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<PAGE> PAGE 6
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<PAGE> PAGE 8
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 19
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063 B000400 8.8
064 A000400 N
064 B000400 Y
065 000400 N
066 A000400 N
067 000400 N
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069 000400 N
070 A010400 Y
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<PAGE> PAGE 21
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 Y
070 K010400 N
070 K020400 N
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 Y
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
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070 R020400 N
071 A000400 35530
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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050 000500 N
051 000500 N
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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SIGNATURE PETER SUTTON
TITLE CONTROLLER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000795307
<NAME> SUNAMERICA INCOME FUNDS
<SERIES>
<NUMBER> 001
<NAME> SUNAMERICA HIGH INCOME FUND CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
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[AVG-DEBT-OUTSTANDING] 0<F1>
[AVG-DEBT-PER-SHARE] 0<F1>
<FN>
<F1>INFORMATION GIVEN PERTAINS TO THE SUNAMERICA HIGH INCOME FUND AS A WHOLE
<F2>INFORMATION PERTAINS TO THE SUNAMERICA HIGH INCOME FUND CLASS A.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000795307
<NAME> SUNAMERICA INCOME FUNDS
<SERIES>
<NUMBER> 001
<NAME> SUNAMERICA HIGH INCOME FUND CLASS B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1999<F1>
<PERIOD-START> APR-01-1998<F1>
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<ACCUM-APPREC-OR-DEPREC> (16,502,346)<F1>
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<PER-SHARE-NAV-BEGIN> 7.79<F2>
<PER-SHARE-NII> 0.62<F2>
<PER-SHARE-GAIN-APPREC> (1.13)<F2>
<PER-SHARE-DIVIDEND> (0.64)<F2>
<PER-SHARE-DISTRIBUTIONS> 0<F2>
<RETURNS-OF-CAPITAL> 0<F2>
<PER-SHARE-NAV-END> 6.64<F2>
<EXPENSE-RATIO> 2.13<F2>
[AVG-DEBT-OUTSTANDING] 0<F1>
[AVG-DEBT-PER-SHARE] 0<F1>
<FN>
<F1>INFORMATION GIVEN PERTAINS TO THE SUNAMERICA HIGH INCOME FUND AS A WHOLE
<F2>INFORMATION PERTAINS TO THE SUNAMERICA HIGH INCOME FUND CLASS B.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000795307
<NAME> SUNAMERICA INCOME FUNDS
<SERIES>
<NUMBER> 001
<NAME> SUNAMERICA HIGH INCOME FUND CLASS II
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1999<F1>
<PERIOD-START> APR-01-1998<F1>
<PERIOD-END> MAR-31-1999<F1>
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[AVG-DEBT-OUTSTANDING] 0<F1>
[AVG-DEBT-PER-SHARE] 0<F1>
<FN>
<F1>INFORMATION GIVEN PERTAINS TO THE SUNAMERICA HIGH INCOME FUND AS A WHOLE
<F2>INFORMATION PERTAINS TO THE SUNAMERICA HIGH INCOME FUND CLASS II.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000795307
<NAME> SUNAMERICA INCOME FUNDS
<SERIES>
<NUMBER> 002
<NAME> SUNAMERICA U.S. GOVERNMENT SECURITIES FUND CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1999<F1>
<PERIOD-START> APR-01-1998<F1>
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<NET-CHANGE-IN-ASSETS> (56,190,680)<F1>
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<PER-SHARE-NAV-BEGIN> 8.66<F2>
<PER-SHARE-NII> 0.49<F2>
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<EXPENSE-RATIO> 1.50<F2>
[AVG-DEBT-OUTSTANDING] 0<F1>
[AVG-DEBT-PER-SHARE] 0<F1>
<FN>
<F1>INFORMATION GIVEN PERTAINS TO THE SUNAMERICA U.S. GOVERNMENT SECURITIES FUND AS A WHOLE.
