From around the world, 29 companies have made it into the fund with a further 5 to be finalised, fund manager Steve Clayton has announced.
Over half the money has been invested in North America, largely in the USA, and they’ve also bought CAE, a Canadian business that leads the market for providing pilot training and simulators.
There’s a strong technology tilt to both HL Select’s US holdings and the portfolio as a whole. Internet giants Amazon and Google’s owner Alphabet are there, due to their dominant positions in huge swathes of the modern economy.
They’re also backing ServiceNow, a cloud-based IT service provider with enormous growth potential.
Microsoft’s Windows and Office software suite are eternal franchises that are expected to be seen throwing off cash far into the future, and their Azure platform is at the cutting edge of cloud computing.
Ageing populations mean rising numbers of people in need of healthcare. The fund is backing niche healthcare businesses around the world, like Masimo, which leads the market in measuring patient blood oxygen levels, or West Pharmaceuticals which dominates the market in sealing solutions for liquid pharmaceutical packaging.
In financial services HL Select has chosen not to hold any traditional banks, instead backing companies serving the vital payments market, like Paypal and Mastercard. Elsewhere in financials, Charles Schwab is a leading platform for self-directed investors in the USA.
The best of British is in the fund too. Four names from sister fund HL Select UK Growth Shares are in the portfolio, including Burford Capital, the world’s leading litigation finance business, and drinks giant Diageo.
In Denmark, Coloplast leads the market to provide continence care globally, whilst Christian Hansen is using its strength in enzyme and pro-biotic science to develop natural solutions to challenges in human, animal and plant health.
In the eastern hemisphere, the fund has bought into Tencent, a leading Chinese internet company listed in Hong Kong, and Japan’s leading beauty company Shiseido.