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:-here’s-why-a-star-fund-manager-just-sold-his-entire-stake-in-amazon.com
:-here’s-why-a-star-fund-manager-just-sold-his-entire-stake-in-amazon.com

Breaking

: Here’s why a star fund manager just sold his entire stake in Amazon.com

Amazon.com has been a holding for four years in the Blue Whale Growth fund, one of the highest-profile U.K. funds that invests in U.S. companies.

Not any longer. Fund manager Stephen Yui told MarketWatch sister publication Financial News that rising inflation made him uncomfortable with owning Amazon
AMZN,
-0.09%
.
“We’ve never liked the retail business, and now we like it even less because of the inflation narrative,” he said.

Read the full FN.com story on the Blue Whale stake sale.

The Labor Department on Wednesday reported that consumer prices shot up 7% in the 12 months ending December.

Yiu also said Walmart
WMT,
-0.53%

and others have stepped up their e-commerce game due to COVID.

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On Amazon’s other key business, cloud provider AWS, Yui said the growth potential of Microsoft
MSFT,
+1.04%

and Alphabet
GOOG,
+1.16%

unit Google were higher. Both Amazon rivals are top ten holdings of the fund.

Amazon shares have climbed 6% over the last 52 weeks, underperforming the broader S&P 500
SPX,
+0.28%

that has gained 24%.

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