March 6, 2007
To Whom It May Concern:
I strongly believe that it would be beneficial to mutual fund investors to have the Risk/Return summary information readily available and searchable via XBRL structured form. The key to the guidance should be that it is both clear and consistent across funds. Risk/Return summaries contains most of the back-of-the-envelope information that an individual investor typically uses when choosing among investments. For this same reason, it is not ideal to differentiate the requirements for funds of different size and class and instead maintain consistency for the investor community, as well as straightforward reporting requirements.
On a similar note, all summary material should be tagged for consistency. While the financial information is the critical component of an investment decision, the non-financial narratives provide a framework for the drivers of the funds and allow clear research and comparisons on sectors.
Thank you in advance for taking this into consideration,
Ayal Rosenthal