As reported by FTAdviser, this is an 11 per cent increase compared to the value at the end of 2019 to 2020, which HMRC said was driven by a 31 per cent increase in the market value of funds held in stocks and Shares Isas.
Stocks and shares Isa holdings accounted for 58 per cent of the market value of Isa funds, an increase from 49 per cent in 2019 to 2020.
Ormiston added: "Tax relief aside, investing in a portfolio of AIM shares can provide attractive diversification benefits, including exposure to technology, life sciences and consumer businesses which are under-represented on the main UK stock market.
"While changes to tax relief, principally the removal of IHT exemption from Aim shares, would undoubtedly dampen the popularity of investing in Aim companies, the underlying qualities of so many businesses listed on AIM are likely to ensure the long-term and dynamic growth of this market.”
Sophia Massam is interning with FTAdviser
