Investors in the SoGen Funds will not be the only ones hurt if performance troubles continue through the end of the year.

PMC International, the financially- strapped mutual fund company which was spurned in its proposed merger with Dundee Bancorp of Canada two months ago, has signed a definitive agreement to be acquired by the Ziegler Companies, a financial services holding company based in West Bend, Wisc. Ziegler will pay $3.1 million in cash for PMC.

Five months after buying Jack White & Co., Waterhouse Securities will combine Jack White's Advisor Services division with the Waterhouse Investment Adviser Services unit. The two will officially join on January 1, 1999 and be known as Waterhouse Institutional Services.

Scudder Kemper Investments has received permission from the Korea Development Bank to co-manage a corporate restructuring fund that will finance small- and medium-sized Korean businesses. Scudder Kemper Investments will invest approximately $250 million of the closed-end Corporate Restructuring Fund in equity and fixed-income securities of small and medium-sized Korean companies.

Fifth Third Bank has reached an agreement to provide custody services to Berkshire Capital Holdings of San Jose, Calif. Berkshire Capital manages one fund, the Berkshire Capital Growth & Value Fund, a start-up fund with less than $1 million in assets under management.

Roxbury Capital Management LLC of Santa Monica, Calif. has been named co-manager of the Managers Capital Appreciation Fund. It joins Essex Investment Management of Boston. Kevin P. Riley will manage the Roxbury portion of the fund.

The stable asset advisory and consulting unit of Laughlin Group of Companies of Beaverton, Ore. is merging with Dwight Asset Management of Burlington, Vt.

The merger of the Travelers Group and Citicorp into Citigroup is expected to create one of the most powerful financial services organization in the world. Within that, Citigroup is creating what it hopes will become one of the largest money managers in the world.

Negotiations for the sale of Pilgrim Baxter & Associates to Nationwide Financial Services have ended, according to United Asset Management Corp., Pilgrim Baxter's owner, and Nationwide. United Asset Management (UAM) and Nationwide could not agree on the terms of the sale. According to published reports, Nationwide would have paid roughly $600 million for Pilgrim Baxter, a mutual fund company based in Wayne, Pa. Officials either declined comment or declined to provide details on why the sale talks failed.

Putnam Investments has agreed to make an investment in Nissay Asset Management Corp. (NAMCO), a Japanese money manager, and help it develop a new product line.

Shareholder Communications Corp. is acquiring Kissel-Blake Inc., a proxy solicitation specialist and consultant. Kissel-Blake, which has been involved in merger, acquisitions, restructuring and proxy contests with KKR/RJR Nabisco Inc., Philip Morris/Kraft, Philip Morris/General Foods and Bell Atlantic/NYNEX, will operate as a subsidiary of Shareholder Communications.

United Asset Management Corp. (UAM) is in talks to sell its Pilgrim Baxter & Associates, Ltd. subsidiary to Nationwide Financial Services, Inc. UAM, of Boston, would only confirm that talks were being held. A Pilgrim Baxter spokesman declined to comment.

The Chase Manhattan Corp. has acquired Morgan Stanley, Dean Witter & Co.'s global custody business with the purchase of Morgan Stanley Trust Co. and Morgan Stanley Bank Luxembourg, S.A. Terms of the deal were not disclosed but the businesses will be integrated into Chase's Global Investor Services unit. The combined entities will hold more than $5 trillion in assets under trust and custody and provide services to 3,000 institutional investors.

On the brink of closing the five no-load, fixed-income funds it oversees, the board of directors of the Fundamental Funds named Cornerstone Equity Advisors, a two-year old investment advisory firm, to assume management of the funds.

Friedman Billings Ramsey Group, Inc., has completed its acquisition of Grandview Advisers, Inc., which managed the Grandview Realty Growth Fund.

The Cardinal Funds have been merged into the Fountain Square Funds, which are advised by Fifth Third Bank. The Cardinal Funds were run by The Ohio Co., which Fifth Third recently acquired.