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

Partner Insight: Is tech a double-edged sword for advisers?

Partner Insight: Is tech a double-edged sword for advisers?

Sponsored by Flagstone
clock 02 December 2024 • 1 min read
Talking with… J.P. Morgan Asset Management CEO Patrick Thomson

Talking with… J.P. Morgan Asset Management CEO Patrick Thomson

The series continues as Richard Romer-Lee chats to Patrick Thomson

Richard Romer-Lee
clock 27 November 2024 • 5 min read
UK funds hit by £31.5bn in outflows so far in 2024

UK funds hit by £31.5bn in outflows so far in 2024

Passive UK-domiciled index funds gathered more than £14bn year-to-date

Giovanni Cafaro
clock 26 November 2024 • 3 min read