Portfolio Update

Acorn Income Fund Ld
03 January 2007

Acorn Income Fund Limited (the 'Company')


Disclosure requirement re : UKLA Listing Rule 15.4.11

In accordance with the UKLA Listing Rule 15.4.11, the following list represents
the Company's ten largest investments as at 31 December 2006:

Name of Company

Nationwide B/S FRN 06/10
Abacus
Lupus Group
Diploma
Spirax Sarco Engineering
Weir Group
De la Rue
Renishaw
Primary Health Prop
Bespak




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