Subject: File No. 265-28
From: Brian Burris

May 8, 2016

I would like to receive "dollar and cents" disclosure on my mutual fund statements. I have recently been able to put together a list of all the expense ratios thanks to your work in requiring this to be outline is annual statements. While I saw these numbers in the past, it wasn't until the past few years that articles detailing how this affects a fund's performance over the long run is significant. With my list of ratios in hand, I have begun moving investments into lower cost funds without sacrificing returns as far as I can tell. I would like to see more costs detailed in my statements from the investment companies. I would like to see actual costs, not percentages of hypothetical amounts. The information is available to the investment companies, and it should be available to investors. When I asked one firm's representative. He explained that these costs are incurred daily and are used to adjust the selling price of each fund at the end of the day.

Monthly cost statements shouldn't be too burdensome to the companies that can tally the results and adjust selling prices daily.