In Brief: Oct. 25, 1999

MUTUAL-FUND TAX DODGE On average, domestic mutual funds lose 2.5% of their total returns to capital-gains taxes, and few companies advertise their aftertax performance. Vanguard has become the first big firm to do so; others may follow. Until then, tax-minded investors--those investing outside an IRA or 401(k)--can find about 30 funds that are actively managed to minimize the tax hit. Here are a few top performers:

TOP TAX-MANAGED FUNDS

Total Return Lost to Fund One Year* Taxes

Standish Small Cap 57% 0% Tax-Sensitive

Eaton Vance 40% 0% Tax-Mgd Intl GrA

Bridgeway Ultra- 37% 1% Large 35 Index

Vanguard...

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