It may not stay this way forever, however. To stop people dodging the new rules, the government plans to introduce tests to determine whether an investment is eligible to be held in a stocks and shares ISA or whether it is \u2018cash like\u2019.<\/p>\n
Rockin\u2019 all over the world<\/p>\n
Fidelity Index World<\/a> remained popular with SIPP and ISA customers this year. This passive fund is a straightforward, low-cost way to invest in developed countries around the globe. In recent years, however, global trackers have become heavily skewed towards North America.<\/p>\n At the time of writing, over 70% of the Fidelity fund\u2019s portfolio is allocated to US equities, and 5% is invested in Nvidia<\/a> alone. This means that the one semiconductor company represents more of the global index than the UK and Australia combined.2<\/p>\n While a global tracker may seem like an easy way to diversify your portfolio, therefore, its performance will be heavily influenced by a small number of mega-caps based in Silicon Valley.<\/p>\n Tech titans<\/p>\n Investors have been upping their exposure to Big Tech in other ways too. The\u00a0Legal & General Global Technology Index Trust<\/a> was an ISA and SIPP favourite this year. This is a passive fund that tracks the FTSE World-Technology Index.<\/p>\n The fund holds 255 companies in total, but it is heavily weighted towards the \u2018Magnificent Seven\u2019. \u00a0Nvidia<\/a>,\u00a0Apple<\/a>\u00a0and\u00a0Microsoft<\/a> alone\u00a0represent over 40% of the portfolio, and the top 10 holdings represent over 70% of the fund. This has yielded some spectacular results in the past, with annual returns frequently exceeding 30%.3<\/p>\n Tech lovers have also been buying the\u00a0Fidelity Global Technology Fund<\/a>. This is a different kettle of fish to L&G\u2019s index tracker. For starters, it is actively managed, with portfolio manager HyunHo Sohn striving to beat the benchmark.<\/p>\n Sohn has limited the fund\u2019s exposure to the Magnificent Seven and has upped its exposure to countries like Taiwan, China, South Korea and the Netherlands. Its top holding is\u00a0Taiwan Semiconductor Manufacturing Company (TSMC),<\/a>\u00a0which makes chips for\u00a0Nvidia<\/a>. Nvidia itself, however, is not one of the top 10 holdings.<\/p>\n It is worth noting that investors seem slightly less excited by Big Tech than they were last year. The tech-focused funds are further down the rankings than in 2024, and the Fidelity Index US Fund<\/a> has slipped into 10th position.<\/p>\n Hunt for income<\/p>\n The quest for explosive growth has been somewhat overshadowed by a desire for dividends. The Artemis Global Income Fund<\/a> gained favour with SIPP investors this year, and the Fidelity Global Dividend Fund<\/a> was also a hit.<\/p>\n Known for its contrarian approach, Artemis Global Income targets undervalued, dividend-paying stocks. Its portfolio is made up of 87 companies and has a strong emphasis on free cash flow. It has achieved a historic dividend yield of 2.4%.4<\/p>\n The fund also stands out for its focus on lesser-known companies. While familiar names like\u00a0Samsung\u00a0and\u00a0Pfizer<\/a>\u00a0feature among its top holdings, others – such as Hanwha Aerospace and Hon Hai Precision – are less widely covered in the UK.<\/p>\n Artemis has benefited from favourable structural trends. Aerospace and defence stocks have been key drivers of recent outperformance. Its significant exposure to financials has also proved advantageous in the current high-interest rate environment.