4. Mirae Asset India Opportunities Fund

The fund has performed strongly on instances of market volatility by holding finances and has shown 11.46 percent returns from inception that coincided with the start of the bear phase in 2008 in Indian equities.

"This fund follows a core and tactical strategy. The former is aimed at providing long term capital appreciation while the latter aims at generating the extra alpha in the portfolio. The fund's bias towards large-cap space protects itself during market volatility," said Renu Pothen, research head, Fundsupermart.

5. Franklin India Bluechip Fund

The recurring good performance of this fund has been impressive for the past two decades.  This fund focuses on companies with strong management, finances, quality and market leadership. "A combination of value-conscious stock selection, and sticking to blue chips stood in its stead since launch. The fund is known to be methodical in booking profits in market peaks," said Vidya Bala, head of research, Fundsindia.com.

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