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Whale Tail
Whale Tail

The Fund Management Centre is Waystone Management (UK)'s platform which enables investors to buy and sell shares in the WS Blue Whale Growth Fund online.

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No Platform Fees

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 WS Blue Whale Growth Fund directly through Waystone Management (UK) there are no platform fees or fund dealing charges to pay.

 

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Blue Whale's Approach to ESG.

 

Blue Whale is committed to delivering consistent significant outperformance for the funds we manage, through detailed analysis of company and industry fundamentals. With the aim of protecting and enhancing the value of our investors’ assets, Blue Whale naturally incorporates the assessment of Environmental, Social and Governance (“ESG”) factors in our analysis of companies as we believe that sound ESG policies and behaviour are inextricably linked to the survivability and long term sustainable growth and profitability of the companies in which we invest. 

As a UK FCA regulated firm, Blue Whale is not subject to the EU Sustainable Finance Disclosure Regulation, however, as the investment manager of an EU UCITS fund (Blue Whale Investment Funds ICAV - Blue Whale Growth Fund) we are required to make the attached disclosure - Sustainability - Regulation on sustainability-related disclosures in the financial services sector (SFDR) - regarding how consideration of sustainability risks is integrated into our investment process. Despite this integration and its important role in our investment decision-making, investors should note that Blue Whale’s funds do not have a sustainable investment objective and are not promoted as ESG funds.

Integration of ESG

Amongst the factors assessed in our research, we consider those related to ESG issues which have a material impact on the ability of a company to grow sustainably and profitably. As we aim to be long term investors, good corporate governance together with a progressive approach to social factors (including diversity) and the avoidance of environmentally damaging activity are important elements in our analysis and selection of suitable investments for the funds. We believe that such characteristics support long-term sustainable growth and companies’ profitability, ultimately driving attractive returns for our investors. 

The Investment Team considers ESG risks carefully in its investment process as an integral part of its fundamental company analysis. Risks and factors considered encompass environmental (e.g. waste and pollution), social (e.g. equality and diversity, labour relations), and governance (e.g. board structure and diversity, executive remuneration, capital allocation) matters. The majority of our research is of a qualitative nature which is, if appropriate, further reflected in our valuation models should the ESG factor change a company’s long-term prospects.

Whilst we are generally sector agnostic, our ESG standards mean that there are areas we avoid investing in, while some characteristics, on the other hand, are valued positively.

As an example, we would avoid

  • industries where environmental concerns prevent a company from sustainably growing revenues or profitability (e.g. thermal coal mining where revenue growth is structurally depressed by the shift to cleaner alternatives; industries with excessive deforestation and environmental degradation caused by pollutants that are at risk of more stringent environmental regulation);

  • industries with poor labour relations (e.g. 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);

  • companies and regions with weak governance frameworks (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; markets with additional risks of undue governmental interference and lack of transparency).

On the other hand, we would consider

  • companies with strong governance driving companies’ long term growth through strong internal procedures and controls, culture and compensation;

  • companies focusing on more efficient means of reducing the impact of product development and the environmental footprint.

Stewardship

Blue Whale believes firmly in the importance of effective stewardship and long-term decision-making, involving transparency of engagement policies between institutional investors and the investee companies. Engagement activities may primarily encompass monitoring companies’ corporate governance, strategy, capital structure and financial and non-financial performance and risk. This involves reviewing annual reports and accounts, company announcements and other publicly available information, contact with companies’ Investor Relations and where possible, senior management. Additionally, Blue Whale exercises voting rights as part of its engagement approach.

UNPRI

The UNPRI (United Nations Principles for Responsible Investment) is a global network of investors encouraging the integration of ESG factors into the investment decision-making and ownership policies and practices. Its framework is based on six aspirational Principles that provide guidance on how to incorporate ESG issues in the investment practice, with the aim of promoting sustainability in the global financial system. The UNPRI further encourages transparency and accountability, and fosters collaboration within the investment industry to drive positive environmental and social impact.

Blue Whale is a signatory to UN Principles for Responsible Investment (UNPRI).

For more information visit UNPRI website.