July 27, 2005
Both forms do a good job of informing people of what the true costs are, however it appears as though the second form is prepared After someone has purchased shares, and the first form with the fill in the blanks would be prepared Before the sale had occurred. Both of these forms go a long way to allow mutual fund purchasers to evaluate the fees associated with each fund. Additionally, it should be required that these same items be printed in the exact same format in each prospectus, using the exact same language to define the fees and on the same page. That way an investor could get several prospectuses, lay them out side by side or even prepare a spreadsheet to compare their various investment options.
Thanks Bob Kahmer