10 hottest ISA shares, funds and trusts: week ended 20 September 2024

We look at the investments ii customers have been buying within their ISAs during the previous week. The data includes only real-time trades, not regular investing instructions, and combines the use of both existing funds and new money.

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Top 10 shares in ISAs

Straight in at number one is life and pensions company Phoenix Group Holdings (LSE:PHNX), which makes its first appearance in the 10 most-bought stocks in ISAs since June.

Phoenix shares fell sharply last week following an announcement that it will not be selling its over-50s life assurance business SunLife, blaming uncertainties in the protection market.

However, the company did increase adjusted operating profit for the six months to 30 June by 15% to £360 million. It also said it is on track to make its previously flagged mid-term financial targets.

Analysts at Deutsche Bank said: “While the higher recurring management actions in 1H24 and upgraded guidance for FY24 (to £400 million) could imply consensus cash upgrades for 2025, we question whether we see much for 2024 given they have kept their total cash-gen target of £1.4-1.5 billion unchanged - stating that they are confident on achieving the top end (which we believe was in consensus already).”

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However, yielding almost 10%, and with the shares having positive momentum since the start of the summer, investors are clearly happy to take advantage of the sell-off.

Rolls-Royce Holdings (LSE:RR.) was chased to new highs at 526p following a break from the top 10 the previous week, after the Federal Reserve’s 50 basis point cut in borrowing costs. Ocado Group (LSE:OCDO), which hasn’t featured here since the start of the summer, rallied after third-quarter retail sales beat City expectations and it upgraded its annual revenue growth estimate. However, the volatile grocer and delivery technology firm is finding it hard to hang on to those gains.

International Consolidated Airlines Group SA (LSE:IAG) has been a popular play on sector recovery over the past six weeks. And Bank of America’s decision to upgrade its price target to 240p had shares in the British Airways owner reaching an altitude not seen in over three years.

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Helium One Global Ltd Ordinary Shares (LSE:HE1) is back in the top 10, up from 12th the week before. After completing the feasibility study and six-month environmental social impact assessment (EISA) study, the company has submitted a mining licence (ML) application over the Itumbula-Tai area in southern Rukwa, Tanzania.

“The company very much looks forward to developing a partnership with the government of Tanzania upon the granting of the ML application, in order to develop a flagship helium sector in Tanzania as we advance into development and production,” it said.

But Helium One shares have tumbled to below 1p compared with 2.15p a month ago. That’s their lowest since early July, perhaps in the belief that the flow of good news may have dried up while the company waits for politicians to give the thumbs up.

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Oil explorer Chariot Ltd (LSE:CHAR) grabbed attention on news it had finished drilling at the Anchois-3 Main Hole, offshore Morocco. Unfortunately, while the company found multiple good-quality gas bearing reservoirs in the B sand appraisal interval, the gas pays are interpreted to be lower than pre-drill estimates.

Analysts at Cavendish have put their target price under review “pending an updated Anchois contingent resource estimate and clarification on the next steps for the project”.

Trading at 26p a couple of years ago, the shares had drifted to 6p until a couple of weeks ago when they lurched lower again, bottoming out at 1.3p last week. 

Top 10 funds and trusts in ISAs

There was renewed interest in Indian shares last week, pushing Jupiter India up two places in the most-bought collectives list.

The second-most popular fund, it has been one of the top funds in 2024, rising 27.5%, as investors bet on the fast-growing Indian economy as well as its business-friendly government, which contrasts with China. Jupiter India rose 1% last week.

Vanguard LifeStrategy 80% Equity held on to the top spot. The ever-popular fund gives investors access to global stock and bond markets for a low ongoing fee of 0.22%.

Other risers last week included Greencoat UK Wind (LSE:UKW) (up three places), and City of London Ord (LSE:CTY), which entered the list in fourth place. These two investment trusts are popular with income investors. Greencoat yields 7.22% and City of London yields 4.7%.

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The final riser was Vanguard LifeStrategy 100% Equity, in at 10th places from 14th the week before. For 0.22%, it owns a basket of Vanguard passive funds from different equity markets around the world.

L&G Global Technology Index held on to third place, while Royal London Short Term Money Market held on to fifth place. These funds could not be more different, with the technology tracker giving investors access to fast-growing, but richly valued shares, and the money market fund offering a cash-like return of around 5%, closely correlated with the Bank of England base rate.

JPMorgan Global Growth & Income Ord (LSE:JGGI), BlackRock World Mining Trust Ord (LSE:BRWM) and Scottish Mortgage Ord (LSE:SMT) fell in popularity but remained in the top 10, while Fidelity Index World and Vanguard FTSE Global All Cap Index dropped off the list.

Funds and trusts section written by ii’s Sam Benstead.