From: ewrzjc [ewrzjc@attbi.com]
Sent: Friday, January 17, 2003 2:31 AM
To: rule-comments@sec.gov
Cc: jfowler@dhs.ca.gov; evasquez@dhs.ca.gov; LBRIONES@DHS.CA.GOV; kgee@dhs.ca.gov
Subject: (s7-36-02) MUTUAL FUND PROXY DISCLOSURE

If disclosing proxies of mutual funds who have my money will “politicize” 
the process, this is good. I need to know if my mutual funds are voting 
for 100 million dollar salaries or stock options in order to decide if I 
want to keep my money invested with them. Not disclosing the information 
is a slap in the face to investors and will help to continue the lack of 
confidence in the market which has resulted in the movement of 2 trillion 
dollars to money market funds.

 Thank you for the opportunity to comment.

      “The SEC was scheduled to vote on Wednesday on whether to require 
	  funds to disclose publicly how they cast proxy votes. 
	  
When decisions on matters such as executive pay or stock options come 
before shareholders in corporations for a vote, funds cast proxy ballots 
on behalf of their own investors. Funds have not traditionally disclosed 
how they cast proxies. 

On Tuesday, the heads of the two biggest U.S. mutual fund companies joined 
forces publicly to attack the proposal. Fidelity Investments Chairman Edward 
Johnson and Vanguard Group Chairman John Brennan, usually rivals, said the 
SEC proposal would ''politicize'' the proxy voting process. 

The SEC has also proposed new rules to require funds to disclose more 
frequently information about the stocks in their portfolios and about 
the fees they charge. “



Edward Zajac       

7037 Berry Hill Court

Orangevale, CA 95662

ewrzjc@attbi.com