK Income fund, which tops the IMA UK Equity Income sector over a five year period with returns in excess of 300 per cent.
Performance of fund, sector and indices over 5yrs
Source: FE Analytics
While the manager remains bullish on the prospects for UK equities in general, which he will talk about in greater detail in an upcoming FE Trustnet article, McClure thinks that growth-focused funds could come back in vogue in light of income's stellar run of late.
"Income has been chased very hard of late," he said. "I'm a bit worried investors have been going into income funds because bank rates are so low."
The manager adds that Unicorn UK Smaller Companies – a growth focused fund he co-manages with Simon Moon – could be set for a better period of performance than the Unicorn UK Income fund, as valuations are more stretched in dividend-paying stocks.
Performance of funds and indices over 1yr
Source: FE Analytics
FE Analytics data shows that the small cap portfolio is behind UK Income over a three and five year period, though is ahead over one year.