As a result of a rallying equity market, some £8.9bn of the £18.1bn that went into tracker funds were equity exposures.
Retail’s £15bn investment in 2019 is more than double of that in the previous year. Funds under management in the UK reached an all-time high of £1.3trn by the year’s end.
Furthermore, the IA also announced responsible investment funds received £1.3bn in new net assets in Q4 2019 across both passive and active strategies. This was up from £190m in the first quarter of the year.
Chris Cummings, chief executive of the IA, commented: "As global stock markets climbed, many savers swung heavily behind tracker funds in 2019.
"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."