In a widely anticipated move last week, the Securities and Exchange Commission unanimously approved a requirement for mutual funds to send investors a short-form, summary prospectus.

"The summary prospectus will quickly give investors a basic understanding of the fund and will permit them to compare one fund to another," said SEC Chairman Christopher Cox. "Investors will also have access to more searchable information about mutual funds on the Internet-an important improvement in their ability to comparison shop."

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