One Good Turnaround Deserves...

After getting itself in shape, Scudder takes on Kemper

Edmond D. Villani could hardly be more thrilled. The chief executive of Scudder, Stevens & Clark Inc., holding forth in his luxurious Park Avenue office, displays a chart showing Scudder's diversified U.S. equity mutual funds beating the competition at the 25 largest fund families for the 12 months ending on June 30. "It's a marked turnaround in performance," he gushes, referring to Scudder's mediocre long-term record. "We've got a lot of positive momentum."

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