Top FTSE 250 Investment Trusts to Explore This April
About a third of the FTSE 250 now consists of investment trusts. These vehicles let investors access diversified portfolios run by professional managers. In April, some trusts stand out for distinct strategies and clear valuation stories.
Schiehallion Fund (LSE:MNTN) — private markets focus
Schiehallion is managed by Baillie Gifford and joined the mid-cap index in March. The trust has more than doubled over the past 12 months.
Despite that rise, the share price remains roughly 36% below peaks seen in 2021. The fund targets later-stage private growth companies not yet listed on exchanges.
Portfolio and recent performance
Notable holdings include SpaceX, ByteDance, Stripe, and Anthropic. The trust also holds Revolut, Databricks, and UK self-driving software firm Wayve.
In 2024 it made six new investments from over 600 financing rounds reviewed. Net asset value rose 9.9% in the first half of 2025, led by SpaceX and Bending Spoons.
Strategy and risks
Schiehallion often keeps stakes after firms list, so it still holds Wise, Affirm, Chime, and Tempus AI. This approach aims to capture more of a company’s lifecycle.
Key risks include potential upward pressure on interest rates, which could hurt growth valuations. A major event, such as a SpaceX IPO, could push the trust sharply higher or lower.
Finsbury Growth & Income Trust (LSE:FGT) — UK equity value play
Finsbury focuses mainly on UK-listed companies and is run by Nick Train. The trust has endured a difficult recent run.
Since January 2025 the shares have fallen about 25%. Over five years the trust is down roughly 17.5%, lagging the FTSE All-Share index.
Holdings, valuation and yield
Current portfolio names hit by the 2026 software sell-off include Sage, Experian, London Stock Exchange, RELX, Rightmove, and Autotrader. Past disappointments include Diageo, Fevertree Drinks, and Burberry.
Sage trades near 15 times next year’s earnings and Autotrader at about 12.3 times. The trust itself is roughly 7.3% below net asset value and yields about 2.8%.
Investment case
Many positions look attractively priced on a recovery scenario. If key holdings stage turnarounds, the trust could outperform from current levels.
The manager’s stock selection has underperformed recently, so this is a higher-conviction, contrarian idea. Some investors may find the trust appealing near 725p.
Both examples demonstrate the variety within FTSE 250 investment trusts. Investors should assess strategy, fees, and risk before allocating capital. Filmogaz.com recommends due diligence and a focus on portfolio fit this April.
