Follow the crowd, don't be the last.

I'm no expert, just trying to understand & structure the Qs/Goals ya, coz the best answer to the "not so good" questions are near useless

1. Since one is looking to diversify out of properties (in particular MY properties?), FD, etc., maybe the biggest Q should be revolving around:
a. "Asset Allocation", asset categories (eg. Fixed Income, Equities, Alternates), sub-asset categories (eg. Developed Market Equities, Emerging Market Equities, REITs, etc.)

b. and its related stuff like "what allocation % fits my needs/risk appetite", "when to re-balance", "how to re-balance", "how to build.."
2. With (1.) in mind, one can then visualize one's total assets/investments as a holistic team, eg. a soccer team with forwards/strikers to score, midfielders to move the ball forward & help defenders as well, defenders to minimize goals against us + final defence, the goal keeper.

Thus, then perhaps one should then look for appropriate investment vehicles like stocks, mutual funds, etc. that fits the role to fill?

3. The above is just me trying to clarify & structure ya. Again, i may be wrong & U already know about all these. If so, perhaps this may help: https://forum.lowyat.net/topic/4193169

Q1 Depend on market condition and fund manager. A rising tide will lift all boats,  only when the tide goes down,  my outlook will see who's swimming naked. If they change fund manager, fund performance can drop.

Q2 None. Never ever let a fund house brand con/tempt  you into buying. Always look at individual fund. 

Q3 Consistent winners, not one time juara kampung. For me personally, able to beat the index. If it can't beat the index,  might as well I invest in the index itself. High returns,  low volatility,  Sharpe ratio > 1

Q4 See answer Q3. Also see region of investment.