Other Funds: Specialist

According to trade body, the Investment Association, collectively we now have £899 billion invested in funds - pooled investment schemes sometimes referred to as unit trusts or OEICs.

But investing can be a tricky business, given the plethora of products on offer. In addition, investing is also a long-term business and there will be ups and downs, so patience is key. While there is no shortage of funds to choose from, finding fund managers who can deliver consistently is another matter.

Rob Gleeson, head of FE Research, a fund analyst, explains: "Generally, the most consistent managers are the ones with a strong core strategy. While they will have ups and downs across the business cycle, over multiple cycles they offer relatively stable returns."

To give you an idea of where you might want to squirrel away some cash, we've picked out 50 fund choices, as recommended by some of the UK's top fund-pickers. Our panel includes: Darius McDermott, managing director of brokers Chelsea Financial Services; Mark Dampier, head of research at Hargreaves Lansdown; Gavin Haynes, managing director of Whitechurch Securities; and Adrian Lowcock, head of investing at Axa Wealth.

OTHER FUNDS

SPECIALIST

This sector houses a highly diverse set of portfolios including, among many others, funds that invest in commodities such as gold and others that focus on healthcare and financials. Most constituents tend to be on the higher end of the risk spectrum.

47. AXA FRAMLINGTON HEALTH - Five-year return: 152%

This portfolio aims to deliver capital growth to its investors by investing in healthcare, biotechnology and medical services globally. Backed by Haynes and managed by Mark Hargraves, who took over last year, the portfolio has an impressive track record.

48. SCHRODER SMALL CAP DISCOVERY - Up 32% since March 2012 launch

One of Haynes and Dampier's top picks, it is co-managed by Matthew Dobbs. It invests in smaller firms exposed to the fastest- growing world economies. "It offers something different to most Asian and emerging markets funds," says Dampier.

49&50: OTHER FUNDS - TARGETED ABSOLUTE RETURN

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