Parag Parikh value fund has done well in last one year but when we look at the last five years returns it is not among the top schemes in the category. It has given returns similar to what the category has given. The assets under its management is also very less. The returns from this funds depends on two factors one is the returns generated by Indian stocks and second the returns generated by Global stocks & currency fluctuations.
If you want to build global exposure in your portfolio then it is better to go for global funds such as Franklin India Feeder Franklin US Opportunities Fund.