FIRST INVESTORS GOVERNMENT FUND INC
N-30D, 1996-08-14
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FIRST
INVESTORS
GOVERNMENT
FUND, INC.

SEMI-
ANNUAL 
REPORT



JUNE 30, 1996


Vertically reading from bottom to top in the center of the page the 
words "FIRST INVESTORS" appear.

The following language appears to the left of the above language:

The words "BULK RATE U.S. POSTAGE PAID PERMIT NO. 7379" in a box to 
the right of a circle containing the words "MAILED FROM ZIP CODE 
11201" appears on the righthand side.

The following language appears on the lefthand side:

FIRST INVESTORS GOVERNMENT FUND, INC.
95 WALL STREET
NEW YORK, NY 10005

The following appears on the bottom lefthand side:

First Investors logo 
A MEMBER OF THE
FIRST INVESTORS
FINANCIAL NETWORK

FIGV085



Portfolio Manager's Letter
FIRST INVESTORS GOVERNMENT FUND, INC.

Dear Investor:

As 1996 began, most investors expected the U.S. economy to continue to 
slow or even enter a recession. Instead the economy accelerated 
throughout the first half of the year. After growing at an annualized 
rate of only .5% in the fourth quarter of 1995, the economy expanded at 
a 2.2% pace during the first quarter of this year and at an estimated 
3.5%-4% during the second quarter. Concern that faster growth would lead 
to higher inflation contributed to a sharp rise in interest rates with 
the yield on long-term U.S. Treasury bonds increasing from 5.95% to 
6.87%. Despite higher interest rates the stock market continued to rally 
with the broad stock market averages hitting record highs during the 
second quarter. 

Faster economic growth, expectations of higher inflation, the failure of 
Congress and the President to agree on a balanced budget plan, and 
selling by speculative hedge funds contributed to a rise of almost 100 
basis points (1%) in long-term U.S. Treasury bond yields. As rates 
increased, mortgage-backed bonds outperformed Treasury bonds. The 
greater income on mortgage-backed bonds helped offset loss of principal 
due to rising interest rates. Mortgage-backed bonds also benefited from 
increased demand as investors bought them to take advantage of their 
relatively high yields.

During the first half of 1996, the Government Fund had a total return on 
a net asset value basis of -0.8% on Class A shares and -1.2% on Class B 
shares. In comparison, the average return for GNMA bond funds was 
- -0.9% according to Lipper Analytical Services, Inc. The Fund paid 
dividends from net investment income of 32 cents per Class A share and 
28.2 cents per Class B share. Management of the Fund focused on reducing 
interest rate exposure to protect the Fund's investments as the market 
declined during the first six months of the year. The Fund accomplished 
this in several ways. First, approximately 15% of its assets were 
shifted from GNMA mortgage-backed bonds with 30 year maturities to GNMA 
securities with 15 year maturities. Second, the Fund's holdings of 
Treasury and other non-mortgage-backed securities were reduced from 
18% of assets to 5%, and their average maturity was decreased. Third, 
the Fund increased its GNMA mortgage-backed holdings from 82% of assets 
to 91%, and cash and cash-equivalents were increased from 0% to 4% of 
assets. These actions help to reduce the Fund's sensitivity to changes 
in interest rates, thereby limiting losses as interest rates climbed.

Investors who buy bond funds -- whether for income or total return -- 
should be aware that the value of their investment fluctuates as 
interest rates change. For example, a 100 basis point (or 1%) increase 
in yield on a ten year bond results in roughly a 7% decrease in that 
bond's price. In each of the last four years and the first half of 1996, 
ten year Treasury bond yields have moved more than 100 basis points. In 
addition, the value of a fund can fluctuate based on changes in the 
credit quality of the bonds which it holds. Investors should be aware of 
these risks and recognize that successful investing generally requires a 
long-term commitment to the market.

Looking forward, inflation shows few signs of accelerating, despite the 
market's concern. In addition, the pace of economic growth is likely to 
slow during the second half of the year. A combination of stable 
inflation and moderate growth should provide a comfortable environment 
for investors throughout the remainder of 1996.

As always, we appreciate the opportunity to serve your investment needs.

