Subject: File No. 265-28
From: Preston Thayer

May 5, 2016

I heartily endorse the recommendations outlined in the
"Recommendation of the Advisory Committee Regarding Mutual Fund Cost Disclosure (April 14, 2016)."
In addition, I believe that information on trading costs (turnover rates) could be usefully highlighted, and presented in such a way as to inform mutual investors of the effect on returns of these rates.

Thank you.