November 3, 1989
TO: UNIT INVESTMENT TRUST COMMITTEE NO. 75-89
RE: REVISED UNIT INVESTMENT TRUST YIELD FORMULA
__________________________________________________________
Attached is a memorandum from Cadmus Hicks setting forth a
revision to the formula adopted by the Committee on October 19.
The revised formula treats accrued interest in the same manner as
originally proposed by the yield subcommittee for the purpose of
computing the effect of the sales charge (i.e., the numerator
includes accrued interest on the bonds.)
This memorandum is being set by overnight mail to the five
members of the UIT Committee that will attend the November 9
meeting with mutual fund representatives in New York. A copy is
also being sent to the mutual fund representatives.
Craig S. Tyle
Associate General Counsel
Attachment