Blue Whale's Yiu sells Amazon following 'immense' inflationary pressure

Stock 'violates' his investment thesis

Stephen Yiu, manager of the £1.1bn Blue Whale Growth fund, has axed his entire stake in Amazon from the portfolio following increased inflationary pressure.

Yiu, who has held Amazon in the fund for four years until now, stated during the first global lockdown in May 2020 that the firm was a "net beneficiary" of the Covid-19 pandemic, given that it operates one of the world's largest e-commerce platforms for third-party sellers. He also said its cloud service AWS - which is the largest in the world - would fare well during the pandemic, as it powers fellow beneficiaries such as Netflix, DisneyPlus and Ocado. RSMR adds Blue Whale Growth, Goldman Sachs and Capital Group funds to ratings list Now though, as inflationary pressures globally hav...