Important information - investment values and income from investments can go down as well as up, so you may get back less than you invest.

Investing is personal. People have very different goals, attitudes to risk, and amounts of money to play with. Sometimes, though, it’s useful to know what everyone else is doing. To help with this, we have dived into the data to find the best-selling funds of 2025.

Clamour for cash 

When it comes to popularity, one asset class reigned supreme this year: cash. Both ISA and SIPP investors piled into money market funds, which have benefited from higher interest rates since 2022. 

The Fidelity Cash Fund was by far the most popular fund on the platform, while the Royal London Short Term Money Market Fund and the Legal & General Cash Trust also appeared in our top 10. 

Money market funds roughly track UK interest rates. They 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.

The funds above have been achieving annual growth of over 4% for the past three years - in exchange for very little capital risk. As interest rates come down, however, they risk losing some of their shine. The Bank of England lowered interest rates to 3.75% this month, down from 4.75% in January, and 5.25% at their post-Covid peak. Consensus forecasts suggest the UK base rate will settle at 3.25% by the end of 2026.1

Money market funds have been attracting more attention than usual since the government announced plans to reduce the cash ISA allowance to £12,000 for under 65s. As they are a form of investment, the funds are held within stocks and shares ISAs, meaning they are not affected by the cut - despite offering cash-like returns. 

It may not stay this way forever, however. To stop people dodging the new rules, the government plans to introduce tests to determine whether an investment is eligible to be held in a stocks and shares ISA or whether it is ‘cash like’.

Rockin’ all over the world

Fidelity Index World remained popular with SIPP and ISA customers this year. This passive fund is a straightforward, low-cost way to invest in developed countries around the globe. In recent years, however, global trackers have become heavily skewed towards North America.

At the time of writing, over 70% of the Fidelity fund’s portfolio is allocated to US equities, and 5% is invested in Nvidia alone. This means that the one semiconductor company represents more of the global index than the UK and Australia combined.2

While a global tracker may seem like an easy way to diversify your portfolio, therefore, its performance will be heavily influenced by a small number of mega-caps based in Silicon Valley.

Tech titans

Investors have been upping their exposure to Big Tech in other ways too. The Legal & General Global Technology Index Trust was an ISA and SIPP favourite this year. This is a passive fund that tracks the FTSE World-Technology Index.

The fund holds 255 companies in total, but it is heavily weighted towards the ‘Magnificent Seven’.  Nvidia, Apple and Microsoft alone represent over 40% of the portfolio, and the top 10 holdings represent over 70% of the fund. This has yielded some spectacular results in the past, with annual returns frequently exceeding 30%.3

Tech lovers have also been buying the Fidelity Global Technology Fund. This is a different kettle of fish to L&G’s index tracker. For starters, it is actively managed, with portfolio manager HyunHo Sohn striving to beat the benchmark.

Sohn has limited the fund’s exposure to the Magnificent Seven and has upped its exposure to countries like Taiwan, China, South Korea and the Netherlands. Its top holding is Taiwan Semiconductor Manufacturing Company (TSMC), which makes chips for Nvidia. Nvidia itself, however, is not one of the top 10 holdings.

It is worth noting that investors seem slightly less excited by Big Tech than they were last year. The tech-focused funds are further down the rankings than in 2024, and the Fidelity Index US Fund has slipped into 10th position.

Hunt for income

The quest for explosive growth has been somewhat overshadowed by a desire for dividends. The Artemis Global Income Fund gained favour with SIPP investors this year, and the Fidelity Global Dividend Fund was also a hit.

Known for its contrarian approach, Artemis Global Income targets undervalued, dividend-paying stocks. Its portfolio is made up of 87 companies and has a strong emphasis on free cash flow. It has achieved a historic dividend yield of 2.4%.4

The fund also stands out for its focus on lesser-known companies. While familiar names like Samsung and Pfizer feature among its top holdings, others - such as Hanwha Aerospace and Hon Hai Precision - are less widely covered in the UK.

Artemis has benefited from favourable structural trends. Aerospace and defence stocks have been key drivers of recent outperformance. Its significant exposure to financials has also proved advantageous in the current high-interest rate environment.

Fidelity Global Dividend Fund is another useful diversifier in a world driven by Big Tech. The actively managed fund significantly underweights the US, prioritising the UK and Europe instead. Its top three holdings as of November are Taiwan Semiconductor Manufacturing Company (TSMC), Unilever, and Swiss health giant Roche.5

Fidelity investment director Tom Stevenson named the Fidelity Global Dividend Fund as one of his top picks for 2025. ‘It’s one of the longest-standing holdings in my own portfolio which has served me very well over the years,’ Tom said. ‘It has delivered steady growth, despite being underweight the US equities which have driven markets higher.’

Homeward bound

ISA investors have been enticed by the UK this year, with the Fidelity Special Situations Fund and Legal & General UK Index Trust Fund both making it into the top 10.

The FTSE All-Share - which the L&G fund aims to track - has had a great year, delivering total returns of over a fifth and overtaking the S&P 500. Its performance has been driven by banking and defence stocks.

Fidelity Special Situations has also been enjoying a strong run. Managed by Alex Wright and Jonathan Winton, the fund mainly invests in the UK and targets cheap companies with recovery potential. Top holdings include the Irish distributor DCC, the Asia-focused bank Standard Chartered and insurance giant Aviva. Smaller players also feature, as there are no size constraints.

Multi-asset approach

Last but not least: multi-asset funds.

The Fidelity Multi Asset Allocator Growth Fund is split roughly 60/40 between more adventurous investments like shares and safer assets like bonds. This makes it a useful diversifier - particularly for SIPP investors who may have a lower risk tolerance. By spreading their money across different asset classes, investors are hoping for smoother returns over the long term. Historically, stocks and bonds have moved in opposite directions, although this hasn’t always played out.

The Fidelity Multi Asset Allocator Growth Fund forms the basis of Fidelity’s Retirement Builder, a fuss-free investment option for customers who want stable growth and a diversified portfolio.

ISA - Best-selling funds of 2025

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

Source: Fidelity International. Gross ISA sales 1 Jan to 10 December 2025 for Personal Investors only.

SIPP - Best-selling funds of 2025

  1. Fidelity Cash Fund
  2. Royal London Short Term Money Market Fund
  3. Fidelity Index World Fund
  4. Legal & General Cash Trust
  5. Fidelity Global Dividend Fund
  6. Legal & General Global Technology Index Trust
  7. Artemis Global Income Fund
  8. Fidelity Global Technology Fund
  9. Fidelity Multi Asset Allocator Growth Fund
  10. Fidelity Index US Fund

Source: Fidelity International. Gross SIPP sales 1 Jan to 10 December 2025 for Personal Investors only.

Got a burning question you want to ask? Why not drop us a line. Click here to ask your question.

Source:

1FactSet consensus forecasts, December 2025

2 Fidelity World Index Fund factsheet, December 2025

3 Legal & General Global Technology Fund factsheet, December 2025

4 Artemis Global Income Fund factsheet, December 2025

5 Fidelity Global Dividend Fund factsheet, December 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 Fidelity’s advisers or an authorised financial adviser of your choice.

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