May 16, 1998

Mutual fund investors, blinded by stunning investment returns the last several years, are not getting enough information about how much they are paying for a fund company's services, Arthur Levitt Jr., the chairman of the Securities and Exchange Commission, said today. In an address to the annual meeting of the Investment Company Institute, a mutual fund trade group, Mr. Levitt called on fund companies to temper their promotion of investment performance by explaining ''clearly and unequivocally'' how fees and expenses affect small investors and what risks they face if the financial markets decline.

Se Ri Pak, 20-year-old rookie golfer from South Korea, continues to show poise and skill beyond her years as she maintains her lead in McDonald's LPGA Championship, DuPont Country Club, Wilmington, Del; photo of Lisa Walters of Canada (M)

The World Trade Organization has come under attack recently from critics who say it ignores environmental and social issues in settling trade disputes. At the center of the issue is a ruling against the United States last month, favoring a challenge from developing countries to the United States law that protects sea turtles from shrimpers' nets. Interest groups are accusing the three-year-old trade organization of being responsible for gutting environmental laws in the name of unfettered trade.

Indonesian Pres Suharto, responding to rioting, returns hurriedly from Cairo and rolls back new fuel-price rises imposed at International Monetary Fund insistence; confers with advisers and top generals as calls for his ouster grow on streets and from public figures; tanks guard suddenly quiet streets of Jakarta and Presidential Palace; young looters still roam streets; more rioting is reported in Jogjakarta, Solo and Ugung Pandang; Lt Gen Prabowo, Suharto's son-in-law, says there are no splits in military; ethnic Chinese citizens, whose homes and stores have come under attack, take refuge in hotels or gather at airports seeking to flee nation; foreigners also throng to airports after American Embassy advises United States citizens to leave; embassy plans charter flights to evacuate Americans; other nations also prepare to evacuate citizens; Pres Clinton says Indonesians must decide own political future; calls for reform; map; photo (M)

President Clinton stepped up the pressure on Japan today to deal with its ailing economy, urging Prime Minister Ryutaro Hashimoto to quickly resolve the Japanese banking system's festering problems. As the leaders of the seven leading industrial democracies and Russia gathered here for their annual meeting, the United States also released a report saying Japan had made modest progress over the last year in meeting promises to remove or modify regulations that hamper American companies from competing in Japan.