<F2>INFORMATION GIVEN PERTAINS TO THE SUNAMERICA U.S. GOVERNMENT SECURITIES FUND
CLASS A.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000795307
<NAME> SUNAMERICA INCOME FUNDS
<SERIES>
<NUMBER> 002
<NAME> SUNAMERICA U.S. GOVERNMENT SECURITIES FUND CLASS B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1999<F1>
<PERIOD-START> APR-01-1998<F1>
<PERIOD-END> MAR-31-1999<F1>
<INVESTMENTS-AT-COST> 264,554,567<F1>
<INVESTMENTS-AT-VALUE> 261,628,350<F1>
<RECEIVABLES> 8,206,182<F1>
<ASSETS-OTHER> 24,885<F1>
<OTHER-ITEMS-ASSETS> 303<F1>
<TOTAL-ASSETS> 269,859,720<F1>
<PAYABLE-FOR-SECURITIES> 5,728,376<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 14,876,082<F1>
<TOTAL-LIABILITIES> 20,604,458<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 275,347,528<F1>
<SHARES-COMMON-STOCK> 13,118,594<F2>
<SHARES-COMMON-PRIOR> 24,004,195<F2>
<ACCUMULATED-NII-CURRENT> 14,242<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 0<F1>
<OVERDISTRIBUTION-GAINS> 23,180,291<F1>
<ACCUM-APPREC-OR-DEPREC> (2,926,217)<F1>
<NET-ASSETS> 249,255,262<F1>
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 20,159,051<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (5,290,724)<F1>
<NET-INVESTMENT-INCOME> 14,868,327<F1>
<REALIZED-GAINS-CURRENT> 4,741,333<F1>
<APPREC-INCREASE-CURRENT> (6,773,852)<F1>
<NET-CHANGE-FROM-OPS> 12,835,808<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (7,317,082)<F2>
<DISTRIBUTIONS-OF-GAINS> 0<F2>
<DISTRIBUTIONS-OTHER> 0<F2>
<NUMBER-OF-SHARES-SOLD> 1,305,435<F2>
<NUMBER-OF-SHARES-REDEEMED> 12,730,947<F2>
<SHARES-REINVESTED> 539,911<F2>
<NET-CHANGE-IN-ASSETS> (56,190,680)<F1>
<ACCUMULATED-NII-PRIOR> 0<F1>
<ACCUMULATED-GAINS-PRIOR> 0<F1>
<OVERDISTRIB-NII-PRIOR> 60,738<F1>
<OVERDIST-NET-GAINS-PRIOR> 30,136,632<F1>
<GROSS-ADVISORY-FEES> 2,064,005<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 5,291,764<F1>
<AVERAGE-NET-ASSETS> 170,902,740<F2>
<PER-SHARE-NAV-BEGIN> 8.66<F2>
<PER-SHARE-NII> 0.45<F2>
<PER-SHARE-GAIN-APPREC> (0.09)<F2>
<PER-SHARE-DIVIDEND> (0.37)<F2>
<PER-SHARE-DISTRIBUTIONS> 0<F2>
<RETURNS-OF-CAPITAL> 0<F2>
<PER-SHARE-NAV-END> 8.65<F2>
<EXPENSE-RATIO> 2.15<F2>
[AVG-DEBT-OUTSTANDING] 0<F1>
[AVG-DEBT-PER-SHARE] 0<F1>
<FN>
<F1>INFORMATION GIVEN PERTAINS TO THE SUNAMERICA U.S. GOVERNMENT SECURITIES FUND AS A WHOLE.
