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Bruce Painton Comment On Regulatory Notice 22-08

Please continue to let the small retail investors trying to build their retirement funds when the markets begin to fall, continue to trade inverse and multi-leveraged funds. IRA accounts are not allowed to short stocks and can't get margin for shorting so when markets go down so fast and stops are not always in place, we become "bag holders" in many good company stocks but because the market trend is down at the time and we would have big losses if we sold as prices fall. To hedge our portfolios we can either use options or buy inverse ETF's.

Al Fillenwarth Comment On Regulatory Notice 22-08

I should be able to choose the public investments that are right for me. Public investments should be available to all of the public, not just the privileged. There are certain times when inverse mutual funds work well in my portfolio. Not having availability to these types of investments would force me to use futures to achieve my goals and protect my portfolio in turbulent times. We all know that futures are a much riskier investment than inverse mutual funds.