The SEC has provided more detail on how funds can illustrate their investment performance in new and newly revised SEC documents. The details concern the newly revised N-1A form and the new profile or summary prospectuses.

The SEC, in a letter to Craig Tyles, general counsel of the Investment Company Institute, said funds can use only returns which include sales charges, or loads, in N-1A performance tables. In addition, funds cannot use, in fund profiles, so-called other account performance, such as a fund manager's track record running a different fund than the one described in the profile. The SEC plans to publish its responses to questions from Tyles on its website, www.sec.gov.

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