With the vast majority of the traumatic market falls caused by the financial crisis seen early in 2008, much of the damage done to returns is now working itself out of performance stats.

As a result, many sectors have seen significant returns over five years, but the number of funds which have actually doubled your money remains a tiny proportion of the 2,000 plus IMA universe.

In total, 78 funds would have returned at least 100% if you bought in during the summer of 2008, according to data compiled by Morningstar for Your Money’s sister title, Investment Week.

Below we reveal some of the big winners, and the sectors which house the majority of the top performers.

Small caps lead the pack

Small-cap funds reaped the rewards of the market recovery more than most; no less than 19 funds in the IMA UK Smaller Companies sector have generated triple-digit returns over five years.

High profile names such as Standard Life Investments’ UK Smaller Companies fund (up 105.2%), run by Harry Nimmo, and Cazenove’s UK Smaller Companies fund (160%) – run by Paul Marriage – are in amongst the 19 names, but top of the pile is Fidelity’s Alex Wright, whose £319m Fidelity UK Smaller Companies fund has generated a return of 234.6% over five years.

Other small-cap areas have also performed strongly, with five North American small-cap funds – Janus US Venture (133.9%), Threadneedle American Smaller Companies (130.9%), F&C US Smaller Companies (125.2%), JPM US Smaller Companies (119.6%) and FF&P US Small Cap Equity fund (107.3%)  all delivering over 100%.

Elsewhere, three Japanese small-cap funds – from fund houses M&G, Baillie Gifford and Aberdeen – benefited from a marked improvement in Japan’s economic performance.

The £80m M&G Japan Smaller Companies fund, managed by Max Godwin, has returned 135.1%, while the £98m Baillie Gifford Japan Small Companies fund, managed by John MacDougall has made 116.1%. The £327m Aberdeen Global Japanese Smaller Companies fund, headed up by Hugh Young, also makes the grade with a return of 113.3%.

Strong showing from UK All Companies

The UK All Companies sector also boasts 17 funds in the 100% club.

A number of mid-cap funds have delivered strong performance, the likes of Paul Spencer’s £793m Franklin UK Mid Cap (137.2%) and Royal London UK Mid Cap Growth, managed by Derek Mitchell (131.2%), have benefited from investing in one of the fastest growing areas of the market.

Companies across the sector have had an impressive run since the crisis, delivering strong earnings growth despite the gloomy economic backdrop. Many multi-cap UK equity managers did well from these stocks, having boosted exposure to them at the expense of large-cap holdings.

One manager who was rewarded by investing in the space is Ed Legget, manager of the Standard Life UK Equity Unconstrained fund, which is the top performing fund in the sector over five years, returning 172.6%.

The manager typically invests in recovery stocks, commonly found in the FTSE 250, which currently make up 55% of the fund.

US and tech winners

Outside the UK, other big winners over the past five years include US and technology focused funds, with five funds in both sectors producing performance in excess of 100%.

GAM Star US All Cap Equity tops the IMA North America sector, returning 119.8%, while MFM Techinvest Technology is the best performer in its sub-sector, gaining 149.7% over five years.

In stark contrast, global emerging market focused funds heavily lagged portfolios which predominately invest in stocks listed in developed economies.

Asia lags

Just four Asia focused funds and three global emerging market funds have produced triple-digit returns over five years, all the vehicles are managed by the four biggest names in the space – Aberdeen, First State, Newton, and Schroders.

The £3.2bn Aberdeen Global Asian Smaller Companies fund, managed by Hugh Young, tops the leaderboard, having returned 168.9% since the crisis.

Just one China fund features

Chinese funds have also trailed behind, with just one fund – the £1bn GAM Star China Equity – in the 100% club, returning 146.2%, well ahead of the IMA China/Greater China sector average return of 50.2%.

Here are the sectors where the 100% club funds can be found:

 Source: Morningstar