Sincerely,

/S/Clark D. Wagner

Clark D. Wagner
Chief Investment Officer
and Portfolio Manager

July 8, 1996



<TABLE>
<CAPTION>

Portfolio of Investments
FIRST INVESTORS GOVERNMENT FUND, INC.
June 30, 1996
- ----------------------------------------------------------------------------------------------------------------
Principal
  Amount   Security                                                                                        Value
- ----------------------------------------------------------------------------------------------------------------
 <S>      <C>                                                                               <C>     <C>
           MORTGAGE-BACKED CERTIFICATES--90.4%
           Government National Mortgage Association I Program--68.3%
  $27,493M 6 1/2%, 5/15/2008-8/15/2010                                                               $26,838,024
   20,689M 7%, 4/15/2023-6/15/2024                                                                    19,981,303
   27,958M 7 1/2%, 9/15/2021-8/15/2024                                                                27,729,192
   18,171M 8%, 6/15/2022-9/15/2023                                                                    18,433,211
   39,211M 9%, 1/15/2016-3/15/2021                                                                    41,573,855
- ----------------------------------------------------------------------------------------------------------------
                                                                                                     134,555,585
- ----------------------------------------------------------------------------------------------------------------
           Government National Mortgage Association II Program--16.2%
   20,052M 7%, 12/20/2025-1/20/2026                                                                   19,118,938
   13,044M 7 1/2%, 4/20/2023-6/20/2026                                                                 12,812,65
- ----------------------------------------------------------------------------------------------------------------
                                                                                                      31,931,596
- ----------------------------------------------------------------------------------------------------------------
           Government National Mortgage Association 223(f)/(a) Program--5.9%
    5,691M 7%, 1/15/2026                                                                               5,467,976
    2,354M 7%, 12/15/2030                                                                              2,257,047
    4,079M 7%, 2/15/2031                                                                               3,911,608
- ----------------------------------------------------------------------------------------------------------------
                                                                                                      11,636,631
- ----------------------------------------------------------------------------------------------------------------
           Total Value of Mortgage-Backed Certificates (cost $181,080,044)                           178,123,812
- ----------------------------------------------------------------------------------------------------------------
           UNITED STATES AGENCY BONDS--5.3%
   10,000M Federal National Mortgage Association, 8 1/2%, 2/1/2005 (cost $10,389,973)                 10,463,230
- ----------------------------------------------------------------------------------------------------------------
           SHORT-TERM CORPORATE NOTES--.9%
    1,700M Paccar Financial Corp., 5 1/2%, 7/1/1996 (cost $1,700,000)                                  1,700,000
- ----------------------------------------------------------------------------------------------------------------
           Total Value of Investments (cost $193,170,017)                                  96.60%    190,287,042
           Other Assets, Less Liabilities                                                     3.4      6,603,587
- ----------------------------------------------------------------------------------------------------------------
Net Assets                                                                                100.00%   $196,890,629
================================================================================================================

See notes to financial statements

</TABLE>



<TABLE>
<CAPTION>

Statement of Assets and Liabilities
FIRST INVESTORS GOVERNMENT FUND, INC.
June 30, 1996
- --------------------------------------------------------------------------------------------------------------
<S>                                                                            <C>               <C>
Assets
Investments in securities, at value (identified cost $193,170,017)
(Note 1A)                                                                                         $190,287,042
Cash                                                                                                    83,974
Receivables:
Investment securities sold                                                       $6,754,999
Interest                                                                          1,527,433
Capital shares sold                                                                  57,193          8,339,625
                                                                               ------------
Other assets                                                                                            27,482
                                                                                                  ------------
Total Assets                                                                                       198,738,123
Liabilities
Payables:
Dividend payable July 20, 1996                                                      964,421
Capital shares redeemed                                                             657,253
Accrued advisory fee                                                                123,172
Accrued expenses                                                                    102,648
                                                                               ------------
Total Liabilities                                                                                    1,847,494
                                                                                                  ------------
Net Assets (Note 4):
Class A (17,959,379 shares outstanding)                                         195,686,110
Class B (110,603 shares outstanding)                                              1,204,519       $196,890,629
                                                                               ------------       ============

Net Assets Consist of:
Capital paid in                                                                                   $221,016,660
Undistributed net investment income                                                                    351,969
Accumulated net realized loss on investment transactions                                           (21,595,025)
Net unrealized depreciation in value of investments                                                 (2,882,975)
                                                                                                  ------------
Total                                                                                             $196,890,629
                                                                                                  ============

Net asset value and redemption price per share-Class A                                                  $10.90
                                                                                                        ======

Maximum offering price per share-Class A ($10.90/.9375)*                                                $11.63
                                                                                                        ======

Net asset value and offering price per share-Class B                                                    $10.89
                                                                                                        ======

On purchases of $25,000 or more, the sales charge is reduced.

