The global growth fund will form part of Hargreaves Lansdown’s Select fund range, which invests directly in equities, and will sit alongside its UK Growth and UK Income funds.

The HL Select Global Growth Shares fund will launch on 3 May and invest across all of the world’s major stock markets.

The portfolio will consist of around 30 to 40 names, offering diversification across industries and geographies.

By keeping the portfolio relatively concentrated, manager Steve Clayton hopes that each position can make a difference to the fund’s performance.

The manager will focus on businesses with ‘quality’ business models, which he believes are long-term winners.

Transparency

Investors will be able to access the fund for a minimum investment of £25 per month and will see all of the underlying positions in the fund, rather than just the top 10. Hargreaves Lansdown will also provide an explanation of why each share is held.

The investment team’s main objective is to grow capital over the longer term, so it won’t follow an income target. Nevertheless, Hargeaves expects the fund will pay a dividend.

The HL Select Global Growth Shares fund will have an ongoing charges figure of 0.6%. This is cheaper than 88% of the Investment Association’s Global sector and is 86% cheaper than 86% of all active equity funds, according to the investment platform.

Hargreaves Lansdown’s Vantage platform fee of up to 0.45% will also apply.

The HL Select Global Growth Shares fund will launch on 3 May at a £1 fixed launch price. Applications, which can be made via Hargreaves Lansdown’s website, are now open. The £1 fixed price offer will close at midnight on Thursday 2 May.

Manager Clayton explained: “We look for businesses that are in charge of their own destiny, which will grow through thick and thin, regardless of issues like Brexit. By taking a wary attitude to debt, we hope to shield investors from the worst of any future downturns, while capitalising on the upswings.”