Peter Webb, manager of Unicorn Asset Management's Free Spirit fund, is a classic growth investor. He looks for companies operating in markets that are set to grow as customers' spending continues to rise.

Mr Webb launched the fund at the end of 2001, when he believed that investors had become too sceptical about growth stocks, pushing their prices down to cheap levels. "Investors have become scared of taking on risk, but you can't afford to overlook growth," he says.