Guidance on lumpsum investment on mutual fund

Hi All,

I have around 5 lacks of lumpsum money, I already have FD & PPF.So I don’t want to put it into that.I don’t have any mutual fund. Since the markets are high is it better to invest in mutual fund now?If yes which are the mutual funds I can invest. I would like to invest for 3 years so that there won’t be any tax .

I prefer to distribute my investment in below find of funds

• 1 large cap fund
• 1 multicap fund
• 1 midcap fund

I am I thinking in right direction?Your quidance is much appreciated

Thanks,

Anil