Interactive Investor

Most-bought investments: November 2023

Scottish Mortgage is back on top, India steals the spotlight, and investors look for ‘jam today’.

5th December 2023 11:38

Camilla Esmund from interactive investor

  • Scottish Mortgage has returned to pole position after being pushed into second place in last month's top 10 by City of London
  • For the second successive month, Royal London Short Term Money Market tops the table as the most-bought investment fund among interactive investor customers 
  • Most of the top 10 most-bought investment trusts on ii in November pay an income, the exception being new entry – India Capital Growth

Below, experts from interactive investor examine ii investor behaviour and popular investments during the month of November. 

Direct equities

Keith Bowman, Investment Analyst, interactive investor, explains: “Alcoholic drinks maker Diageo (LSE:DGE) became a popular buy in November following its profit warning. The FTSE 100 company whose products include Johnnie Walker whiskey and Guinness, warned of slower than expected sales for its Latin American and Caribbean region as economic headwinds had caused consumers to trade down to cheaper brands. Investors may now be focusing on Diageo’s long-term track record, with more than 15 consecutive years of growth in its dividend payment and an estimated future income yield of close to 3% a potential attraction. 

“Commercial and military aircraft engine maker Rolls-Royce Holdings (LSE:RR.) again returned to the ii most bought equities list. Under still relatively new chief executive, Tufan Erginbilgic, the FTSE 100 company in November detailed a series of medium-term financial targets that were stronger than even the most optimistic City analyst forecasts. Rolls Royce shares remain comfortably the best FTSE 100 performer year-to-date, climbing over 200%, with investors likely hoping for continued momentum.

“Mining company Glencore (LSE:GLEN) stayed popular with ii investors. In mid-November the FTSE 100 company finally struck a deal with Canadian miner Teck Resources. The deal boosted hopes that Glencore can eventually separate out its coal mining business, leaving investors able to buy just the more climate friendly business balance going forward.”

Funds 

Kyle Caldwell, Deputy Collectives Editor, interactive investor, says: “Looking at investment trust and funds land in November, it seems that although some investors are dialling down on risk, other investors are happy to take a more adventurous approach.

“L&G Global Technology Index, for example, has jumped up five places and is now in third-place position. Over the past year, this passive index fund has been benefiting from advancements in, and the future potential of, artificial intelligence (AI). The so-called Magnificent Seven technology companies have seen their share prices sizzle on the back of investors buying in to gain exposure to the trend*. 

“Another adventurous strategy in favour with ii investors over November is Jupiter IndiaFunds have poured into Indian equities and bonds at a very rapid rate this year, often at the expense of China. Another driver is that India's stock market has been enjoying a purple patch. The S&P BSE 100 Index has been the best-performing market since Covid, up 149% from 3 April 2020 to 27 November 2023. In second place is the Nasdaq 100 index, which has gained 112%.

“India has plenty of attractions as an investment destination. It has a young population, with around a quarter of the world’s under-25s. This young population is part of an expanding middle class, which is expected to fuel economic growth in the decades to come. In addition, Prime Minister Narendra Modi’s reforms, such as the unification of taxes and demonetisation, are expected to benefit the economy.

However, plenty of investors are still going for global exposure. With HSBC FTSE All-World IndexVanguard LifeStrategy 100% EquityVanguard FTSE Developed World ex-UK Equity Index, and Vanguard FTSE Global All Cap Index, all proving popular.”

Investment trusts

Caldwell adds: “Income remains front-and-centre for many investors, in an attempt to receive some “jam today,” particularly while battling inflation. This trend is reflected in most constituents in the top 10 for November paying an income, apart from new entry into the top 10 -India Capital Growth Ord (LSE:IGC)

“The ‘growth’ focus of India Capital Growth means it is actually the outlier in the top 10 for November, by not paying any income. Interestingly, too, India Capital Growth’s one-and three-year returns are the highest in the top 10 – no wonder it has caught the attention of ii investors.”

Top 10 most-bought investments on interactive investor in November 2023

Fund

Investment trust

Equity

1

Royal London Short Term Money Mkt

Scottish Mortgage Ord (LSE:SMT)

BP (LSE:BP.)

2

Fundsmith Equity

Greencoat UK Wind (LSE:UKW)

 

Rolls-Royce Holdings (LSE:RR.) 

3

L&G Global Technology Index

City of London Ord (LSE:CTY)

 

Glencore (LSE:GLEN)

4

Vanguard LifeStrategy 80% Equity

JPMorgan Global Growth & Income Ord (LSE:JGGI)

Vodafone Group (LSE:VOD)

5

Jupiter India

BlackRock World Mining Trust Ord (LSE:BRWM)

Diageo (LSE:DGE) 

6

HSBC FTSE All-World Index

India Capital Growth Ord (LSE:IGC)

Lloyds Banking Group (LSE:LLOY)

7

Vanguard LifeStrategy 100% Equity

Alliance Trust Ord (LSE:ATST)

Quantum Blockchain Technologies (LSE:QBT)

8

Vanguard US Equity Index

Gore Street Energy Storage Fund Ord (LSE:GSF)

Tesla Inc (NASDAQ:TSLA)

9

Vanguard FTSE Developed World ex-UK Equity Index

Henderson Far East Income Ord (LSE:HFEL)

 

Petrofac Ltd (LSE:PFC)

10

Vanguard FTSE Glb All Cap Idx

Merchants Trust Ord (LSE:MRCH)

GSTechnologies Ltd (LSE:GST)

These articles are provided for information purposes only.  Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties.  The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.

Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.