Subject: File No. S7-24-15
From: Robert Costos

February 21, 2020

I have been investing and advising in the various markets for over 50 years. These funds give investors a simple and convenient way of reducing risk in their portfolios. With interest rates so low, the traditional purchases of bonds has just as much risk as stocks without the potential returns. So many investors find themselves owning a much higher percentage of equities than they should especially for their age
I do not see the benefit but do see the bad precedent being set here. Pretty soon you will be regulating managed mutual funds as a bad idea versus index funds. How many investors REALLy understand what they are buying when they buy index funds? (Just more of the megacap Trillion dollar names that have ballooned up in price)
This is a bad idea.