Subject: File No. 265-28
From: Catherine Odelbo

May 5, 2016

It's high time for mutual funds to clearly show on the monthly/quarterly statements to fund shareholders how much money they took out of the shareholders' accounts to cover fees. The amounts should be shown in dollar and cents, preferably itemized across the main categories of management fees, 12b-1 fees, admin fees, etc. My bank shows me all the fees I pay on monthly statements. My accountant and attorney send me itemized bills and I pay by check or credit card. My brokerage statement shows me how much I paid in commissions to buy/sell a stock. Surely funds can calculate my costs and show them to me on my statements. Why this is even debatable is beyond me.