<F2>INFORMATION GIVEN PERTAINS TO THE SUNAMERICA U.S. GOVERNMENT SECURITIES FUND
CLASS B.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000795307
<NAME> SUNAMERICA INCOME FUNDS
<SERIES>
<NUMBER> 003
<NAME> SUNAMERICA FEDERAL SECURITIES FUND CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1999<F1>
<PERIOD-START> APR-01-1998<F1>
<PERIOD-END> MAR-31-1999<F1>
<INVESTMENTS-AT-COST> 64,343,471<F1>
<INVESTMENTS-AT-VALUE> 64,278,959<F1>
<RECEIVABLES> 812,032<F1>
<ASSETS-OTHER> 27,654<F1>
<OTHER-ITEMS-ASSETS> 1,008<F1>
<TOTAL-ASSETS> 65,119,653<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 20,604,458<F1>
<TOTAL-LIABILITIES> 20,604,458<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 62,225,217<F1>
<SHARES-COMMON-STOCK> 3,351,441<F2>
<SHARES-COMMON-PRIOR> 2,868,465<F2>
<ACCUMULATED-NII-CURRENT> 0<F1>
<OVERDISTRIBUTION-NII> 122,329<F1>
<ACCUMULATED-NET-GAINS> 0<F1>
<OVERDISTRIBUTION-GAINS> 168,394<F1>
<ACCUM-APPREC-OR-DEPREC> (64,512)<F1>
<NET-ASSETS> 61,869,982<F1>
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 3,581,218<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (906,966)<F1>
<NET-INVESTMENT-INCOME> 2,674,252<F1>
<REALIZED-GAINS-CURRENT> 1,275,859<F1>
<APPREC-INCREASE-CURRENT> (914,255)<F1>
<NET-CHANGE-FROM-OPS> 3,035,856<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (1,555,972)<F2>
<DISTRIBUTIONS-OF-GAINS> (1,486,651)<F2>
<DISTRIBUTIONS-OTHER> 0<F2>
<NUMBER-OF-SHARES-SOLD> 973,843<F2>
<NUMBER-OF-SHARES-REDEEMED> 712,743<F2>
<SHARES-REINVESTED> 222,232<F2>
<NET-CHANGE-IN-ASSETS> 13,315,452<F1>
<ACCUMULATED-NII-PRIOR> 0<F1>
<ACCUMULATED-GAINS-PRIOR> 780,177<F1>
<OVERDISTRIB-NII-PRIOR> 75,487<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 281,673<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 907,756<F1>
<AVERAGE-NET-ASSETS> 32,786,473<F2>
<PER-SHARE-NAV-BEGIN> 11.03<F2>
<PER-SHARE-NII> 0.57<F2>
<PER-SHARE-GAIN-APPREC> 0.11<F2>
<PER-SHARE-DIVIDEND> (0.53)<F2>
<PER-SHARE-DISTRIBUTIONS> (0.50)<F2>
<RETURNS-OF-CAPITAL> 0<F2>
<PER-SHARE-NAV-END> 10.68<F2>
<EXPENSE-RATIO> 1.41<F2>
[AVG-DEBT-OUTSTANDING] 0<F1>
[AVG-DEBT-PER-SHARE] 0<F1>
<FN>
<F1>INFORMATION GIVEN PERTAINS TO THE SUNAMERICA FEDERAL SECURITIES FUND AS A
WHOLE.
