Subject: File No. 265-28
From: William A Morgan

May 6, 2016

Dear Ms White:

I am writing to express my full support for the proposal to require full and transparent disclosure of mutual fund fees by investment companies. Showing the specific fees associated with an individual's mutual fund holdings should be required.

Mutual fund companies calculate the value of an individual's account on a daily basis and, of course, they must calculate their fees regularly before withdrawing them from an individual's account. Therefore, there would be no burden on a mutual fund company to report those fees on a regular basis.


William A. Morgan