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It is not just a question of a few whingeing overseas fund managers.
The FirstEagle Overseas fund, of which he is a co-manager, has a hefty 23.1 percent of assets in cash.
But it is becoming harder to find decent values among European stocks, said Kimball Brooker Jr., a co-manager of the First Eagle Overseas fund.
You could split your £100 between two different investment funds, perhaps a UK fund and an overseas fund targeting, say, the US or emerging markets.
Since its launch early last year, the overseas fund has posted a 3.8% total return.
Mills' biggest position is in Nestlé, which makes up 2.7% of the overseas fund.
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After many years of stellar, U.S.-fund-beating performance, overseas stock funds recorded a dismal 2011.
It's a decent proposition long term, although Mills and his overseas stock fund have yet to make it pay for investors.
The invitation to the London event showed an oddity of overseas fund-raising.
The Obama campaign has focused on overseas fund-raising — and the fact that a sinking dollar makes donations seem relatively cheap.
Evidently, the foundation's overseas fund-raising started again after Hillary left the State Department, at the end of 2012, and took a more active role in the Clinton Foundation.
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