Top 10 best-selling ISA and SIPP funds in January

Cash and American stocks: these are the investments that proved most popular among Fidelity customers in January.

Admittedly, some of those investors may not have realised just how much they were committing to the US because a lot of their money went into funds labelled as global. But such is the dominance of the American stock market at present, partly thanks to the ‘Magnificent 7’ tech giants, that as much as three quarters of a ‘global’ fund may in fact be invested on Wall Street.

Alongside their enthusiasm for US-heavy global funds, Fidelity’s ISA and SIPP customers did choose some avowedly American funds. We should also say that some of the global stock market funds they bought focused on technology stocks. Here then are the details of the most popular funds, on the basis of gross sales, that our customers put money into in January.

Cash funds

Money-market funds, which invest in cash-like assets such as short-term loans to banks, remained very popular; they accounted for three of the top-10 choices among SIPP clients and two among ISA customers (a third cash fund was in 11th place). These funds were also widely bought last year. The Fidelity Cash Fund took the top spot for SIPPs and was in second place for ISAs in January. The Royal London Short Term Money Market Fund was in third place for SIPPs and 10th place for ISAs. The Legal & General Cash Trust occupied the 9th slot among SIPPs and was just outside the top 10 for ISAs. The popularity of these funds no doubt reflects the rise in interest rates over the past couple of years where some of these funds paid an income of about 5% a year. Please note this yield is not guaranteed.

Global funds

Funds that invest in stocks from around the world accounted for six of the 10 top spots on both the ISA and SIPP bestseller lists, although, as mentioned above, the label ‘global’ is far from a guarantee of balanced worldwide exposure at present, such is the American dominance of global stock market indices.

The Fidelity Index World Fund was the most bought ISA fund and the second most popular among SIPP investors in January. But that fund has 73.9% of its money in US stocks, according to the most recent portfolio breakdown. Similarly, the Legal & General Global Technology Index Trust, in third position for ISAs and fourth for SIPPs, has 86.3% of its money in American shares, which reflects the even greater pre-eminence of US companies in the tech sector. However, the Fidelity Global Technology Fund, the seventh most popular ISA fund (it did not appear on the SIPP top-10 list), has 59.1% of assets in the US.

The Fidelity Global Dividend Fund, the fourth most popular ISA choice and fifth most popular SIPP fund, has just 30.4% of its assets in American stocks, behind the 36.1% invested in the eurozone. This reflects the concentration of growth stocks on Wall Street and the relative scarcity of high yielders.

But the Legal & General Global Equity Index Fund, in seventh spot for SIPP clients and ninth for ISAs, is another to fit into the ‘global means largely American’ pattern: 69.3% of its investments are US shares.

Three other global equity funds featured on the list: Vanguard LifeStrategy 80% Equity (eighth most bought among SIPP clients), Fidelity Multi Asset Allocator Growth (10th most bought for SIPPs) and Rathbone Global Opportunities (eighth most bought for ISAs). Their respective exposures to America are 52.2%, 64.4% and 68.5%.

US funds

The remaining places in our tables of most bought funds were occupied by funds that invest exclusively in America. The Fidelity Index US Fund was the fifth most popular ISA fund and the sixth most bought SIPP fund, while the UBS S&P 500 Index Fund was in sixth position on the ISA table, although it did not feature among the 10 most popular SIPP funds.

Top 10 best-selling ISA funds on Fidelity Personal Investing in January 2025

1. Fidelity Index World Fund
2. Fidelity Cash Fund
3. Legal & General Global Technology Index Trust
4. Fidelity Global Dividend Fund
5. Fidelity Index US Fund
6. UBS S&P 500 Index Fund
7. Fidelity Global Technology Fund
8. Rathbone Global Opportunities Fund
9. Legal & General Global Equity Index Fund
10. Royal London Short Term Money Market Fund

Top 10 best-selling SIPP funds on Fidelity Personal Investing in January 2025

• Fidelity Cash Fund
• Fidelity Index World Fund
• Royal London Short Term Money Market Fund
• Legal & General Global Technology Index Trust
• Fidelity Global Dividend Fund
• Fidelity Index US Fund
• Legal & General Global Equity Index Fund
• Vanguard LifeStrategy 80% Equity Fund
• Legal & General Cash Trust
• Fidelity Multi Asset Allocator Growth Fund

Source: Fidelity International. Gross ISA and SIPP sales in January 2025 for Personal Investors only.

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. 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 Fidelity’s advisers or an authorised financial adviser of your choice.