SCHEDULE 13 D
DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT
June 29,2000
1.NAME OF REPORTING PERSON
Phillip Goldstein
2.CHECK THE BOX IF MEMBER OF A GROUP [ ]
3.SEC USE ONLY
________________________________________________________________
4.SOURCE OF FUNDS
WC
________________________________________________________________
5.CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURUSANT TO ITEMS 2(d) or 2 (e) [ ]
6.CITIZENSHIP OR PLACE OF ORGANIZATION
USA
7.SOLE VOTING POWER
607,050
8.SHARED VOTING POWER
0
9.SOLE DISPOSITIVE POWER
607,050
10. SHARED DISPOSITIVE POWER
0
11.AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
607,050
12.CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES [ ]
________________________________________________________________
13.PERCENT OF CLASS REPRESENTED BY ROW 11
5.1%
14.TYPE OF REPORTING PERSON
IA
________________________________________________________________
Item 1. SECURITY AND ISSUER
This schedule 13D relates to the shares of Common Stock (the
"Common Stock")of Dresdner RCM Global Strategic Income Fund,
Inc.(the "Fund"). The principal executive offices of the Fund
are located at 4 Embarcadero Center, Suite 3000,San Francisco,
CA 94111.
Item 2. IDENTITY AND BACKGROUND
(a)-(f)
This statement is filed on behalf of Phillip Goldstein, 60
Heritage Drive, New York, NY 10570.
Mr. Goldstein is a self-employed investment advisor. He is also
president of Kimball and Winthrop, Inc., 60 Heritage Drive,
Pleasantville, NY 10570, an investment advisory firm.
During the last 5 years Mr. Goldstein has not been convicted in
a criminal proceeding nor been a party to a civil proceeding of
a judicial or administrative body of competent jurisdiction as a
result of which he was or is subject to a judgement, decree or
final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities
laws or finding any violation with respect to such laws.
Mr. Goldstein is a US citizen.
ITEM 3. SOURCE AND AMOUNT OF FUNDS AND OTHER CONSIDERAIONS
Mr. Goldstein, an independent investment advisor, has
accumulated shares of the Fund on behalf of accounts that are
managed by Mr. Goldstein. All funds that have been utilized to
purchase shares of the Fund are from such accounts or from
margin loans from broker dealers where these accounts are held.
ITEM 4. PURPOSE OF TRANSACTION
Mr. Goldstein purchased shares of the Fund because they have
been trading at a significant discount to net asset value for a
long time. His intention is to take actions that he believes
would lead to a narrowing of the discount. In connection with
this objective, he has submitted a shareholder proposal (see
exhibit 1) to open-end the Fund and has given the Fund notice
that he intends to nominate a slate of directors at the Fund's
2000 annual meeting. Mr. Goldstein intends to solicit proxies
to pass his proposal and elect his nominees.
ITEM 5. INEREST IN SECURITIES OF THE ISSUER
a. The Fund's semi-annual report, dated June 26, 2000, states
that there were 11,954,566 shares of Common Stock outstanding.
The percentage set forth in this item (5a) was derived using
such number.
The Reporting Persons are the beneficial owners of 607,050
shares of Common Stock, which constitutes approximately 5.1% of
the outstanding shares of Common Stock.
b. Power to vote and to dispose of the securities resides with
Mr. Goldstein.
c. During the last sixty days, the following shares of common
stock were traded:
5/1/00 Bot 7,200 at 5 13/16
5/2/00 Bot 100 at 5 13/16
6/1/00 Bot 500 at 5 11/16
6/2/00 Bot 2,600 at 5 11/16
6/7/00 Bot 9,300 at 5 13/16
6/8/00 Bot 1,300 at 5 13/16
6/21/00 Bot 14,600 at 6 1/8
6/27/00 Bot 15,000 at 6 3/16
6/28/00 Bot 8,000 at 6 1/8
6/28/00 Bot 5,000 at 6 3/16
6/29/00 Bot 1,200 at 6 1/8
6/29/00 Bot 10,000 at 6 3/16
d. None
e. NA
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 1. Shareholder Proposal
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
Dated: July 3, 2000
By: /s/ Phillip Goldstein
Name: Phillip Goldstein
EXHIBITS:
Exhibit 1. Shareholder Proposal
March 8, 2000
Robert J. Goldstein, Secretary
Dresdner RCM Global Strategic Income Fund, Inc.
Four Embarcadero Center
San Francisco, CA 94111
Dear Mr. Goldstein:
We have beneficially owned shares of Dresdner RCM Global
Strategic Income Fund, Inc. (the "Fund") valued at more than
$2,000 for more than one year, and we expect to continue
ownership through the date of the Fund's next annual meeting.
Pursuant to rule 14a-8 of the Securities Exchange Act of 1934,
we are hereby submitting the following proposal and supporting
statement for inclusion in the Fund's proxy material for its
2000 annual meeting of stockholders.
*******************************
RESOLVED: The stockholders of Dresdner RCM Global Strategic
Income Fund, Inc. (the "Fund") urge the Board of Directors to
take the steps necessary to convert the Fund to an open-end
fund.
Supporting Statement
The Fund's shares have long traded at a double-digit discount to
net asset value ("NAV"). The last annual report to shareholders
stated that one way to measure the success of the Fund's
restructuring is "the performance of the Fund's share price."
By that measure, the restructuring has been a dismal failure.
As of March 3, 2000, the Fund's share price was $6.00 vs. a net
asset value of $7.55 or a discount was 20.5%. That represents
more than $18 million in "lost value" to shareholders.
The long-term performance of the Fund has been disappointing.
In August 1986, the Fund offering price was $10 per share. What
can one say about a bond fund in which shareholders have seen
their capital fall by 40% since inception despite a generally
favorable interest rate environment?
In my opinion, the time has come to convert the Fund to an open-
end fund. Converting to an open-end fund will give stockholders
a tangible benefit, i.e., elimination of the discount that I
believe far outweighs whatever theoretical advantages management
asserts that the closed-end structure supposedly offers.
Very truly yours,
Phillip Goldstein
Portfolio Manager
