10 hottest ISA shares, funds and trusts: week ended 10 May 2024

With the new tax year under way, we look at the investments ii customers have been buying within their ISAs during the previous week. The data includes only real-time trades, not regular investing instructions, and combines the use of both existing funds and new money.

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Top 10 shares in ISAs

There’s a new look at the top of the table this week. For the first time this year, BP was the most popular stock among ii customers investing in ISAs.

Plenty of investors were happy to buy up cheap BP shares following a poor response to first-quarter results. Profit and cash flow fell by more than expected and there are concerns about refining margins following a US refinery power outage earlier this year. BP shares fell as much as 3.9% following the numbers to a six-week low.

Another surprise came from easyJet which made its first appearance in the ISA top 10. Again, it seems a 7.7% slump in the share price to its lowest since January had bargain hunters out in force.

The fall came amid press reports that Ryanair CEO Michael O'Leary had issued a warning about summer ticket fares. Rather than rising 5-10%, prices were only likely to be up flat to 5%, according to Reuters. That sent a ripple of dissent around the airlines sector, with most carriers on the backfoot.

easyJet publishes half-year results on Thursday 16th.

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At the bottom of the list, Rolls-Royce bounced back after dropping out of the top 10 last week. It had fallen to 12th spot following 11 consecutive weeks in the top 10. The shares hit a high of 440.4p mid-morning Friday before giving back most of the week’s gains during the afternoon.

But Legal & General lost some of its popularity, dropping eight places to 10th, it’s worst position since the start of March when it spent a week outside the top 10.

Top 10 funds and trusts in ISAs

Scottish Mortgage Ord (LSE:SMT) reclaimed top spot on the most-bought funds and trusts inside ISAs last week, knocking Vanguard LifeStrategy 80% Equity A Acc (B4PQW15) down one place. 

Scottish Mortgage shares have rallied 12% this year, buoyed by the announcement of a £1 billion share buyback programme. The discount to net asset value has narrowed to 6% after plunging to around 20% a year ago.   

Other rises last week were Jupiter India I Acc (B4TZHH9), which rose one place to third, Royal London Short Term Money Mkt Y Acc (B8XYYQ8), which rose one place to fourth, and L&G Global Technology Index I Acc (B0CNH16), up three places to fifth. 

They knocked Fundsmith Equity I Acc (B41YBW7) down to sixth place. The £25.5 billion global fund managed by Terry Smith is up around 10% this year, which is just below the return of the MSCI World index that it attempts to beat.

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Greencoat UK Wind (LSE:UKW) and Vanguard U.S. Eq Idx £ Acc (B5B71Q7) were new entries in seventh and tenth respectively. It is the first time they have made the list since early April. 

Rounding off the list last week were HSBC FTSE All-World Index C Acc (BMJJJF9) and Alliance Trust Ord (LSE:ATST). Fidelity Index World A Acc (B807567) and JPMorgan Global Growth & Income Ord (LSE:JGGI) dropped off.

Funds and trusts section written by ii’s deputy collectives editor Sam Benstead.