The Best- and Worst-Performing Investment Trusts
From Morningstar: 2025-07-02 07:36:00
The performance of UK-listed investment trusts is closely monitored by investors. In the second quarter of 2025, the best-performing trust was the Gold-rated Polar Capital Technology (PCT), up 25% on a net asset value basis. The worst performer in the period was NB Distressed Debt Inv Extended Life NBDX, with a 14.85% fall in NAV. NAV represents the value of the underlying assets in the trust, with share prices trading at a discount or premium to NAV. Among category winners in Q2 were Korea equity, up 22%, and technology, up 19%. Healthcare and Greater China equity trusts were the worst performers, both falling 4%. Of the 239 trusts in the dataset, 175 have risen in 2025 so far, with 46 trusts experiencing double-digit growth. Only three trusts suffered double-digit losses.
The five best-performing investment trusts in Q2 2025 were Geiger Counter (GCL), Polar Capital Technology (PCT), Weiss Korea Opportunity Ord (WKOF), Premier Miton Global Renewables Trust Ord (PMGR), and Odyssean Investment Trust Ord (OIT). Geiger Counter rose 47.76% on a NAV basis, while Polar Capital Technology saw a 24.53% increase. Weiss Korea Opportunity grew by 21.75%, Premier Miton Global Renewables Trust rose by 20.19%, and Odyssean Investment Trust increased by 18.79%.
The five worst-performing investment trusts in Q2 2025 were NB Distressed Debt Inv Extended Life (NBDX), NB Distressed Debt Ord (NBDD), Fidelity Asian Values Ord (FAS), NB Private Equity Partners Class A Ord (NBPE), and Bellevue Healthcare Ord (BBH). NB Distressed Debt Inv Extended Life saw a 14.85% fall in NAV, while NB Distressed Debt Ord dropped by 14.16%. Fidelity Asian Values fell by 11.55%, NB Private Equity Partners Class A dropped by 8.71%, and Bellevue Healthcare fell by 7.03%.
Investment trusts are closed-end funds that allow exposure to illiquid assets and niche sectors. They can use gearing or borrowing to enhance returns. These trusts are public companies whose shares trade on the London Stock Exchange, making it easy to track their daily performance. The methodology for calculating investment trust returns involves looking at real-time pricing and net asset value (NAV), which represents the value of the trust’s underlying assets. Share prices can trade at a discount or premium to NAV, indicating investor favorability.
Read more at Morningstar: The Best- and Worst-Performing Investment Trusts