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Most investment platforms levy an administration charge for holding your funds, which is based on a percentage of your investment or a flat fee. Some platforms also impose a fund dealing charge which you pay when you buy or sell shares in a fund.

By investing in the Blue Whale Growth Fund directly through Link Asset Services there are no platform fees or fund dealing charges to pay.

The Fund Management Centre is Link Asset Services' newly launched platform which enables investors to buy and sell shares in the Blue Whale Growth Fund online.

Submitting this form will redirect you to the Fund Management Centre to register and complete your order.

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How Blue Whale Looks at ESG.

In our management of the LF Blue Whale Growth Fund, we strive for consistent, significant outperformance through detailed analysis of company and industry fundamentals.

Among the factors we consider in our research (including structural growth drivers, competitive position, management team strength, ability to withstand a recession etc.) are those related to environmental, social or governance (“ESG”) issues which have a material impact on the ability of a company to grow sustainably and profitably.

With a more socially and environmentally conscious customer base, it stands to reason that those companies that employ high standards of governance and act in a sustainable manner will stand to benefit. Investing in this way was previously a lot to do with investing with a clean conscience - it now also has the power to drive attractive returns.

Here we show you how we put this into practice and explain the factors we take into consideration for a selection of companies and sectors.  In practice, multiple facets of ESG will affect companies.  In the examples below we have selected a key facet.

How do we factor in ESG for...

Environmental

We Buy: Dassault

We see stewardship of the environment as an important driver of companies’ sustainability. As the speed of innovation accelerates, manufacturing companies are seeking more efficient means of reducing the impact of product development and their environmental footprint.

  • This is a structural growth trend that Dassault benefits from by helping its industrial manufacturing customers predict and avoid operational issues and create scientifically accurate models of their environmental impacts through its 3D modelling and simulation software.
  • We are investors in Dassault.

We Avoid: Coal Mining Companies

We do not invest in industries where environmental concerns prevent a company from sustainably growing revenues or profitability.

  • One example is coal mining where revenue growth is structurally depressed by the shift to cleaner alternatives.
  • Furthermore, increasing public concerns around water use, deforestation and environmental degradation caused by pollutants are catalysing more stringent environmental regulation. This translates into a higher risk of more punitive costs of compliance that could severely erode profitability
  • We do not invest in coal mining companies.

Social

We Buy: PayPal

We see financial inclusion as a keystone of sustainable development.

  • Financial inclusion is a structural growth driver for payments companies seeking to grow the pie instead of simply taking a larger slice.
  • By building apps giving access to eCommerce and credit for the unbanked (those without bank accounts, often from disadvantaged backgrounds), PayPal is growing the size of its potential customer base by 30 million in the US – and billions globally – thus sustaining its ability to continue growing revenues at a high rate.
  • We are investors in PayPal.

We Avoid: "Gig" economy companies

We do not invest in industries with poor (occasionally bordering on exploitative) labour relations.

  • Companies posting attractive growth in the short term often mask a future reckoning in generating profitability.
  • This includes many rideshare or “gig economy” companies that shirk employer responsibilities by externalising employee costs in order to pass themselves off as “asset-light” businesses with limited labour obligations to justify higher valuations.
  • We do not invest in “gig economy” companies.

Governance

We Buy: Microsoft

We see strong governance as a key driver of companies’ long term growth through strong internal procedures and controls, culture and compensation.

  • There is fierce competition among technology companies to hire and retain the best talent where corporate culture is often a deciding factor.
  • Corporate culture cannot improve without good corporate governance and this was what Satya Nadella oversaw at Microsoft five years ago when he made its Board of Directors more inclusive, more independent and with better shareholder representation.
  • These changes underpinned the cultural renaissance at Microsoft which eventually shed its image as a stale provider of legacy software while embracing its new role as the go-to partner for enterprises journeying to the Cloud.
  • We are investors in Microsoft.

We Avoid: Regions with Weak Governance Frameworks

We do not invest in companies with poor corporate governance which render them highly exposed to the risks of mismanagement and fraud even if they enjoy attractive growth and profitability.

While this is unlikely to be the case in countries with a strong corporate governance framework (like that in the UK), in regions where the framework is less robust (or at times non-existent), as in some emerging markets, investors are often saddled with additional risks of governmental interference and lack of transparency.

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