Even though international equity funds staged an impressive performance comeback in 1999 after dismal returns in the previous 10 years, international funds' average six percent decline so far this year has caused some investor disenchantment. As a result, a number of fund companies, including Scudder Kemper Investments of Boston, are changing or even closing their international funds.

Last year seemed to mark a reversal of fortune for international funds. They rose 27 percent on average, beating U.S. equity funds' 22 percent rise, according to Lipper Analytical Services of Summit, N.J.

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