Blue Whale backs investment process as fund tumbles 30%

High exposure to technology

clock • 2 min read

Stephen Yiu and Peter Hargreaves’ Blue Whale Growth fund fell 30% in the first half of 2022, as the fund’s favoured technology sector crashed in the six months to June, with the Nasdaq falling 29% so far this year.

The IA Global Average benchmark fell just 14% as the fund plummeted 30%, which Blue Whale attributed to high technology exposure, compared to that in the global sector as a whole. The biggest detractors - Nvidia and Atlassian - had their share price decline as valuations reset following hikes to interest rates.   Despite the share price performance, the firm said it remained confident in its investment thesis as there had been "no material adverse news or change to company fundamentals". The half-year update added: "The other main detractor was Sartorius (biomedicine). Again, the i...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Autumn Budget 24: Reeves sets 20% IHT rate on AIM shares

Autumn Budget 24: Reeves sets 20% IHT rate on AIM shares

Chancellor unveils 50% relief

Cristian Angeloni
clock 30 October 2024 • 1 min read
Cash in Conversation: A poll for financial advisers

Cash in Conversation: A poll for financial advisers

Professional Adviser
clock 29 October 2024 • 1 min read
The challenges and opportunities for active managers

The challenges and opportunities for active managers

'We believe good active managers always have a place in a portfolio'

Darius McDermott
clock 29 October 2024 • 5 min read