Top 10 most-popular investment trusts: August 2025

In August, investors demonstrated an increased appetite for positioning portfolios towards the strong backdrop for technology, which is being driven by advancements in artificial intelligence (AI).

This is reflected in Allianz Technology Trust (LSE:ATT) re-entering our top 10 table for the first time since April and peer Polar Capital Technology (LSE:PCT) climbing two places to third.

Our table is based on the number of buys during the month among interactive investor customers, and the data is for real-time trades, which excludes regular investing.

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Many investors are shrugging off concerns from some investment professionals and commentators about valuations being potentially overheated on the back of the sector’s stellar performance over both short and long-term time frames.

The counterargument, neatly expressed by Ben Rogoff, manager of Polar Capital Technology Trust in a recent video interview with interactive investor (see links below), is that the tech sector typically commands high valuations for the potential high growth on offer.

Rogoff said: “For most of my career, the US tech sector hasn’t looked cheap and I think there are a lot of people who wish they’d been involved in what has been one of the best parts of the market for an extended period of time.”

• Watch our video: Polar Capital Technology: best and worst AI stocks
• Watch our video: Polar Capital Technology: AI means we’ll outperform the index

As ever, the key for investors is to step back and take a view on whether valuations are matched by growth expectations. If growth disappoints, share prices tend to take the strain.

While not a technology trust, Scottish Mortgage (LSE:SMT) is a big investor in the sector and is another way to tap into it. The Baillie Gifford-managed global portfolio slipped one place to second in August. Its one-year performance numbers, up 35.5% in share price total return terms, reveal a strong rebound following a tough time for its high-growth investment style in the period when UK interest rates rose from rock-bottom levels to peak at 5.25%.

Greencoat UK Wind (LSE:UKW) knocked Scottish Mortgage off its perch in August. This trust is one of three renewable energy infrastructure portfolios in the top 10 alongside NextEnergy Solar Fund (LSE:NESF) and Renewables Infrastructure Group (LSE:TRIG). The latter is a new entry this month, having last appeared in March.

This sector was also hurt by interest rate rises, but with rates now falling and expected to decline further, the high yields (the sector average is 9.6%) and deep discounts on offer are tempting some investors. However, unlike Scottish Mortgage, the trio haven’t staged a recovery, and all are posting losses over one and three years.

As well as tech shares, another area performing well are funds with a value investing approach, including Temple Bar (LSE:TMPL), which is sixth in our rankings. Value funds seek out companies or sectors they believe are mispriced and will, in time, recover their poise. 

Temple Bar has 70% invested in UK equities and the remainder overseas, including in Asian and North American shares. Its co-manager, Ian Lance, was recently interviewed as part of our fund manager video series and discussed how he manages his value-focused UK portfolio.

• Watch our video: two value buys – and why banks are still a bargain
• Watch our video: why UK shares can keep rising despite weak economy

Another noteworthy trend is investors seeking strategies that offer a mix of growth and income, reflected in the continued presence of City of London (LSE:CTY), JPMorgan Global Growth & Income (LSE:JGGI) and F&C Investment Trust (LSE:FCIT) in the top 10.

City of London mainly invests in FTSE 100 firms that demonstrate good prospects for growing their profits and dividends. It has been managed by veteran fund manager Job Curtis since 1991. This “Steady Eddie” investment trust is a reliable dividend payer, having increased payouts each year since 1966.  

JPMorgan Global Growth & Income is “style neutral”, meaning it does not favour value or growth, for example. It holds 50 “best idea” stocks, and looks to trim its winners and recycle the money into underperformers that it still has conviction in. The trust makes quarterly distributions with the intention of paying dividends totalling at least 4% a year. 

F&C Investment Trust takes a multi-manager approach to investing actively in global equities, with the aim of achieving both capital and income growth over the long term through a well-diversified portfolio. More than 400 companies are held. The trust invests predominantly across listed equities, but may also allocate to unlisted companies both via collective investments as well as by direct positions, typically within the range of 10-15% (now just over 10%). You can read our recent analysis of F&C Investment Trust in the link below.

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Henderson Far East Income Ord (LSE:HFEL) and 3i Group Ord (LSE:III) exited the top 10 in August.

Top 10 most-popular trusts in August 2025

Source: FE Analytics. Performance data to 28 August 2025. Note: the top 10 is based on the number of “buys” during the month of August. Past performance is not a guide to future performance.