Investment Institute Releases Fund Directory

The Investment Company Institute in Washington, a trade group for the mutual fund industry, has published the new edition of its mutual fund directory.

The 1997-98 Directory of Mutual Funds and Other Investment Companies lists names, addresses, phone numbers and some other details for more than 6,500 “open-end” mutual funds, more than 400 “closed-end” funds, 11 sponsors of unit investment trusts, and more than 750 variable annuity funds.

The 209-page directory also sorts the funds by investment objective and by specialty. (Performance information isn’t included.) The directory costs $8.50, including shipping and handling.

For a copy, mail a check or money order to: Investment Company Institute, 1401 H St. N.W., Suite 1200, Washington, D.C. 20005-2148.

Retailers find silver lining in Asia

A silver lining to this winter’s darkest cloud is that U.S. retailers can buy clothes more cheaply from Asian companies.

Among the winners, says Personal Finance newsletter, are trendy chains that sell to teen-agers: Pacific Sunwear (symbol: PSUN) Wet Seal (WTSLA), Gadzooks (GADZ) and Vans (VANS). Be warned that none of these is cheap.

More conventional retailers to consider: Alabama-based Profitt’s (PFT), which Merrill Lynch rates a buy, and Gap (GPS), which analyst Rick Snyder of Salomon Brothers tags “a solid long-term investment.” Or shop for bargains yourself.

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