Top 10 best-selling investment trusts in July

Green energy has suddenly started to appeal to Fidelity’s investment trust customers. Three trusts that invest in renewable electricity generation – solar and wind farms – appeared in our top 10 list of most-bought listed funds in July. None of the three had previously featured on our best-seller list so far this year.

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The three trusts are The Renewables Infrastructure Group (TRIG), Foresight Solar Fund and Bluefield Solar Income Fund. They were respectively the fourth, sixth and seventh most popular listed funds among our customers last month. TRIG is predominantly a wind farm investor (83% of its assets are in wind assets) while Foresight Solar and Bluefield Solar, as you would expect, concentrate on solar farms, although both have a small amount of their money in energy storage assets.

Other green energy trusts to have featured in our top 10 lists so far this year have included Greencoat UK Wind in January and February and GCP Infrastructure Investments (largely a debt fund, with 59% exposure to renewable energy) in April.

We can see no obvious reason for this sudden increase in interest in green energy other than perhaps greater appreciation of these trusts’ yields at a time of falling interest rates. TRIG, Foresight Solar and Bluefield Solar yield 7%, 7.4% and 7.4% respectively while the Bank of England’s official rate has already fallen from a peak of 5.25% in summer last year to 4.25% currently and is widely expected to be cut again to 4% tomorrow. Not only do such declines in the interest rates payable on cash make the trusts’ yields more appealing on a relative basis but they tend to drive increases in the share prices of income-generating trusts as money shifts away from cash.

The one infrastructure trust to feature in Fidelity’s Select 50 list of favourite funds, International Public Partnerships (INPP), which was the eighth most bought investment trust by our customers in July (and June), does not own electricity generation assets, although it has some exposure to electricity transmission.

Away from green energy, the most popular trust in July was again Fidelity Special Values, which has enjoyed a strong run this year. Its share price has risen by 20.8% in 2025, compared with 12.1% for the FTSE 100 index. Please note past performance is not a reliable indicator of future results.

In second place, for the third month in a row, was Scottish Mortgage. It has recovered well since a slump in early April as sentiment collapsed in the wake of the ‘liberation day’ announcement of new American tariffs. From a low of 815p on 7 April the share price has now risen to £10.77. Shares in Polar Capital Technology, in third place in our July top 10, have followed a very similar trajectory.

After TRIG in fourth place came City of London, a perennial favourite thanks to its yield (currently 4.4%, not guaranteed) and unparalleled record of annual dividend increases. In the next three places were the two solar funds and INPP, followed by Fidelity China Special Situations at ninth and JPMorgan Global Growth & Income bringing up the rear.

Top 10 best-selling investment trusts on Fidelity Personal Investing in July 2025:

1. Fidelity Special Values
2. Scottish Mortgage
3. Polar Capital Technology Trust
4. The Renewables Infrastructure Group
5. City of London
6. Foresight Solar Fund
7. Bluefield Solar Income Fund
8. International Public Partnerships
9. Fidelity China Special Situations
10. JPMorgan Global Growth & Income

Source: Fidelity International. Gross investment trust sales in July 2025 for Personal Investors only.

• Read: Top 10 best-selling investment trusts in June
• Read: What investment trusts have investors bought so far this year?
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Important information - investors should note that the views expressed may no longer be current and may have already been acted upon. Before investing, please read the relevant key information document which contains important information about each investment trust. The shares in these investment trusts are listed on the London Stock Exchange and their price is affected by supply and demand. Investment trusts can gain additional exposure to the market, known as gearing, potentially increasing volatility. Select 50 is not a personal recommendation to buy or sell a fund. 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. Eligibility to invest in an ISA and tax treatment depends on personal circumstances and all tax rules may change in the future. 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.