The artificial intelligence buying frenzy witnessed in the first half of the year has eased among retail investors, according to Numis analysis of the most-bought investment trusts on platforms AJ Bell, Interactive Investor and Fidelity.
Over the first six months of the year, tech-themed investment trusts such as Polar Capital Technology and Allianz Technology gained popularity and made their way onto the buylists of the three platforms.
However, by August investors had turned back to the ‘household names’, with tech-themed trusts failing to make the cut.
Scottish Mortgage took top spot on all three buylists in the month, while City of London, and F&C all featured highly.
Numis analysts Gavin Trodd and Ewan Lovett-Turner said: “The ‘usual suspects’ dominate the lists in August, including City of London and F&C IT, as well as Scottish Mortgage.
“JPM Global Growth & Income is cementing its place as a regular feature on the lists following several mergers, including with Scottish IT, and a period of strong performance, particularly if compared to Global Equity Income investment companies.”
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Most bought investment companies in August
| Name | Sector | AJ Bell | Interactive Investor | Fidelity |
|---|---|---|---|---|
| Scottish Mortgage | Global | 1 | 1 | 1 |
| Greencoat UK Wind | Renewable Energy Infrastructure | 3 | 2 | 4 |
| City of London | UK Equity Income | 7 | 3 | 2 |
| F&C IT | Global | 2 | 4 | 5 |
| JPM Global Growth & Income | Global | 6 | 5 | 3 |
| Blackrock World Mining | Mining | – | 6 | – |
| Alliance Trust | Global | – | 7 | – |
| Renewables Infrastructure Group | Renewable Energy Infrastructure | – | 8 | – |
| Merchants | UK equity income | 5 | 9 | – |
| Murray International | Global | 8 | 10 | – |
| Personal Assets | Flexible Investment | 4 | – | – |
| TR Property | Property | 9 | – | – |
| Henderson Far East Income | Asia Pacific | 10 | – | – |
After three months away from any of the most bought lists, Murray International returned in August in the same month where manager Bruce Stout announced he would retire in 2024.
Meanwhile, trusts with a renewable energy focus have become regular features in the top 10 most bought lists this year. In August, the Greencoat UK Wind investment trust was the second most bought on Interactive Investor and third on AJ Bell.
There has also been an uptick in interest for private equity trusts in 2023, with 3i Group and Pershing Square occasionally appearing on the platforms most-bought lists.
Trodd and Ewan Lovett-Turner added: ” Looking across the whole of 2023, there is a significant degree of consistency across the lists and over time. This is to be expected as many investors will have built large positions in specific trusts over many years and we expect investing via regular saving will reinforce a consistency of lists.”
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