The strategy to park the lump sum in a liquid fund in the interim for the next three months is a good move, not only will it earn some returns, it will be tax efficient compared to keeping the same in a bank deposit. As for the balance sum, depending on the time frame for which you wish to invest and your risk tolerance, you can arrive at a suitable asset allocation (mix of equity and fixed assets). Invest in a portfolio from the OLM Elite list of funds, or you could start with ICICI Pru Balanced Advantage fund, as you come across as a first time investor. Make regular investments through systematic investment plans (SIP) and track the performance of the funds that you have invested in at least once a year and use the opportunity to balance your portfolio.