Key Takeaways
- Schroder International Selection Fund Global Gold was the best-performing fund available to Finnish investors in 2025, surging nearly 160%.
- Emerging markets and regional equity funds featured prominently among the worst performers, with several India Equity funds posting double-digit losses.
- Despite wide dispersion in results, 2025 was a strong year overall for Finnish investors: almost 75% of available funds ended the year in positive territory.
Gold was one of the strongest asset classes in 2025, with prices reaching record highs during the year. The rally was driven by geopolitical uncertainty, high levels of government debt, and continued purchases by central banks.
For funds investing in gold mining equities, this created a particularly favourable environment, with some companies posting significantly stronger share price gains than the metal itself. Gold was not the only precious metal in focus during the year. Silver prices also reached new record levels and began to outperform gold.
Out of the 1,567 funds available for sale to Finnish investors, the vast majority had a positive year: 1,175 funds, or 74.9%, rose in 2025 with an average gain of 6.48%.
For this review, we analyse the oldest share class of funds available for sale in Finland and include only funds with a minimum investment requirement of EUR 10,000 or less. All data is reported in EUR.
Schroder International Selection Fund Global Gold
- Morningstar Category: Equity Precious Metals
- Ongoing Charge: 1.03%
- Morningstar Rating: ★★★★
The actively managed Schroder International Selection Fund Global Gold gained 159.62% in 2025, outperforming the average fund in the equity precious metals category, which rose 131.47%. The fund placed in the 12th percentile for performance and beat its benchmark, the Morningstar Global Gold Index, by 40.02 percentage points. The €2 billion fund has gained 159.62% over the past year, while the average fund in its category is up 131.47%. The Schroders fund is up 53.35% over the past three years and is up 24.66% over the past five years.
Ninety One Global Strategy Fund - Global Gold Fund
- Morningstar Category: Equity Precious Metals
- Ongoing Charge: 1.9%
- Morningstar Rating: ★★★
In 2025, the actively managed Ninety One Global Strategy Fund - Global Gold Fund rose 146.46%, while the average equity precious metals fund gained 131.47%. The fund placed in the 34th percentile for performance and beat its benchmark, the Morningstar Global Gold Index, by 26.86 percentage points. The €1.1 billion fund has climbed 146.46% over the past year, outperforming the average fund in its category, which rose 131.47%. The Ninety One fund has gained 44.14% over the past three years and gained 21.71% over the past five years.
BlackRock Global Funds - World Gold Fund
- Morningstar Category: Equity Precious Metals
- Ongoing Charge: 2.08%
- Morningstar Rating: ★★★
The €10.2 billion BlackRock Global Funds - World Gold Fund rose 128.78% in 2025. The gain on the actively managed fund was roughly in line with the 131.47% gain on the average fund in the equity precious metals category, leaving it in the 58th percentile for performance. The fund beat its benchmark, the Morningstar Global Gold Index, by 9.18 percentage points. Over the past year, the BlackRock fund rose 128.78%, while the average fund in its category rose 131.47%. The fund has climbed 41.8% over the past three years and gained 19.39% over the past five years.
CPR Invest - Global Gold Mines
- Morningstar Category: Equity Precious Metals
- Ongoing Charge: 2.06%
- Morningstar Rating: ★★★
The actively managed CPR Invest - Global Gold Mines gained 127.16% in 2025, performing roughly in line with the average fund in the equity precious metals category, which rose 131.47%. The fund placed in the 62nd percentile for performance and beat its benchmark, the Morningstar Global Gold Index, by 7.56 percentage points. The €2.3 billion fund has gained 127.16% over the past year, while the average fund in its category is up 131.47%. The CPR Asset Management fund is up 40.84% over the past three years and is up 20.83% over the past five years.
Alken Fund - European Opportunities
- Morningstar Category: Europe Flex-Cap Equity
- Ongoing Charge: 1.85%
- Morningstar Rating: ★★★★★
The actively managed Alken Fund - European Opportunities gained 54.29% in 2025, outperforming the average fund in the Europe flex-cap equity category, which rose 14.68%. The fund placed in the first percentile for performance and beat its benchmark, the Morningstar Developed Europe Target Market Exposure Index, by 34.51 percentage points. The €932.4 million fund has gained 24.44% over the past three years, while the average fund in its category is up 10.88%. Over the past five years, the AFFM fund has climbed 20.85%, compared to the 7.19% gain for the category.
HSBC Global Investment Funds - Turkey Equity
- Morningstar Category: Other Equity
- Ongoing Charge: 2.15%
- Morningstar Rating: None
The actively managed sub-fund HSBC Global Investment Funds – Turkey Equity invests primarily in equity securities and equity equivalent securities of companies which have their registered office in Turkey, and with an official listing on a major stock exchange or other Regulated Market of Turkey, as well as those companies which carry out a preponderant part of their business activities in Turkey. The fund lost 21.15% in 2025.
TIN Ny Teknik
- Morningstar Category: Nordic Small/Mid-Cap Equity
- Ongoing Charge: 1.5%
- Morningstar Rating: ★
In 2025, the actively managed TIN Ny Teknik fell 20.5%, while the average nordic small/mid-cap equity fund gained 11.64%. The fund placed in the 100.0th percentile for performance and lagged its benchmark, the Morningstar Nordic Target Market Exposure Index, by 28.4 percentage points. The €262.4 million fund has dropped 20.5% over the past year, underperforming the average fund in its category, which rose 11.64%. The TIN Fonder fund has lost 5.8% over the past three years and lost 13.31% over the past five years.
Comgest Growth India
- Morningstar Category: India Equity
- Ongoing Charge: 1.97%
- Morningstar Rating: ★★★
In 2025, the actively managed Comgest Growth India fell 17.47%, while the average India equity fund lost 13.53%. The fund placed in the 85.0th percentile for performance and fell further than its benchmark, the Morningstar India Target Market Exposure Index, by 9.35 percentage points. The €54.3 million fund has climbed 7.73% over the past three years, outperforming the average fund in its category, which rose 7.26%. Over the past five years, the Comgest fund is up 8.38%, while the average fund in its category is up 9.66%.
BL-American Small & Mid Caps
- Morningstar Category: US Mid-Cap Equity
- Ongoing Charge: 1.4%
- Morningstar Rating: ★★★
The €382.8 million BL-American Small & Mid Caps fell 17.46% in 2025. The loss on the actively managed fund was worse than the 6.65% loss on the average fund in the US mid-cap equity category, leaving it in the 100.0th percentile for performance. The fund fell further than its benchmark, the Morningstar US Mid Cap Index, by 14.08 percentage points. Over the past three years, the Banque de Luxembourg Investments fund fell 0.16%, while the average fund in its category rose 8.73%. Over the past five years, the fund has climbed 2.74%, compared to the 6.72% gain for the category.
OP-Intia
- Morningstar Category: India Equity
- Ongoing Charge: 2.2%
- Morningstar Rating: ★
The actively managed OP-Intia lost 16.55% in 2025, falling further than the average fund in the India equity category, which fell 13.53%. The fund placed in the 79.0th percentile for performance and fell further than its benchmark, the Morningstar India Target Market Exposure Index, by 8.43 percentage points. The €116.5 million fund has gained 2.45% over the past three years, while the average fund in its category is up 7.26%. Over the past five years, the OP fund has climbed 5.69%, compared to the 9.66% gain for the category.
