From: Jacob Melamed [jacobmelamed@erols.com]
Sent: Wednesday, October 23, 2002 4:03 PM
To: rule-comments@sec.gov
Subject: S7-38-02 (Proxy Voting by Investment Advisors)

This proposed rule is the simple recognition the shareholders of mutual 
funds are entitled to full disclosure of  the actions taken on their 
behalf by the advisors that have been retained by the shareholders.  
The full disclosure of proxy voting policies  and actual votes cast on 
shareholders' behalf  is a right of shareholders.  Any arguments to the 
contrary are a fundamental misunderstanding of the investor - investment 
advisor relationship.  With the ready availability of the internet, 
additional costs in disseminating this information should be minimal.  

Jacob I. Melamed, Mutual Funds Owner
6304 Swords Way
Bethesda, MD 20817