Savers pile into America: Investors flock to funds with heavy exposure to the booming US stock market
Investors are flocking to global funds with heavy exposure to US stocks
Savers looking to take advantage of America’s booming stock market have helped AJ Bell attract customers over the last year.
Investors flocked to global funds with heavy exposure to US stocks, the investment platform revealed, as markets across the pond bounced back quickly following the coronavirus lockdown.
British savers have been keen to put their spare cash to work during the pandemic, as many have found themselves spending less due to reduced travel and fewer trips out.
AJ Bell saw 62,925 customers join its platform over the year to September, bumping its total up to 281,094.
They invested £4.1billion of their money, meaning AJ Bell is looking after £46.7billion of savers’ cash on its platform – up 11 per cent on the same time last year.
The average age of its customer has fallen from 44 to 38 over the past 18 months.