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Want to become an ISA millionaire? I’d recommend checking out these investments

While there’s no one perfect strategy to achieve ISA millionaire status, it goes without saying the higher the growth of your capital within your ISA, the sooner you could hit that magic million.

With that in mind, I want to highlight three growth investments (two funds and an investment trust) that have phenomenal performance track records. If you’re looking to build your ISA up to a million, these investments could definitely be worth a look.

Fundsmith Equity fund

Terry Smith’s Fundsmith Equity fund is one of the most popular funds in the UK right now (and it has been for years). And that’s no surprise, as the fund has returned nearly 156% over the last five years, which is a sensational return for investors. That equates to an annualised return of nearly 21%.

This fund invests on a global basis, and portfolio manager Smith has a very strict criteria when it comes to picking stocks, looking for resilient, high-quality businesses whose advantages are difficult to replicate. Top holdings currently include the likes of PayPal, Microsoft, and Facebook.

Fees are a little higher on this fund than some other popular peers (the ongoing charge is 0.95% per year through Hargreaves Lansdown) but I wouldn’t let that put you off as this is a top-quality fund.

Lindsell Train Global Equity fund

Another extremely popular fund among UK investors is the Lindsell Train Global Equity fund. As its name suggests, this is also a global fund that invests all across the world. Like Fundsmith, it’s performed very well over the last five years, returning around 151%.

Its portfolio managers Michael Lindsell and Nick Train also have a strong focus on high-quality companies. They like those with powerful brands (as this provides a competitive advantage) and, as such, the portfolio has a high weighting to well-known names such as Unilever, Diageo, Heineken, and Pepsi.

One advantage of this fund is that it’s listed in Hargreaves Lansdown’s ‘Wealth 50’ list, which means it’s available through Hargreaves at a low ongoing charge of just 0.51% per year. That’s a huge plus as the lower your fees the faster your money will grow. The fund’s performance track record and its low fee make it a top buy, in my view.

Scottish Mortgage Investment Trust

Finally, another high-growth investment that could be worth a closer look is the Scottish Mortgage Investment Trust (LSE: SMT). Now don’t be put off by the name – these days the trust is global rather than Scottish, and it also has nothing whatsoever to do with mortgages!

Launched in 1909, Scottish Mortgage is investment manager Baillie Gifford’s flagship investment trust. A low-cost equity fund run by portfolio managers James Anderson and Tom Slater, its aim is to outperform world stock market indices over a five-year rolling period. Performance here has certainly been impressive. Over the five years to 31 January, the trust’s NAV rose around 139%, versus 78% for its benchmark the FTSE All-World Index. For the 10 years to 31 January, its outperformance was even more pronounced, with its NAV rising 630% versus a 239% rise for the benchmark.

This trust has a strong tech focus, with top holdings including names such as Amazon, Tencent, and Netflix. With a low ongoing charge of just 0.37%, I think this trust is certainly worth a closer look if you’re looking for high returns within your ISA.

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Edward Sheldon owns shares in Unilever and Diageo. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool's board of directors. The Motley Fool UK owns shares of and has recommended Amazon, Facebook, Netflix, PayPal Holdings, and Unilever. The Motley Fool UK owns shares of Microsoft. The Motley Fool UK has recommended Diageo. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.