A distinctive feature of the late Victorian capital market was the volume of investment in overseas countries, and this was clearly reflected in the dominant position occupied by overseas securities on the London Stock Exchange. By 1913 these amounted to approximately £5.5 billion, some 60% of the nominal value of all quoted securities. The attraction for home investors was the prospect of relatively high rates of return, along with the opportunity to diversify the range of assets held in private and institutional portfolios. In terms of geographical distribution new British investment in Asia ran at an annual average of £16.5 million in the 1890s, increasing to £19.25 million in the 1900s, and reaching a peak of £33 million in 1910.