Sub-Item 77D: POLICIES WITH RESPECT TO SECURITY INVESTMENTS
The investment policies of the Short-Term Government Fund (the "Fund") were
amended to permit investments in asset-backed securities and corporate debt
obligations. The Fund may invest up to 35% of the Fund's investments in either
of these securities.
The text of the proposal to change the investment policies of the Fund as
described above is hereby provided:
RESOLVED, that the proposal to amend the investment policies of the
Short-Term Government Fund to permit the Short-Term Government Fund to invest in
asset-backed securities and corporate debt obligations be, and it hereby is,
approved.
