A Very Good Year Especially On The Fringes

The hottest mutual fund action in 1993 was not in the U.S. but overseas. The average equity mutual fund was up 16.5%, besting the 9.25% total return in the Standard & Poor's 500-stock index. But a good share of that boost came from the stellar performance of international equity funds. These include Pacific funds, European funds, foreign funds (which only invest abroad), and world funds (which invest both abroad and in the U.S.).

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