------------------------------------- ANONYMOUS COMMENT #1 ------------------------------------- I have reviewed the profile prospectus as shown in the Mutual Funds magazine of August 1996. I find the way the data is presented excellent with one exception - I would change the chart of How Has the Fund Performed as follows: 1) Delete the current chart 2) Add a chart which shows the year by year results of the following for no more than ten years or from inception, if that is less: a) Show the fund total performance b) Show the S&P 500 for that same period c) Show the 3-month U.S. Treasury Bill Index d) Show the Lipper (or any other useful index) for that same period that most matches the fund objective. e) Inflation for that same period I look forward to receiving this type of prospectus in the future - sooner rather than later. ------------------------------------- ANONYMOUS COMMENT #2 ------------------------------------- No more delays on the Profile Prospectuses please. Just do it please. Three years now, and what would four or five years really accomplish for any of us? ------------------------------------- ANONYMOUS COMMENT #3 ------------------------------------- After reading a copy of a sample profile prosectus, I would encourage you to make this type of prospectus available very soon. It has all the pertinent information to make an educated decision to invest or not in a simple, easy-to-read, and concise format. One does not have to spend hours wading through what I call "legal" language to get to the most significant investment factors in their consideration for investing. Also, the large amount of money saved in printing and mailing costs is another very important reason for the new format. Ultimately, these cost savings would benefit the investors that these prospectuses are designed to protect. As you can see, your action to expedite the approval process of the profile prospectuses would benefit investors by providing a simpler format and reducing the costs to provide these investment tools. ------------------------------------- ANONYMOUS COMMENT #4 ------------------------------------- As an investor in mutual funds for the past few years, I have become comfortable with reading a fund's prospectus. However, I also find that I ignore a great deal of information because even now I cannot, or do not choose, to wade through all of the detail and confusion that is packed into the pages, especially in the charts and graphs showing the change in NAV in any particular year. If I, a reasonably seasoned investor, have this problem, I can well imagine the problems encountered by novices. I was particularly fortunate to have friends to help me wade through them initially, since I was certain that I did not want to invest in any funds with loads (thus precluding the help of a broker). I strongly support the addition of profile prospectuses for the benefit of the investing public and urge that they be adopted for use without further delay. This is not a matter which should need a great deal more study than has already been given, especially in light of the fact that the currently proposed profile prospectus has such widespread support. Let's get on with it. ------------------------------------- ANONYMOUS COMMENT #5 ------------------------------------- Mr. Arthur Levitt SEC Chairman It is my understanding that the above subject has been studied for over three years and no action has yet been taken! The majority of the people want a prospectus that is easy to read and understand. The Profile Prospectuses fills that need. I urge you to see that this becomes a standard for the mutual fund industry. ------------------------------------- ANONYMOUS COMMENT #6 ------------------------------------- Dear Chairman Leviitt, I learned about the Profile Prospectus form Mutual Funds Magazine and from the article it appears to be a great advance over the old style, difficult to read and understand. Since I will be doing more management of my investment protfolio, I encourage you to expedite the refinement and acceptance of this investor friendly format. I wish it was the standard today! ------------------------------------- ANONYMOUS COMMENT #7 ------------------------------------- As a small investor, over the past fifteen years, I would urge your support of the adoption of the Profile Prospectus format of the type described in the August issue of Mutual Funds Magazine. The reading of a prospectus of the current format has always been a difficult and confusing process. It leaves me wondering if I am making a reasonable choice when selecting a fund.