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Alternative Market Briefing

Legg Mason survey finds global investors tend to shun overseas market for income

Monday, April 08, 2013

Beverly Chandler, Opalesque London: A survey of global investors from Legg Mason finds that worldwide investors tend to shun overseas markets for income and US investors have the least international exposure while Asian investors have the most.

Less than 20% of global investors’ income-producing securities are invested outside their domestic markets, the survey found. The research also found that investors globally are seeking, on average, an annual investment return of 8.9%, but in reality are receiving 6.1%: a shortfall of 2.8%. Some 3,000 investors across 13 countries were polled for the survey and there were wide variations across regions. The firm writes: "In the US, for instance, just 11% of investors’ income assets are invested abroad – the lowest percentage in the survey – with French investors (13%) similarly inclined to eschew international markets".

Asia found more globally minded investors with 33% of Hong Kong investors’ income assets invested abroad, followed by Taiwan (32%), Japan (29%) and Singapore (27%). In Europe, Spanish (27%) and UK (21%) investors are the most exposed to international income.

Legg Mason’s survey found that income investors globally cite a number of reasons for their general avoidance of foreign markets. "The main barriers to international investing for income are 'global uncertainty’ (55%),......................

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