If you are thinking about adding to equity positions before the end of the year by means of a mutual fund, please be sure to read this piece. Despite the losses experienced by almost all funds this year, they may still have underlying taxable gains that have been realized. Such gains will be paid out in a distribution to the holders of record on that distribution date. What that means is that you may buy in to a fund for which you have no gain, and yet be hit with a tax bill. Funds are in the process of announcing their results and do publish their distribution date. Be sure to check on the information as it relates to the fund you are considering.
If you feel like the timing is right to add to equities, and do not have the time or inclination to do the research relating to mutual funds, consider an ETF for quick exposure. Two great site for information on ETFs are http://www.etfconnect.com/.