Top 10 most-popular investment trusts: April 2026

Growth funds have been flavour of the month among ii customers, with Scottish Mortgage Ord (LSE:SMT), Seraphim Space Investment Trust Ord (LSE:SSIT) and Polar Capital Technology Ord (LSE:PCT)topping our bestseller list for April.

Our data, which excludes regular investing and gives a sense of the more tactical buys ii customers have made in the last month, puts Scottish Mortgage in the top spot for the second month in a row.

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Scottish Mortgage, like many a fund with a growth focus and a link to the artificial intelligence (AI) theme, has rebounded strongly in April, with the shares returning 18.4%.

The trust has even seen its shares return to a premium to net asset value (NAV), prompting it to issue shares for the first time in years.

It’s likely the mooted SpaceX initial public offering (IPO) has been driving much of the gain for SMT in recent times, what with the company representing almost a fifth of the portfolio on the back of upward valuations.

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With the Baillie Gifford-managed Edinburgh Worldwide Ord (LSE:EWI) seeing its board overthrown by Saba this week, Scottish Mortgage is arguably the most straightforward way to own SpaceX now.

Sticking with the space trend, we see Seraphim Space, which continues to generate huge returns on the back of space exploration excitement and rising defence spending, move up five slots into second place.

The shares trade on a hefty premium but investors do have a cheaper, if riskier, way into the portfolio via a C share issuance currently under way. Our analysis of the issuance gives investors the pertinent details about this.

Polar Capital Technology, another growth fund and major beneficiary of the market rebound witnessed in April, moves up to third place.

More income, more ‘bargains’

Investors have once again shown plenty of appetite for income, with some of the usual suspects remaining popular. And in some cases this involves buying out-of-favour trusts.

Note, for example, the presence of both Greencoat UK Wind (LSE:UKW) and new entrant Renewables Infrastructure Grp (LSE:TRIG) in the table.

Renewable energy infrastructure trusts have suffered a fresh blow after the government said it would legislate to remove the Carbon Price Support, a tax on fossil fuels used in electricity generation, from April 2028.

That means the electricity prices used by the renewable trusts could fall, putting a dent in their portfolio NAVs at least in the short term. But names such as UKW and TRIG still come with some big share price dividend yields.

Another favourite, Henderson Far East Income Ord (LSE:HFEL), has drifted up to sixth place.

As we’ve discussed before, this is the highest-yielding equity investment trust out there, with its yield coming to around 9.5%.

But the shares are not cheap, trading on a premium of almost 4% to NAV, and, as we have noted before, the fund does tend to lag the competition when it comes to total returns.

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The income focus is also evident via the presence of ‘dividend hero’ City of London Ord (LSE:CTY) and outperforming UK value fund Temple Bar Ord (LSE:TMPL), which returns to the bestseller list, in the table.

We recently looked at the quirks of the Temple Bar portfolio, and what UK funds investors might wish to hold alongside it.

Beyond that, investors have continued to buy into the battered 3i Group Ord (LSE:III), presumably betting that things will continue to work out well for its main holding Action in the wake of expansion plans.

However, it falls down by four slots, suggesting the bargain-buying frenzy may have calmed somewhat.

We have also seen some investors keep it simple by investing in F&C Investment Trust Ord (LSE:FCIT), a global fund that doesn’t deviate too much from its underlying benchmark. F&C has substantially outperformed its closest rival, Alliance Witan Ord (LSE:ALW), over the last 12 months.

A couple of names, BlackRock World Mining Trust Ord (LSE:BRWM) and Supermarket Income REIT REIT (LSE:SUPR), exited the list in April.

BRWM had a volatile March sell-off thanks to its substantial gold exposure, while Supermarket Income REIT was one name highlighted in our recent analysis of the remaining property trusts.

Top 10 most-popular investment trusts in April

Source: FE. The top 10 is based on the number of buys in April. Past performance is not a guide to future performance.