In January, the best-performing investment trust, Geiger Counter, saw a 35% rise in shares due to a surge in the uranium spot price. Among 200 trusts surveyed, 150 saw gains, with 14 trusts rising by over 10%. Natural resources, Latin America, UK small-cap stocks, and Asia ex-Japan equities were strong performers, while Indian equities struggled.

Geiger Counter, focusing on the uranium industry, led as the best-performing investment trust in January 2026, with a 35% increase in share price and a 32.60% rise in 2025. Schiehallion Fund, heavily invested in SpaceX, grew by 23.30%. JPMorgan Emerging Markets Dividend Income was the top performer among trusts with a Morningstar Medalist Rating.

Baker Steel Resources, investing in unlisted natural resources companies, rose by 25.16% in January. Schiehallion trust saw a 23.30% increase in share price and a 0.46% decrease in NAV. BlackRock Latin American gained 20.53%. River UK Micro Cap saw a 16.28% share price increase, outperforming the Morningstar UK Small Cap TME Index.

Sherborne Investors fell the most in January, down 13.94%, while HgCapital, the largest of the worst 10 performers, dropped 10.85%. Finsbury Growth & Income was the worst performer with a 5.72% decline. India’s equity market struggles due to high valuations and a weak rupee. Manager Nick Train survived a crucial vote at the Finsbury Growth & Income AGM.

Read more at Morningstar: The Best and Worst Performing Investment Trusts in January 2026