Investor confidence in UK markets rose 70% in May, according to the latest Investor Confidence Index.

The index compiled by Hargreaves Lansdown found that confidence in UK economic growth increased at an even quicker pace, rising 85% from April.

Confidence in all region rose in April, with confidence in Europe rising 55% from April.

Whilst confidence in the US also rose, the magnitude of the rise was much smaller than other markets at 8%, suggesting investors may still be mistrustful of Trump.

Victoria Hasler, head of fund research at Hargreaves Lansdown, said: “After a terrible month in April, May saw a huge rebound in investor confidence among HL clients. The pause in tariffs, combined with opportunities presented by the fall in markets, saw investor confidence rise across all regions in our survey.

“The UK saw the biggest rise, with investor confidence increasing by an impressive 70% from the previous month. It should be noted that April was a low point for the UK, with the smallest confidence number of any region in our survey but, even so, the rebound was dramatic.”

The most popular fund amongst Hargreaves Lansdown clients in May was Artemis Global Income. This is the first time for several months an actively managed offering was the most popular.

Passives remained a popular choice with investors overall, with eight of the top ten funds being index trackers.

Hargreaves Lansdown sends the investors’ confidence survey to 6,000 randomly selected clients each month, with a response rate of 10% on average.

The May survey was open from 01 to 08 May.