From: laksmi Rajan [lprajan2002@yahoo.com]
Sent: Monday, May 10, 2004 2:10 PM
To: rule-comments@sec.gov
Subject: FileNo S7-11-04

To Whom this concerns:

Dear Sis / Madam:

I wish to voice my opinion with regard to the 2% redemption fee. I really 
believe that this rule will do more harm to me as an investor than provide any 
protection or provide any good. I think it would curb my freedom to manage my 
portfolio regularly thus costing me more in opportunity costs. It would be very 
detrimental to me if i needed to liquidate funds in the even of cash 
emergencies.And these are just a few of the disadvantages of redemption fees. 

Please do consider this opinion and do not pass this rule.

Sincerely,
Long term and short term investor




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