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

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Amazon.com has been a holding for four years in the Blue Whale Growth Fund, one of the UK’s most high-profile funds that invests in US companies.

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not any longer. Fund manager Stephen Yue told Businesshala sister publication Financial News that rising inflation has made him uncomfortable owning Amazon AMZN,
-0.09%,
“We never liked the retail business, and now we like it even less because of the inflationary story,” he said.

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

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

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Yiu also said Walmart WMT,
-0.53%
And others have stepped up their e-commerce game due to COVID.

On Amazon’s other major business, cloud provider AWS, UE said the growth potential of Microsoft MSFT,
+1.04%
and the alphabet GOOG,
+1.16%
Unit Google were high. Both of Amazon’s rivals are the fund’s top ten holdings.

Amazon shares have climbed 6% over the past 52 weeks, underperforming the broader S&P 500 SPX.
+0.28%
In which there has been an increase of 24 percent.

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