<F2>INFORMATION GIVEN PERTAINS TO THE SUNAMERICA FEDERAL SECURITIES FUND
CLASS A.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000795307
<NAME> SUNAMERICA INCOME FUNDS
<SERIES>
<NUMBER> 003
<NAME> SUNAMERICA FEDERAL SECURITIES FUND CLASS B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1999<F1>
<PERIOD-START> APR-01-1998<F1>
<PERIOD-END> MAR-31-1999<F1>
<INVESTMENTS-AT-COST> 64,343,471<F1>
<INVESTMENTS-AT-VALUE> 64,278,959<F1>
<RECEIVABLES> 812,032<F1>
<ASSETS-OTHER> 27,654<F1>
<OTHER-ITEMS-ASSETS> 1,008<F1>
<TOTAL-ASSETS> 65,119,653<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 20,604,458<F1>
<TOTAL-LIABILITIES> 20,604,458<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 62,225,217<F1>
<SHARES-COMMON-STOCK> 2,432,179<F2>
<SHARES-COMMON-PRIOR> 1,703,670<F2>
<ACCUMULATED-NII-CURRENT> 0<F1>
<OVERDISTRIBUTION-NII> 122,329<F1>
<ACCUMULATED-NET-GAINS> 0<F1>
<OVERDISTRIBUTION-GAINS> 168,394<F1>
<ACCUM-APPREC-OR-DEPREC> (64,512)<F1>
<NET-ASSETS> 61,869,982<F1>
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 3,581,218<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (906,966)<F1>
<NET-INVESTMENT-INCOME> 2,674,252<F1>
<REALIZED-GAINS-CURRENT> 1,275,859<F1>
<APPREC-INCREASE-CURRENT> (914,255)<F1>
<NET-CHANGE-FROM-OPS> 3,035,856<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (879,578)<F2>
<DISTRIBUTIONS-OF-GAINS> (1,023,323)<F2>
<DISTRIBUTIONS-OTHER> 0<F2>
<NUMBER-OF-SHARES-SOLD> 1,277,925<F2>
<NUMBER-OF-SHARES-REDEEMED> 693,466<F2>
<SHARES-REINVESTED> 144,050<F2>
<NET-CHANGE-IN-ASSETS> 13,315,452<F1>
<ACCUMULATED-NII-PRIOR> 0<F1>
<ACCUMULATED-GAINS-PRIOR> 780,177<F1>
<OVERDISTRIB-NII-PRIOR> 75,487<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 281,673<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 907,756<F1>
<AVERAGE-NET-ASSETS> 21,474,611<F2>
<PER-SHARE-NAV-BEGIN> 11.06<F2>
<PER-SHARE-NII> 0.50<F2>
<PER-SHARE-GAIN-APPREC> 0.12<F2>
<PER-SHARE-DIVIDEND> (0.46)<F2>
<PER-SHARE-DISTRIBUTIONS> (0.50)<F2>
<RETURNS-OF-CAPITAL> 0<F2>
<PER-SHARE-NAV-END> 10.72<F2>
<EXPENSE-RATIO> 2.07<F2>
[AVG-DEBT-OUTSTANDING] 0<F1>
[AVG-DEBT-PER-SHARE] 0<F1>
<FN>
<F1>INFORMATION GIVEN PERTAINS TO THE SUNAMERICA FEDERAL SECURITIES FUND AS A
WHOLE.
<F2>INFORMATION GIVEN PERTAINS TO THE SUNAMERICA FEDERAL SECURITIES FUND
CLASS B.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000795307
<NAME> SUNAMERICA INCOME FUNDS
<SERIES>
<NUMBER> 004
<NAME> SUNAMERICA DIVERSIFIED INCOME FUND CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1999<F1>
<PERIOD-START> APR-01-1998<F1>
<PERIOD-END> MAR-31-1999<F1>
<INVESTMENTS-AT-COST> 74,278,886<F1>
<INVESTMENTS-AT-VALUE> 63,545,452<F1>
<RECEIVABLES> 2,090,463<F1>
<ASSETS-OTHER> 2,400<F1>
<OTHER-ITEMS-ASSETS> 621<F1>
<TOTAL-ASSETS> 65,638,936<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 539,609<F1>
<TOTAL-LIABILITIES> 539,609<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 103,364,871<F1>
