Actively managed OEIC funds remain popular with UK retail investors in 2026 despite the long-term rise of passive investing. The reason is straightforward: many investors still want experienced fund managers to navigate volatile markets, identify AI and technology winners, generate income, or reduce downside risk during uncertain periods.
Recent data from Fidelity, Trustnet and major UK investment platforms suggests the most bought active funds today tend to fall into three categories:
- Global equity income
- Growth and technology-focused strategies
- Flexible multi-asset portfolios
What is an OEIC fund?
An OEIC (Open-Ended Investment Company) is a type of collective investment fund commonly used in the UK.
It pools money from many investors and invests it in a diversified portfolio of assets such as shares, bonds, or property. Being open-ended means the fund creates or cancels shares as investors buy or sell, so the number of shares can change.
Passive funds still dominate overall flows, but a handful of active OEICs continue attracting significant retail demand because of strong long-term performance, trusted managers and exposure to major themes like artificial intelligence and emerging markets.
Most popular active OEIC funds among UK retail investors
| Fund | Sector | Why Investors Are Buying |
| Artemis Global Income Fund | Global Equity Income | Strong income growth and global diversification |
| Fidelity Special Situations | UK All Companies | Recovery potential in undervalued UK shares |
| JPM Emerging Markets | Emerging Markets | AI supply chain and China recovery exposure |
| Lazard Emerging Markets Fund | Emerging Markets | Improving sentiment toward developing economies |
| Dodge & Cox Worldwide Global Stock Fund | Global Growth | Contrarian global stock selection |
| Artemis Smart GARP European Equity | Europe | Attractive valuations versus US equities |
| Fidelity Global Dividend Fund | Global Income | Defensive dividend growth strategy |
Source trends based on Fidelity ISA/SIPP sales data and Trustnet fund flow analysis.
Why These Funds Are Popular
1. Investors still want human stock selection
After several years dominated by mega-cap US technology stocks, many investors are becoming concerned about concentration risk in passive global trackers. This has renewed interest in active managers who can diversify away from the ‘Magnificent Seven’ technology names.
Reddit and FIREUK discussions increasingly show investors questioning whether passive global funds have become too concentrated in US tech.
This has benefited funds like Artemis Global Income and Dodge & Cox Worldwide Global Stock, which actively allocate capital across sectors and geographies.
2. Income matters again
Higher interest rates have changed investor behaviour. UK retail investors increasingly want portfolios that generate sustainable income alongside capital growth.
Trustnet data shows strong inflows into global equity income strategies during 2025 and early 2026, particularly:
- Artemis Global Income
- Fidelity Global Dividend
- TM Redwheel UK Equity Income
Many investors approaching retirement or seeking ISA income are attracted by dividend-paying global companies with pricing power and resilient cash flow.
A 5%+ income from low-cost ETFs
3. AI is driving fund flows
Even many ‘income’ or ‘global’ active funds now hold significant AI-related exposure through companies such as:
- Nvidia (NASDAQ:NVDA)
- Microsoft (NASDAQ:MSFT)
- TSMC (NYSE:TSM)
- Broadcom (NASDAQ:AVGO)
Fund managers increasingly argue that AI infrastructure investment represents a multi-year structural growth opportunity rather than a short-term trend.
AI investing: Bubble or start of new economic supercycle?
Manager commentary
A recurring theme among active managers is balancing participation in the AI boom with valuation discipline.
Managers at Artemis Global Income have repeatedly highlighted the importance of ‘cash-generative businesses with durable competitive advantages’, while maintaining selective exposure to AI beneficiaries. Investor discussions also point to the fund’s strong long-term consistency.
Meanwhile, many emerging market managers believe AI demand is strengthening long-term opportunities across semiconductor supply chains in Asia.
Performance and cost snapshot
| Fund | Ongoing Charge | Style | Risk Level | Key Attraction |
| Artemis Global Income | ~0.80% | Global dividend growth | Medium | Income + growth |
| Fidelity Special Situations | ~0.90% | UK value/recovery | Medium-High | UK undervaluation |
| JPM Emerging Markets | ~0.85% | Emerging market growth | High | China + AI supply chain |
| Dodge & Cox Worldwide Global Stock | ~0.65% | Contrarian global | Medium | Diversification |
| Fidelity Global Dividend | ~0.90% | Defensive global income | Medium | Lower volatility |
Charges are approximate retail share-class OCFs and vary by platform/share class.
The big trend: Active funds must justify higher fees
The challenge for active OEIC funds remains cost. UK investors can now buy global index funds for under 0.2% annually, making it harder for active managers charging 0.7%-1.0% to outperform consistently after fees.
This is one reason passive investing still dominates total retail fund flows. AJ Bell platform data showed seven of the top ten most-bought funds in 2025 were passive products.
However, active managers continue thriving in areas where investors believe skill matters most:
- Emerging markets
- Income investing
- Smaller companies
- Flexible asset allocation
- High-conviction growth investing
What UK retail investors should watch
For investors considering active OEIC funds in 2026, the key questions are:
- Can the manager outperform after fees?
- Does the fund offer something passive trackers cannot?
- Is performance driven by genuine stock-picking skill or simply AI momentum?
- Does the fund fit your ISA or pension time horizon?
Actively managed OEIC funds remain popular with UK retail investors and the most popular active OEIC funds today are generally those combining strong long-term track records with exposure to powerful structural themes like AI, dividend growth and global diversification. But with valuations in some growth sectors still elevated, investors should expect greater volatility and avoid chasing recent performance alone.
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