Subject: mutual fund reporting debate
Date:    07/02/2000 4:07 PM


Dear sirs:      Re: File No. S7-09-00 

I believe that mutual funds should be required to report in advertisments, 
what
their results are (or would have been) if held in a taxable account.  That 
is
because many are held that way by investors and to report their performance 
without regard to turnover of stocks in their portfolio, with its attendant 
tax
consequences, is quite misleading.

Thank you for your attention.  I am an investor of many years, having owned 
mutual funds in both taxable and tax deferred accounts.

Peter E. Saving