Top 10 best-selling investment trusts in November

A ‘mini Scottish Mortgage’ joined the more familiar original in November’s investment trust best-sellers’ list.

For the first time this year Chrysalis Investments appeared in the table of trusts most bought by Fidelity customers. The £554m listed fund, in 10th position in the table, invests in fast-growing companies, quoted and private, rather in the way that the £11.6bn Scottish Mortgage does.

Chrysalis invests in ‘innovative businesses with the potential to disrupt and transform huge addressable markets’ – a mission statement not unlike Scottish Mortgage’s ‘we aim to own the world’s most exceptional public and private growth companies. Chrysalis does run a much more concentrated portfolio, however, with just eight holdings against Scottish Mortgage’s 100 or so. So far this year the two trusts have gained 1.6% and 11% respectively.

Scottish Mortgage itself returned last month to the top of the best-sellers’ table, a position it last held in April. It was in fifth place in October.

In second place in November was Fidelity China Special Situations, down from the top spot the previous month. The trust has benefited from China’s reappearance on international investors’ radar after a period in which the country was widely written off as ‘uninvestable’.

The next two places in the top 10 were occupied by technology trusts, Polar Capital Technology and Allianz Technology. The former rose from sixth position in October while the latter climbed from eighth. Although there is increasing talk of a bubble in American AI shares, Wall Street’s tech-dominated Nasdaq index remains close to its record high.

Dramatically different from technology funds is the next trust in the top 10, Personal Assets at number five, its first appearance in the table since February. This trust’s aim, in its own words, is to ‘protect and grow (in that order) the value of your investment over the long term’ (the italics are the trust’s). It protects shareholders’ capital by holding a diversified basket of assets, including gold bullion and bonds, some of them inflation-linked, issued by countries such as Britain, America and Japan, alongside blue-chip stocks such as Unilever, Visa and Microsoft. The trust has gained a fraction less than Scottish Mortgage this year at 10.9% but with far less volatility.

The next three places are taken by trusts that invest in Britain. Fidelity Special Values (placed third in October) and City of London (seventh in October) hold London-listed stocks while Greencoat UK Wind (absent in October) invests, naturally enough, in wind farms. The latter two funds appeal to income investors thanks to yields of 4.2% and 7.5% respectively.

In ninth place, down from second, is F&C, the world’s oldest investment trust, which holds a global portfolio of stocks. Bringing up the rear, as mentioned above, is Chrysalis Investments.

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

1. Scottish Mortgage 
2. Fidelity China Special Situations
3. Polar Capital Technology 
4. Allianz Technology 
5. Personal Assets 
6. Fidelity Special Values 
7. City of London 
8. Greencoat UK Wind 
9. F&C 
10. Chrysalis Investments

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

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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. Overseas investments will be affected by movements in currency exchange rates. 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. Investments in emerging markets can be more volatile than other more developed markets. The shares in these investment trusts are listed on the London Stock Exchange and their price is affected by supply and demand. The investment trust can gain additional exposure to the market, known as gearing, potentially increasing volatility. 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.