UPDATE: Peter Hargreaves to seed Blue Whale Growth fund

Co-founder of Hargreaves Lansdown Peter Hargreaves is set to invest £25m of his money into a new fund managed by former colleague Stephen Yiu.


Having become a partner in Blue Whale Capital in February this year, Hargreaves (pictured) – who stepped down from the board of Hargreaves Lansdown in April 2015 – will personally seed a new Global fund, which launches on 11 September with a three-week offer period ending 28 September.

Yiu started his career at Hargreaves Lansdown in 2002 as a quant analyst, before leaving to join New Star in 2007 as a fund manger working alongside Tim Steer. The duo joined Artemis in 2009, co-managing the Artemis UK Growth Fund, with Yiu leaving in 2013 to return to Hong Kong.

The fund has since been rebranded Artemis UK Select after Steer’s retirement last year.

Blue Whale confirmed to Portfolio Adviser that CF Blue Whale Growth Fund will be run using a fundamental, bottom-up stock picking approach, with a macro overlay.

The UK Oeic will invest in a concentrated portfolio of 25-35 companies from around the world, and aims to achieve outperformance of the MSCI World Index.

Co-managing the fund will be Robert Lloyd, who worked with Yiu at Nevsky Capital. The focus will be on developed markets, with 60% of the portfolio earmarked for investment in the US, 29% in the UK and 6% in Europe.

The fund will be available to buy through Hargreaves Lansdown, as well as directly from Capita Financial Managers which is the appointed Authorised Corporate Director (ACD).

Hargreaves’ son Robert Hargreaves is heading up Blue Whale’s marketing.