Funds Find Fertile Ground in Pakistan

The once-languishing industry has been boosted by the strong local bourse and government policies aimed at encouraging individual investors

While the U.S. mutual-fund industry continues to be buffeted by a declining stock market and jittery investors, in Pakistan, things have never been better, according to the country's Mutual Fund Assn. The benchmark KSE-100 index gained an impressive 112% in 2002, making Pakistan's stock market one of the best performers worldwide and helped bring new mutual funds to market.

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