Subject: File No. 265-28
From: Kenneth L Westbrook

May 7, 2016

Re: Mutual Fund Cost Disclosure

Consumers have a right to know how much they are paying for a particular good or service. Current disclosure policies, which require disclosing fees on a percentage basis, are not adequate. Fees should be disclosed in dollars and cents, so consumers can better understand what they are paying for.

Each quarterly statement should include the amount that is taken out of the client's account that does not actually purchase shares. The client should be able to see how much is removed from their account independent of asset gains or losses.