Fundsmith Equity and Lindsell Train Global Equity are among the funds that have continued to outperform over 2017, following on from several years of strong returns for investors. 
With fewer geopolitical shocks the year so far, the forward momentum in markets seen at the end of 2016 has carried over into 2017, albeit at a slower pace.
However, a handful of funds with strong annualised performance have also enjoyed strong performance so far in 2017.
FE Trustnet identified six funds that have generated double-digit returns, in sterling terms, in each of the past five calendar years going back to 2012 and have risen by more than 10 per cent again during the first seven months of the year.
Of the six funds, four were located in the IA Global sector while the other two were IA North America funds.
For the purposes of this survey we have used sterling to determine the total return to UK-based investors. However, it should be noted that during the period under review sterling has enjoyed somewhat mixed performance, against the US dollar in particular.
Below, FE Trustnet explores the double-digit returning funds more closely.
Fundsmith Equity
The first on the list is FE Alpha Manager Terry Smith’s (pictured) five FE Crown-rated Fundsmith Equity fund. During the first seven months of the year, the fund rose by 14.53 per cent.
It was a top performer last year, returning 28.16 per cent and has delivered strong returns in each of the past six years since launching in 2011.
Performance of fund vs benchmark & sector YTD
Source: FE Analytics
Smith runs a concentrated portfolio of global equities, typically comprising between 20 and 30 stocks.
Since launch on 1 November 2010 to 31 July 2017, the fund has generated a total return of 239.64 per cent. In comparison, the benchmark MSCI World index is up by 124.31 per cent while the average IA Global fund has risen by 91.79 per cent.
The fund has an ongoing charges figure (OCF) of 1.05 per cent.
Lindsell Train Global Equity
Another favourite among investors and one that has generated the best 2017 performance of the six funds reviewed this year is Lindsell Train Global Equity.
The £3.2bn, five crown-rated fund is run by FE Alpha Manager Nick Train, Michael Lindsell and James Bullock and invests in global equities.
Like Fundsmith Equity, the managers run a concentrated portfolio of global equities counting Unilever, Diageo and Heineken among the largest holdings. It has a long-term approach, rarely adding new holdings or selling out existing ones.
During the first seven months of the year, the fund delivered a total return of 17.62 per cent. Since launch on 16 March 2011, the fund is up by 191.22 per cent to 31 July 2017 compared with an 85.74 per cent rise for the average IA Global sector fund.
Performance of fund vs sector YTD
Source: FE Analytics
“Sometimes we are asked what it is we do all day – given we are not trading in and out of our holdings,” wrote Nick Train in its most recent factsheet.
“One answer is that we are watching very closely the capital allocation decisions taken by the boards of the companies we hold – knowing that cumulatively and over time it is the calibre of those decisions that will determine the long-term success, or otherwise, of our own investment decisions, made with your capital.”
The fund has an OCF of 0.77 per cent.
Henderson Global Growth
Another five crown-rated global equity fund is the Henderson Global Growth, which has risen by 15.55 per cent in the year through 31 July.
The £515.7m fund is managed by Ian Warmerdam and Ronan Kelleher and has a bias to companies where innovation drives competitive advantage and those considered to underappreciated offering sustainably high levels of growth.
The fund holds 47 stocks, with none of the holdings currently exceeding more than 4 per cent of the portfolio, according to the most recent factsheet.
The fund has an 0.85 per cent OCF.
T. Rowe Price US Blue Chip Equity
One of two US funds in the study is the five crown-rated T. Rowe Price US Blue Chip Equity. As the name suggests, the $512.1m fund invests in a portfolio of US large- and medium-sized US ‘blue chip’ stocks and aims to increase in value over the long term.
Managed by Larry Puglia since 2001, the fund’s largest holdings include online retailer Amazon, Google parent Alphabet and social network Facebook.
The Luxembourg-based Sicav made 15.55 per cent during the first seven months of the year.
Performance of fund vs benchmark & sector YTD
Source: FE Analytics
While it has delivered a double-digit return this year and in each of the previous five years, the fund has a positive annualised performance going back to 2009.
The fund has an OCF of 0.82 per cent.
Janus US Twenty
The second US-focused fund among the study’s six funds with a strong annualised track record is the Janus US Twenty fund.
The $264.4m fund is has been managed by Douglas Rao and Nick Schommer since earlier this year and has a high conviction approach investing in a core portfolio of 20-30 stocks.
The strategy aims to identify firms that may generate high returns on capital, although due to the concentrated nature of the fund its “return volatility may be moderately higher”, according to the firm.
The fund’s largest sector exposure is to information technology stocks, which represent 37.09 per cent of the portfolio. A further 26.56 per cent is held in consumer discretionary stocks, the fund’s most recent factsheet to 30 April noted.
During the first seven months of the year, the fund returned 10.18 per cent. The fund has a 1.01 per cent OCF.
Fidelity Global Consumer Industries
The £547m Fidelity Global Consumer Industries is the final fund highlighted by this study. Managed by Aneta Wynimko since 2015, the fund was up by 13.03 per cent in the year to 31 July.
The strategy invests in a concentrated portfolio of companies around the world involved in the manufacture and distribution of goods to customers.
Wynimko looks for businesses with pricing power, strong brands and valuable intellectual property, according to Fidelity.
The manager places much importance on the quality of management teams and their track record “as she believes a clear vision on brand and coherent execution are key in a globalised world made up of a multitude of competitors”.
She also looks for innovative companies able to develop products consumers are willing to pay a premium for. Top holdings in the fund include Amazon, luxury goods company LVMH and consumer goods conglomerate Nestle.
The fund has an OCF of 1.08 per cent.