<\/p>\n Fidelity Global Dividend Fund<\/a> is another useful diversifier in a world driven by Big Tech. The actively managed fund significantly underweights the US, prioritising the UK and Europe instead. Its top three holdings as of November are\u00a0Taiwan Semiconductor Manufacturing Company (TSMC)<\/a>, Unilever<\/a>, and Swiss health giant Roche.5<\/p>\n Fidelity investment director Tom Stevenson named the Fidelity Global Dividend Fund as one of his\u00a0top picks for 2025<\/a>. \u2018It\u2019s one of the longest-standing holdings in my own portfolio which has served me very well over the years,\u2019 Tom said. \u2018It has delivered steady growth, despite being underweight the US equities which have driven markets higher.\u2019<\/p>\n Homeward bound<\/p>\n ISA investors have been enticed by the UK this year, with the\u00a0Fidelity Special Situations Fund<\/a> and Legal & General UK Index Trust Fund<\/a> both making it into the top 10.<\/p>\n The FTSE All-Share – which the L&G fund aims to track – has had a great year, delivering total returns of over a fifth and overtaking the S&P 500. Its performance has been driven by banking and defence stocks.<\/p>\n Fidelity Special Situations has also been enjoying a strong run. Managed by Alex Wright and Jonathan Winton, the fund mainly invests in the UK and targets cheap companies with recovery potential. Top holdings include the Irish distributor\u00a0DCC<\/a>, the Asia-focused bank\u00a0Standard Chartered<\/a> and insurance giant Aviva<\/a>. Smaller players also feature, as there are no size constraints.<\/p>\n Multi-asset approach<\/p>\n Last but not least: multi-asset funds.<\/p>\n The\u00a0Fidelity Multi Asset Allocator Growth Fund<\/a>\u00a0is split roughly 60\/40 between more adventurous investments like shares and safer assets like bonds. This makes it a useful diversifier – particularly for SIPP investors who may have a lower risk tolerance. By spreading their money across different asset classes, investors are hoping for smoother returns over the long term. Historically, stocks and bonds have moved in opposite directions, although this hasn\u2019t always played out.<\/p>\n The Fidelity Multi Asset Allocator Growth Fund forms the basis of\u00a0Fidelity\u2019s Retirement Builder<\/a>, a fuss-free investment option for customers who want stable growth and a diversified portfolio.<\/p>\n ISA – Best-selling funds of 2025<\/p>\n \tFidelity Cash Fund<\/a> Source: Fidelity International. Gross ISA sales 1 Jan to 10 December 2025 for Personal Investors only.<\/p>\n SIPP – Best-selling funds of 2025<\/p>\n \tFidelity Cash Fund<\/a> Source: Fidelity International. Gross SIPP sales 1 Jan to 10 December 2025 for Personal Investors only.<\/p>\n Got a burning question you want to ask? Why not drop us a line.\u00a0Click here to ask your question<\/a>.<\/p>\n Source:<\/p>\n 1FactSet consensus forecasts, December 2025<\/p>\n 2 Fidelity World Index Fund factsheet<\/a>, December 2025<\/p>\n 3 Legal & General Global Technology Fund factsheet<\/a>, December 2025<\/p>\n 4 Artemis Global Income Fund factsheet<\/a>, December 2025<\/p>\n
\n\tFidelity Index World Fund<\/a>
\n\tRoyal London Short Term Money Market Fund<\/a>
\n\tFidelity Global Dividend Fund<\/a>
\n\tLegal & General Global Technology Index Trust<\/a>
\n\tLegal & General Cash Trust<\/a>
\n\tLegal & General UK Index Trust<\/a>
\n\tFidelity Special Situations Fund<\/a>
\n\tFidelity Global Technology Fund<\/a>
\n\tFidelity Index US Fund<\/a><\/p>\n
\n\tRoyal London Short Term Money Market Fund<\/a>
\n\tFidelity Index World Fund<\/a>
\n\tLegal & General Cash Trust<\/a>
\n\tFidelity Global Dividend Fund<\/a>
\n\tLegal & General Global Technology Index Trust<\/a>
\n\tArtemis Global Income Fund<\/a>
\n\tFidelity Global Technology Fund<\/a>
\n\tFidelity Multi Asset Allocator Growth Fund<\/a>
\n\tFidelity Index US Fund<\/a><\/p>\n