Blue Whale Capital, the fund group co-founded by billionaire investor Peter Hargreaves, has reported a drop in revenue and profit following the steep sell-off in tech stocks last year.
The London-based firm manages £950mn on behalf of customers in the Blue Whale Growth fund strategy, which invests in US tech businesses and other fast-growing companies.
But the fund’s performance was hit last year as tech stocks suffered bruising losses. Higher inflation and rising interest rates weighed on the likes of chipmaker Nvidia and Microsoft — two of Blue Whale’s largest holdings — and other companies whose value is tied to future earnings.
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