Asian fund houses to buy more foreign stocks

Asian fund managers planning to boost investments in non-Asian companies prefer stocks that draw revenue from the region or have a secondary listing on a local exchange, finds a new survey*. Almost half (47%) the firms polled plan to increase investments in companies domiciled outside their home market over the next one to five years. BNY Mellon found that each additional percentage point in the global allocations of Asia-based institutional portfolios potentially equates to $7.…