Subject: File No. S7-06-04
From: George h Gardner, clu,chfc

March 6, 2004

-Net Performance is always the choice to make.

If Im paying a realator to sell my house because

my efforts arent producing results when I try myself.

the realator who performs gets paid. It costs me more but I got results.

The fund that produces net results will be betterif

someone charges the same or more and is not competitive
then they will lose business.

Index Funds with no 12b1 charges do not outpreform
all funds that have 12b1 fees.

Leave it alone and let the market with competition take care
of itself.