The third best performing AIC sector was global emerging markets, returning 37 per cent. The average investment trust, excluding venture capital trusts (VCT), returned 12 per cent in 2025, the research reveals.

“The commodities sector had a mighty 2025, with all-time highs in gold, silver and copper powering it to the top of the performance tables,” Annabel Brodie-Smith, communications director of the AIC, said. “Golden Prospect Precious Metals was the top performing investment trust of the year, with a sparkling return of 165 per cent. Two more commodities trusts made it into the top five performers – CQS Natural Resources was the fourth best performing trust with a 102 per cent return and BlackRock World Mining was fifth best with a 74 per cent return.”

Gresham House Energy Storage, which focuses on renewable energy infrastructure, came in sixth place.

“Emerging markets trusts came back strongly in 2025, with the China sector returning 39 per cent and the Global Emerging Markets sector returning 37 per cent. The Growth Capital sector, which performed best in 2024, was the fourth best performer last year returning 37 per cent,” Brodie-Smith continued. “It’s always good to understand which sectors and trusts have done best over the short term but investment is all about the long term. Building a diversified portfolio which meets your investment needs is the top priority.”

The AIC has 281 members and the industry has total assets of about £269 billion ($362 billion).