In April last year I commented on a new fund management group, Blue Whale, backed by Peter Hargreaves of Hargreaves Lansdown fame. I was cautious in my comments but as I promised, I have been watching the fund and it has done very well. Here is a link to my original post.
The fund managers’ own reporting says the fund is now up to GBP80 million, so still small. It has stuck with its US and tech biases but the trading record looks intelligent (stocks that were no longer looking right were quickly sold) and the performance relative to a sensible benchmark (the Investment Association Global sector) is stated as being in the 4th percentile.
Although the best of the performance was achieved in the run up until mid Summer, the overall return since launch is a very decent 11.7%. However, all new funds have the advantage of holding no “baggage” of poor stocks at outset, so should show relatively better performance data. It will take a few more discrete periods of performance to prove that the managers are long term stars, but I am impressed. I have read most of the monthly commentaries and they are credible.
The fund would make an interesting pairing with the Guinness Global Innovations fund that I have personally supported for some years. A sort of ‘young bucks’ vs ‘old hands’ challenge. I think I might try it out with a modest test purchase, if it is available on my trading platforms (always an issue with new funds)!
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