European Stars And Stripes (Newspaper) - April 16, 1989, Darmstadt, Hesse                                Page 20 the stars and stripes sunday. Apr i116,1989 Good economic reports boost Market new York up the Stock Market Rose last week in moderate trading scoring most of its gains Friday in response to Good Cor Mic report thai helped to Calm anxieties about inflation. The Dow Jones Industrial average which jumped 41,06 Friday to close Ai 2337.06, gained 32.26 Points or 1a percent for the week. Broader Market indicators also Rose. The new York Slock Exchange composite ind gained 1.96 to 168.89 and Standard & poor s 500-Stock inc surged4.20 to 3d 1.36. Advances Ted declines 1.113-710 among the 2,115 issues traded. Big Board volume totalled 747,390,220 shares compared with 794,718,430 the previous week and 923,644.950 shares a year ago. Early Friday the labor department said inc March producer Price Index Rose 0.4 percent compared with 1 percent gains in both january and february and analysis said the report which met expectations helped to ease fears of inflation and higher interest rates As did the other economic data. Traders said the various movements in Slock prices were accelerated by arbitrage related trading in the futures Market. Buy and sell programs kicked in when it became profitable for players to either Purchase or unload stocks in relation to the premiums offered on their futures contracts. On the trading floor Smith Kline Buckman was the most Active Issue dropping 3 it to 63 i. Exxon followed easing to42,, to31 i. Investor s guide by Bill Doyle q. You describe True no Load Mutual funds is those chiral in no commission when investors buy shares no rear end Load in the form of redemption fees or contingent deferred sales charts when shares re redeemed and no 12b-l plan constantly eroding shr  on the surface True no Toad Mutual fund scent Ideal. Bui How do they generate Money to cover the Cost of Donn business i cannot be of that  All profit for investors and nothing for fund management., v.  a. Of course it does t. The peo ple who manage Mutual funds Load and no. A a. Load arc Well compensated for their efforts. Every Mutual fund has operating expenses. Aswill other types of companies operating expenses Are Doyle deducted from Gross income. At the typical Mutual fund the biggest operating expense is the management fee sometimes called inc investment advisory fee. Among other things that fee pays the salaries of the people who run the fund. A Well run Mutual fund keeps its total annual operating expenses below i percent of the fund s net assets. You la find that percentage figure and other expense data on Page 2 of every Mutual fund prospectus printed since May 1,1988. Loads front and Roar go mostly to brokers and other sales people not to fund managers i2b-l fees also arc supposed to be used exclusively for distribution of fund shares mean ing1 that Money is to pay for sales. Q. I bought shares of u Mutual fund about three j cars Lino and had no idea the fund had a 12bl plan. 1 list summer the letter a begun appearing beside the fund s name in newspaper tables. The a Means the fund has a llb-1 plan. Cuil u Mutual fund change to a 12b-l plan without informing shareholders a. Nope. If the fund did not have a i2b-l plan it could not adopt one without approval by the owners of a majority of its shares. Voting by shareholders Wouldhave to be conducted at the fund s regular annual meeting or at a Spe Cial shareholders meeting. Many newly organized Mutual funds have 126-1 plans right from inc go. That Way management does t have to ask shareholders to vote. I suspect your fund had a 12b-l plan All along but you weren t aware of it until you noticed thai a in the tables. Stiffer fuel rules reported planned new York a in a move that would reverse recent policies the Bush administration Isa pecked to announce stricter fuel efficiency rules for 1990 Auto mobiles the new York times reported. The times reported in its editions sat urday thai transportation Secretary Samuel a. Skinner has decided that automakers should be required to attain an average fuel consumption of 27.5 Miles per gallon in All cars they manufacture. The current Standard is 26.5  president Reagan s administration had proposed repealing the fuel Economy requirements which were first imposed Dun no the 1974 Oil shortage. Although . Automakers would no Welcome the proposed new full Titi Cliency Mutual funds Rule it was not expected to have a drastic effect on them the newspaper reported _ foreign cars imported into uie United states also would have to meet the Stan Dards. -. Most foreign can have no trouble meeting the Standard but some manufacturers of cars such As the Jaguar Mer cedes Benz and porsche have nol always met the Standard and have bad to pay penalties to the government. It is too Laic to change the design of 1990 Model cars bul the us. Automobile Indus try probably would meet the new require ments by Selling More of the smaller fuel efficient cars i betimes  the standards would apply to the average mileage of All vehicles made by one company automakers Likely would provide rebates and incentives to lure buyers 10 smaller High efficiency cars. Companies would be allowed to fall Short of the fad goal in one year without any penalties if they exceeded the Stan Dard the next  times said the stricter 1990 Stan Dard would nol mean that the Bush administration intended to impose even. Higher standards in later  officials told the times that Skinner considered Energy production in making Bis decision. Automobiles bum about 30 percent of All the Oil use Din the United Stales and fuel efficient cars have Long been seen As a tool of. Conservation. From Page 19 my mi5ii Clif. Slitt sati so . ,5i omf1 Tate Palm  w. T 04 it i a. No. 21 nit 20 a is it 01 not m not .01 m.  of. Nit 9 9529i6 9 11441 2519 1192 Aati 119 9w bm1124 1031225pmwfnrr Vui id u a h i b it 09 ,9449mt 111 101 139. 0 971 1021. 09 we 11.itt is. Rib3u i9j5 20 idol io.s4t � 1oi 1699. A 10 i124t.01. 617. No. In flail Ifni Emit Maui of Tell ciuu1 Vui of cup Ohio unit n. 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