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what should be my current Investment for a better future with a long term growth?

I have come across this page the very first time and I really Thanks 4 a Gr8 and a healthy site. I want to invest a sum of Rs.5  lacs for a long period . I plan to invest the same in Mutual Funds-equity- growth. Which would be the suggested funds (for A long period) and what should be the investment way i.e. SIP, STP or Lumpsum. I doubt the funds which have given a good return, will they continue with positive returns even for the future.  
Looking for your reply at the earliest.
Regards,
Mr. Jain

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