Real Nifty returns over last 5 years and 10 years

One of my friend is a non believer of investments in equities. I asked him the reason, his reason:

In a portfolio of 10 stocks:

--2 move;

-- 4 go dead;

-- another 4 wont move.

So, net net no earning for a considerable period of time if any at all from the total investment.

I advised him to invest in Goldman Sachs Nifty Exchange Traded Scheme, this scheme replicates the NIFTY and has given annualised return of 9% since 2008(yes including crazy valuations of Jan 2008) and 11% since Jan 2004.

Assumptions:

1. Monthly investment of fix amount (same every month) in the NIFTY

2. Investments are made on 5th of every month or the nearest day, 5th being a holiday.

If anyone interested in the calculations, I will be more than happy to provide it.. do inbox me.