October 17, 1991
TO: MEMBERS - ONE PER COMPLEX NO. 54-91
RE: AVAILABILITY OF STATEMENT OF ADDITIONAL INFORMATION
__________________________________________________________
***THIS MEMO REPLACES THE ORIGINAL MEMO #47-91 WHICH WAS LOST DUE
TO COMPUTER FAILURE
In recent months, certain states have raised questions
regarding the two-part disclosure format of Form N-1A. In
particular, the states have expressed concern about the
availability of the Statement of Additional Information ("SAI")
and stated that, upon occasion, the SAI has not been provided to
investors who have requested such.
Please review your internal operations to ensure that the
proper procedures are in place to provide investors with the SAI.
Lawrence A. Rogers
General Counsel