Most UK investment trusts can be bought and held within an ISA or SIPP, providing a highly tax-efficient way to access long-term growth and income.
For the 2025/26 tax year, investors can contribute up to £20,000 across all their ISAs. This includes both equity ISAs, which invest in stocks and funds, and cash ISAs. The same £20,000 overall allowance applies for 2026/27, with deadlines on 5 April 2026 and 5 April 2027.
With the annual capital gains tax allowance now reduced to just £3,000 and the dividend allowance cut to £500, the tax shelter provided by an ISA has become even more valuable. Any capital gains and dividend income generated within an ISA are free from further UK tax, which can materially enhance net returns over time, particularly for active investors or those building income portfolios.
In an environment of lower tax-free thresholds, making full use of ISA allowances can play an important role in protecting compounding returns and preserving income.
In this article, we’ve handpicked a mix of investment trusts managed by Manulife CQS Investment Management, Ruffer LLP, Cheyne Capital, Goodhart Partners LLP, JPMorgan Asset Management and Fidelity.
CQS Natural Resources Growth and Income plc (LON:CYN) provides shareholders with capital growth and income from a portfolio of mining and resource equities and mining, resource, industrial and other fixed interest securities. CQS Natural Resources won the Investment Week Investment Company of the Year 2022.
Ruffer Investment Company Limited (LON:RICA) is a British FTSE 250 investment company dedicated to investments in internationally listed or quoted equities or equity related securities. Ruffer has received recognition as a winner in the HFM European Performance Awards 2025 for “Quantitative Strategy over $1bn”.
Fidelity Special Values PLC (LON:FSV) is ranked top in the AIC UK All Companies sector for 5-year performance (as of Nov 2025) and top 15 in Trustnet’s “millionaire maker” lists as of Feb 2026.
Global Opportunities Trust plc (LON:GOT) invests globally in undervalued asset classes without reference to the composition of any stock market index. Managed by the highly regarded Trust lead portfolio manager Dr Sandy Nairn, Alan Bartlett and the team at Goodhart Partners.
Geiger Counter Limited (LON:GCL) delivers attractive returns to shareholders principally in the form of capital growth, through investment in companies involved in the exploration, development and production of uranium to supply the nuclear power industry.
Real Estate Credit Investments (LON:RECI) is a specialist investor in UK and European real estate credit markets with a focus on fundamental credit and value. RECI won Citywire’s “Best Performance Award” for the top performer over three years in the Specialist Debt Category.
JPMorgan European Discovery Trust plc (LON:JEDT) aims to provide capital growth from a diversified portfolio of smaller European companies (excluding the United Kingdom). The trust was featured on the shortlist for the Investment Company of the Year Awards 2025 in the “Overseas Smaller Companies” category.
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