#Dex dmg 155 q update#

Rates were partly offset by low inflation expectations and robust investor demand, which kept bond prices relatively stable at the longer end of the maturity spectrum and enabled mortgage-backed securities to eke out modestly positive total However, the eroding effects of higher interest government securities marketplace, GNMA securities were primarily influenced by rising short-term interest rates during the reporting period.

1 The Lehman Brothers GNMA Index (the 'Index'), the fund's benchmark, achieved a total return of 0.63% for the same period. perform relative to its benchmark?įor the six-month period ended October 31, 2005, the fund achieved a total return of 0.24% and distributed aggregate income dividends totaling $0.29 per share. Thank you for your continued confidence and support.

Potential effects of higher fuel prices on consumer spending, may set the tone for the financial markets in 2006.As always, we encourage you to talk with your financial advisor about the investment strategies and specific portfolio allocations that Investors' reactions to a change in leadership at the Federal Reserve Board, coupled with the economy may be reaching an inflection point. investors and robust demand from overseas investors appear to have helped longer-term bond prices withstand the potentially eroding effects of rising short-termĪs the end of 2005 approaches, some economists have suggested that the U.S. In addition, low inflation expectations among U.S. Managed during the reporting period, including a discussion with the fund's primary portfolio manager, Marc Seidner.Īlthough bond yields recently started creeping upward, they generally held much of their value during the reporting period, as long-term bond yield spreads remained relatively narrow compared to short-term bond yields Inside, you'll find valuable information about how the fund was covering the six-month period from May 1, 2005, through October 31, 2005. We are pleased to present this semiannual report for Dreyfus GNMA Fund, Inc. L E T T E R F R O M T H E C H A I R M A N Not FDIC-Insured Not Bank-Guaranteed May Lose Value

#Dex dmg 155 q update#

Such views are subject to change at any time based upon market or other conditions and Dreyfus disclaims any responsibility to update such views.These views may not be relied on as investment advice and, because investment decisions for a Dreyfusįund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Dreyfus fund. The views expressed in this report reflect those of the portfolio manager only through the end of the period covered and do not necessarily represent the views of Dreyfus or any other person in the Dreyfus organization. Log into and sign up for Dreyfus eCommunications. View your next shareholder report online as soon as it's available. Registrant's telephone number, including area code: (212) 922-6000 (Address of principal executive offices) (Zip code) (Exact name of Registrant as specified in charter) Investment Company Act file number 811-4215 CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT