From: Lamar and/or Janice Burd [lburd@ptdprolog.net]
Sent: Thursday, December 05, 2002 11:57 AM
To: rule-comments@sec.gov
Subject: File Number S7-36-02

Gentlemen,
 
We would like to go on record as favoring the subject proposal that 
mutual fund companies reveal to shareholders of a fund how the mutual 
fund company voted in regard to proposals made by the Board of 
Directors of companies whose shares are owned by the mutual fund 
company.
 
My wife and I are both retired and, except for our home and a few 
personal possessions, virtually everything we own is invested in 
the market. Anything that could be done to assure that our investments 
are being managed in the best interest of us mutual fund shareholders 
would add substantially to our feeling of financial security. As a 
result of the recent bear market and the revelations of the chicanery 
going on in corporate board rooms, this feeling of financial security 
is badly in need of shoring up. Only the continued confidence of the 
consumer has kept the recent recession from becoming a total meltdown. 
Any added loss of confidence which would be created by suspicions 
regarding the motives of mutual fund companies would only add to our 
loss of confidence.
 
Arguments raised by the mutual fund companies that providing this 
information would be difficult is spurious in this age of computers. 
Are we to believe that tracking and reporting their own proxy voting 
record is more difficult than tracking their market investments or 
keeping track of the interests of their thousands of shareholders?
 
It has been suggested that mutual fund companies curry the favor of 
companies that they own by voting their proxies as these companies' 
boards would like in order to be considered favorably by those companies 
when their boards select mutual fund companies to manage their 401(k) 
and other pension plans. It would make more sense to us (as well as 
increase our level of confidence) if the selection of a pension fund 
manager was based on such things as the performance of that fund's 
managers and the fees that they charge. This not only makes a great 
deal of economic sense but it is also far more ethical. It is also 
what a prudent person would do.

We hope that you will give favorable consideration to our arguments 
on this matter.

Sincerely,
Janice and Lamar Burd