10/07/96 TABLE: The Worst Returns

The Worst Returns

Funds investing abroad, especially in Asia, had a tough time. Some big winners from earlier in the year dropped ove the summer TOTAL RETURN* PIONEER INDIA B -22.18% FIDELITY SELECT AIR TRANSPORTATION -18.52 STEADMAN TECHNOLOGY GROWTH -16.50 EV MARATHON GREATER INDIA -16.25 AMERICAN HERITAGE -14.49 PERKINS OPPORTUNITY -14.15 PATHFINDER -13.06 PREMIER STRATEGIC GROWTH A -10.57 VAN WAGONER MICRO-CAP -10.01 FIDELITY JAPAN SMALL COMPANIES -9.81 RESERVE INFORMED INVESTORS GRTH. A -9.76 ROCKWOOD GROWTH -9.49 WARBURG PINCUS JAPAN OTC COMM. -8.67 FRANKLIN TEMPLETON JAPAN -8.03 JAPAN -7.88 DEAN WITTER JAPAN -7.74 MORGAN STANLEY EMERGING MARKETS A -7.71 VAN WAGONER EMERGING GROWTH -7.68 DREYFUS AGGRESSIVE GROWTH -7.55 FIDELITY JAPAN -7.42 STRONG ASIA PACIFIC -7.16 GLENMEDE EMERGING MARKETS -7.07 CAPSTONE NIKKO JAPAN -6.79 WARBURG PINCUS EMG. MARKETS COMM. -6.73 GOLDMAN SACHS ASIA GROWTH A -6.69 EVERGREEN GLOBAL REAL ESTATE EQUITY Y -6.66% FIDELITY SELECT TRANSPORTATION -6.55 MAS EMERGING MARKETS -6.54 MATTHEWS KOREA -6.35 59 WALL STREET PACIFIC BASIN EQUITY -6.20 STRONG INTERNATIONAL STOCK -6.19 STI CLASSIC SUNBELT EQUITY TR. -6.18 ARTISAN SMALL CAP -6.07 WRIGHT EQUIFUND-JAPAN -6.02 LEXINGTON CROSBY SMALL CAP ASIA GRTH. -6.01 BERNSTEIN EMERGING MARKETS VALUE -5.99 UNITED SERVICES GOLD SHARES -5.98 GOVETT SMALLER COMPANIES A -5.98 GT GLOBAL TELECOMMUNICATIONS A -5.95 PIONEER EMERGING MARKETS A -5.94 GAM JAPAN CAPITAL A -5.90 MORGAN GRENFELL INTL. SMALL CAP EQTY. -5.83 NICHOLAS-APPLEGATE MINI-CAP GR. INSTL. -5.76 FIRST MUTUAL -5.72 VANGUARD INTL. EQUITY INDEX PACIFIC -5.64 FIDELITY PACIFIC BASIN -5.60 PACIFIC EUROPEAN GROWTH -5.51 STATE STREET RESEARCH INTL. EQUITY B -5.48 BHIRUD MID CAP GROWTH -5.48 DEAN WITTER INTERNATIONAL SMALL CAP -5.44 *APPRECIATION PLUS REINVESTMENT OF DIVIDENDS AND CAPITAL GAINS BEFORE TAXES, JULY 1-SEPT 23, 1996 DATA: MORNINGSTAR INC.