Commodities & Natural Resources was the best performing investment trust sector in 2025, producing a return of 61.5 per cent over the year, the Association of Investment Companies (AIC) has revealed.

This was followed by the China/Greater China sector with a 39 per cent return and Global Emerging Markets, which returned 37 per cent.

Growth Capital produced a return of 36.5 per cent, while Technology & Technology Innovation and European Smaller Companies each returned 30 per cent.

Overall, the average investment trust, excluding venture capital trusts, returned 12 per cent in 2025.

The Golden Prospect Precious Metals investment trust was the top performing trust in 2025 with a return of 165 per cent.

This represented a return of almost 40 percentage points above second place, which went to DP Aircraft I in the Leasing sector with 127 per cent.

Seraphim Space Investment Trust was in third with a return of 121 per cent in 2025, followed by CQS Natural Resources Growth & Income (102 per cent), BlackRock World Mining Trust (74 per cent), and Gresham House Energy Storage (72 per cent).

“The commodities sector had a mighty 2025, with all-time highs in gold, silver and copper powering it to the top of the performance tables,” said AIC communications director, Annabel Brodie-Smith.

“Golden Prospect Precious Metals was the top performing investment trust of the year, with a sparkling return of 165 per cent.

“Two more commodities trusts made it into the top five performers – CQS Natural Resources was the fourth best performing trust with a 102 per cent return and BlackRock World Mining was fifth best with a 74 per cent return.

“Emerging markets trusts came back strongly in 2025, with the China sector returning 39 per cent and the Global Emerging Markets sector returning 37 per cent.

“The Growth Capital sector, which performed best in 2024, was the fourth best performer last year returning 37 per cent.

“It’s always good to understand which sectors and trusts have done best over the short term but investment is all about the long term. Building a diversified portfolio which meets your investment needs is the top priority.”

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