6. Axis Equity Fund

The fund takes more exposure to large and mid-cap stocks and is a combination of value and growth styles. During the crisis of 2011, it has performed better than what is expected of it. "The fund manager follows a bottom-up stock picking approach while constructing a portfolio. He bets on those companies that enjoy high growth potential and high quality businesses," said Bajaj Capital's Mishra.

7. Quantum Long Term Equity Fund

In the last five years, it has showed remarkable returns of 17.68 percent against large and mid-cap equity diversified funds of about 11.77 percent. The fund buys and holds shares of quality companies.

"Offbeat sector choices with energy and auto topping sector holding, unlike banking and financial services, seen as top holdings, in most other fund portfolios is a factor that differentiates this fund from rest," said Vidya Bala, head mutual fund research, FundsIndia.com.

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