A year after acquiring Mercury Asset Management, Merrill Lynch & Co. has had considerable success in selling shares of two new international products to U.S. investors. Merrill announced this month that in September and October alone the company had raised nearly $680 million from two new mutual funds, the Mercury Pan-European Growth Fund and the Mercury International Fund.

Merrill officials are saying that the funds' early success in a jittery domestic market is due not only to Merrill's huge sales force and Mercury's brand, but also to its own research which has been indicating that Europe offers great investment opportunities.

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