What's Inside

Page 3A

Vanguard, Amvescap Show Two Ways to Go

Caution and patience mark Vanguard's niche-oriented approach, while Amvescap is deploying a vast network to pursue foreign investors.

Page 4A

For selling U.S. Funds to Latins, Miami is the Place

Fierce competition has developed in the city as a host of marketers vie for business from large numbers of well-to-do Latin Americans.

Page 6A

Pioneer, a Foot in Poland's Door, Faces Tough Competition

The country's mutual fund business is tiny, but Pioneer hopes to get a big piece of the action as the pension system is privatized.

Page 7A

U.S. Investors Avoid Foreign Funds As Returns Lag

While investments in international funds are increasing, people have become wary because performance of foreign markets has trailed the U.S.

Page 8A

Alliance Capital Shuns Joint Ventures in Japan

The asset management company prefers a large number of distribution partners so it can cast a wider net for retail investors.

Page 9A

Key to Strong Results: Rebounds in Emerging Markets

Managers of top-ranked funds point to strong results in Russia and a revival in small- and mid-cap companies.

Page 10A

Managers Patiently Await Boon From the Euro

The adoption of a common European currency should give a boost to U.S. fund companies, just not as quickly as some expected.

Page 11A

Retirees Remain Cool to Foreign Funds

Older people, mindful of recent turmoil abroad, are wary of international investing.