<SHARES-COMMON-STOCK> 7,369,375<F2>
<SHARES-COMMON-PRIOR> 5,449,294<F2>
<ACCUMULATED-NII-CURRENT> 28,947<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 0<F1>
<OVERDISTRIBUTION-GAINS> 27,561,057<F1>
<ACCUM-APPREC-OR-DEPREC> (10,733,434)<F1>
<NET-ASSETS> 65,099,327<F1>
<DIVIDEND-INCOME> 10,997<F1>
<INTEREST-INCOME> 8,603,674<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1,430,292)<F1>
<NET-INVESTMENT-INCOME> 7,184,379<F1>
<REALIZED-GAINS-CURRENT> (2,844,122)<F1>
<APPREC-INCREASE-CURRENT> (12,524,107)<F1>
<NET-CHANGE-FROM-OPS> (8,183,850)<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (2,584,052)<F2>
<DISTRIBUTIONS-OF-GAINS> 0<F2>
<DISTRIBUTIONS-OTHER> 0<F2>
<NUMBER-OF-SHARES-SOLD> 3,989,403<F2>
<NUMBER-OF-SHARES-REDEEMED> 2,435,211<F2>
<SHARES-REINVESTED> 365,889<F2>
<NET-CHANGE-IN-ASSETS> (23,814,666)<F1>
<ACCUMULATED-NII-PRIOR> 191,746<F1>
<ACCUMULATED-GAINS-PRIOR> 0<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 24,716,935<F1>
<GROSS-ADVISORY-FEES> 495,242<F1>
<INTEREST-EXPENSE> 1,902<F1>
<GROSS-EXPENSE> 1,432,025<F1>
<AVERAGE-NET-ASSETS> 25,456,937<F2>
<PER-SHARE-NAV-BEGIN> 4.68<F2>
<PER-SHARE-NII> 0.40<F2>
<PER-SHARE-GAIN-APPREC> (0.80)<F2>
<PER-SHARE-DIVIDEND> (0.42)<F2>
<PER-SHARE-DISTRIBUTIONS> 0<F2>
<RETURNS-OF-CAPITAL> 0<F2>
<PER-SHARE-NAV-END> 3.86<F2>
<EXPENSE-RATIO> 1.46<F2>
[AVG-DEBT-OUTSTANDING] 0<F1>
[AVG-DEBT-PER-SHARE] 0<F1>
<FN>
<F1>INFORMATION GIVEN PERTAINS TO THE SUNAMERICA DIVERSIFIED INCOME FUND AS A
WHOLE.
<F2>INFORMATION GIVEN PERTAINS TO THE SUNAMERICA DIVERSIFIED INCOME FUND
CLASS A.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000795307
<NAME> SUNAMERICA INCOME FUNDS
<SERIES>
<NUMBER> 004
<NAME> SUNAMERICA DIVERSIFIED INCOME FUND CLASS B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1999<F1>
<PERIOD-START> APR-01-1998<F1>
<PERIOD-END> MAR-31-1999<F1>
<INVESTMENTS-AT-COST> 74,278,886<F1>
<INVESTMENTS-AT-VALUE> 63,545,452<F1>
<RECEIVABLES> 2,090,463<F1>
<ASSETS-OTHER> 2,400<F1>
<OTHER-ITEMS-ASSETS> 621<F1>
<TOTAL-ASSETS> 65,638,936<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 539,609<F1>
<TOTAL-LIABILITIES> 539,609<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 103,364,871<F1>
<SHARES-COMMON-STOCK> 9,461,710<F2>
<SHARES-COMMON-PRIOR> 13,507,605<F2>
<ACCUMULATED-NII-CURRENT> 28,947<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 0<F1>
<OVERDISTRIBUTION-GAINS> 27,561,057<F1>
<ACCUM-APPREC-OR-DEPREC> (10,733,434)<F1>
<NET-ASSETS> 65,099,327<F1>
<DIVIDEND-INCOME> 10,997<F1>
<INTEREST-INCOME> 8,603,674<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1,430,292)<F1>
<NET-INVESTMENT-INCOME> 7,184,379<F1>
<REALIZED-GAINS-CURRENT> (2,844,122)<F1>
<APPREC-INCREASE-CURRENT> (12,524,107)<F1>
<NET-CHANGE-FROM-OPS> (8,183,850)<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (4,763,126)<F2>
<DISTRIBUTIONS-OF-GAINS> 0<F2>
<DISTRIBUTIONS-OTHER> 0<F2>
<NUMBER-OF-SHARES-SOLD> 1,892,787<F2>
