Where to invest EPF Withdrawal amount for long-term wealth building?

Hi Sreekanth How are you doing? Hope you had a good Diwali, and all is good on the family front. It's been a while since i wrote to you, and one pending piece of advise i wanted from you triggered me to write now. I have just received a bit of my EPF from my last job. Now i want to put it into serious wealth-building, without making the not-so-wise decision to put in a FD or invest in in an ill-mannered way into equities. So if I have 5 lacs to invest, what would you advise? (Just to share, I have a modest equity as well as MF exposure. Mindset is to create long-term wealth, and try not be swayed by the market momentum stocks) The deal is to keep a bit in the bank, and deploy the rest in equities and MF with a timeframe of about 4-5 years....PPF of course will be longer, but that's ok. I have also been a bit unhappy with my MFs, as they have returned a bit over 8% over the last 18 months. This includes 5 good funds like SBI Blue Chip, Franklin India Opportunities Fund, UTI mid cap fund etc., So i was wondering whether it was a bad patch and I i still should continue to invest in them. But I was yearning for those CAGR 18-20% returns! :) Another issue is that I feel that keeping money in an SB account is foolish too. I thought a liquid fund will be a far better alternative, with near-similar liquidity. Any recommendations on this front, though moneycontrol, valueresearchonline etc. have enough info to drown anyone. Will be good to have your thoughts on this. Best wishes again, Ajay