Fund selection for 08/09

Sillychuckie

Hi All.
Just seeking a bit of 'direction' (I avoid the term 'advice' for obvious reasons).

I'd like to know where my portfolio has missing spaces so I can look into some 08/09 drip feeding investments into, perhaps, 4 funds or so.
My risk level is one where I am not particularly fussed with a drop of 10-15% on the portfolio. It is currently down 10% already due to the latest market jitters (and the fact I initially used lump sums rather than drip feeding, to my expense).
The investment is a long term one (10 yrs +) and I'm only playing within the ISA allowances (previously MINI allowances) of around 4k.

My current portfolio breakup (I use monringstar) is as follows:

Artemis High Income (UK Other Bond) - 15.38%
Jupiter Income (UK Equity Income) - 12.76%
HL MM Special Situations Acc (Global Growth) - 8.49%
Gartmore Cautious Managed (Cautious Managed) - 8.27%
Invesco Perp Income Fund Acc (UK Eq Income) - 7.98%
New Star European Growth Retail Acc (Europe Ex UK) - 7.3%
Schroder European Alpha Plus Inc (Europe Ex UK) - 6.86%
SVM Global Opps Fund A Acc (Global Growth) - 6.82%
Invesco Perp Euro High Yield Acc (Global Bonds) - 6.81%
Invesco Perpetual Monthly Income Plus Acc (UK Other Bond) - 6.68%
R&M UK Equity Smaller Companies A Inc (UK Smaller Cos) - 5.66%
Investec Asia ex Japan A Acc Net (Asia Pacific ex Japan) - 4.4%
SG Japan CoreAlpha Fund A Acc (Japan) - 2.6%

I'd assume the US, Property and Corp bonds could do with a visit, but I'm not sure I feel comfortable investing in the first two.
Another would be a commodities one whilst just bolstering my existing holdings and a small amount of BRIC.
Am I neglecting anything obvious?
I'm 82.8% europe, only 3.45 US and 13.74 in greater asia.

I'm already quite close to my comfort zone with the recent drops, so I don't really want to increase my risk much. All thoughts are welcome, I just want to be sure I'm not going too wrong anywhere.
I am not looking for massive growths, but I would like to beat the average savings account rates. I also hate to lose out on my ISA allowance.

Thanks for your time.
SC