See notes to financial statements

</TABLE>



<TABLE>
<CAPTION>

Statement of Operations
FIRST INVESTORS GOVERNMENT FUND, INC.
Six Months Ended June 30, 1996
- --------------------------------------------------------------------------------------------------------------
<S>                                                                             <C>                <C>
Investment Income
Interest income                                                                                     $7,770,004
Expenses (Notes 1 and 3):
Advisory fee                                                                     $1,026,101
Distribution plan expenses--Class A                                                 309,004
Distribution plan expenses--Class B                                                   5,604
Shareholder servicing costs                                                         231,028
Custodian fees                                                                       26,971
Reports and notices to shareholders                                                  26,455
Professional fees                                                                    24,198
Other expenses                                                                       28,390
                                                                                 ----------
Total expenses                                                                    1,677,751
Less: Portion of advisory fee waived                                               (249,390)
Custodian fees paid indirectly                                                       (2,145)
                                                                                 ----------
Net expenses                                                                                         1,426,216
                                                                                                    ----------
Net investment income                                                                                6,343,788
Realized and Unrealized Gain (Loss) on Investments (Note 2):
Net realized loss on investments                                                     (1,601)
Net unrealized depreciation of investments                                       (8,243,993)
                                                                                 ----------
Net loss on investments                                                                             (8,245,594)
                                                                                                    ----------
Net Decrease in Net Assets Resulting from Operations                                               ($1,901,806)
                                                                                                   ===========

See notes to financial statements

</TABLE>



<TABLE>
<CAPTION>

Statement of Changes in Net Assets
FIRST INVESTORS GOVERNMENT FUND, INC.

- --------------------------------------------------------------------------------------------------------------
                                                                           Six Months Ended         Year Ended
                                                                              June 30, 1996  December 31, 1995
- --------------------------------------------------------------------------------------------------------------
<S>                                                                             <C>              <C>
Increase (Decrease) in Net Assets from Operations
Net investment income                                                            $6,343,788        $14,247,434
Net realized gain (loss) on investments                                              (1,601)         3,588,431
Net unrealized appreciation (depreciation) of investments                        (8,243,993)        12,889,600
                                                                              -------------      -------------
Net increase (decrease) in net assets resulting from operations                  (1,901,806)        30,725,465
                                                                              -------------      -------------
Dividends to Shareholders from:
Net investment income--Class A                                                   (5,963,193)       (14,373,435)
Net investment income--Class B                                                      (28,626)           (25,685)
                                                                              -------------      -------------
Total dividends                                                                  (5,991,819)       (14,399,120)
                                                                              -------------      -------------
Capital Share Transactions (a)
Class A:
Proceeds from shares sold                                                         5,788,302         11,009,028
Value of dividends reinvested                                                     4,101,703         11,800,037
Cost of shares redeemed                                                         (23,441,760)       (41,080,675)
                                                                              -------------      -------------
                                                                                (13,551,755)       (18,271,610)
                                                                              -------------      -------------
Class B:
Proceeds from shares sold                                                           439,441            893,299
Value of dividends reinvested                                                        20,985             23,146
Cost of shares redeemed                                                            (112,294)           (44,249)
                                                                              -------------      -------------
                                                                                    348,132            872,196
                                                                              -------------      -------------
Net decrease from capital share transactions                                    (13,203,623)       (17,399,414)
                                                                              -------------      -------------
Net decrease in net assets                                                      (21,097,248)        (1,073,069)
Net Assets
Beginning of period                                                             217,987,877        219,060,946
                                                                              -------------      -------------
End of period (including undistributed net investment income of
$351,969 and $0, respectively)                                                 $196,890,629       $217,987,877
                                                                              -------------      -------------

 (a)Capital shares issued and redeemed
Class A:
Sold                                                                                523,066          1,008,037
Issued for dividends reinvested                                                     370,694          1,073,060
Redeemed                                                                         (2,122,872)        (3,752,419)
                                                                              -------------      -------------
Net decrease in Class A shares outstanding                                       (1,229,112)        (1,671,322)
                                                                              =============      =============

Class B:
Sold                                                                                 39,489             81,380
Issued for dividends reinvested                                                       1,901              2,080
Redeemed                                                                            (10,233)            (4,014)
                                                                              -------------      -------------
Net increase in Class B shares outstanding                                           31,157             79,446
                                                                              =============      =============

See notes to financial statements

</TABLE>



Notes to Financial Statements
FIRST INVESTORS GOVERNMENT FUND, INC.

