February 18, 2004
I heartily endorse the new proposed requirements for broker disclosures re sale of Mutual Funds
My personal gripe is how the actual dollar sales load you pay for a front-end loaded mutual fund is never stated in the confirmation statement received. The number of shares are given plus an ...offered NAV..., which is not the actual fund NAV. The only way you can find out the actual load you paid is to know the ACTUAL fund NAV at the instant the fund purchase order was processed, which is never stated.
The proposed disclosure requirements will take care of this ridiculous situation very adequately.
Lets Do It