June 15, 2006
I FEEL IT IS VERY IMPORTANT THAT THE BOARDS OF OPEN-END FUNDS KEEP THE 75% INDEPENDENT MEMBERS SO THAT THE INVESTORS HAVE A BIG ENOUGH VOICE IN WHAT IS GOING OWNAT THE COMPANY.IT IS OUR MONEY THAT THEY ARE INVESTING,AND WE COULD BE LOST A BIG PART OF OUR MONEY BEFORE WE ARE AWARE OF WHAT IS GOING ON.THE INDEPENDENT BOARD SHOULD HELP KEEP MANAGEMENT FOSCUSED ON THE INVESTORS,AND NOT ON THEMSELF. THANKS DANNY E. DAVIS