Income fund favourites jostle with more adventurous rivals in ii's November most bought
Investors in trusts returned to a familiar favourite in Scottish Mortgage, which reclaimed the head of the rankings after being knocked into second place last month by City of London
According to the latest platform purchases data from interactive investor, Royal London Short Term Money Market topped the most bought funds list as investors parked their cash with a safe haven stalwart, followed by a regular in the rankings, Fundsmith Equity.
Investors in trusts also returned to a familiar favourite in Scottish Mortgage, which reclaimed the head of the leaderboard after being knocked into second place last month by City of London.
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The majority of the constituents of the November investment trust most bought list pay an income, reflecting what Kyle Caldwell, collectives editor at interactive investor, said was «an attempt to receive some 'jam today,' particularly while battling inflation».
However, surging up the rankings were both funds and trusts suggesting a leaning among some investors towards a risk-on streak. L&G Global Technology Index, for example, jumped up five spots to third-place position in November.
«Over the past year, this passive index fund has been benefiting from advancements in, and the future potential of, artificial intelligence. 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,» Caldwell said.
Also in the more adventurous line was the Jupiter India fund, which found enough favour with investors in November to hit the middle of the leaderboard at position number five.
Trust investors were also keen to jump on the India bandwagon.
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