<NUMBER-OF-SHARES-REDEEMED> 6,554,005<F2>
<SHARES-REINVESTED> 615,323<F2>
<NET-CHANGE-IN-ASSETS> (23,814,666)<F1>
<ACCUMULATED-NII-PRIOR> 191,746<F1>
<ACCUMULATED-GAINS-PRIOR> 0<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 24,716,935<F1>
<GROSS-ADVISORY-FEES> 495,242<F1>
<INTEREST-EXPENSE> 1,902<F1>
<GROSS-EXPENSE> 1,432,025<F1>
<AVERAGE-NET-ASSETS> 50,734,122<F2>
<PER-SHARE-NAV-BEGIN> 4.69<F2>
<PER-SHARE-NII> 0.39<F2>
<PER-SHARE-GAIN-APPREC> (0.82)<F2>
<PER-SHARE-DIVIDEND> (0.39)<F2>
<PER-SHARE-DISTRIBUTIONS> 0<F2>
<RETURNS-OF-CAPITAL> 0<F2>
<PER-SHARE-NAV-END> 3.87<F2>
<EXPENSE-RATIO> 2.09<F2>
[AVG-DEBT-OUTSTANDING] 0<F1>
[AVG-DEBT-PER-SHARE] 0<F1>
<FN>
<F1>INFORMATION GIVEN PERTAINS TO THE SUNAMERICA DIVERSIFIED INCOME FUND AS
A WHOLE.
<F2>INFORMATION GIVEN PERTAINS TO THE SUNAMERICA DIVERSIFIED INCOME
FUND CLASS B.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000795307
<NAME> SUNAMERICA INCOME FUNDS
<SERIES>
<NUMBER> 005
<NAME> TAX EXEMPT INSURED FUND CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1999<F1>
<PERIOD-START> APR-01-1998<F1>
<PERIOD-END> MAR-31-1999<F1>
<INVESTMENTS-AT-COST> 93,851,658<F1>
<INVESTMENTS-AT-VALUE> 101,157,023<F1>
<RECEIVABLES> 1,608,316,<F1>
<ASSETS-OTHER> 19,116<F1>
<OTHER-ITEMS-ASSETS> 58,758<F1>
<TOTAL-ASSETS> 102,843,213<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 476,679<F1>
<TOTAL-LIABILITIES> 476,679<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 96,809,903<F1>
<SHARES-COMMON-STOCK> 6,177,370<F2>
<SHARES-COMMON-PRIOR> 6,791,093<F2>
<ACCUMULATED-NII-CURRENT> 0<F1>
<OVERDISTRIBUTION-NII> 26,179<F1>
<ACCUMULATED-NET-GAINS> (1,722,555)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 7,305,365<F1>
<NET-ASSETS> 102,366,534<F1>
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 5,851,211<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1,475,963)<F1>
<NET-INVESTMENT-INCOME> 4,375,248<F1>
<REALIZED-GAINS-CURRENT> 1,616,431<F1>
<APPREC-INCREASE-CURRENT> (1,407,777)<F1>
<NET-CHANGE-FROM-OPS> 4,583,902<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (3,512,446)<F2>
<DISTRIBUTIONS-OF-GAINS> 0<F2>
<DISTRIBUTIONS-OTHER> 0<F2>
<NUMBER-OF-SHARES-SOLD> 290,778<F2>
<NUMBER-OF-SHARES-REDEEMED> 1,046,604<F2>
<SHARES-REINVESTED> 142,103<F2>
<NET-CHANGE-IN-ASSETS> 9,030,075<F1>
<ACCUMULATED-NII-PRIOR> 0<F1>
<ACCUMULATED-GAINS-PRIOR> 0<F1>
<OVERDISTRIB-NII-PRIOR> 110,607<F1>
<OVERDIST-NET-GAINS-PRIOR> 3,338,986<F1>
<GROSS-ADVISORY-FEES> 534,307<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 1,476,445<F1>
<AVERAGE-NET-ASSETS> 84,548,779<F2>
<PER-SHARE-NAV-BEGIN> 13.03<F2>
<PER-SHARE-NII> 0.56<F2>
<PER-SHARE-GAIN-APPREC> 0.02<F2>
<PER-SHARE-DIVIDEND> (0.54)<F2>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 13.07<F2>
<EXPENSE-RATIO> 1.24<F2>
[AVG-DEBT-OUTSTANDING] 0<F1>
[AVG-DEBT-PER-SHARE] 0<F1>
<FN>
<F1>INFORMATION GIVEN PERTAINS TO THE SUNAMERICA TAX EXEMPT INSURED FUND
AS A WHOLE.
