Stock market tumult has been the story of the first month of this new tax year, after US President Donald Trump announced sweeping tariffs on goods from countries across the world.
The President’s so-called ‘Liberation Day’ sent global markets tumbling.
But the falls didn’t last long as plenty of investors rushed to ‘buy the dip’. And now, over a month on from the Liberation Day chaos, markets are broadly back where they were before.
However, with the threat of recession growing, investor uncertainty is still lingering.
With this in mind, here’s where HL clients invested their Stocks and Shares ISAs in April.
It’s always important to remember that investing is for the long term. If you take that approach, the day-to-day market ups and downs shouldn’t matter as much.
Over a period of five years or more, investing has a higher chance of positive returns than if you were to put away cash savings. But recent market movements have shown that investments fall as well as rise in value, so you can get back less than you put in.
Where have HL's Stocks and Shares ISA clients put their money in the 2025/26 tax year so far?
The table below shows the most bought actively-managed funds (trying to beat the market) and tracker funds (trying to track the market), by HL's Stocks and Shares ISA investors in the 2025/26 tax year so far (6 April 2025 – 30 April 2025).
This is by number of trades (minus any sales) with the funds listed alphabetically.
This article has been written independently of our investment research team to offer some inspiration, but it isn't personal advice or a guide on how or where to invest.
You should choose investments based on your own objectives and attitude to risk. If you're not sure whether an investment is right for you, ask for financial advice.
Most bought active funds this tax year so far | Key Investor Information |
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Unlike most funds which invest in shares and longer-term bonds, money market funds invest in a combination of short-term debt investments issued by governments and companies. In comparison to many shares and bonds, these are lower-risk investments.
Their purpose is to give a return that’s slightly higher than what you can get from cash at the bank, after fees.
As is always the case, you don’t get something for nothing. So, the higher return compared to cash comes at a higher level of risk.
Most bought tracker funds this tax year so far | Key Investor Information |
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How to pick investments for an ISA
If you’re looking for inspiration from our investment research team on where to invest your ISA this tax year, explore our latest ISA investment ideas.
Or you can use our Wealth Shortlist.
It’s designed to help investors build and maintain a well-balanced and diversified portfolio.
We’ve put funds under the microscope to make sure the list only contains the funds that our in-depth analysis shows have the greatest long-term performance potential.
Investing in funds won’t be right for everyone though. Only invest in a fund if its objectives align with your own, and there’s a specific need for that type of investment within your portfolio. Investors should understand the specific risks of a fund before they invest and be investing for the long-term (five years or more).
It’s also important not to put all your eggs in one basket. Spreading your money and diversifying, gives you access to more opportunities and can reduce risk.
Leave day-to-day investment decisions to the experts
If you’ve got an HL Stocks and Shares ISA and want a team of experts to look after the day-to-day investment decisions, consider a Ready-Made Investment.
You can pick from four ready-made investments, which let you choose how to balance risk and potential returns.
All you’ll need to do is check in on your investment from time to time to make sure it still meets your needs and objectives.
HL Ready-Made Investments are managed by our sister company Hargreaves Lansdown Fund Managers Ltd.
You can invest without having to worry about UK income and capital gains tax with our most popular account, the HL Stocks and Shares ISA.
Open or top up an ISA from as little as £25 a month or a £100 lump sum.
Before you apply, make sure you’re happy with our terms and conditions (including Tariff of Charges) and key features. Then all you need is your debit card and National Insurance number to hand.
Plus, if you open an account and add at least £10,000 (including cash and/or transfers) before 30 June 2025, you can enjoy our lowest ever account charge, with 40% off for up to six months. Full terms, and other charges may, apply.