Want a well-diversified, large-cap-oriented portfolio with low volatility and with fairly decent returns? Then Franklin India Prima Plus is your cup of tea. Launched around the peak of the IPO boom in September 1994, it started off as a stock collector and had nearly 200 stocks in its kitty by March 1996.

The relentless cleaning of the portfolio took years and the January 2001 portfolio revealed 40 scrips. In November, the fund had around 42 stocks in its portfolio.

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Two years that stand out in the fund's performance are 1998 and 1999. Thanks to big bets in technology, the fund delivered 39 per cent and 209 per cent, respectively. But in 2000, the fund fell harder at 31.89 per cent (category average: 24.27 per cent).

Those days of racy returns are over. While the fund delivers positive returns, it just beats the category average. In 2003, its return of 107 per cent was still lower than the category average of 111 per cent.

In 2002, it matched the category average returns and marginally beat the returns in 2004 and 2005. But in 2006, it outperformed the category by a handsome 15 per cent.