The UK's fund management trade body has given the green light for exchange traded funds to be included within its sectors from April, a move that will allow some of the fastest-growing passive investments to be put on a level playing field with thousands of active funds.

The Investment Association, which represents the UK’s £8.5tn fund management industry, confirmed in May 2019 that it would include more than 500 ETFs within its sectors, which divide funds into categories based on their investment approach.