Investment products diversification - where to park?

About three months ago I received a letter from CIMB advising me that my investment product was going to reach maturity soon and as an expression of their "caring" attitude, they invited me to re-invest in another of their products.

Well I have long made up my mind not to enter into any more financial transaction like this. I supposed it would be fine if I had millions to play around with and yet I am still not comfortable with the thought that you cannot touch your money at any time you like as it's kind of locked in and left to breed or being bred by other people. The promise of high return is attractive plus the lower risk afforded when compared to the stock market. But somehow the element of some control is lost here. Put it this way, this kind of products is not for all types of investing characters.

I am looking to park my excess fund in an instrument I am happy with. Without the help of a financial advisor, I have to read a lot to personalize my financial planning . In this respect, suitable asset classes and careful choice of portfolios cannot be overemphasised.

Looking at dividend yield is important when unit trusts are selected. For example if you were going to park your money in a fund whose unit price is RM1.00, for  say 100,000 units then you have to put in RM100,000.00 and if the annual dividend rate is 7% then you would get RM7000.00 at the end of the financial year. Consider then buying 100,000 units in a fund whose unit price is RM0.34, you then only need to fork out  only RM34,000.00 and if this fund is giving a regular dividend of say 4% then you will get RM4000.00, a yield of 11.76% compared to the former of 7.0%. 

So in line with my resolution to be more risk averse this year 2011, I have selected a fund with a high dividend yield and one that is not overly aggressive. This is done by studying its prospectus carefully. 

I wonder though how long I  can keep my resolution as the stock market has been bullish lately with FBM KLCI climbing up like nobody's business and with all these Economic Transformation Programmes going on, can I afford to keep on the sideline and just look?