I would like to invest Rs 1 lakh a month for the next 5 years. Please suggest 7 equity funds that will give me a decent return of about 11 per cent.
Given your timeframe, the modest return expectation that you have can be achieved easily without assuming any significant risk. You would do well without investing in any equity fund at all. You should consider investing in the growth option of an MIP, which could earn you returns that would be higher than 11 per cent.