Best-selling funds, investment trusts and ETFs of October 2023

We can take a sneak peek back at October and quickly build a picture of what retail investors are up to. I can loosely summarise the ‘wisdom of the crowds’ as this:

1. Money market funds – cash-like investments which pay around 5% a year at the moment with very minimal risk. Safe, boring, and cheap. (I think ‘boring’ can sometimes be a compliment, btw!).

What job are they doing for us? Cash-like things we can hold in the tax quarantine of an ISA and a pension, avoiding the tax on the ‘interest’ we earn here.

2. Global tracker funds – low-cost pre-packaged parcels of investments which give us access to 1000s of international shares in one ready-made bundle. We’re not trying to be smart and pick the winners – we’re just in the game that is global capitalism.

What job are they doing for us? Cheap access to a belief that in general, large global firms will still make money and gawd knows precisely which ones will be the winners, so just buy lots and spread your bets. These are pretty mainstream, sensible options for those who don’t like the agony of choice!

3. Jupiter India – access to major Indian firms and a cherry-picked circa 70 Indian companies. I share the disclaimer that India is my investment nemesis. I always call it wrong because I want to believe in the growth fundamentals of this country I love and have marveled at for years. And sometimes I’m not patient enough for these long-term trends. But I did top up some holdings in this fund a few months ago. Up 17% over the last 12 months, you can see why it’s attracting interest... but this should never be more than a ‘side dish’ on your investing menu.

What job is it doing for us? Something spicy at a time when many regions feel at the mercy of geo-political tension. As I’ve said, I’m a sucker for the business case for India, with its young, vibrant population. The question is around the timeframes.

Have a read below for more information on what is popular with investors right now. If you’re a more confident investor, and you fancy picking a few sectors or regions, you may find the investment trust bestsellers more interesting, as they tend to be more focused and attract a savvier investor.