The assets were boosted from the previous year by about 21 billion pounds in net sales to retail investors, while institutions allocated a net 11.4 billion pounds, the trade body said in a statement.
Equity funds were the best-selling products, with net retail sales of 8.6 billion pounds.
Funds tracking an index grew their assets at a faster pace of 23.5 percent last year, to manage a record 93 billion pounds at the end of 2014.
(Reporting by Nishant Kumar; editing by Carolyn Cohn)