The most popular stocks and funds investors bought in September

Major stock markets continued to climb in September, despite lingering concerns around geopolitics, tariffs and the economy.

September capped off another eventful quarter for investors, with the S&P 500 (^GSPC) up 14.5% year-to-date and the UK's FTSE 100 (^FTSE) gained 16% in that time, while the pan-European STOXX 600 (^STOXX) advanced 13%. In Asia, Hong Kong's Hang Seng (^HSI) is up more than 34% so far this year, while Japan's Nikkei 225 (^N225) has risen more than 20%.

Zara Nokes, global market analyst at JPMorgan Asset Management (JPM), said: "The third quarter of 2025 saw positive returns across most major asset classes as trade tensions subsided, AI euphoria continued, and expectations for near-term rate cuts from the Federal Reserve ... ramped up."

She said that growth-style stocks outperformed their value peers "as excitement around the tech sector ratcheted higher". Regionally, Nokes pointed out that emerging market stocks outperformed those in developed markets, led by the Chinese market, "buoyed by the extension of the US-China trade truce and AI optimism".

Another major focus for investors last month was the Fed's September meeting, after which the US central back announced a 0.25% interest rate cut. This lowered its benchmark interest rate to a range of 4% to 4.25% and was the Fed's first cut of 2025.

Read more: UK investors pull record amount from equity funds as they shun 'sky-high stock markets'

Meanwhile, the Bank of England (BoE) and the European Central Bank (ECB) kept their interest rates on hold at 4% and 2% respectively.

September also marked US president Donald Trump's state visit to the UK, during which £250bn of investment was pledged between companies from both countries.

As the month drew to a close, speculation ramped up in the UK as to what chancellor Rachel Reeves could announce in the autumn budget, following interviews and her speech at the Labour party conference.

Most popular stocks in September

Major FTSE 100 (^FTSE) companies were popular across each of AJ Bell (AJB.L), Bestinvest and Interactive Investor's lists last month.

This ranged from companies in the financial sector, to mining and housebuilding stocks.

Here's more detail on some of the stocks which proved most popular in August, according to investment platform data.

Legal & General (LGEN.L)

Financial services firm Legal & General (LGEN.L) featured across each of AJ Bell (AJB.L), Bestinvest and Interactive Investor's most popular stocks lists in September.

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Shares in L&G are trading just over 3% year-to-date, with the stock having fallen sharply in late August, suggesting investors were keen to buy the dip.

That's despite the company reporting 9% growth in its core operating earnings per share (EPS) at 10.94p for the first half of the year. In its first half results, published in August, L&G posted a 28% rise in pre-tax profit to £406m

At the time, L&G CEO António Simões flagged that the company's operating profit for its institutional retirement business was up double digits, along with "material progress" in the firm's asset management business.

Rolls-Royce (RR.L)Rolls-Royce was a popular stock in September as government pledges to spend more on defence have buoyed stocks with exposure to the sector this year.·picture alliance via Getty Images

Another name which featured across all three platforms' lists was aero-engineer Rolls-Royce (RR.L), as government pledges to spend more on defence have buoyed stocks with exposure to the sector this year.

Shares ended the month on a fresh high, with the stock up 104% since the start of 2025.

Rolls-Royce shares rallied after the company posted strong half-year results at the end of July. The company reported an underlying operating profit of £1.76bn ($2.38bn) in the first half of the year, compared to £1.15bn a year ago. Underlying revenue of £9.06bn was also up on the £8.18bn Rolls-Royce reported in the first half of last year.

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(RR.L)

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1,161.50

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Phoenix Group (PHNX.L)

Insurance firm Phoenix Group (PHNX.L) was another popular UK blue-chip stock across all three platforms in September.

Shares are up more than 30% year-to-date, despite the stock falling following the release of the company's interim results early last month.

Phoenix reported a 25% increase in adjusted operating profit to £451m, while loss after shrunk 76% to £156m in the first six months of its fiscal year.

In addition, the company said it rebranding from Phoenix Group Holdings to Standard Life in March 2026.

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660.50

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BP (BP.L)

Oil major BP (BP.L) appeared on both AJ Bell and Bestinvest's stock lists in September, with shares currently up nearly 10% so far this year.

That's despite continued volatility in oil prices, as developments in geopolitical conflicts drive the commodity higher, while concerns about oversupply and declining demand have led to a longer-term decline.

Like fellow FTSE 100-listed (^FTSE) oil major Shell, which also featured on AJ Bell's list, one appeal of BP to investors is its dividend yield, which sits at 5.6%, according to Hargreaves Lansdown.

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435.00

+3.40

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As of 11:26:37 AM GMT+1. Market Open. Advanced Chart

Nvidia (NVDA)

In terms of US stocks, chipmaker Nvidia (NVDA) remained one of the most popular stocks for investors using the Bestinvest and Interactive Investor platforms.

Victoria Scholar, head of investment at Interactive Investor, said that the company's shares "enjoyed another strong month, despite growing concerns about the dizzy heights reached by valuations in the sector."

Nvidia shares are trading more than 38% in the green year-to-date, buoyed by investor enthusiasm for artificial intelligence (AI).

In addition to announcing investment in the UK, during Trump's state visit, Nvidia (NVDA) also unveiled $100bn investment in ChatGPT developer OpenAI.

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At close: October 7 at 4:00:01 PM EDT Advanced Chart

The most popular funds in September

Passive exposure to the world's largest companies, including the major tech firms, continued to be a key theme in August's most popular funds list.

Kyle Caldwell, funds and investment education editor at Interactive Investor, said that a key trend on the platform's September most bought funds list was increased demand for precious metals.

The iShares Physical Gold (SGLN.L) exchange traded commodity (ETC) jumped to the top of Interactive Investor's list last month, while iShares Physical Silver (SSLN.L) also appeared on the list.

"As well as geopolitical tensions and concerns over US tariffs leading investors to seek out safe-haven assets, other drivers of both gold and silver include weakness in the US dollar, higher government debts, and fears that inflation will remain sticky," Caldwell said.

"For gold, another element has been high amounts of central bank buying to diversify away from fiat currencies and US government bonds."

Due to its wider industrial use, Caldwell said that silver prices have had a bumpier ride over the long-term than gold, meaning it has greater cyclical characteristics.

In terms of active funds, Artemis Global Income (0P0000W36K.L) once again featured on each of the platform's lists. The fund aims to grow both income and capital over a five year period, having generated a return of 158.9% over that time and has a historic yield of 2.63%.

Over one year, the fund has generated a return of 39%, beating an average return of 9.3% for the Investment Association Global Equity Income fund sector.

Top holdings include real estate investment trust Simon Property Group (SPG) and energy company Chevron (CVX).

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