Whether it’s because we find reassurance in following the crowd, we have a fear of missing out or we’re running out of time to use our ISA allowance, there can be comfort in familiarity.

But this strategy can mean we miss out on some hidden gems: the funds quietly but surely, becoming the popular funds of tomorrow.

We’ve highlighted five ‘pocket rocket’ funds – each with £100m or fewer assets under management, and top quartile performance.

TB Wise Multi-Asset Growth

This multi-asset fund is in the top quartile of its peer group in terms of performance over one, three, five and 10 years.

Sitting in the IA Flexible sector, the trio of managers are afforded a significant degree of discretion over asset allocation and can invest up to 100% in equities if they wish.

They invest in about 30 to 60 underlying funds and investment trusts, with a preference for out-of-favour areas. Over the past 12 months the fund has returned 23.7%.

Legg Mason IF Martin Currie European Unconstrained

Also top quartile in its sector over one, three, five and 10 years, this fund offers a focused, high conviction portfolio of quality growth European equities.

It has no constraints on regional or country allocations and its manager believes it’s important to avoid short-term noise and focus on a five to 10-year time horizon.

He has considerable experience of investing in this way and a strong track record. Over the past 12 months it has returned 21.8%.

Rathbone Global Sustainability

The manager of this global equity fund will actively avoid businesses involved in unethical or unsustainable practices.

The exclusion criteria are alcohol, animal testing, armaments, extraction of fossil fuels, gambling, nuclear power, pornography, tobacco and poor employment, environment and/or human rights practices.

Each holding will also have at least one positive environmental, social or governance attribute. It is top quartile since launch in 2018 and over one year. Over the past 12 months it has returned 25.6%.

Man GLG High Yield Opportunities

This unconstrained and concentrated global high yield bond fund was launched in 2019. The manager is very experienced and has an excellent track record in navigating the extra risk in the sector whilst achieving above average returns.

His experience and the fund’s flexibility to also short some positions allows him to find opportunities others may miss or avoid. It is top quartile in its peer group since launch and over one year. Over the past 12 months it has returned 18.9%.

TM CRUX UK Special Situations

Launched in September 2018, this fund’s manager likes to find a bargain, and over his career, has proven himself very able to do so.

He invests in UK companies of all sizes but will typically have more of a focus on medium and smaller companies than many of his peers.

In addition, there will be some FTSE 100 names and a few carefully chosen AIM-listed companies in a concentrated portfolio of about 40 holdings. Since launch and over one year it is top quartile in its sector. Over the past 12 months it has returned 34.3%.

Past performance is not a reliable guide to future returns. You may not get back the amount originally invested, and tax rules can change over time. Darius’s views are his own and do not constitute financial advice.

Darius McDermott is managing director at Chelsea Financial Services