1. Significant Accounting Policies -- The Fund is registered under the 
Investment Company Act of 1940 (the "1940 Act") as a diversified, open-
end management investment company. The Fund's objective is to achieve a 
significant level of current income which is consistent with security 
and liquidity of principal.

A. Security Valuation -- U.S. Government obligations are traded 
primarily in the over-the-counter markets. Such securities are valued at 
the mean between the last bid and asked prices as furnished by a pricing 
service. The pricing service provides evaluations based on a mortgage-
backed evaluation model which incorporates issuer type, coupon, 
maturity, projected prepayments as well as the current U.S. Treasury 
curve and yield spreads. Securities for which market quotations are not 
readily available are valued on a consistent basis at fair value as 
determined in good faith by or under the direction of the Fund's 
officers in a manner specifically authorized by the Board of Directors.

B. Federal Income Taxes -- No provision has been made for federal income 
taxes on net income or capital gains since it is the policy of the Fund 
to continue to comply with the special provisions of the Internal 
Revenue Code applicable to investment companies, and to make sufficient 
distributions of income and capital gains (in excess of any available 
capital loss carryovers) to relieve it from all, or substantially all, 
federal income taxes. At June 30, 1996, the Fund had a capital loss 
carryover of $21,519,052 expiring in the year 2002.

C. Distributions to Shareholders -- Dividends to shareholders from net 
investment income are declared daily and paid monthly. Income dividends 
and capital gain distributions are determined in accordance with income 
tax regulations which may differ from generally accepted accounting 
principles. These differences are primarily due to differing treatments 
for mortgage-backed securities, capital loss carryforwards and post 
October losses.

D. Other -- Security transactions are accounted for on the date the 
securities are purchased or sold. Cost is determined, and gains and 
losses are based, on the identified cost basis for both financial 
statement and federal income tax purposes. Interest income and estimated 
expenses are accrued daily. The Fund's Custodian has provided credits in 
the amount of $2,145 against custodian charges based on the uninvested 
cash balances of the Fund.

2. Securities Transactions -- For the six months ended June 30, 1996, 
purchases and sales (including pay-downs) of securities other than 
short-term U.S. Government obligations and corporate notes, aggregated 
$132,403,427 and $151,696,273, respectively.

At June 30,1996, the cost of investments for federal income tax purposes 
was $193,170,017. Accumulated net unrealized depreciation on investments 
was $2,882,975 consisting of $1,071,654 gross unrealized appreciation 
and $3,954,629 gross unrealized depreciation.

3. Advisory Fee and Other Transactions With Affiliates -- Certain 
officers and directors of the Fund are officers and directors of its 
investment adviser, First Investors Management Company, Inc.("FIMCO"), 
its underwriter, First Investors Corporation ("FIC"), its transfer 
agent, Administrative Data Management Corp. ("ADM") and/or First 
Financial Savings Bank, S.L.A. ("FFS"), custodian of the Fund's 
Individual Retirement Accounts. Officers and directors of the Fund 
received no remuneration from the Fund for serving in such capacities. 
Their remuneration (together with certain other expenses of the Fund) is 
paid by FIMCO or FIC.

The Investment Advisory Agreement provides as compensation to FIMCO an 
annual fee, payable monthly, at the rate of 1% on the first $200 million 
of the Fund's average daily net assets, .75% on the next $300 million, 
declining by .03% on each $250 million thereafter, down to .66% on 
average daily net assets over $1 billion. Since July 1987, FIMCO has 
voluntarily waived .25% of the fee on the first $200 million of the 
Fund's average daily net assets. For the six months ended June 30, 1996, 
this reduction amounted to $249,390.