<F2>INFORMATION GIVEN PERTAINS TO THE SUNAMERICA TAX EXEMPT INSURED FUND
CLASS A.
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000795307
<NAME> SUNAMERICA INCOME FUNDS
<SERIES>
<NUMBER> 005
<NAME> TAX EXEMPT INSURED FUND CLASS B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1999<F1>
<PERIOD-START> APR-01-1998<F1>
<PERIOD-END> MAR-31-1999<F1>
<INVESTMENTS-AT-COST> 93,851,658<F1>
<INVESTMENTS-AT-VALUE> 101,157,023<F1>
<RECEIVABLES> 1,608,316,<F1>
<ASSETS-OTHER> 19,116<F1>
<OTHER-ITEMS-ASSETS> 58,758<F1>
<TOTAL-ASSETS> 102,843,213<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 476,679<F1>
<TOTAL-LIABILITIES> 476,679<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 96,809,903<F1>
<SHARES-COMMON-STOCK> 1,656,523<F2>
<SHARES-COMMON-PRIOR> 1,754,749<F2>
<ACCUMULATED-NII-CURRENT> 0<F1>
<OVERDISTRIBUTION-NII> 26,179<F1>
<ACCUMULATED-NET-GAINS> (1,722,555)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 7,305,365<F1>
<NET-ASSETS> 102,366,534<F1>
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 5,851,211<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1,475,963)<F1>
<NET-INVESTMENT-INCOME> 4,375,248<F1>
<REALIZED-GAINS-CURRENT> 1,616,431<F1>
<APPREC-INCREASE-CURRENT> (1,407,777)<F1>
<NET-CHANGE-FROM-OPS> 4,583,902<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (778,374)<F2>
<DISTRIBUTIONS-OF-GAINS> 0<F2>
<DISTRIBUTIONS-OTHER> 0<F2>
<NUMBER-OF-SHARES-SOLD> 328,049<F2>
<NUMBER-OF-SHARES-REDEEMED> 463,939<F2>
<SHARES-REINVESTED> 37,664<F2>
<NET-CHANGE-IN-ASSETS> 9,030,075<F1>
<ACCUMULATED-NII-PRIOR> 0<F1>
<ACCUMULATED-GAINS-PRIOR> 0<F1>
<OVERDISTRIB-NII-PRIOR> 110,607<F1>
<OVERDIST-NET-GAINS-PRIOR> 3,338,986<F1>
<GROSS-ADVISORY-FEES> 534,307<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 1,476,445<F1>
<AVERAGE-NET-ASSETS> 22,312,544<F2>
<PER-SHARE-NAV-BEGIN> 13.04<F2>
<PER-SHARE-NII> 0.47<F2>
<PER-SHARE-GAIN-APPREC> 0.02<F2>
<PER-SHARE-DIVIDEND> (0.46)<F2>
<PER-SHARE-DISTRIBUTIONS> 0<F2>
<RETURNS-OF-CAPITAL> 0<F2>
<PER-SHARE-NAV-END> 13.07<F2>
<EXPENSE-RATIO> 1.91<F2>
[AVG-DEBT-OUTSTANDING] 0<F1>
[AVG-DEBT-PER-SHARE] 0<F1>
<FN>
<F1>INFORMATION GIVEN PERTAINS TO THE SUNAMERICA TAX EXEMPT INSURED FUND
AS A WHOLE.
