HL equity fund divulges entire debut portfolio

Niche Australian businesses due to round out the £300m fund


Hargreaves Lansdown has revealed its entire portfolio holdings of its HL Select Global Growth Shares fund with 76.6% invested since launch at the start of the month.

The £298m fund holds 72.9% in US companies with Amazon one of the three top holdings at 2.9% of the portfolio. US software business Servicenow and Danish medical goods business Coloplast also represent 2.9% of the fund.

The HL Select Global Growth Shares fund follows in the footsteps of the Select UK Growth Shares and Select UK Income Shares funds, which also disclose their entire portfolios along with the rationale behind each holding.

In total there are 29 positions in the HL Select Global Growth Shares fund with 22 of those representing a weighting of at least 2.7%. An additional five positions are to be revealed shortly.

“Some we’re still buying, so we’ll keep them under wraps a while longer,” said fund manager Steve Clayton (pictured). He revealed he was building positions in a couple of niche Australasian businesses.

Amazon, as well as Google’s owner Alphabet, hold “dominant positions in huge swathes of the modern economy”, said Clayton of his rationale for the two holdings. He touted Coloplast as the leading continence care provider in the world.

While the fund includes no allocation to Hargreaves Lansdown, it does hold US platform giant Charles Schwab, which is favoured for its vast scale offering a cost advantage over rivals. In an online breakdown of the portfolio, the team praises Charles Schwab’s innovations in digital advice and ETFs.


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