Pursuant to certain state regulations, FIMCO has agreed to reimburse the 
Fund if and to the extent that the Fund's aggregate operating expenses, 
including the advisory fee but generally excluding interest, taxes, 
brokerage commissions and extraordinary expenses, exceed any limitation 
on expenses applicable to the Fund in those states (unless waivers of 
such limitations have been obtained). The amount of any such 
reimbursement is limited to the yearly advisory fee. For the six months 
ended June 30, 1996, no reimbursement was required pursuant to these 
provisions.

For the six months ended June 30, 1996, FIC, as underwriter, received 
$162,192 in commissions after allowing $6,204 to other dealers. 
Shareholder servicing costs included $131,628 in transfer agent fees 
paid to ADM, and $60,976 in custodian fees paid to FFS.

Pursuant to a Distribution Plan adopted under Rule 12b-1 of the 1940 
Act, the Fund is authorized to pay FIC a fee equal to .30% of the 
average net assets of the Class A shares and 1% of the average net 
assets of the Class B shares on an annualized basis each year, payable 
monthly. The fee consists of a distribution fee and a service fee. The 
service fee is paid for the ongoing servicing of clients who are 
shareholders of the Fund.

4. Capital -- The Fund sells two classes of shares, Class A and Class B, 
each with a public offering price that reflects different sales charges 
and expense levels. Class A shares are sold with an initial sales charge 
of up to 6.25% of the amount invested and together with the Class B 
shares are subject to 12b-1 fees as described in Note 3. Class B shares 
are sold without an initial sales charge, but are generally subject to a 
contingent deferred sales charge which declines in steps from 4% to 0% 
over a six-year period. Class B shares automatically convert into Class 
A shares after eight years. Realized and unrealized gains or losses, 
investment income and expenses (other than 12b-1 fees and certain other 
class expenses) are allocated daily to each class of shares based upon 
the relative proportion of net assets of each class. Of the 
1,000,000,000 shares originally authorized, the Fund has designated 
500,000,000 shares as Class A and 500,000,000 shares as Class B.



<TABLE>
<CAPTION>

Financial Highlights
FIRST INVESTORS GOVERNMENT FUND, INC.

The following table sets forth the per share operating performance for a share of capital stock outstanding, 
total return, ratios to average net assets and other supplemental data for each period indicated.
- -------------------------------------------------------------------------------------------------------------------------
                                                                       Class A                               Class B
                                             --------------------------------------------------          ----------------
                                             1/1/96              Year Ended December                     1/1/96   1/12/95*
                                                 to    ----------------------------------------              to        to
                                            6/30/96      1995      1994      1993      1992      1991   6/30/96  12/31/95
- -------------------------------------------------------------------------------------------------------------------------
<S>                                         <C>       <C>       <C>       <C>       <C>       <C>       <C>       <C>
Per Share Data
- --------------
Net Asset Value, Beginning of Period         $11.31    $10.50    $11.55    $11.83    $11.92    $11.08    $11.31    $10.52
                                             ------    ------    ------    ------    ------    ------    ------    ------
Income from Investment Operations
Net investment income                           .34       .71       .69       .72       .76       .84       .30       .63
Net realized and unrealized gain (loss) on
investments                                    (.43)      .82     (1.06)     (.26)     (.09)      .83      (.44)      .80
                                             ------    ------    ------    ------    ------    ------    ------    ------
Total from Investment Operations               (.09)     1.53      (.37)      .46       .67      1.67      (.14)     1.43
                                             ------    ------    ------    ------    ------    ------    ------    ------
Less Distributions from:
Net investment income                           .32       .72       .68       .74       .76       .79       .28       .64
Net realized gains                               --        --        --        --        --       .04        --        --
                                             ------    ------    ------    ------    ------    ------    ------    ------
Total Distributions                             .32       .72       .68       .74       .76       .83       .28       .64
                                             ------    ------    ------    ------    ------    ------    ------    ------
Net Asset Value, End of Period               $10.90    $11.31    $10.50    $11.55    $11.83    $11.92    $10.89    $11.31
                                             ======    ======    ======    ======    ======    ======    ======    ======

