Where should I invest Rs 1 lakh for five years?

I am 30 years old and want to invest Rs 5,000 per month through SIP for the next 20 years. Can you suggest some good schemes? I am planning to invest in largecap and balanced funds. I also want to invest a lumpsum of Rs 1 lakh for five years.
-- Sampad Bag

Vishal Ramaswamy, a mutual fund advisor, responds:

For investing Rs 5,000 per month via SIP, you can choose one scheme from each category in the following list. I have recommended dividend option since you are choosing a long duration of 20 years and you should have some money for investing without having to redeem.

Largecap fund: Rs 2,000

Kotak Select Focus Fund - Dividend
ICICI Prudential Bluechip Fund - Dividend
SBI Bluechip Fund - Dividend

Midcap and smallcap funds: Rs 2,000
Reliance Small Cap Fund - Growth
Mirae Asset Emerging Bluechip or DSP BlackRock Small Cap Fund - Growth (if either is available for purchase)
HDFC Mid-Cap Opportunities Fund - Growth

Balanced fund: Rs 1,000
HDFC Balanced Fund - Dividend
ICICI Prudential Equity & Debt - Dividend
SBI Equity Hybrid Fund - Dividend

For investing a lumpsum of Rs 1 lakh, you can set up an STP in two schemes. These are my recommendations:

Invest Rs 50,000 in Aditya Birla Sun Life Liquid Fund with an STP of Rs 5,000 for the next 10 months into Aditya Birla Sun Life Frontline Equity Fund - Dividend.
Invest Rs 50,000 in L&T Liquid Fund with an STP of Rs 5,000 for the next 10 months into L&T Emerging Bluechip Fund - Growth.