From: Michael Klein [mike@pfstrategies.com]
Sent: Wednesday, April 21, 2004 11:41 PM
To: rule-comments@sec.gov
Subject: S7-11-04

Sir or Madam:

 

I am an economist by training.  As such I plead with you to compare the 
significant costs of a mandatory 2% redemption fee if an exchange occurs within 
5 days to allowing the fund companies to set their own policies but report to 
the SEC on trading occurring within the five-day period.  The cost of the latter 
would be much less than that of the former.  You could allow less stringent 
reporting requirements for fund companies that implement fair value pricing.

 

Michael Klein
801 225-5050