Subject: File No. s7-12-18
From: LOGAN Fowler

August 13, 2018


1. How do you pick funds? What information do you want to know when you make an investment in a fund? What publications or websites do you review? What tools, online or otherwise, do you use? Do you look at the SECs website?
I use a fund screener. I do not use government sites for anything (other than this survey)

2. Do you read current fund disclosure documents? Do you understand them? Is there information you do not receive from the fund that you would like to get?
No. Too complex and too much irrelevant garbage. What am I supposed to do with fund financial statements.

3. How well do current fund disclosures (such as a summary prospectus, prospectus, or shareholder report) help you pick an investment? Is it easy to compare different funds? Are there technology-based tools that could make fund comparisons easier? What helpful features do those tools have?
Fund screeners are great. Disclosures are horrible.

4. Do you use the advice of a financial professional? Does a financial professional's help affect whether and how you use fund disclosures?
No. They are way too expensive. 1.25% of my life savings each year to be put in 4 index funds is crazy. You want to increase fee transparency, start with brokers and advisers instead of sweating a few basis points on funds.


5. How do you prefer to receive communications about fund investments? For example, do you prefer mail delivery, email, website availability, mobile applications, or a combination?
Email and online.

6. What types of fund information do you prefer to access electronically? What types of fund information do you prefer to receive in paper? Are there other wayssuch as by video or audio, you would like to receive fund information?
Everything electronic. Let's try to save the planet... not paper producers.

7. How can the SEC better use technology and communication tools to help investors focus on important fund information?
Investors do not want to use government sites.


8. Is there too much technical writing in fund disclosure? Would you prefer more tables, charts, and graphs? Would these graphic displayes be in addition to, or in place of, text-heavy disclosures?
Yes. Simplify it.

9. Do you prefer to receive shorter 'Summary' disclosures, with additional information available online or upon request?

10. Should fund disclosures be more personalized? For example, should disclosures show the amount of fees you paid or your actual investment returns? If so, how?
Yes, lump in broker and adviser fees. Make sure investors see the drag and let them compare fees.


11. Do fund disclosures make the fund's strategies and the level of risk clear? How can funds improve these disclosures? Would a risk rating, such as a numerical or graphical measure of risk, be helpful?
No, shorten it. Risk ratings would be helpful.

12. Fund fees and expenses can significantly affect a fund's investment returns over time. Do you think funds clearly disclose their fees and expenses? How could funds improve the disclosure of fees and expenses? Would a comparison of your funds fees against other funds fees help?
Yes. Show brokerage and adviser fees. MAKE THOSE CHARGES MORE TRANSPARENT. Not just a range, but what real investors pay. (Like a truecar value for buying a car.)

13. Do you consider the past performance of a fund when making an investment decision? How could we improve the presentation of performance information?
Yes. Compare to a market measure I understand, and the asset class the fund holds.


14. Aside from this questionnaire, are there other ways the SEC can engage with investors, like you, on key topics? Is there anything else you would like to tell us?
Stop.those advertisement on websites that look like news articles.