Selling out of FAANG stocks was "correct" for the LF Blue Whale Growth fund in 2022, but it still was not enough to salvage returns, with the fund underperforming the IA Global sector for the first time since its inception.
The £775m fund lost 27.6% in 2022, versus a fall of 11.1% for the IA Global sector, according to the firm. This was a very different outcome to the "blissfully uneventful" year the fund's manager had been hoping for, after an admittedly "tumultuous" 2020 and 2021. BoE's Mann: Bank rate has further to rise Stephen Yiu, the fund's manager and chief investment officer at Blue Whale Capital, admitted growth funds like his lost out in favour of value biased portfolios last year during market's rotation to value. Writing his 'Year in Review' letter to investors, Yiu made the case for ...
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