Overseas investments top $1 trillion

Overseas investments by tax-exempt U.S. investors grew to $1.035 trillion in 2004 from the previous all-time high of slightly less than $1 trillion in 2003, according to InterSec Research. William Libby, director, attributed the growth to strong returns in the international equity markets and significant international equity and debt investments by plan sponsors. Of the $1.035 trillion, $921 billion was invested in equity, debt and multiasset products.