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Hargreaves Lansdown to launch ‘low cost’ equity funds

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Hargreaves Lansdown is launching a new range of own-managed, 'low-cost' equity funds.

The first fund, HL Select UK Shares, will launch on 1 December 2016 and sit in the IA UK All Companies sector. The fund will have a concentrated portfolio of 30 stocks.

The suite of funds will be available to investors with £25 a month to invest or £100 lump sum.

Investors will be able to see every holding in the fund, not just the top 10, and a breakdown by company and sector size.

When the manager buys or sells a position, Hargreaves Lansdown will inform investors via blog entries on a dedicated area of its site as well as through a direct email.

Lee Gardhouse, chief executive officer at Hargreaves Lansdown, said: “We are aiming to provide a new type of investor experience by offering access to an expertly managed portfolio of shares, in the convenience of a fund, with a new level of investor information and insight.”

The HL Select UK Shares fund will have an ongoing charges figure (OCF) of 0.6% and a Vantage platform fee of up to 0.45%.

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