Subject: File No. 265-28
From: Fred Oswald
Affiliation: retired mechanical engineer

May 7, 2016

I strongly support the proposal to require mutual fund companies to disclose actual annual costs for the funds they sell.

This information should be presented in a way similar to the disclosure of annual appliance operating costs via a small graph showing low and high costs as well as the cost for the fund in question. This disclosure should appear near the top of required annual performance reports so the individual investor can see it and understand its significance.