<F2>INFORMATION GIVEN PERTAINS TO THE SUNAMERICA TAX EXEMPT INSURED FUND
CLASS B.
</FN>
</TABLE>
Report of Independent Accountants
To the Trustees and Shareholders of
SunAmerica Income Funds
In planning and performing our audit of the financial statements
of SunAmerica Income Funds (the "Fund") for the year ended
March 31, 1999, we considered its internal control, including control
activities for safeguarding securities, in order to determine our
auditing procedures for the purpose of expressing our opinion on
the financial statements and to comply with the requirements of
Form N-SAR, not to provide assurance on internal control.
The management of the Fund is responsible for establishing and
maintaining internal control. In fulfilling this responsibility,
estimates and judgments by management are required to assess the
expected benefits and related costs of controls. Generally,
controls that are relevant to an audit pertain to the entity's
objective of preparing financial statements for external purposes
that are fairly presented in conformity with generally accepted
accounting principles. Those controls include the safeguarding of
assets against unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or
fraud may occur and not be detected. Also, projection of any
evaluation of internal control to future periods is subject to the
risk that it may become inadequate because of changes in
conditions or that the effectiveness of the design and operation
may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American Institute
of Certified Public Accountants. A material weakness is a
condition in which the design or operation of one or more of the
internal control components does not reduce to a relatively low
level the risk that misstatements caused by error or fraud in
amounts that would be material in relation to the financial
statements being audited may occur and not be detected within a
timely period by employees in the normal course of performing
their assigned functions. However, we noted no matters involving
internal control and its operation, including controls for
safeguarding securities, that we consider to be material
weaknesses as defined above as of March 31, 1999.
This report is intended solely for the information and use of
management and the Trustees of the Fund and the Securities and
Exchange Commission.
PricewaterhouseCoopers LLP
May 12, 1999
To the Trustees and Shareholders of
SunAmerica Income Funds
SUNAMERICA INCOME FUNDS
SHAREHOLDER INFORMATION (unaudited)
Supplemental Proxy Information: A Special Meeting of the Shareholders
of the SunAmerica Income Funds was held on December 30, 1998. Each of
the applicable Funds voted in favor of adopting the following
proposals, therefore, the results are aggregated for the Funds unless
otherwise specified.
1.Election of Directors:
Votes in Votes
Favor of Abstained
S. James Coppersmith . ........ 50,218,796 2,743,930
Samuel M. Eisenstat ......... 50,223,152 2,739,574
Stephen J. Gutman ......... 50,225,438 2,737,288
Peter A. Harbeck ........ 50,225,438 2,737,288
Sebastiano Sterpa ........ 50,225,438 2,737,288
2.To approve a new investment advisory and management agreement
between SunAmerica Income Funds on behalf of each separate
investment portfolio thereof, and SunAmerica Asset Management Corp.
("SAAMCo") the terms of which are identical in all material
respects to the existing investment advisory and management
agreement.
Votes in Votes Votes
Favor of Against Abstained
48,986,216 750,224 3,226,280
3.To approve changing the fundamental investment restriction
relating to :
(a) short sales of securities;
Votes in Votes Votes
Favor of Against Abstained
38,075,415 2,234,667 12.652,644
(b) the ability to engage in borrowing transactions; and
Votes in Votes Votes
Favor of Against Abstained
37,878,349 2,450,609 12,633,768
(c) the ability to engage in lending transactions.
Votes in Votes Votes
Favor of Against Abstained
38,117,028 2,280,757 12,564,941
4. To ratify the selection of independent accountants.
Votes in Votes Votes
Favor of Against Abstained
49,355,932 578,425 3,028,365