Fantasy fund manager: gap narrows between contestants as tech bounces back
A broad market rebound means it’s anybody’s race with four months to go.
After a torrid July, markets calmed in August, with indices around the world rising on the back of a strong second quarter earnings season.
Faith in the AI trade returned, boosting tech stocks and emerging markets, but the strongest returns were found in raw materials and commodities, which helped investment trusts in the sector produce some stellar gains.
So how has all this impacted our leaderboard?
Journalist | Portfolio gain (%) | Value of £10,000 |
|---|---|---|
Jeff Prestridge | 27.75 | £12,775 |
Lynn Beattie | 22.59 | £12,259 |
Holly Mead | 22.45 | £12,245 |
Moira O'Neill | 20.07 | £12,007 |
Peter Higgins | 16.71 | £11,671 |
Gavin Lumsden | 5.28 | £10,528 |
Source: theaic.co.uk / Morningstar. Share price total return from 01/01/26 to 31/08/2026. All returns in GBP.
Top portfolio returns
All-round financial journalism guru Jeff Prestridge has regained the top spot after a month languishing in second place. His portfolio rose by just over 10% thanks to his star performer Seraphim Space, which soared 22.5% in August taking the space specialist trust’s gains so far this year to 56%.
All of Jeff’s trusts rose in value, which means his fantasy £10,000 portfolio is now worth £12,775. If only it was real money…
Our first-time investor Lynn Beattie fell back into second place despite also seeing all her picks grow in value during August. Her portfolio rose by just over 4%, taking her year-to-date returns to a very respectable 22.6%.
A very strong performance in the Commodities and Natural Resources sector sent some mining trusts through the roof, giving a healthy boost to Peter Higgins’ portfolio. The podcaster and presenter has two commodities trusts in his selection, and that now appears to be paying off, with his portfolio rising by 12.7% in August alone – more than any other contestant.
Top investment trusts
The biggest share price jump in August came from Golden Prospect Precious Metals, which is held by Moira O’Neill. It saw its shares rise by 33.9%, helped by an 8% increase in the price of the precious metal. Another strong commodities trust was CQS Natural Resources Growth & Income. The trust, held by Peter Higgins, jumped by 23.4% in August as numerous commodities saw prices squeezed higher amid the ongoing geopolitical tensions. BlackRock World Mining, also held by Higgins, was another strong performer, rising by 20% in August alone.
The tech sector was relatively quiet in August although Allianz Technology Trust still produced a gain of 6%. Scottish Mortgage, on the other hand, with its big weighting to the AI theme, rose by a hefty 12.2%. The only other trust in our fantasy portfolios to produce double-digit returns in August was the biotech specialist International Biotechnology.
Emerging markets as a sector did well in August but our contestants’ best performing emerging markets trust was Templeton Emerging Markets, held by Moira O’Neill, which rose by 5.7%.
| Journalist | Investment trust | AIC sector | Share price total return (%) 1 month to 31/08/2026 | Share price total return (%) YTD to 31/08/2026 | Value of holding as at 31/08/2026 |
|---|---|---|---|---|---|
| Jeff Prestridge | Mercantile Investment Trust | UK All Companies | 4.52 | 14.51 | £2,863 |
| Scottish Mortgage | Global | 12.18 | 26.11 | £3,153 | |
| Seraphim Space Investment Trust | Growth Capital | 22.51 | 56.00 | £3,900 | |
| Temple Bar Investment Trust | UK Equity Income | 1.17 | 14.36 | £2,859 | |
| Total portfolio | 10.10 | 27.75 | £12,775 | ||
| Lynn Beattie | Alliance Witan | Global | 3.08 | 9.35 | £2,734 |
| Allianz Technology Trust | Technology & Technology Innovation | 6.27 | 35.10 | £3,378 | |
| Henderson Smaller Companies | UK Smaller Companies | 3.78 | 16.28 | £2,907 | |
| Schroder Asian Total Return | Asia Pacific | 3.19 | 29.63 | £3,241 | |
| Total portfolio | 4.08 | 22.59 | £12,259 | ||
| Holly Mead | Ashoka India Equity | India / Indian subcontinent | 2.98 | -4.78 | £2,381 |
| BlackRock World Mining | Commodities & Natural Resources | 20.05 | 33.73 | £3,343 | |
| International Biotechnology | Biotechnology & Healthcare | 11.27 | 19.45 | £2,986 | |
| Polar Capital Technology | Technology & Technology Innovation | 4.71 | 41.38 | £3,535 | |
| Total portfolio | 9.75 | 22.45 | £12,245 | ||
| Moira O'Neill | Golden Prospect Precious Metals | Commodities & Natural Resources | 33.90 | 24.21 | £3,105 |
| Personal Assets Trust | Flexible Investment | 2.28 | 3.57 | £2,589 | |
| Schroder UK Mid Cap Fund | UK All Companies | 4.27 | 13.91 | £2,848 | |
| Templeton Emerging Markets | Global Emerging Markets | 5.74 | 38.57 | £3,464 | |
| Total portfolio | 11.55 | 20.07 | £12,007 | ||
| Peter Higgins | BlackRock World Mining | Commodities & Natural Resources | 20.05 | 33.73 | £3,343 |
| CQS Natural Resources Growth & Income | Commodities & Natural Resources | 23.36 | 29.41 | £3,235 | |
| Rockwood Strategic | UK Smaller Companies | 2.22 | 10.62 | £2,766 | |
| Vietnam Enterprise Investments | Country Specialist | 5.26 | -6.92 | £2,327 | |
| Total portfolio | 12.72 | 16.71 | £11,671 | ||
| Gavin Lumsden | Herald Investment Trust | Global Smaller Companies | 1.53 | - | £2,837 |
| Finsbury Growth & Income Trust | UK Equity Income | 3.98 | 2.95 | £2,574 | |
| Lindsell Train | Global | 0.70 | -9.52 | £2,262 | |
| RIT Capital Partners | Flexible Investment | 0.00 | 14.21 | £2,855 | |
| Total portfolio | 1.55 | - | £10,528 | ||
Source: theaic.co.uk / Morningstar. All data to 31 August 2026. *AUGM proceeds of £3,050 notionally reinvested into HRI on 01/06/2026. All returns in GBP. The information and trust selections are for entertainment purposes only and do not constitute investment advice or personal recommendations. The opinions expressed are those of the individual writers and not of the AIC. You should not make investment decisions based solely on this information and you should seek independent financial advice to identify investments that suit your own personal circumstances and needs. See our full terms of use.
Nick Gardner
Nick Gardner is an award-winning financial journalist. He is former Business and Personal Finance Editor of the Sunday and Daily Telegraph in Sydney, and Deputy Money editor of The Sunday Times in London. He was also Head of Content at Brewin Dolphin, the wealth manager.
