As assessment of the Indian Ocean tsunami continues, fund analysts beginning to measure financial risk in the region said equity and fixed-income markets remained stable. Despite the colossal human tragedy and destruction of 20,000 miles of coastline, they did not expect economies in the region or mutual funds with investments there to be tremendously impacted.

In fact, of 43 funds invested in Asian Pacific countries outside Japan, only 12 have exposure to countries in the region, according to data provider Lipper of New York. Of these, the lion's share is in financial service firms headquartered inland, where investments are expected to remain despite the billions of dollars of reconstruction in the years ahead and its impact on building, construction and real estate.

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