Specialist emerging market investment group shows continued fund inflows, allaying concerns.

By any measure, 1997 is clearly trailing last year's pace for fund inflows.

For instance, in the first half of 1983, fund inflows for several months ran above 2 percent of assets.

And in August 1984, fund inflows were 4.22 percent of assets.

Another sign of difficult times ahead may be the reports that mutual fund inflows have slowed this month.

The decline in fund inflows is far from universal.

But money-market fund inflows rose 4 percent, to $636 million.

The first quarter, traditionally a time when fund inflows are strong, will be a disappointment, he said.

The most recent data on fund inflows, for October, showed that foreigners bought a net $48.1 billion of stocks and bonds.

In recent weeks, fund inflows have dramatically slowed, and it looks like December, while positive, will be one of the slowest months this year.