Could we be embarking on a golden age for UK and European shares, funds and investment trusts? It’s early days. But a client survey from Hargreaves Lansdown suggests it may be a possibility, as economic policy from the Trump administration turns off investors.

According to the trading platform, investor confidence in North America has sunk 17% in March, as its customers “baulked at the impact that some of the new president’s policies appear to be having on markets“.

The company’s survey, on the other hand, showed confidence in the UK spiked 16% this month. The improvement in Europe was even greater, up 48%.

For Europe, Hargreaves said that “after some difficult months, [our] investors seem to have faith that the political situation is settling down“. It added that confidence in the UK economy has also surged in recent weeks.

It commented that “investors continue to favour global funds,” but added that its clients “are now starting to look at European and UK funds too“.

It’s important to say that confidence in Britain and Mainland Europe is rising from a low base. And what’s more, the US stock market still carries considerable opportunities for investors, which means interest is unlkely to fall off a cliff.

But for individuals looking to buy more local assets today, here are two top investment trusts I think are worth consideration.

1.Schroder European Real Estate Investment Trust

Years of underperformance means Schroder European Real Estate Investment Trust (LSE:SERE) trades at a 35.2% discount to its estimated net asset value (NAV) per share.

This could provide further scope for it to rise following recent gains. It was recently trading at at 67.8p per share.

Schroder’s trust owns assets in what it describes as “winning cities” like Paris and Berlin. We’re talking locations with good infrastructure, differentiated economies, wealthy populations and excellent retail and leisure facilities.

It’s an approach that — despite persistent interest rate risks — could deliver excellent long-term returns.

This investment trust may be an especially attractive pick for dividend investors. Under real estate investment trust (REIT) rules, it must pay at least 90% of yearly rental income out in the form of dividends.

For this financial year (to September) its dividend yield is a whopping 7.5%.

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2. Supermarket Income REIT

Supermarket Income REIT‘s (LSE:SUPR) another property trust trading extremely cheaply today. At 73.8p per share, it’s dealing at a 17% discount to its NAV per share. An 8.3% dividend yield provides further appeal for value investors.

As with other REITs, it’s vulnerable to a spike in interest rates. It also faces a more specific threat in the steady growth of online retail.

But on the whole, Supermarket REIT’s a rock-solid trust, in my eyes. Its focus on the highly stable food retail market provides excellent earnings and dividend visibility. It also lets its properties to industry heavyweights like Tesco and Sainsbury’s, further mitigating the threat of occupancy issues and missed rent collections.

I think it could be a great long-term investment as the UK’s increasing population drives food retail growth.