Seed Innovations (SEED) was the best-performing investment trust in Q3 2025, with a 161% share price increase. Petershill Partners shares surged after announcing delisting. 56 trusts saw share price growth of over 10%. Among the top-performing categories were precious metals, natural resources, biotechnology, and China equity.

Petershill Partners (PHLL) plans to delist from the London Stock Exchange, leading to a 35% share price increase. Polar Capital Technology (PCT) rose 20% and traded at a 9% discount. Evaluating investment trusts requires a focus on long-term returns, with short-term returns offering insights into strategy biases.

Seed Innovations (SEED) rose 20.31% in Q3, trading at a 29.51% discount to NAV. The trust, heavily invested in cannabis, announced a focus on disruptive technologies, boosting share prices. Alternative Liquidity Fund (ALF) and CQS Natural Resources G&I Ord (CYN) also saw significant growth in share prices and NAV.

Golden Prospect Precious Metal (GPM) saw a 47.98% share price increase in Q3. Biotech Growth (BIOG) rose 40.36% on a NAV basis. The worst-performing trusts were dominated by small trusts and fixed income, with Tiger Alpha (TIR) down 71.97%. Investment trusts offer exposure to illiquid assets and niche sectors, trading on the London Stock Exchange.

Read more at Morningstar: The Best-Performing Investment Trusts in Q3 2025