European Stars And Stripes (Newspaper) - April 10, 1988, Darmstadt, Hesse Page 20 the stars and stripes sunday april 10,1988 investor s guide by Bill Doyle q. A St june two broken offered me the Opportunity id per Char Iliin of t clotted end than Igol investment company m $10 per Shire. The comp my no being Durgi Nirol la invest in municipal Bonds. Each broker said no los charge would by Enro bed because it was a new taut. The preliminary prospectus each broke provided listed Price to Public m Sid per share wit no figures for Unden Itil air discount sind a Otmis Doyle Lonj and proceeds to the fund. I not rated ibis offer from one of the broken mid purchased 1,900 shares ,000. Recently i secured a Waltr prospectus which shows per share underwriting discounts to commis Sions As "so.s5" and proceeds id thefundas"s9js." this indicates to me i hat my Pur chaw was not free of All sales charges and that in fact i did a $650 of someone. Can Yog provide any enlightenment regarding such a transaction a. The Lidahl went on for you when you read that second prospectus which spelled out a sales charge of 65 cents a share. If two brokers told you what you say they did they lied. In a new Issue situation such As this a group of brokerage firm acting As an underwriting Syndi Cate buys the shares from the is suing company at one Price j9.35 in this Case and sell those shares at a higher Price $10 in this Case. The 110,000 you paid Bough you shares Worth j9.350. Your other $650 went to the broker. The Pierni luminary prospectus should have warned you. Among other things it says information contained herein is subject to completion or amendment. Did t it occur to you that i Leblank spaced below the under writing discounts and commis Sions and proceeds to the fund headings would be tilted in you should have received an effective prospectus showing those numbers when you bought the snares. After you sent your Check the brokerage firm was required to Send that prospectus to you. Q. At the annual meeting or my Mutnik fund shareholders approved a proposal to increase the annual Adri Selry fee paid to the fund s managers from 0.6 percent of the fund s assets to 1.1 percent of Host Astels. I Low will this bulge in the fee Alicet my dividends a. Unless the managers of thai fund can pull rabbits out of the hat and higher yields out of the air your dividends will be lower. The advisory fee usually the biggest part of a Mutual fund s operating expense is going up one half of percent. It Fallows that your dividends will be reduced by an equal amount. If the dividend yield has been say 8 percent you cart in pert it to drop to 7,5 percent that 1.1 percent advisory fee is outlandishly High. It s amazing that shareholder voted la approve it. In your shoes i d Vole with Dyfed and get out of that Mutual fund. Stronger Dollar boosts Market new York up the prospects for a renewed Effort to Stem the Dollar s decline turned the trick on Wall Street last week As investors reacted by sending the Dow Jones Industrial average to its highest close since oct. 19. The Dow Industrial average which Rose 28.02 Friday closed the week at 2090.19, the highest closing level since the Maricki plunged last october. The previous Post collapse High was 2087.37, set March 18. For the Wryk the Blue Chip indicator jumped 102.13 Points or 5.1 percent its second Best weekly performance Ever. There has been a Radical change in pay Aetiology Michael Max of Oppenheimer new York Exchange new Iff tit Ottili stir ibid m new vat Slock elem ii c co. Said Al the dose of ruling on Friday. There s been a very significant rally in the Bond Market interest rate appear to have peaked for the Lime being and there is a feeling of Dollar stability against that background Confidence in the Market Outlook has ctn restored Metz said. In addition there has been a revival of institutional participation which has been dormant for several months. Lastly there appears to be some for eign interest now that the currency risk has been diminished. The Market is on its Way to considerably higher on wednesday the Market s Best Day of the week the Dow soared 64.16 Points. The catalyst was an improvement in the Dollar which Rose on a japanese news report thai the industrialized democracies would reaffirm a lower limit 2.04i.1do 7.,03q,Doo 1.i2c.ooo 1.m2.boo 1.551.Ti.4js.oxi i.4j4.5w m 34 hi134 son a Mutt it Dell Al Isu Lvi american Exchange. Slot a Idun cvnpos.1l living i h8.40j blk inso cons of Mil aunt up 3�jw.hw 2tt.io to Man in aim a up i for the Dollar at i2s yen. The Dollar closed the week to 125.60 yen. Broad Market indicators also staged Sharp advances on the week. The new York Stock Exchange Compo mitc inde Rose 5,43 to 152.03. Standard & poor som Rock Index jumped 10.54 to close the week at 269.41 advances cd declines 1,312-598 among the 2,177 issues traded. Big Beard volume totalled 854,520,813 shares compared with 597,184,810 list week and s89,714,200 a year ago. On the american Stock Exchange the amex Market value Index Rose 4.06 to close at 300.49, and the National association of securities dealers Index added 7.1910381.83. Advances led declines 442-356 among 1,020 issues traded on the amex. Vol ume totalled 49.235,585, shares com pared Wilh 43,006.570 traded a week ear Lier and 69,906,625 traded in the some West t year earlier. Dome Petroleum led the amex actives unchanged at 1. Lorimar Tel epic hurts followed up a to 15. Wang labs class b was third up w to 12. Swedish King Queen visit Washington Impi president and mrs. Reagan will Host b private Din Ner 31 the White House for the lung and Queen of Sweden monday evening the White House announced Friday. 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