Funds under management held in responsible investment funds have risen 66% over the past 12 months, according to new statistics.

The data published today by the Investment Association showed that UK savers put almost £1bn a month on average into responsible investment funds in 2020.

Responsible investment funds under management now total over £56bn, growing 66% over the past 12 months, to make up a total of 7% across funds overall.

Almost 60% of this £56bn is invested in equity funds.

Over the last 12 months, responsible investment equity funds made up the highest proportion of flows, with average monthly sales of £510 across the time period.

The approach of the funds was also broken down by the statistics by the Investment Association. 66% of responsible investment funds under management have a sustainability focus and 72% exclude certain types of investments, with 42% doing both.

In January across the broader fund market, net retail sales maintained a £3.2bn inflow.

Of the £1.2bn invested in responsible investment funds in January, £703m was invested in equity funds, £180m was invested in bond funds and £241m was invested in mixed asset funds. Their overall share of industry funds under management was 4%.

Total net retail sales over the last 12 months for responsible investment funds were £12.4bn, almost half (43%) of total net sales.