The proportion of total U.S. international investment in Western European companies rose to 73% in 2001, from 67% in 2000, according to a Greenwich Associates study. Also, the value of these institutions Western European portfolios is much greater than their investments in all other foreign countries combined, the study showed.
Separately, the study revealed overall commission spending internationally by U.S. institutions fell almost 25%, to $1.24 billion at the end of 2001, from $1.58 billion in 2000. Total commission spending in Europe declined in absolute dollar terms to $929 million in 2001 from $1.06 billion in 2000, according to the report. The percentage drop was much greater in other non-U.S. markets notably in Asia ex-Japan, where it fell to 9% of the total U.S. institutional commission spending in 2001, from 13% in 2000. In absolute terms it fell to $115.8 million from $208.5 million.