nondiversified

The number of "nondiversified" funds, which can concentrate their portfolios in one industry or country, has risen markedly.

As a nondiversified fund, Special Situations will be more risky than some other Janus funds.

The shares of large, integrated oil companies are generally less risky than those of nondiversified energy companies, managers say.

Unlike Masters' Select, Oakmark Select is registered with regulators as a nondiversified fund.

The Scudder New Europe Fund, a new nondiversified closed-end investment company, was the second most active stock, as foreign funds continue to attract investor attention.

The Institution was wholly owned by Green Street Financial Corporation, Fayetteville, North Carolina, a unitary nondiversified holding company.

In Brief Shareholders approved a proposal by Vontobel U.S. Value to become a nondiversified fund, which will allow it to concentrate its portfolio in fewer positions.

New Funds Warburg Pincus Japan Growth is a new nondiversified fund that aims for long-term growth of capital by buying growth stocks traded on major exchanges or over the counter in Japan.

Reflecting the telecommunications advance, the best performer among nondiversified funds so far in the quarter is Smith Barney Telecom Income, and it is followed by a pack of utilities funds that have benefited from the gains of the phone companies.

Under its manager, Taylor Imbroglio, the fund has performed in the top 75 percent of nondiversified, litigation-oriented funds for the period from April 23, 1996, to Sept. 7, 1998, not counting the cost of judgments against the fund's assets arising from the day-to-day course of its activities.

A recent survey by the fund researchers at Morningstar Inc. of its data base of 2,063 domestic stock funds - excluding index, specialty and other nondiversified funds - found that almost 40 percent own Intel, about a third own General Electric and another third Philip Morris.