The Growth 10 highlights the best funds for investors seeking the highest return for their money. The Telegraph 25 is the definitive list of our favourite funds and we also showcase the best 10 funds for income, preserving your money, investing ethically and keeping costs low with ETFs 

The Telegraph Growth 10 is a shortlist of our favourite funds for Isa and Sipp investors seeking the highest growth possible for their money.

The Growth 10 is produced alongside the Telegraph 25, the definitive list of our favourite funds. It is intended as a more specialised list for investors for whom the total return on their investment over the long-term is their sole consideration.

That means it contains some of the Telegraph 25’s riskier funds, but which have shown their ability to deliver strong growth. 

The list is not confined to those funds concentrating on “growth” stocks, those which may not be delivering big profits now but which promise to grow their earnings at a fast rate in the future. Funds with a “value” approach also feature, based on their record of growing investors’ savings, and our view on their prospects of doing so in the future.

1. Marlborough UK Micro Cap Growth

A strong option for those who want to benefit from the growth offered by Britain’s smallest companies. Veteran Giles Hargreaves has stepped down from the fund but his successors have continued his good work.

Charge: 0.81pc* | Cheapest share class: P |  Five-year return: 57pc

2. Fidelity Special Values

Alex Wright, manager of this investment trust, has returned to form after years of struggle. Value stocks remain his bread and butter and his longer-term record is impressive. Underpriced small and medium-sized British firms feature, as do FTSE 100 blue chips.

Charge: 0.72pc | Ticker: FSV  | Five-year return: 27pc

3. Liontrust Special Situations

Managers Anthony Cross and Julian Fosh invest in British companies of all sizes and few have matched their record over the past decade.

Charge: 0.81pc | Cheapest share class: I |  Five-year return: 29pc

4. Fundsmith Equity

Investment star Terry Smith’s mantra of “buy good companies, don’t overpay, do nothing” has delivered stellar return for Britain’s largest fund. Despite a drop-off recently, this long-term strategy has proved it works and remains worthy of its relatively high charge.

Charge: 0.95pc | Cheapest share class: I |  Five-year return: 73pc

5. Premier Miton European Opportunities

The case for Europe remains strong and this fund has delivered remarkable returns. Managers Carlos Moreno and Thomas Brown have been well ahead of rivals, focusing on quality companies they own for a long time.

Charge: 0.81pc | Cheapest share class: B | Five-year return: 86pc

6. Scottish Mortgage

This standout trust made its name backing fast-growing companies that revolutionised their industries. This strategy is struggling at the moment but that should not deter investors. Low charges and access to unlisted companies make this a must-have in any growth portfolio.

Charge: 0.34pc | Ticker: SMT | Five-year return: 141pc

7. BMO Global Smaller Companies

Its heritage stretches back 133 years and this trust offers access to smaller stocks trading on markets around the world. Manager Peter Ewins invests in funds run by specialists, including those not available to DIY investors.

Charge: 0.78pc | Ticker: BGSC | Five-year return: 18pc

8. JP Morgan Emerging Markets

Veteran manager Austin Forey, an investor in emerging markets since 1994, runs this £1.5bn trust. Most of it is held in Asian companies. Despite recent struggles, it has beaten rivals over three and five years.

Charge: 0.9pc | Ticker: JMG | Five-year return: 45pc

9. Biotech Growth

Biotechnology stocks have offered great returns and diversification in the past decade. Few funds picked as many winners. The specialist portfolio is strictly for the adventurous, however, with holdings in small and unknown stocks that may shine in future.

Charge: 1.28pc | Ticker: BIOG | Five-year return: 14pc 

10. HarbourVest Global Private Equity

Private companies are usually out of reach for DIY investors, but can be accessed through trusts such as this. It buys other funds, offering a slice of thousands of unlisted firms.

Charge: 0.41pc | Ticker: HVPE | Five-year return: 86pc 

*Fund is available for a cheaper price on Hargreaves Lansdown