Rich country investors return home for stable cash income

LONDON: The world's biggest investors may be rethinking 20 years of boosting overseas holdings and are instead seeking more stable cash income at home, as aging societies and tighter regulation dull risk appetite. This heralds a structural shift toward investments that produce long-term income in advanced economies, home to two thirds of the money held by insurers and pension funds — some $55 trillion. And the lagging of markets in the relatively high-growth emerging economies — now into its third year — may well last far longer as factors pulling western investors back home are likely to persist over the next decade.