Top 10 best-selling ISA and SIPP funds in August

August was another good month for investors. The world’s biggest companies reported strong financial results and UK interest rates hit their lowest level in more than two years. The US is also expected to cut rates in September, which gave an extra boost to business.

Amid all the cheerful news, however, a nervousness is setting in. Big Tech is bigger than ever - but can it keep delivering? And will the effects of President Trump’s trade war always feel this muted?

Fidelity’s personal investors have responded with a mixture of caution and optimism. Cash is still king, but some adventurous funds are also in demand.

Money market funds

In early August, the Bank of England lowered the base rate from 4.25% to 4.0%. Many analysts are expecting another cut by the end of the year.

Cash still holds a powerful allure for ISA and SIPP investors, however. The Fidelity Cash Fund topped the charts again in August. This ‘money market’ fund is very low risk and aims to track to UK interest rates.

The Royal London Short Term Money Market Fund is another popular option in this space, as is the Legal & General Cash Trust - a Select 50 pick.

The returns delivered by these funds have risen steeply since 2021 - as shown in the table below. As interest rates come down, however, so too will the returns of these cash-like investments.

• Read: How to make cash-like returns - without a cash ISA

Money market funds invest in different forms of short-term debt, including Treasury bills and certificates of deposit. Crucially, the holdings are very high quality, liquid, and diversified. This means the funds themselves are low-risk and stable - albeit slightly higher risk than a traditional savings account.

They’re typically used to hold money for short periods of time.

Past performance is not a reliable indicator of future returns

Source: Morningstar from 30.6.20 to 30.6.25. Basis bid to bid with income reinvested in GBP. Excludes initial charge.

Big Tech

The market breathed a sigh of relief when Nvidia reported its results last month. The world’s biggest company posted a 56% jump in quarterly sales, and a 59% leap in net income.¹

Nvidia’s results followed some upbeat announcements from other Big Tech firms. The global market is more concentrated than it has been since the 1960s, with the Magnificent 7 representing more than a fifth of the MSCI World Index.²

Some investors are leaning into this. The Legal & General Global Technology Index Trust has been an ISA favourite all year, and it returned to the SIPP best-sellers list in August. This passive fund tracks the FTSE World-Technology Index, and counts Nvidia, Microsoft, Apple, Meta and Broadcom - a lesser-known chip designer - as its top five holdings.

• Read: Is it too late to buy the Magnificent 7?

Other investors are seeking a different kind of sector exposure. The Fidelity Global Technology Fund is actively managed and steers away from the Magnificent 7. In fact, its exposure to the US as a whole is disproportionately low. Its biggest position is Taiwan Semiconductor Manufacturing Company (TSMC), which makes chips for Nvidia. Nvidia itself does not appear in the top 10 holdings.

Another way customers are gaining exposure to technology is via cheap tracker funds. The Fidelity Index World Fund - a SIPP and ISA favourite - invests in over 1,300 companies, but the Magnificent 7 account for almost a quarter of the portfolio.

Past performance is not a reliable indicator of future returns

Source: Morningstar from 30.6.20 to 30.6.25. Basis bid to bid with income reinvested in GBP. Excludes initial charge.

Europe calling

Interestingly, however, the Fidelity Index US Fund dropped out of the rankings in August. Instead, Fidelity customers are leaning towards Europe.

The Fidelity Special Situations Fund, for example, has climbed up the ISA rankings and is a new favourite among SIPP customers. Managed by Alex Wright and Jonathan Winton, the fund mainly invests in the UK and targets cheap companies with recovery potential. Top holdings include British American Tobacco, the Irish distributor DCC, and the Asia-focused bank Standard Chartered. Smaller players also feature, as there are no size constraints.

Other new faces are the Legal & General UK Index Trust Fund and the Artemis SmartGARP European Equity Fund. The latter made its debut on the ISA best-seller list last month and is now attracting the attention of SIPP customers too.

Artemis investment director Harry Eastwood is still sceptical about whether investor views have changed for good, however.

‘The European mid cap space has become more interesting’ he says. ‘But if you look at flows into European equities, it’s a blip in a longer-term history of outflows to the US. The dial hasn’t shifted that much.’

• Read: GARP? A deep dive into a best-selling fund

Past performance is not a reliable indicator of future returns

Source: Morningstar from 30.6.20 to 30.6.25. Basis bid to bid with income reinvested in GBP. Excludes initial charge.

Income majors

ISA and SIPP investors also share a desire for dividends. The Fidelity Global Dividend Fund and Artemis Global Income Fund are some of the most consistently popular funds on the Fidelity platform.

The former is an actively managed fund that targets companies with healthy yields underpinned by rising income. The portfolio invests across a variety of sectors and geographies, offering a good level of diversification (the US represents just 25% of the portfolio). It has a penchant for industrials stocks, however, and is underweight technology.

The Artemis Global Income Fund has a different focus. It is heavily weighted towards the financial sector and has some chunky exposure to emerging markets. Like the Fidelity fund, however, it has limited its US holdings and is looking for generous dividend yields. Free cash flow is its key metric for the fund.

Past performance is not a reliable indicator of future returns

Source: Morningstar from 30.6.20 to 30.6.25. Basis bid to bid with income reinvested in GBP. Excludes initial charge.

Best-selling ISA funds in August

1. Fidelity Cash Fund
2. Fidelity Index World Fund
3. Artemis Global Income Fund
4. Royal London Short Term Money Market Fund
5. Legal & General Global Technology Index Trust
6. Fidelity Global Dividend Fund
7. Fidelity Special Situations Fund
8. Artemis SmartGARP European Equity Fund
9. Fidelity Global Technology Fund
10. Legal & General UK Index Trust

Source: Fidelity International. Gross ISA sales 1 August to 31 August 2025 for Personal Investors only.

• Open a Fidelity Stocks and Shares ISA

SIPP - Best-selling funds

1. Fidelity Cash Fund
2. Fidelity Index World Fund
3. Royal London Short Term Money Market Fund
4. Legal & General Cash Trust
5. Artemis Global Income Fund
6. Fidelity Global Dividend Fund
7. Artemis SmartGARP European Equity Fund
8. Legal & General Global Technology Index Trust
9. Legal & General Global Equity Index Fund
10. Fidelity Special Situations Fund

Source: Fidelity International. Gross SIPP sales 1 August to 31 August 2025 for Personal Investors only.

• Open a Fidelity Self-Invested Personal Pension

Source:

1 Nvidia, 27 August 2025

2 MSCI ACWI Index, 29 August 2025

Important information - investors should note that the views expressed may no longer be current and may have already been acted upon. Before investing into a fund, please read the relevant key information document which contains important information about the fund. Eligibility to invest in a SIPP or ISA and tax treatment depends on personal circumstances and all tax rules may change in the future. Withdrawals from a SIPP will not normally be possible until you reach age 55 (57 from 2028). Overseas investments will be affected by movements in currency exchange rates. Investments in emerging markets can be more volatile than other more developed markets. Reference to specific securities should not be construed as a recommendation to buy or sell these securities and is included for the purposes of illustration only. There is a risk that the issuers of bonds may not be able to repay the money they have borrowed or make interest payments. When interest rates rise, bonds may fall in value. Rising interest rates may cause the value of your investment to fall. An investment in a money market fund is different from an investment in deposits, as the principal invested in an money market fund is capable of fluctuation. Fidelity’s money market funds do not rely on external support for guaranteeing the liquidity of the money market funds or stabilising the NAV per unit or share. An investment in a money market fund is not guaranteed. This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of financial adviser or an authorised financial adviser of your choice.