Investor behaviour on Fidelity International’s (“Fidelity”) Personal Investing platform during January and February suggests ISA season has begun with a clear global tilt, as personal investors diversified across international equity markets, emerging markets and income-focused investment trusts.
With the tax year-end approaching, investors appear to be positioning portfolios for long-term growth, favouring broad global exposure over domestic-only strategies. The data shows a strong presence of global equity funds, emerging market strategies and internationally diversified investment trusts among the best-selling investments.
The best-selling funds, shares and investment trusts on Fidelity Personal Investing January and February 2026
Jemma Slingo, Pensions and Investment Specialist at Fidelity International comments: “January and February’s best-selling funds show ISA investors firmly in global mode. Broad-based strategies such as Vanguard FTSE Global All Cap Index Fund and HSBC FTSE All World Index Fund were among the most popular choices, alongside actively managed global funds including Dodge & Cox Worldwide Global Stock Fund and Artemis Global Income Fund.
“This suggests investors are looking to spread risk geographically and capture opportunities across regions rather than concentrating portfolios closer to home.
Emerging markets and Japan stand out
“The renewed appetite for emerging markets comes after a period in which several overseas markets, including parts of Asia and emerging economies, outperformed the US. Investors appear to be seeking longer-term growth opportunities and more attractive valuations outside Wall Street. Lazard Emerging Markets Fund and Artemis SmartGARP Global Emerging Markets Equity both ranked among the most-bought funds, while Fidelity Emerging Markets Limited featured prominently in the investment trust list.
“It is also notable that Schroder Japan Trust featured among the best-selling investment trusts. Japan has been one of the stronger-performing developed markets in recent periods, and investors seem increasingly willing to allocate capital to regions benefiting from structural reform and corporate governance improvements.
“Beyond Japan, investors are broadening their exposure across Asia more generally. Schroder Oriental Income also appeared among the top trusts, combining Asia-Pacific equity exposure with a focus on dividend-paying companies. Its popularity suggests investors are not only seeking growth from the region, but also sustainable income and diversification within their global portfolios.
Technology and global leaders in demand
“Among individual shares, global technology and multinational companies featured heavily. Amazon, Microsoft, Palantir Technologies and Sandisk Corp were all popular, alongside UK names such as RELX and Diageo.
“The prominence of US technology giants suggests investors have not been overly alarmed by rumours of an AI bubble.
Income and resilience remain key
“Alongside growth exposure, ISA investors maintained a clear focus on income and defensive positioning. Investment trusts such as City of London, Temple Bar, F&C Investment Trust and Law Debenture all featured in the top 10, highlighting continued demand for established dividend payers and diversified trusts.
“Infrastructure and alternative income strategies also appeared, including Greencoat UK Wind and International Public Partnerships, underlining the desire for steady cashflows and diversification within portfolios.
A balanced approach to ISA season
“The overall picture from January and February is one of balance. Investors are combining global growth funds and emerging markets exposure with income-generating trusts, UK dividend shares such as Lloyds and Legal & General, and diversifiers including gold-focused funds and Yellow Cake.
“As ISA season gathers pace, this blend of global diversification, structural growth and income resilience suggests investors are taking a measured, long-term approach rather than making concentrated bets.”
