February 1, 1993
TO: BOARD OF GOVERNORS NO. 9-93
DIRECT MARKETING COMMITTEE NO. 8-93
PUBLIC INFORMATION COMMITTEE NO. 7-93
SHAREHOLDER COMMUNICATIONS COMMITTEE NO. 6-93
SALES FORCE MARKETING COMMITTEE NO. 8-93
RE: RESPONSE TO FORBES ARTICLE
__________________________________________________________
Attached is the cover story on mutual fund fees and
expenses in the February 15 issue of Forbes and our analysis of
the story. You may want to use some of the points in the
analysis in responding to questions from reporters, shareholders,
and others.
We will also be drafting a brief letter-to-the-editor, and
will send a copy to you in the near future. If you write such a
letter, we would appreciate receiving a copy, which should be
sent to Erick Kanter.
Matthew P. Fink
President