A new study has found that over the longer term active funds have - on average - outperformed passive funds despite the fact that just 1 in 3 active funds have beaten passive funds this year.

Fund manager Schroders has launched a blended range of fund portfolios that will switch between passive and active funds depending on the economic conditions.

Figures from investment platform Hargreaves Lansdown have revealed that UK funds are becoming more popular with last minute ISA investors as the end of the tax year looms this week.

Terry Smith’s popular Fundsmith Equity fund was the most recommended investment by financial advisers in January and February, according to figures from AJ Bell’s platform.