Investor sentiment toward tech funds fades as Fidelity clients turn to defensive assets

Fidelity’s latest numbers followed a choppy month for AI-heavy stocks as investors turned wary of the long-term sustainability of AI growth. Investor sentiment around technology funds cooled considerably in August, the firm said, as popularity among ISA and SIPP investors turned to money market funds and options that offer access to more diversified and defensive assets. Some of the best-selling funds purchased through Fidelity’s personal investment platform included four passive strategies, as well as a trio of active Fidelity funds such as Gl…