From: Jonathan Plummer [jonathan_plummer@hotmail.com]
Sent: Monday, December 02, 2002 12:04 PM
To: rule-comments@sec.gov
Subject: S7-36-02 Proxy Voting Policies and Records 

Dear Mr. Katz: 

I am writing to express my support of the Securities and Exchange Commissions 
recently proposed rule regarding Disclosure of Proxy Voting Policies and Proxy 
Voting Records by Registered Management Investment Companies (File No. S7-36-02). 
I believe the proposed rule will encourage meaningful disclosure that will 
bolster investor confidence in the equity markets, which have been so severely 
challenged by the crisis of corporate governance over the past two years. 

The proposed rule is a major step forward in providing greater transparency to 
investors like myself, whose proxy assets are held in mutual funds. I value the 
information on voting policies and votes cast, and I believe that the few mutual 
fund companies that do disclose both their votes and their proxy voting policies 
have demonstrated that such disclosure is both possible and of interest to 
investors. I want to be sure that other fund companies are also voting proxy 
assets in investors best interests, rather than in their own interests. 

I have been deeply concerned by the plague of unfolding scandals this year, 
and have welcomed the chance to find out how my fund managers are using their 
own clout to demand more responsible practices and transparency at companies 
in my fund portfolio. The SECÆs proposed rule would not only help investors 
identify those funds that carefully examine proxy proposals before voting on 
them, but also highlight those funds that emphasize strong corporate governance 
and high standards of corporate responsibility. The rule would also provide for 
fund owners to be alerted when fund managers vote counter to established voting 
guidelines. Such disclosure would encourage mutual funds to take seriously their 
fiduciary duties to vote proxies in the best interests of shareholdersùwhich I 
applaud. 

Over a dozen mutual funds and investment advisers already provide such disclosures 
through posting their votes or articulating detailed voting policies on their web 
sites. It is time such disclosure be made by every mutual fund whose fiduciary 
duties include the voting of proxies on behalf of their investors. 

Careful and thoughtful proxy voting helps bring increased managerial accountability 
and social responsibility to many companies, and there is mounting academic evidence 
that progress on social, environmental, and corporate governance issues is linked to 
positive, long-term corporate performance. When all mutual funds reveal how they plan 
to handle the proxy voting process, and how they actually cast proxy votes, enabling 
shareholders to know what is being done in their name, we can expect corporate 
governance, accountability, and long-term financial performance to improve. 

Sincerely, 

Jonathan Plummer



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