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FAQ.

 

 


 

How can I contact you?

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    For individual investor enquiries please contact Link Investor Services at 0345 307 3439


    For institutional investor enquiries please contact Eduard Mallia at investor.relations@bluewhale.co.uk
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    For general enquiries regarding the Blue Whale Growth Fund or our investment strategy, please check our FAQ or email info@bluewhale.co.uk

     

     

  • Who are Link Asset Services?


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    You may notice various references to Link Asset Services (LF) on the Blue Whale site.

    Link is the Authorised Corporate Director (ACD) or "operator" of LF Blue Whale Investment Funds.

     

    Blue Whale Capital is the appointed Investment Manager of LF Blue Whale Investment Funds. 

     
    All stock research and investment decisions are undertaken by the Blue Whale Investment Team.

  • What is the Fund Management Centre?


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

    When you complete the Invest Now form on the Blue Whale website, you are redirected to the FMC to register and complete your order.

    As the Funds are bought and sold via Link, there are no platform fees or charges for dealing in shares in the Fund, when using this service. 


    For FMC enquiries please contact Link Investor Services

    If you have any feedback regarding the Fund Management Centre, please email us: info@bluewhale.co.uk
  • What fees do you charge?

  • Our costs and charges are outlined in the documents below.

    Firms subject to the revised Markets in Financial Instruments Directive ("MiFID II") are required to provide clients with "appropriate information in good time" about "all costs and related charges" both before investing and on a periodic basis thereafter. This information is made available using a standarised spreadsheet, referred to as an "EMT" file (for "European MiFID Template"). The EMT file is available to download below and is accompanied by the Costs and charges disclosure which provides a breakdown of the cost types.

     

    Costs and Charges Disclosure

     

    European MIFID Template (EMT)

                 

                

      


     

     

     

  • Where can I access Fund documentation?

  • Fund documentation including the Prospectus, Costs & Charges disclosure, KIIDs and Application forms can be found on our Documents page.
     
    Other documents, including annual and interim reports can be obtained by contacting Link Asset Services:
     
    Phone: 0345 307 3439
  • Where can I buy the Blue Whale Growth Fund?

  • You can invest in the Blue Whale Growth Fund directly in just a few easy steps, by completing the 'Invest Now' form at the top of this page.
     
    The fund is also available through the following platforms:
     
     
  • Is it possible to invest in the Blue Whale Growth Fund directly?

  • Yes. You can invest in the Blue Whale Growth Fund directly in just a few easy steps, by completing the 'Invest Now' form at the top of this page. Your investment is managed through the Link Asset Services Fund Management Centre, and there are no platform fees or charges for dealing in shares in the Fund, when using this service.

  • Can I hold the Blue Whale Growth Fund in an ISA/pension account?

  • Yes. The fund can be held in various investment vehicles including an ISA and SIPP.
     
  • What is the minimum investment in the LF Blue Whale Growth Fund?

  • The minimum investment criteria are detailed below:
     
  • Is there a minimum investment period and how easy is it to sell my shares and withdraw my money?

  • Equity investment should be seen as a long term investment, normally of at least 5 years.

    Shares in the Fund can be bought or sold on a daily basis [excluding days when the London stock Exchange is closed] and are settled T+4, i.e. proceeds from any sale will settle 4 days after selling your shares.

  • What is the average annual ROI With Blue Whale?

  • The Blue Whale Growth Fund is a global long-only fund. We run a highly concentrated portfolio of 25-35 stocks, with an aim to outperform the MSCI World Index (net GBP).
     
    The MSCI World Index (net GBP) has delivered an average annual return of 10% per year for the last 10 years. Since inception, the Fund has outperformed this benchmark.
     
    Please note that past performance is not a guide to future performance.
     
  • Do you employ a buy and hold approach?

  • We invest in a stock when the company meets our investment criteria and we consider valuation to be attractive. If either of these two factors change we will sell the stock. We don’t refer to “buy and hold” because many investors take this to mean that once you have bought a stock you will never sell. Fund managers who use the “buy and hold” label don’t actually do this and will sell a position if they believe it is too expensive or if they think the business model is broken.

  • Will you publish your entire portfolio?

  • We are not considering this as we do not feel it is helpful to performance in the long-run. If the fund was to become much larger in size, revealing all our positions to the market can be a hindrance. For example, if we had a relatively large position in a smaller company where liquidity was relatively low, there are plenty of algorithmic-driven and hedge funds who could use this to their advantage if they knew we needed to sell. This would be to the detriment of our investors so we do not want to do this.

  • Will you use live videos to answer questions from investors?

  • We are actively looking to move to a video format soon. We’d also like to explore the idea of live Q&A via Facebook or Twitter. A lot of the video formats out there are pre-prepared and scripted – we think this is 2019 and investors would like something more interactive but it depends on what is feasible from a compliance perspective. Please let us know your thoughts on what you’d like to see.

  • I am concerned that your portfolio contains too few stocks for a diversified investment. Do you intend to increase your number of holdings or is there a good reason why you have less than 35?

  • Some level of diversification is important but a fund should not be overdiversified. If you were to construct a portfolio of a select number of FTSE 100 stocks, the risk falls sharply as the portfolio increases in number from just one stock up until it has reached 25-35 stocks. However, by the time it has reached 25-35, most of the reduction in risk that can be attained has already been achieved. Adding further stocks is problematic for two reasons.
     
    Firstly, doing so fails to reduce risk much further but does require a compromise on conviction. This is because the more stocks you own, the less you know about each of them. Forcing yourself to invest in something where you have less conviction about future outperformance whilst achieving nothing in return is not a sensible strategy. Secondly, the risk of becoming a closet index tracker grows. 
     
    Active management is about trying to achieve superior returns to the overall market index. After 35 stocks, the more stocks a fund manager holds, the more likely they are to perform in-line with the overall index. In this instance, an investor would be better served buying a cheap passive ETF index tracker instead of paying a higher management fee to an “active” manager who achieves the same result. We believe investors should be very suspicious of managers who own more than 35 stocks.
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