February 21, 1992
TO: OPERATIONS COMMITTEE NO. 6-92
BROKER/DEALER ADVISORY COMMITTEE NO. 7-92
TRANSFER AGENT ADVISORY COMMITTEE NO. 9-92
RE: FINAL REPORT - SURVEY OF BOOK VERSUS PHYSICAL SHARES
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Enclosed is a copy of the final report which summarizes the
results of the Transfer Agent Advisory Committee's Survey of Book
Versus Physical Shares. This survey was conducted to determine
the form in which open-end mutual fund shares are presently being
issued and the overall composition of shares (book entry versus
physical certificates) outstanding. The survey was created to
assist the Institute's in its work as a participant on the Group
of Thirty U.S. Working Committee.
As requested by the Transfer Agent Advisory Committee, the
results have also been presented based on the primary
distribution channel of each complex (retail versus
broker/dealer) for money market and non-money market funds. If
you have any questions regarding this project or the report,
please contact me at the Institute at 202/955-3583.
Kathleen C. Joaquin
Director - Operations/Fund
Accounting
Enclosure