August 6, 2015
I write in opposition to the Securities and Exchange Commissions proposed Rule 30e-3, which would eliminate the current default requirement for mutual funds to transmit information to investors in paper form. I strongly oppose this proposal on the grounds that it shifts the burden to investors by requiring them to opt-in to paper delivery of critical fund information rather than having the option to opt-in to electronic delivery. Shareholder reports are important tools for investors, and implementing this change will potentially harm millions of investors the majority of whom have already expressed a preference for paper-based investment reports.
I believe that paper communication should remain the default option for this information because:
1. The majority of investors prefer to receive shareholder reports in paper format.
2. Significant portions of the population lack access to electronic services. Mail delivery provides the broadest access to all recipients and should be the default option.
3. Paper communication has significant benefits over electronic communication for content such as shareholder reports.
Thank you for your consideration.