December 04, 2025

Fidelity’s review of 2025 shows that investment trusts focusing on natural resources, China, emerging markets, growth capital, and technology delivered standout returns. This article distills the lessons for entrepreneurs investing beyond mainstream indices.

In a year where the S&P 500 tread water, certain investment trusts skyrocketed. A Fidelity summary of 2025’s performance highlights the power of diversification and contrarian plays. The top‑performing category was natural resources, with trusts returning an average of 43.9%; standout funds like Golden Prospect Precious Metals surged 156%. China trusts followed closely at 42.8%, driven by policy support and a rebounding domestic market.Global emerging markets and growth capital trusts posted gains of 33.8% and 30.2%, respectively, while technology trusts climbed 28.3%. The lesson? Look beyond home bias and mainstream indices. Investors who added natural resource exposure captured the commodities boom fueled by inflation and supply constraints.

Those who bet on China benefited from valuations far below U.S. tech while the government stimulated the economy. Emerging markets gained from a weak dollar, making their exports more competitive, and growth capital trusts profited from private company funding cycles. The article also notes that three of Fidelity’s Select 50 trusts, International Public Partnerships, Schroder Japan, and Schroder Oriental Income Fund, provided consistent returns despite volatility. This underscores the importance of professional management and governance.

Entrepreneurs investing their wealth should prioritize funds with clear mandates, experienced teams, and transparent fee structures. Of course, these high returns came with volatility. Commodities can swing wildly, and geopolitical risk can pummel emerging markets. The key is position sizing and diversification. Don’t bet the farm on gold miners; allocate a slice. Similarly, a stake in China should complement, not replace, global exposure. Balance high‑beta positions with steady income funds, cash, or bonds.

 As you build your investment portfolio, think like a venture capitalist evaluating startups: diversify across sectors and geographies, understand the underlying drivers, and expect some swings. Passive index investing is an excellent foundation, but adding targeted exposure to sectors poised for growth can supercharge returns. 2025’s trust performance proves that markets never move in lockstep; opportunities are always hiding in overlooked corners.

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