Income funds knock Scottish Mortgage and Fundsmith Equity off most bought spots

interactive investor platform purchases

Fundsmith Equity fund and Scottish Mortgage investment trust ended their long-held number one most bought rankings among investors on the interactive investor platform in October, as income strategies took over.

Scottish Mortgage had been the favourite for investment trust investors since June 2019, while Fundsmith Equity had beaten back all other funds every month since March 2021.  However, last month, City of London displaced Scottish Mortgage among investment trusts, and the Royal London Short Term Money Market fund took the crown from Fundsmith Equity. Both usurpers are income-focused strategies. Kyle Caldwell, collectives editor at interactive investor, said the change was part of a wider trend over the last two years of growth strategies losing out to income strategies in the popularit...