Subject: File No. S7-18-96
Date:    6/9/97 9:19 AM
     
     
As an investment advisor who primarily uses open end mutual funds to help 
clients achieve their goals I cannot agree more that the current prospectus 
form needs some attention.  It is a very important document,  the first one 
in fact, that I or any investor should look at in contemplating a purchase of 
shares.  I believe that the role of the prospectus as a legal document of 
disclosure of owning shares in a fund company should not be lessened.  Far 
too many investors, (rapidly becoming consumers) buy funds over the 
telephone, thru the mail, thru advisors and brokers far too easily and 
quickly to understand and appreciate all of the potential risks and relevant 
information about fund ownership.  Improve the prospectus, make the language 
clearer, more specific, and more readable(i.e. John Hancock's new 
prospectus), so the average investor will be more likely to go through it.
 The requirement of the act of reviewing an important legal document must not
be lessened.  The prospectus requirement is a good thing that could use 
improvement.  I urge you not to replace it with the short form.  People are 
placing their hard earned dollars on the line, I believe the goal of your 
effort is to increase the investor's likelihood of success.  Selecting funds 
should not be made as easy as reading nutritional labels on food products.
 The more information and additional effort that goes into selection, the
greater  the likelihood that the fund owner will stay with the investment and 
reap its benefits(success).  As an advisor and investor I appreciate your 
effort on our behalf, thanks.

Dr. Scott D Greenbaum CFP