A#

5914

P&S #:

5484

DATE:

October 13, 2004

TO:

ALL PARTICIPANTS

ATTENTION:

MANAGER MUTUAL FUNDS OPERATIONS, MANAGER DATA PROCESSING, MANAGER CASHIERS, MANAGER P&S DEPARTMENT

FROM: Mutual Fund Services
SUBJECT: Mutual Fund Profile Breakpoint Rules for Money Market Funds

Effective immediately, the descriptions for three data fields regarding money market funds will be modified on the Mutual Fund Profile Security Issue Breakpoint Linkage Rules (record type 029). The new descriptions will clarify the fund rules for allowing breakpoints on money market funds and for including money market fund assets in breakpoint calculations.

The three fields will be changed on both the fixed length and variable length record layouts with the following descriptions. The changes are in bold.

Fields

Values

ROA allowed for Money Markets
(Use only for money markets)

0 = No
1 = Yes for All
2 = Not Applicable
3 = Yes, only for shares that have already incurred a sales charge.

Money Market Counted/Allowed Toward ROA

0 = No
1 = Yes
2 = Not Applicable
3 = Yes, only for shares that have already incurred a sales charge.

Money Market Counted/Allowed Toward LOI

0 = No
1 = Yes
2 = Not Applicable
3 = Yes, only for shares that have already incurred a sales charge.

Changes to the Breakpoint Linkage Rules record layouts will be reflected shortly on NSCC’s website, http://funds.dtcc.com.

Also, changes supporting the new descriptions will be made to Mutual Fund Profile on PC Web Direct. The fields on the Security Issue Breakpoint Rules screen will be updated to provide a drop-down box containing the new descriptions.

Questions and comments regarding this Important Notice may be directed to Mutual Fund Services at 212-855-8877, or the undersigned at 212-855-5671.

Paulino B. Bucaoto
Mutual Fund Services