More than £2.3 billion of fund purchases were executed within ISAs through the bull market of 2013/14, an increase of more than £1 billion on 2012/13.
Despite the breakdown into greater volatility at the end of the period, retail investors showed no sign of flagging interest, investing £358 million in the last five days of the tax year.
The figures, released by the UK Investment Management Association, showed that UK funds managed a total £748 billion at the end of the period.
Overall net sales in March stood at £2.3 billion, a month-on-month increase of more than £400 million, with equity funds sales of £952 million 10 times the comparable figure in March 2013.
‘This demonstrates consistent retail appetite for investment funds,’ said Daniel Godfrey, chief executive of the IMA (pictured).
‘The sector rankings show strong sales across a wide range of asset classes, but equity funds with an income bias remained popular.’
UK equity was the best-selling region with net fund sales of £542 million followed by global on £448 million. Investors redeemed a net £221 million from Asian equity funds in the month, followed by £50 million from US funds in the month.
The highest-ranked fixed income class was Sterling Strategic Bond, with net sales of £240 million.