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...

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