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|ERIC Comment Letter to SEC on Proposed 2% Redemption Fee|
The ERISA Industry Committee [ERIC]
May 12, 2004
11 pages. Excerpt: The ERISA Industry Committee ... is pleased to submit the following comments on the Commission's proposed rule ... requiring mutual funds to impose a 2% fee on the redemption of mutual fund shares purchased within the previous five days. The redemption fee, which would be retained by the mutual fund, is intended to require short-term investors to reimburse the mutual fund for costs incurred by the fund when the investors use the fund to engage in market timing ...
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