THERE WAS A TIME not that long ago when trying to invest offshore was extremely difficult for South African investors. Rigid exchange controls trapped money in the country and there were few options available from the local investment industry. But South African investors wanting to build part of a portfolio offshore are spoilt for choice. And that probably poses the greatest danger. Investors need to study the myriad options available and consult professional advice if necessary. What's important is to invest offshore according to your risk profile and long-term investment plan.

At a general level equities have again become the favoured asset in the post-financial crisis world. But as the following pages show, investment views differ. Many asset managers favour the beaten down shares in developed markets and the big brand multinationals. As a country, Japan is back in favour.

In a world where yield is scarce there's still an argument for bonds. Not necessarily sovereign bonds but corporate bonds, such as Ashburton is investing in. It's even exploring the potential of the higher yield "junk bonds".

And Marriott Asset Management is selectively sniffing around global banks - but not banks that have been bailed out by governments. However, Allan Gray is cautious about equities, lowering exposure to both foreign and SA equities in its funds.

There are many other views from which investors can draw to make informed choices. That's what sensible offshore diversification is all about.