It is not currently possible to invest in the LF Blue Whale Growth Fund directly through the Blue Whale website, however we are developing a new feature that will enable site visitors to invest in a few easy clicks. The planned launch date is later in 2018.
It is currently possible to buy the LF Blue Whale Growth Fund across a variety of platforms including Hargreaves Lansdown, Charles Stanley, AJ Bell, Transact and Ascentric. However, we are aware that there are a number of platforms that it is still not possible to buy the fund through. We are in constant contact with a variety of different companies as we would like our fund to be available to the widest possible audience.
We are currently speaking to Cofunds, Interactive Investor and Funds Network, amongst others, to ensure we are on their platforms as soon as possible, however, at this point they have not been able to provide us with a date as to when this may be. If you would like the fund to be available with your current provider, it may help to speak to them directly to request the LF Blue Whale Growth Fund appears in their list of available investments.
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. Fundsmith says they “aim” to buy and hold but quite sensibly Terry Smith has sold positions over the past few years due to the reasons we have outlined above.
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. A particular well-known UK fund manager has been down the path of disclosing all of his holdings and we don’t feel this has helped his fund.
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 2018 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.
At present, we are unable to share performance metrics on the factsheet due to the age of the fund. Once we are able, we will show active share and we will show our performance vs. the MSCI World (Net GBP) index to show clearly to investors our relative performance. This will be on the September 2018 factsheet.