Important information - the value of investments and the income from them can go down as well as up, so you may get back less than you invest.
Scottish Mortgage was the most popular investment trust among Fidelity clients in 2025. The giant trust, whose market value is £12.6bn, has recovered strongly since lows at the time of ‘Liberation Day’ in April and the share price of £11.74 at the time of writing is within a whisker of its high for the year so far. On 16 December the trust cheered investors when it almost doubled the valuation of its largest holding, SpaceX, in response to news of a share sale at Elon Musk’s space company.
The listed fund, which currently has much of its money in technology stocks, featured among the 10 most popular trusts on the Fidelity platform throughout the year and often topped the table.
The year’s second most popular trust has been Fidelity China Special Situations. This trust has had a good 2025; not only have the shares risen by 38.4% so far this year but they have handsomely beaten the MSCI China index’s 26.3% gain.
In the next two places are trusts that invest in British stocks, namely Fidelity Special Values and City of London. The UK stock market has performed well this year – the FTSE 100 has risen by 20.4%, compared with 15.6% for America’s S&P 500 – but these two trusts have both beaten the UK’s blue chip index with returns of 31.5% and 22.8% respectively.
Fidelity European was the fifth most popular trust among our customers. Clients who bought the trust may have been influenced by this year’s narrative that money was moving from America into other markets and certainly European stocks have done well this year with a 29.5% gain (MSCI Europe), although the Fidelity trust has risen by a smaller 19.5%.
In sixth place was International Public Partnerships, which invests in infrastructure assets in sectors such as transport, energy transmission and waste water. The trust, which is on Fidelity’s Select 50 list of recommended funds, has gained a modest 5% this year, although investors are also likely to be attracted by its dividend yield of 6.7%.
The final four funds in the top 10 best-sellers’ table all invest in global stocks. F&C and JPMorgan Global Growth & Income, in seventh and eighth places respectively, invest in a diversified variety of stocks, while in the final two places are two specialist technology funds, Allianz Technology and Polar Capital Technology. Share price gains for the four funds over the year so far are 12.5%, minus 2.3%, 24.1% and 31.6% respectively.
Top 10 best-selling investment trusts on Fidelity Personal Investing in 2025:
- Scottish Mortgage
- Fidelity China Special Situations
- Fidelity Special Values
- City of London
- Fidelity European Trust
- International Public Partnerships
- F&C
- JPMorgan Global Growth & Income
- Allianz Technology
- Polar Capital Technology
Source: Fidelity International. Gross investment trust sales 1 Jan to 10 December 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, 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. 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.
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