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To: Lizzie Tudor who wrote (61210)	6/8/1999 1:22:00 PM
From: BGR	Respond to of 164684

Michelle, Sorry, it's copyrighted material so I can only publish a link. It's about Barclays introducing open end index mutual funds covering more indices than Vanguard which will trade as ordinary stocks (similar to the depository receipts like SPDR or QQQ) on exchanges with continually adjusted values. Which means better tax consequences for the investor, more liquid market resulting in smaller gaps between NAV and traded price and more choice of index funds. Hope this helps. -BGR.