Analysts at the platform said lead manager John Bailer was a "seasoned investor", with almost two decades' experience managing funds in the US equities space.
The portfolio invests across the all-cap US market, seeking firms which provide a balance of income today and dividend growth potential in the future.
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"We think the fund could be a good way to add US exposure to a global portfolio or could sit alongside other more growth focused US funds," HL said.
Bailer has run the fund since its launch in 2017 and is supported by managers Brian Ferguson and Keith Howell as well as the wider BNY Mellon 20-strong research team.
Hargreaves pointed to Bailer's due diligent investment process, conducting "detailed analysis" of the firms which the analysts said the manager has "done a good job over the long term for patient investors".
They added, "the fund offers something quite different to some of its peers in the IA North America sector and Bailer is well supported and resourced for the task at hand. This gives us confidence in the fund's long-term prospects", although they added there were "no guarantees".
The analysts did highlight the fund's heightened risk profile as every firm the portfolio holds must pay a dividend, creating a 30-60-strong portfolio, leading to the fund being "quite concentrated, meaning each investment can have a big impact on performance, increasing risk".