New Delhi, Aug. 24 -- If you are looking at global markets and avoiding India based on its recent performance, you may be overlooking its long-term track record.

While diversifying across markets can help spread portfolio risk, chasing today's best-performing market may not always be the right approach for long-term investors.

Data from a WhiteOak Capital Mutual Fund study shows that the Nifty 500 delivered a 7.7% annualised return over 20 years, making India the second-best performer among the emerging markets, behind only Taiwan.

The study compares 11 emerging markets and the US across one-, three-, five-, 10-, 15- and 20-year periods. Returns are measured in US dollar terms, providing a common basis for comparing markets after accou...