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There have been some good suggestions for you Bob. We often refer to these kinds of funds as Dynamic Allocation, which simply means the managers can pretty much go anywhere they find value. Frankly I like the concept a lot. Unfortunately not many have a very long track record. Some are very expensive. And some are just not very good. I would offer the following suggestions:
FPACX - FPA Crescent IVAEX - Ivy Asset Strategy PAUIX - PIMCO All Asset All Authority
Comments
http://www.whiteboxmutualfunds.com/docs/lit/tactical//Commentary_Q3_2013.pdf
FPACX - FPA Crescent
IVAEX - Ivy Asset Strategy
PAUIX - PIMCO All Asset All Authority
Might I suggest Litman Gregory Masters Alternative Strategies Fund:
MASFX
MASNX
The portfolio is split amongst DoubleLine, FPA, Loomis Sayles and Water Island Capital.
They have quite a bit of flexibility...