Euro star

Demand for European shares has ignited in 2025 as the buzz around US stocks has faded. Fears over company valuations and the political landscape Stateside have seen investors seek out better-value shares in Europe.

The scale of the turnaround is reflected in fund flows at Hargreaves Lansdown. European equity funds on its platform enjoyed inflows of £69.2m in the first nine months of 2025. That compares with outflows of £207m in the same period last year.

I think shares on the continent could have further to climb, and that JPMorgan European Growth & Income (LSE:JEGI) is a top investment trust to consider in this climate.

It’s risen an impressive 34% in value since 1 January, far greater than the S&P 500‘s 14% rise.

In total, the trust holds shares in 106 companies across a range of sectors and countries, though it largely excludes UK shares. Such diversification doesn’t eliminate the threat of earnings and dividends disappointment, but it helps to spread out the risk.

What I like about this JPMorgan trust is that portfolio changes have helped it outperform the broader European share complex of late. As analysts at Kepler Trust Intelligence note, it has reduced “exposure to some of the global leaders that have dominated European equity portfolios for many years in favour of more domestically orientated stocks that are benefitting from positive changes in the outlook for Europe.”

I think it’s a top trust to consider for investors seeking a European flavour.

Tech titan

The Allianz Technology Trust (LSE:ATT), as the name implies, doesn’t enjoy the same sector diversification that can limit downturn risk. History shows that tech shares can drop sharply when the economic landscape worsens.

Yet it’s still a top investment trust that long-term investors should consider. Its wide range of holdings (50 in total) — comprising industry heavyweights like Nvidia, Microsoft, Apple and Alphabet — provide multiple ways to capitalise on the digital revolution.

Since 1 January, it’s risen 18% in value amid further encouraging signs over the growth of artificial intelligence (AI). That’s also a better return than the broader S&P 500 has delivered.

As I say, this Allianz Trust includes companies with market-leading positions and great records of innovation. And importantly for future growth, very deep pockets for project investment. However, it also includes a large concentration of mid-cap tech stocks that could deliver superior long-term earnings growth.

Importantly, this mid-cap weighting provides an added bonus, as worries over the high valuations of the industry’s beasts grow. This could protect the fund from the worst if the ‘Magnificent Seven’ shares and others experience a correction.

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