UK savers invested £15bn into the UK retail fund market in 2019, doubling the total of the previous year, new analysis published by the Investment Association (IA) revealed.

IA announced that the size of the funds under management in the UK reached a new all-time-high of £1.3trn at the end of 2019.

The analysis of industry data also showed a record £18.1bn was placed into tracker funds last year, up by nearly 70% from the previous record of £10.8bn set in 2017. IA suggested that most major stock markets had performed well, particularly in the second half of the year, and recorded £3.2bn in outflows from active funds in 2019.

IA’s analysis also showed that £1.3bn of net retail sales flowed into responsible investment funds in the final quarter of 2019 – a rise from the £190m registered in the first quarter of 2019.

IA chief executive, Chris Cummings, said: “Amid significant political uncertainty and challenging economic headwinds globally, the amount managed in funds on behalf of UK savers grew to new heights of £1.3trn. As global stock markets climbed, many savers swung heavily behind tracker funds in 2019.

“We also saw investors ramping up the hunt for funds that consider the impact of their investment strategy on the wider world, as they ploughed £1.3bn into responsible investment funds in the final quarter of the year alone.”

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