Top 10 funds and trusts in ISAs

TrustNet

Company Name

Place change

1 Royal London Short Term Money Market

Up 2

2 Scottish Mortgage Ord SMT

Down 1

3 Greencoat UK Wind UKW

Up 1

4 L&G Global Technology Index I Acc

Down 2

5 Vanguard LifeStrategy 80% Equity Up 2

6 JPMorgan Global Growth & Income Ord JGGI
Up 2

7 Fidelity Index World P Acc

Unchanged

8 F&C Investment Trust Ord FCIT
New

9 Polar Capital Technology Ord PCT
Down 4

10 Alliance Witan Ord ALW
New

Cash was king last week, with Royal London Short Term Money Market rising two places to take the top spot.

The money market fund, which can be viewed as a cash proxy due to its investments in overnight deposits and ultra-short term bonds, yields around 4.8%.

However, given that UK interest rates have now fallen to 4.5%, the yield on this strategy will also fall over the coming months. The Y units automatically reinvest any income generated, rather than paying it out.

UK interest rates cut to 4.5%.

Tech funds lost popularity last week, even as the Nasdaq 100 index in GBP rose about 1.5%. Scottish Mortgage Ord
SMT fell one place to second, L&G Global Technology Index dropped to fourth place, and Polar Capital Technology Ord
PCT fell four places to ninth.

Tech shares have moved higher this year, with SMT up 13.7% and PCT up 4.6%. They continue a strong run since 2023, driven by developments in artificial intelligence (AI) technology and lower interest rates.

The other risers last week were Greencoat UK Wind
UKW , Vanguard LifeStrategy 80% Equity and JPMorgan Global Growth & Income Ord JGGI, Global multi-manager trusts Alliance Witan Ord
ALW and F&C Investment Trust Ord
FCIT were new entries, while Fidelity Index World held on to seventh position. HSBC FTSE All World and Vanguard US Equity Index dropped off the list.