From: MJPenn359@aol.com
Sent: Tuesday, December 03, 2002 2:31 PM
To: rule-comments@sec.gov
Subject: Requirements that mutual funds disclose proxy votes

Hello SEC staff,

I would like to add my voice to those who support requiring mutual funds to 
disclose proxy votes to the funds' shareholders and owners.

If a proxy is voted on my behalf -- and in my best interests as an owner -- 
why should the fund company be afraid and unwilling to reveal the contents of 
that proxy vote?

More sunlight shined upon these votes will undoubtedly reveal conflicts of 
interest between the fund companies, seeking to amass and administer 
retirement plan assets, and the best interests of the shareholders who own 
the investment companies and on whose behalf proxy votes should be cast.

Require funds to immediately disclose their proxy votes; let's end these 
conflicts of interest between fund companies and their owners, who must no 
longer be kept in the dark.

Regards,

Michael J. Penn
P.O. Box 532
Libertyville, IL     60048-0532
MJPenn359@aol.com

P.S. While you're at it, why don't you also require fund companies to 
disclose the full compensation of fund managers?  The amounts would both 
stagger and outrage.