March 31, 1992
TO: ACCOUNTING/TREASURERS MEMBERS NO. 18-92
OPERATIONS MEMBERS NO. 14-92
SEC RULES MEMBERS NO. 14-92
RE: MULTIPLE CLASS ACCOUNTING AND REPORTING
__________________________________________________________
The attached paper describes the accounting operations and
reporting conventions that have evolved for mutual funds with
multiple classes of shares. The paper was developed by the
Accounting Policy Subcommittee of the Institute's
Accounting/Treasurers Committee and was unanimously recommended
for dissemination to the ICI membership by the
Accounting/Treasurers Committee and the Institute's Independent
Accountants Advisory Group.
This document is intended to provide technical information
at the accounting operations level for ICI members who may be
considering a multiple class structure. The principal authors of
the paper are:
Susan Cote - Prudential Mutual Fund Management
Rich Silver - Colonial Management Associates
Ron Wolfsheimer - The Calvert Group
Teresa Westbrook - Deloitte & Touche
Please feel free to call me with any questions or comments
at 202/955-3552.
Donald J. Boteler
Assistant Vice President -
Operations