More than half (55%) of British adults do not have any investments amid a general lack of understanding, according to Aviva.

Aviva’s study found that 33% of those who do not invest said it was because they do not know enough about it.

Meanwhile, 39% of non-investors were being put off by thinking that investing was too risky and they were concerned they would lose money compared to current or savings accounts.

Almost a quarter (23%) lacked confidence to begin investing and said they did not know where to start, while 16% found it too complicated.

More than one in 10 (11%) believed a lot of money was needed to start investing and 47% said they did not have any spare funds to invest.

Among those who do invest, 49% agreed that rate of return or growth were the among the most important factors for them when considering investments.

Other considerations for investors included low fees and costs (39%) and individual risk tolerance (32%).

Over a quarter (28%) would look at the reputation of a financial institution, while 22% considered their past performance record.

Just 18% of investors said they thought about tax relief when making their choices.

Aviva has launched a new campaign designed to ‘shine a light on investments’ and give people confidence and support on investing.

"Investing plays a vital role in helping people grow their wealth over the long term, and we want more consumers to benefit from the opportunities it offers," commented Aviva head of investments, consumer wealth, Donato Boccardi.

"At Aviva, we invest with a regulated, long-term approach designed to deliver balanced outcomes for our customers.

"Too many people are missing out because they believe investing is out of reach, when in reality if you start small and build gradually you can make meaningful progress.

"Our focus is on giving people the tools, confidence and support to take that first step and to stay invested for their future."

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