Author:  b tunink 
Date:    06/04/2000  2:21 PM

Subject: File No. S7-09-00

This is a crucial issue. To improve disclosure to investors of the 
effect of taxes on the performance of open-end management investment 
companies ("mutual funds" or "funds") is a noble and necessary 
objective.  Under the proposed amendments, mutual funds would be 
required to disclose after-tax returns based on standardized formulas 
comparable to the formula currently used to calculate before-tax 
average annual total returns. It is long overdue that the proposals 
also would require funds that include after-tax returns in 
advertisements and other sales materials to include standardized 
after-tax returns.  I would say that there are millions and millions 
of investors that are unaware that their voice could be heard by 
sending a letter such as this.  Please may my one letter represent 
the opinion of millions and millions of Americans.
     
Thank you,
     
BT