With the fall in Sterling this year investing Overseas has been a profitable strateguy this year. However, with the rapid rise in the US$ and the general view that US Equities look expensive I wouldn't personally be chasing US equities or looking to add US exposure just now.
Personally I'm still more tempted by some of the value on offer in Emerging Markets given the falls in some of their currencies and the valuations on offer. I wrote some pieces on this last year which you can access here and indeed the JP Morgan Global Emerging Markets Income Trust (JEMI) has worked nicely for me this year.
Looking at the performance of Emerging markets this year you might think you have missed it. I did however read another interesting piece the other day from Research Associates talking about this called - The Emerging Markets Hat Trick: Time to Throw Your Hat In?
So there you go some food for thought on potential asset allocatio decisions. In the meantime as it's approaching Christmas and the market is getting quiet and I'm feeling generous I might see if I can do a few investment trust specials again next week which could provide a few more Christmas Crackers for you. So don't forget to check back next week in between all your parties etc. - cheers.