An investment fund backed by Peter Hargreaves has recorded a rebound in profits following an upsurge in the value of several major US tech stocks.
Blue Whale Capital, in which Hargreaves is one of two partners, reported a profit of £4.1m for the year to March, up from £3.9m.
The profit figure can be split between Hargreaves and his fellow partner Stephen Yiu, Blue Whale’s founder and manager.
But as neither has taken a profit from the firm since its inception a multi-million payout remains unlikely.
Fighting back: Blue Whale Capital, in which Peter Hargreaves is one of two partners, reported a profit of £4.1m for the year to March, up from £3.9m
The growth marks a welcome rebound for Blue Whale, which last year suffered a fall in profit as higher inflation and interest rates weighed on its main holdings which include computer chip giant Nvidia.
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and investment ideas
interactive investor
interactive investor
Flat-fee investing from £4.99 per month
Saxo
Saxo
Get £200 back in trading fees
Trading 212
Trading 212
Free dealing and no account fee
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
This article was originally published by a www.dailymail.co.uk . Read the Original article here. .