Fundsmith Equity

Charge: 0.94pc Cheapest share class: I 5-year return: 62.9pc

Investment star Terry Smith’s mantra of “buy good companies, don’t overpay, do nothing” has delivered stellar long-term returns. As a “growth” fund it has suffered recently but less so than many rivals and it remains among the top 25pc of its peer group over five years. It remains worthy of its relatively high charge.