January 5, 1996
TO: OPERATIONS MEMBERS No. 2-96
BANK BROKER/DEALER ADVISORY COMMITTEE No. 1-96
BROKER/DEALER ADVISORY COMMITTEE No. 1-96
TRANSFER AGENT ADVISORY COMMITTEE No. 1-96
RE: WHITE PAPER ON CONVERSION OF B TO A SHARES
______________________________________________________________________________
A task force of the InstituteGs Transfer Agent Advisory Committee recently prepared a White
Paper discussing the operational and systems issues related to converting B shares to A shares. This
document was developed to address issues that may arise when a mutual fund complex prepares for its
initial conversion of shares. Guidance with respect to preparing for the conversion, the conversion
itself, and post-conversion issues are presented in the attached document. Also included are results of a
survey conducted by the task force to determine current industry practices with respect to converting B
shares to A shares.
The task force was chaired by Mary Crooks of Oppenheimer and the following individuals
participated in the research and preparation of the document:
Mary Crooks, Oppenheimer - Chair
Michael Collins - Rochester Funds
Lester Duman - PNC Financial Services
Edward Falvey - Keystone Investments
Charles Hawkins - PNC Financial Services
Emily Hutchinson - The Colonial Group
Tom Lanio - Van Kampen American Capital
Roni Mizrahi - The Colonial Group
Dave Pineda - Oppenheimer
Lois Rettinger - National Investors Data Services
Steve Shedlock - Massachusetts Financial Services
We wish to extend our appreciation to the task force on behalf of the Transfer Agent Advisory
Committee for their time and effort in preparing this information. If you have any questions regarding
this document, please contact Justine Phoenix at 202/326-5850.
Cynthia Jones Justine Phoenix
Colonial Investors Service Center Director - Operations/
Chair - Transfer Agent Advisory Committee Transfer Agency
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