Global Funds Focus on Strong European Stocks International Stock Managers Say Europe's Markets Should Continue to Shine in the '90S

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INTERNATIONAL stock funds are poised for major market gains once the world economy revs up, according to several mutual fund managers.

In fact, some managers say that global stock funds - given their focus on promising markets such as Spain, Switzerland, the Netherlands, and Hong Kong - could outperform the United States stock market during the next year.

Europe is already being watched closely by Wall Street. The start-up of the Walt Disney Company's entertainment complex near Paris, the World's Fair in Seville, and this summer's Olympic games in Barcelona are drawing attention. Such enterprises boost consumer spending, thus providing a financial lift for local economies. Beyond such immediate gains, broad economic growth is expected to accelerate in Europe - spurred by growth in the US. The British economy is already slowly expanding and other nations are expected to join the upswing.

European stock markets that have performed especially well this year, according to Morgan Stanley & Co., include France, Switzerland, Germany, and the United Kingdom.

Norman Kurland, the international portfolio manager of the Pioneer Europe Fund, says European markets might do better over the next few years than the US stock market. The Pioneer Europe Fund is ranked third in terms of performance out of 26 European funds watched by Lipper Analytical Services Inc. …