UK online-only retailer, Asos has reported an impressive 20 per cent increase in sales over the past four months. This is welcome news for the former AIM-listed fashion shop after what was a pretty dismal year in 2014.

UK sales rose 27 per cent in the four months to June 30 – with the UK accounting for 60 per cent of the retailer’s business. Overseas sales are up 16 per cent, but the strength of the pound is hindering the numbers and forcing the retailer to slash prices for the Eurozone, Australia and New Zealand.

This update will come as welcome news for investors – a year on from a string of profit warnings - and who can forget that fire at its main warehouse in the UK?

That run of bad luck cost Asos £30m of sales and more than 60 per cent drop in its share price.

Asos is better known for its fast rise to the limelight from its Alternative Investment Market (AIM) starting block – with the share price up almost 16,000 per cent since it floated.

For those looking to get exposure to the fashion retailer, there are only three recorded funds at present with Asos in its top 10 holdings; Baillie Gifford UK Equity Alpha fund among the three.

Asos accounts for 3.7 per cent of the £134m fund’s holdings.

Investors should note that the fund has failed to outperform the IA UK All Companies sector since last May – even though it has outperformed its sector over the past six months by 4.5 per cent.

The fund is very concentrated – and generally comprises of 30 to 40 holdings, which lends a heightened level of volatility to the fund.