Hargreaves Lansdown (HL), one of the UK’s largest investment platforms, has announced the launch of its latest offering, the HL Global Equity Income Fund, an actively managed global equity income fund.
The fund is set to start trading on 7 November 2024, offering investors a streamlined approach to both global income and growth opportunities
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The decision to introduce the new fund comes as global dividends reach record highs, with HL reporting increased client interest in global equity income funds over UK equity-focused ones.
The HL Global Equity Income Fund will invest in a diversified portfolio of global stocks, focusing on high-quality companies that pay consistent dividends.
Additionlly, the fund is specifically designed to appeal to investors seeking income, particularly those approaching retirement or already retired.
To oversee the fund, HL has collaborated with three global equity income managers:
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By GlobalData- Aegon, which focuses on companies with strong balance sheets and sustainable dividends.
- Baillie Gifford, which emphasises businesses with attractive growth prospects and resilience during market volatility.
- JPMorgan (JPM), known for its disciplined approach balancing current income and future dividend growth.
The fund will pay monthly income, with a final payment at the end of each year, and will have broad asset allocation covering the UK, developed ex-UK, and emerging markets.
Its launch offer is priced at £1 ($1.31) per unit, available from 10 October to 6 November 2024.
Investors can participate with a minimum lump sum of £100 or £25 monthly via Direct Debit.
The Ongoing Charges Figure (OCF) is set at 0.79%, plus platform fees based on the account type, such as 0.45% for ISAs and 0.25% for Lifetime ISAs (LISA).
With this launch, Hargreaves Lansdown continues to expand its Building Block fund range, providing investors with simplified, diversified solutions for long-term financial planning.
Toby Vaughan, chief investment officer, Hargreaves Lansdown stated: “We’re excited to launch our new Global Equity Income fund, giving clients easy access to global stock markets with a focus on delivering both reliable income and growth.
The fund invests in a well-diversified portfolio of high-quality, dividend-paying companies worldwide, handpicked by our chosen expert managers. Along with steady income, it offers the potential for long-term capital appreciation, striking the right balance between risk and return.
While UK dividends are a strong and reliable option historically, the strengthening of global dividends is making international diversification an increasingly attractive strategy – and one we’ve seen adopted by our clients as well as incorporated into our own asset allocation strategy.
The fund will complement our existing range of HL Building Block funds, offering clients a seamless and straightforward way to build a portfolio aligned to their long-term investment goals.”
