Last year, for example, international funds that invest in foreign stocks produced an average return of 53.25 percent.

Through last Thursday this fund produced a return of 33.47 percent for 1987.

Many small funds do not produce the income necessary to support the activities required by the donors.

His funds typically produced double-digit percentage returns - until the middle of the 1990's.

Too often, he said, the funds produced disappointing returns.

Large-cap funds are less risky but typically produce lower returns.

But for others, funds with the paper can produce slightly higher yields.

Over time, the fund would produce the money to pay back the bonds by selling the assets of failed banks.

We will therefore continue to work with developing countries to ensure that the available knowledge, and our funds, produce better results in the future.

But almost no bad funds produce good reports.