Over £79m more was invested into ISAs in April than was invested in total over the previous 12 months.

The Investment Association, the fund manager trade body, is to create eight new sectors from the Global and Specialist sectors from 13 September.

UK savers invested £4.4bn into funds in March, taking the first quarter of the year to positive net retail inflows of £10bn.

Financial Planners will be able to compare over 530 ETFs from UK providers within the Investment Association’s sectors from Monday.