November 9, 1989
TO: OPERATIONS COMMITTEE NO. 23-89
RE: RPO QUESTIONNAIRE
__________________________________________________________
Because of the increasing pressure from States to force
investment companies to surrender abandoned property (returned
dividend and redemption checks and underlying shares), there is a
clear need to develop information regarding the costs of locating
lost shareholders, the costs of complying with State abandoned
property requirements and the nature and costs of available
independent shareholder search services.
The Institute, in conjunction with Coopers & Lybrand, will
be conducting a comprehensive survey of mutual fund transfer
agent billing practices in early 1990, using 1989 data. This
survey will update similar surveys performed in 1987 and 1988.
As a part of the 1990 survey, we are considering expanding the
questionnaire to collect information regarding processing of RPO
(returned by Post Office) accounts, efforts to locate RPO account
shareholders, and related data. However, in order to obtain more
timely information for the industry in this area, and to provide
us with feedback that will be helpful in properly constructing
RPO questions for the transfer agent survey, we have attached a
brief special questionnaire requesting information related
exclusively to your RPO procedures and experience.
Please return the completed questionnaire by December 8,
1989 to Donald J. Boteler at the Institute. The information will
be summarized and distributed to the Committee as soon as
possible. Thank you for your assistance in this effort.
Donald E. O'Connor
Vice President - Operations
Attachment