Pep sales soared in February with a 63 per cent increase on the previous year, according to the latest Association of Unit Trusts and Investment Funds monthly survey.
The month on month rise in retail Pep sales was 106 per cent, 52 per cent higher than the previous February.
Funds under management in unit trusts and Peps topped £52bn up 29 per cent on February 1998.
Autif director of communications Anne McMeehan says: "There is an increasingly marked concentration in the Pep market. It is surprising just how much business is going to a relatively small number of suppliers.
"What will be interesting to look for in the months ahead will be whether this trend continues with the advent of Isas."