Putting all of your money into a single fund and changing that fund regularly sounds like an insane approach that is destined to fail.

But the strategy has returned 5,662pc from September 1 1995 to August 31 2017, compared to 360pc for the average UK All Companies fund or 390pc for the FTSE All Share index. That would have turned a £10,000 investment into £576,000 over the 22-year period.

The premise of this strategy – which is titled “bonkers” – is simple: you buy the single best performing fund over the past six months, out of the whole universe of funds, and repeat every six months. You can see the performance relative to the FTSE 100 and average fund in the UK All Companies sector below.