Webb founded Unicorn in July 2000 and is leaving to persue other interests.
He says: “I remain extremely proud of the overall achievements at Unicorn but believe that the timing is right for me to move on and accept challenges elsewhere.”
Webb had been under pressure following poor performance of the Eaglet investment trust. In December 2007 activist investors Knox D’Arcy managed to get three members appointed to the board of the trust.
Knox D’Arcy then announced plans to convert the Eaglet investment trust into a vehicle focusing on directors’ trading in March 2008.