Peter Hargreaves
Turnover and profits surged at Blue Whale Capital, the London-based investment partnership that manages the LF Blue Whale Growth Fund, a top performing UK authorised OEIC.
Turnover surged to £4.64 million for the year to 31 March 2021, a £2.98 million or 179.61 percent increase on the £1.66 million recorded for the previous year, according to its latest accounts which have just been deposited at Companies House.
Operating profits came in at £2.49 million, a £2.13 million or 587.34 percent increase on the £0.36 million for the year to 31 March 2020.
This should be very good news for Peter Hargreaves, the co-founder of Hargreaves Lansdown, the UK’s biggest execution only broker.
Not only does Mr Hargreaves have a significant personal and family holding in LF Blue Whale but, along with Stephen Yiu, the fund’s manager, he is one of the two members of Blue Whale Capital.
Indeed, Mr Hargreaves famously seeded the new fund with £25 million of his own money.
Moreover, with the fund almost certain to record another year outperformance relative to both its benchmark and peers, Mr Hargreaves’ holdings should also have increased significantly.
Furthermore, with the fund breaching the £1 billion threshold during 2021 the prospect of a big hike in revenues and profits for the current financial year looks very good.
According to its latest factsheet shares in the LF Blue Whale fund had posted a 23.30 percent gain for the year to 30 November. This compares with the 16.6 percent generated by the Investment Association’s (IA) Average, a level of outperformance of 6.70 percent.
Since its launch on 11 September 2017 the fund has generated a total return of 122.10 percent, an annualised rate of return of 20.80 percent.
This easily outperforms the 61.20 percent cumulative return posted by the IA Global Average, an annualised rate of return of 8.8 percent.
Like many of its peers Mr Yiu employs a quality growth strategy and invests on a global basis.
The top ten holdings consist of Adobe, Alphabet, ASML, Atlassian, Intuit, Mastercard, Microsoft, Nvidia, Sartorius and Veeva.
At present the LF Blue Whale Fund remains the only vehicle managed by Mr Yiu and his team.
But it seems only a matter of time before its fund family will expand given the success enjoyed to date.
