DREYFUS INVESTORS GNMA FUND LP
24F-2NT, 1995-02-24
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                           DREYFUS INVESTORS GNMA FUND
                                200 PARK AVENUE
                              NEW YORK, NY  10166

                                                  February 24, 1995


Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, NW
Washington, DC  20549


      24f-2 Notice - DREYFUS INVESTORS GNMA FUND
      Registration Statement No. 33-12660 - CIK #0000811789

Gentlemen:

    On May 14, 1987, the Registration Statement of Dreyfus Investors GNMA Fund
was declared effective by the SEC.  The Registration Statement represented the
Fund's election to register an indefinite number of shares and this Notice,
filed pursuant to Rule 24f-2, is for the fiscal year ended December 31, 1994.

    The following information is furnished:

    (a)   Shares registered under Securities Act
          of 1933 other than pursuant to Rule 24f(2):               None


                                                  SHARES        DOLLAR AMOUNT

    (b)   Total number of shares sold during
          fiscal year ended 12/31/94 subject
          to registration under Rule 24f-2:    1,237,307       $18,193,639

    (c)   Less shares redeemed during
          fiscal year ended 12/31/94:          1,744,696        25,744,667
                                              -----------      -------------

    Net Redemptions During Fiscal Year:       (  507,389)     ($ 7,551,028)
                                              ===========      =============


                                CALCULATION OF FEE

    Since the shares redeemed exceed the shares sold, no registration fee is
required.  An opinion of counsel is enclosed.

                                                   Very truly yours,

JJP/ems                                            /s/ John J. Pyburn

                                                   John J. Pyburn,
                                                   Assistant Treasurer
cc:  Mr. J. deMichaelis, SEC
     Ms. R. McLaughlin, E&Y



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