Subject: File No. s7-12-18
From: Mark Moran

December 4, 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 look for how aggressive the fund is to see if it fits into my philosophy about investing. Also when I invest it is for a minimum period of 5 years.

What the average returns have been for 5, 10, 15, to the life of the fund, also look to see how they distribute gains


I do not have a set of online tools just look at the numbers and how much the fund turns over.

did not know you had any info but will start looking

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?
Yes i read them. For the most part I do and if I don't I look up the information. have no idea what that might be

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?
just helps to verify if I want to invest in the fund. when looking at numbers yes, at least for me.

have no idea on the tech tools

4. Do you use the advice of a financial professional? Does a financial professional's help affect whether and how you use fund disclosures?
about 25% of my decision is based on financial professional. no


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?
Mail - snail mail

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?
account info very little other than that. no

7. How can the SEC better use technology and communication tools to help investors focus on important fund information?
I do not know at this time


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?
I feel it has come down from what it used to be. the charts a graphs are help full. in place of

9. Do you prefer to receive shorter 'Summary' disclosures, with additional information available online or upon request?
I do not know as I do not trade mutual funds that much. it could be help full

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?
no. no just the funds return is enough


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. they should state how aggressive the fund is. yes

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 but you have to look for them, should be up front info. no

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 only way to make a decision. it is good enough.


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?
not that I can think of at this time