April 5, 2004
Here are some comments on the proposed documents from the point of view of someone who has invested for about 20 years but still remains confused over the use of some terms and machinations of the investment industry:
Attachment 1 - Class A share purchase. The Sec. B example shows a front-end sales load of 321.18. Sec. C shows a sales fee. the relationship between the sales load in Sec. A and the items in Sec B is not clear in terms of the dollar amounts. For example, what is the difference between a load and a fee and how do they relate in the example. Some explanations or definitions in Sec. F would be helpful.
Attachment 2 - Class B share purchase. The selling of shares in one year, in two years, etc. may not be entirely clear. For example, if one sells one year and one day after the purchase date, is the sales load or fee 5 or 4. Use of more specific terms, such as within the first year, or simply providing examples with specific buy/sell dates would be more clear.