Enthusiasm for artificial intelligence drives stocks to record highs in 2024.
While some are cautious and warn of risks ahead, fund manager Stephen Yiu and his team Blue Whale Growth Fund Stay invested in many of the stocks behind the rally, including NVIDIA.
On CNBC’s Pro Talks, Silvia Amaro will ask high-performing investors where he sees the opportunities and risks in the current market.
Watch Pro Talks live on Wednesday 18 December at 12pm London / 8pm Singapore / 7am ET. Pro subscribers can submit question Yao is here.
Yiu is a portfolio manager at the UK-based Blue Whale Growth Fund, with $1.4 billion in assets under management. Launched in 2017, the fund typically holds a “high-conviction” portfolio of up to 35 stocks.
He previously told CNBC Pro that he had Selling Microsoft StockOne of the biggest backers of ChatGPT maker OpenAI is concerned about the tech giant’s future profitability amid rapid growth in artificial intelligence spending.
The fund’s return in 2023 will be 30.7%, exceeding S&P 500 IndexThe increase was 24.2%, and the increase this year as of the end of November was 23.6%.
Over the past seven years, Yao has led the fund through the busts and booms of the epidemic, political instability, high inflation and high interest rate environments, delivering a net return of more than 140% to investors.
“We have built a portfolio of companies that we believe should be able to rise above these issues while taking advantage of global megatrends to generate outsize returns for investors,” Yao told investors in November. “We are a fund designed to compound returns with the sole purpose of achieving consistent index outperformance.”
Yiu has been managing money for investors for the past 22 years, starting with the Hargreaves Lansdown MM Income & Growth Portfolio Trust in 2002.
In 2017, he invested only 36 million pounds to establish the Blue Whale Growth Fund, part of which came from Peter Hargreaves, the founder of Hargreaves Lansdown, the UK’s largest retail brokerage company.
Watch Stephen Yiu’s top investing ideas, Click here to join CNBC Professional Lectures Wednesday 18 December, 12pm London / 8pm Singapore / 7am ET.
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