Platform and wealth manager Hargreaves Lansdown has launched three new ready-made portfolio funds that spread money across a range of global equities and bonds.
The new funds follow the launch of the HL US Fund, which currently has a value of £745m.
They are part of Hargreaves’ new strategy which aims to expand and improve the range of investment options it provides to clients at all stages of their investment journey, from beginners to highly experienced investors.
The funds are called HL Adventurous Managed, HL Moderately Adventurous Managed and HL Balanced Managed.
The Adventurous Managed fund will be aimed at investors with a low sensitivity to volatility and an investment horizon of ten years or more.
The other two new funds will be targeted at investors with an investment horizon of five years or more.
The higher-risk portfolios will typically be weighted more towards equities, and the lower-risk funds more towards bonds.
They are funds of funds which are a mixture of third-party funds, ETFs and HL Building Block funds.
They are all standalone investments with varying levels of risk to suit different needs and requirements.
The portfolios will be actively managed by fund managers Ziad Gergi and David Smith who will combine funds, using asset allocation techniques, to blend asset classes for diversification.
David Smith, senior fund manager, Hargreaves Lansdown said: “HL’s new ready-made investment portfolios are for those looking to invest but unsure where to start.”
The funds will start trading on 8 March 2023 and there’s a £1 per unit fixed offer launch price until 23:59 on 7 March.
The minimum investment is a lump sum of £100 or £25 by direct debit. The ongoing charges figure is 0.99% for the most risky, falling to 0.98% for the moderate fund and 0.92% for the balanced fund. Hargreaves will also charge a platform fee of 0.45%.
