Peter Hargreaves backs fund with £25 million

FundingPeter Hargreaves, who co-founded one of the UK’s largest independent financial advice firms, has used £25 million (€27 million) of his own money to back a fund manager who previously worked for him.

The fund manager, Stephen Yiu, and co-manager Robert Lloyd, are launching the CF Blue Whale Growth Fund to attempt to beat the MSCI World Index by investing in a concentrated portfolio of 25-35 companies globally. 

Yiu has previously worked at Hargreaves Landsown, which Peter Hargreaves co-founded with Stephen Lansdown in 1981.

Hargreaves described Yiu – who has also been a fund manager at Artemis and New Star (which was bought by Henderson Global Investors) – as a “very special talent”.

Lloyd, the co-manager, formerly worked at Nevsky Capital.

Structured as a UK Oeic, the fund is not currently available to investors outside of the UK unless they meet eligibility requirements by the fund’s authorised corporate director, which is Capita Financial Managers.

Capita and Hargreaves Lansdown will distribute the fund, which launches on September 11 with an offer period ending September 28.

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