[Hugh R]

Looking at Dreyfus Funds and their Premier Small Cap Equity fund, for a $100,000 investment they get 4.5% commission $4,500, and a 1.35% annual fee so my first year they take 6.75% approximately and to sell after 1 year a 4% out fee. So in one year they take 10.75% if I get out and if I hang in for 6 years a 1% exit fee. So on my $100,000 in year one its $6,750, year two through year 6 another 1.35% of the account value. But their 1 and 5 year growth is 13.7 and 16.01% which is pretty good. With 6.75% effective fees the first year on my $100,000, that shaves the effective return from 13.7-6.75 to under 5%. For year two, its less, but your in the hole or marginal returns for several years as you amortize that sales commission, not to mention the selling commission.