What made you come to that conclusion?
Invested in Top 200 three years ago. Lumpsum. Got out two months ago at breakeven. No gain.
Parked some money two years ago in HDFC 1 year Fixed Deposit with quarterly interest reinvested earned me return of nearly 12% in a year. Renewed for another year and with no withdrawal, net return is over 10%.
HDFC Top 200 was good for me three years back. Not any more. In my opinion, fund is too big to manage.