Most-bought investments September 2024

• Investors seem less enthusiastic about technology in September, in what could be the start of a prolonged trend
• Scottish Mortgage loses its top spot to the BlackRock World Mining investment trust
• Fundsmith Equity edges back into the top 10 most-bought funds, having dropped off the list in August 
• Oil gained popularity last month, with BP and Shell in the top 10 most-bought equities 

interactive investor, the UK’s second-largest platform for private investors, reveals its most-bought equities, funds, and investment trusts in September 2024.

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This month, investors have been less interested in technology – with L&G Global Technology Index moving down to fourth place from its number one spot in our most-bought funds list, and Amazon dropping off our equities list entirely. 

Commodities gained popularity September, with BlackRock World Mining topping the list of most-bought investment trusts – shooting up from ninth place in August. This move knocked Scottish Mortgage down to second place, when it had previously held the top spot for almost a year. 

Fundsmith Equity also made its way back into the top 10 funds in September, following its shock fall from the list last month. It had previously held a spot in our top 10 since we began tracking most-bought investments in 2018. 

Oil also gained traction in September, with BP leading the equities list, and Shell also entering the top 10. 

Below, interactive investor’s experts explore September 2024’s most-bought data in more depth.

Funds and investment trusts

Commenting on the most-bought funds and trusts on ii in September, Kyle Caldwell, Funds and Investment Education Editor at interactive investor, says: “In what could be the start of a prolonged trend, investors have become less enthusiastic about technology shares over the past month. This is reflected in L&G Global Technology Index moving from first to fourth place in our top 10 most-bought funds’ list, Allianz Technology dropping from eighth to ninth place in our investment trust table, and Polar Capital Technology exiting the top 10 entirely. 

“Taking a long-term view, technology shares have been the place to be. Since the start of 2023, share prices have shaken off interest rate concerns and moved higher to reflect the future potential of artificial intelligence. However, whenever there’s a strong short-term period for a sector or theme, it’s prudent to reexamine whether your overall exposure needs trimming back to keep a lid on risk. 

“Also of note is that Scottish Mortgage is no longer the most-bought investment trust, a position it occupied for nearly a year. The growth trust has been knocked off the top spot by BlackRock World Mining, a commodity-focused portfolio.

“Other new entries include private equity trust 3i Group, while Terry Smith’s Fundsmith Equity returned to the funds’ table in 10th place having slipped out of the rankings last month for the first time since we started monitoring the data at the start of 2018.”

Equities 

Commenting on the most-bought direct equities in September, Richard Hunter, Head of Markets at interactive investor, says: “Global markets generally ended September on a sparkling note, with the Chinese authorities finally stepping up to the plate and with the main US indices continuing to test new record highs. With investors having assumed that the authorities were asleep at the wheel this year in the face of a faltering Chinese economy and consequently leaving those markets, the response has been huge if a little belated. The cumulative stimulus package, which was announced on subsequent days in the final week of September aimed to target the financial market, the property sector and general consumption with a mixture of increased spending and easier monetary policy.

“Having suffered something of a summer lull, NVIDIA Corp (NASDAQ:NVDA) shares have more recently returned to market darling status and continue to feature highly in the ii most-bought list. The shares added a further 12% in the month taking the year-to-date gain to a stellar 152%.

“Falls of over 9% for oil majors BP (LSE:BP.) and Shell (LSE:SHEL) over the month on the back of a weaker oil price were enough to lure back investors, with the additional attraction of generous dividend yields (5.7% and 4.2% respectively). Indeed, there was also the usual strong presence of the perennial income-generating stocks. Financial wealth providers and insurers Phoenix Group Holdings (LSE:PHNX) and Legal & General Group (LSE:LGEN) currently have dividend yields of 9.5% and 9.1% respectively, and were joined by the likes of Lloyds Banking Group (LSE:LLOY) (4.9%) and Rio Tinto Registered Shares (LSE:RIO) (6.1%).

“Elsewhere, the usual suspects were to be seen such as Rolls-Royce Holdings (LSE:RR.), which remains well regarded by investors with the share price adding another 14% in the month to now register a gain of 78% so far this year.”

MOST-BOUGHT INVESTMENTS ON INTERACTIVE INVESTOR (ii) IN SEPTEMBER 2024