How should I select a fund? I want to make a large one time investment?
Depending on your need, you should decide on the suitability of fixed income or equity or a mix of both. Making a large one-time investment in a fixed income fund may not be a risky proposition but it's certainly not desirable in an equity fund.
If you are investing for the long-term, we suggest you choose one or a few good equity funds and spread your investment over the next 6 to 24 months. For this I suggest you invest in a liquid or a short-term fund of the family whose equity fund you have selected to invest in.
Give instructions to execute an STP, i.e. systematic transfer plan. This is just the transfer of a fixed amount every month or week to another fund.
A fund with a 5- or 4-star rating, which is based on fund historic risk-adjusted performance, is a good starting point for your fund selection.