No adviser would suggest these funds form a large part of any portfolio, but for investors with an appetite for risk, there are a few far-flung regions that can give their returns an extra kick.
Here are some five crown-rated single-country funds profiting from the high-growth economies.
Thailand
The stock exchange of this south-east Asian country has risen 30.99 per cent over the past year, while the FTSE All Share has made just 14.73 per cent.
More than doubling the returns of the more developed index is an impressive feat in itself, but a number of funds that invest in the country have done even better than that.
The $350m, five crown-rated Allianz Thailand Equity fund came out on top over the last year, making 45.99 per cent, according to data from FE Analytics.
Performance of fund vs index over 1yr
Source: FE Analytics
The fund is domiciled outside the UK which may explain why so few people have heard of it.
It has made 557.6 per cent over the past decade compared with 519.95 per cent from the Stock Exchange of Thailand.
By comparison, the FTSE All Share has made just 152.19 per cent over the last 10 years, albeit with less than half the risk of the Thai portfolio.
Over the past three years it has made 149.05 per cent, more than any fund in the entire IMA universe, while the index has risen 116.27 per cent.
The ongoing charges are steep, at 2.3 per cent, and it requires a minimum initial investment of $5,000.
Turkey
The FTSE Turkey index was one of the standout performers in 2012, rising 60.75 per cent.
The country has continued to gain traction in 2013 and over the past 12 months it is up 39.09 per cent, according to data from FE Analytics.
The only UK fund focusing on the country is the five crown-rated JPM Turkey Equity portfolio, run by FE Alpha Manager Oleg Birulyov.
However, the €117.6m portfolio has slightly underperformed the index over the past year, returning 36.8 per cent.
The five crown-rated, Luxembourg-domiciled HSBC GIF Turkey Equity fund has returned 46.76 per cent over this time, meaning it has beaten both the JPM fund and the index.
Performance of funds vs index over 1yr
Source: FE Analytics
The fund is managed by Ercan Guner, a Turkish equity specialist, and has a strong medium-term record.
Over the past five years it has made 139.11 per cent compared with 110.44 per cent from the FTSE Turkey index.
The ongoing charges are 2.23 per cent and the minimum initial investment is €5,000. It has €282m AUM.
Nigeria
Perhaps understandably, many investors would balk at the thought of putting money in the tumultuous African nation, but those who can stomach the volatility could see healthy gains.
One of the best-performing funds of the past 12 months has been Imara Nigeria, with returns of 51.2 per cent.
Although the $9.4m fund has five FE Crowns, it is run by specialist African managers Imara out of the British Virgin Islands, making it quite exotic for most UK retail investors.
Over the medium-term, performance has been less impressive, with the fund up only 34.19 per cent over three years and 18.53 per cent over five.
However, the country has been getting attention from some frontier market managers, which offer a more conventional route for those nervous about investing offshore.
The $1.5bn Templeton Frontier Markets fund, run by Dr Mark Mobius, has 14.34 per cent in the country, according to data from FE Analytics, more than any other non-African fund in the IMA universe.
The fund has made 17.76 per cent over the past year compared with 19.59 per cent from the MSCI Frontier Markets index.
However, it has marginally outperformed over three years, making 8.71 per cent against the index’s 6.79 per cent.
Performance of fund vs index over 3yrs
Source: FE Analytics
A number of fund houses have launched new funds focused on frontier markets in recent months.
Some see the countries as the emerging markets of the future while others like them for their low correlation to developed market stock indices.
Templeton Frontier Markets has ongoing charges of 2.57 per cent and requires a minimum initial investment of £5,000.
Japan
The five crown-rated Legg Mason Japan Equity is the fund that has made the most of the surge in Japanese stock markets following the election of a new government last year.
It has made 65.47 per cent over the past 12 months, more than any other fund in the IMA universe.
These returns are even more impressive when compared against the meagre returns of the market over this time.
The TSE Topix stock exchange has made just 14.46 per cent while the average fund in the IMA Japan sector is up 16.63 per cent.
Performance of fund vs sector and index over 1yr
Source: FE Analytics
The £85m fund is a concentrated portfolio of just 37 stocks. It is run by Shiozumi Asset Management, which has also vastly outperformed its market over three years.
Over that time it has made 107.75 per cent compared with 10.1 per cent from the Topix index.
The fund invests in smaller companies which have more growth potential and are more risky, and this in part explains their outperformance.
While over the last year the fund has shot the lights out, investors would no doubt have been on the edge of their seats during the years surrounding the financial crisis.
The Japan portfolio made healthy gains well ahead of the sector in 2003, 2004 and 2005, but it then shed an eye-watering 50.56 per cent in 2006 and continued to lose money each year up to 2009.
The fund returned to outperformance in 2010 and so far this year it is up 41.69 per cent, more than doubling the returns of the IMA Japan sector.
It is available with a minimum initial investment of £3,000 and has ongoing charges of 1.96 per cent.