Total Return (%)+                              (.80)    14.98     (3.22)     3.99      5.90     15.74     (1.23)    13.94
- ------------
Ratios/Supplemental Data
- ------------------------
Net Assets, End of Period (in millions)        $196      $217      $219      $288      $306      $316        $1        $1
Ratio to Average Net Assets:(%)++
Expenses                                       1.38(a)   1.38      1.40      1.32      1.33      1.34      2.15(a)   2.13(a)
Net investment income                          6.13(a)   6.50      6.31      6.14      6.45      7.43      5.36(a)   5.75(a)
Ratio to Average Net Assets Before
Expenses Waived (Note 3):(%)
Expenses                                       1.62(a)   1.61      1.60      1.48      1.49      1.50      2.40(a)   2.37(a)
Net investment income                          5.89(a)   6.27      6.11      5.98      6.29      7.27      5.11(a)   5.51(a)
Portfolio Turnover Rate(%)                       66       163       260       584       330       117        66       163
 *Date shares first offered
 +Calculated without sales charge
 ++Net after fees waived (Note 3)
 (a)Annualized

See notes to financial statements

</TABLE>



Independent Auditor's Report


To the Shareholders and Board of Directors of 
First Investors Government Fund, Inc.

We have audited the accompanying statement of assets and liabilities of 
First Investors Government Fund, Inc., including the portfolio of 
investments, as of June 30, 1996, and the related statement of 
operations for the six months then ended, the statement of changes in 
net assets for the six months ended June 30, 1996 and the year ended 
December 31, 1995 and financial highlights for each of the periods 
presented. These financial statements and financial highlights are the 
responsibility of the Fund's management. Our responsibility is to 
express an opinion on these financial statements and financial 
highlights based on our audits.

We conducted our audits in accordance with generally accepted auditing 
standards. Those standards require that we plan and perform the audit to 
obtain reasonable assurance about whether the financial statements and 
financial highlights are free of material misstatement. An audit 
includes examining, on a test basis, evidence supporting the amounts and 
disclosures in the financial statements. Our procedures included 
confirmation of securities owned as of June 30, 1996, by correspondence 
with the custodian. An audit also includes assessing the accounting 
principles used and significant estimates made by management, as well as 
evaluating the overall financial statement presentation. We believe that 
our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights 
referred to above present fairly, in all material respects, the 
financial position of First Investors Government Fund, Inc. at June 30, 
1996, and the results of its operations, changes in its net assets and 
financial highlights for the periods presented, in conformity with 
generally accepted accounting principles.

                                                   Tait, Weller & Baker

Philadelphia, Pennsylvania
July 31, 1996



FIRST INVESTORS GOVERNMENT FUND, INC.


Directors
- -----------------------------------------------
James J. Coy

Roger L. Grayson

Glenn O. Head

Kathryn S. Head

Rex R. Reed

Herbert Rubinstein

James M. Srygley

John T. Sullivan

Robert F. Wentworth


Officers
- -----------------------------------------------
Glenn O. Head
President

Concetta Durso
Vice President and Secretary

Joseph I. Benedek
Treasurer

Carol Lerner Brown
Assistant Secretary

Gregory R. Kingston
Assistant Treasurer

Mark S. Spencer
Assistant Treasurer



FIRST INVESTORS GOVERNMENT FUND, INC.

Shareholder Information
- -----------------------------------------------
Investment Adviser
First Investors
Management Company, Inc.
95 Wall Street
New York, NY 10005

Underwriter
First Investors Corporation
95 Wall Street
New York, NY 10005

Custodian
The Bank of New York
48 Wall Street
New York, NY 10286

Transfer Agent
Administrative Data
Management Corp.
581 Main Street
Woodbridge, NJ 07095-1198

Legal Counsel
Kirkpatrick & Lockhart LLP
1800 Massachusetts Avenue, N.W.
Washington, DC 20036

Auditors
Tait, Weller & Baker
Two Penn Center Plaza
Philadelphia, PA 19102

It is the Fund's practice to mail only one copy of its annual and semi-
annual reports to any address at which more than one shareholder with 
the same last name has indicated that mail is to be delivered. 
Additional copies of the reports will be mailed if requested by any 
shareholder in writing by or calling 800-423-4026. The Fund will ensure 
that separate reports are sent to any shareholder who subsequently 
changes his or her mailing address.

This report is authorized for distribution only to existing 
shareholders, and, if given to prospective shareholders, must be 
accompanied or preceded by the Fund's prospectus.



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