From: Susan Wang
Sent: May 28, 2004
Subject: File No. S7-12-03

I am writing to advocate that mutual fund portfolio managers make the disclosure their own investments easily accessible to anyone interested in investing in their funds.

From what I understand, that information is currently available in supplementary documents which are difficult to sort through. The proposed rules would make that information readily available for any investors of publicly listed mutual funds.

A manager's own vesting in a portfolio has been shown to effect performance. This is information can influence investment decisions. Easy access to this information is important for the public. Please require the easy public access of all portfolio manager's investments.

Thank you,
Susan Wang