From: Mike Schoren [mschoren@stratos.net]
Sent: Sunday, January 20, 2002 11:42 PM
To: rule-comments@sec.gov
Subject: File No. S7-20-01

I like the idea of actively managed ETFs.  It would save me money
investing in funds that currently have loads, or that are not part of a
supermarket that allows no fee investing.  Even though I rarely sell
mutual funds in less than a year, it would also allow me change my mind
without penalty if I decided that I made a mistake.  Currently, many
funds charge a fee if you sell them in less than a certain period of
time.  Thank you.

Mike