X0201
N-CEN
LIVE
0000795307
XXXXXXXX
811-04708
false
false
false
N-1A
S000007632
true
S000007633
true
S000007634
true
SUNAMERICA INCOME FUNDS
811-04708
0000795307
549300EU10ZLRVWWLN43
HARBORSIDE 5
185 HUDSON STREET, SUITE 3300
JERSEY CITY
07311
US-NJ
US
800-858-8850
Newfleet Asset Management, LLC
100 Pearl Street
Hartford
06103
800-243-1574
Subadviser Records
State Street Bank and Trust Company
1 Lincoln Street
Boston
02111
617-786-3000
Custody and Accounting Records.
AIG Capital Services, Inc.
185 Hudson Street
Suite 3300
Jersey City
07311
800-858-8850
Distributor Records
VALIC Retirement Services Company
2929 Allen Parkway
Houston
77019
800-488-2542
Transfer Agent Records
SunAmerica Asset Management, LLC
185 Hudson Street
Suite 3300
Jersey City
07311
800-858-8850
Advisor Records
PineBridge Investments LLC
399 Park Avenue
New York
10022
646-857-8000
Subadviser Records
Y
N
N-1A
3
Y
Peter A. Harbeck
000874901
Y
Dr. Judith L. Craven
000000000
N
Eileen A. Kamerick
000000000
N
Richard W. Grant
000000000
N
Stephen J. Gutman
000000000
N
William F. Devin
000000000
N
Christopher C. Joe
000000000
2919 Allen Parkway
Houston
77019
XXXXXX
N
N
N
N
N
N
AIG Capital Services, Inc.
8-28733
000013158
00000000000000000000
Y
N
PricewaterhouseCoopers LLP
238
5493002GVO7EO8RNNS37
N
N
N
N
N
N
N
AIG Strategic Bond Fund
S000007634
549300KOC38IL7XWFC66
Y
4
0
0
N/A
N
N
Y
N
N/A
N/A
N/A
Rule 32a-4 (17 CFR 270.32a-4)
Y
Y
N
N
SunAmerica Asset Management, LLC
801-19813
000107338
549300E40BQMHI2LOX26
N
PineBridge Investments LLC
801-18759
000105926
CLDVY8VY4GNT81Q4VM57
N
N
DST Asset Manager Solutions, Inc.
84-00896
00000000000000000000
N
N
N
PricingDirect Inc.
549300WIC0TOJ7N7GD54
N
State Street GS Performance Services PLC
BBG001GV0714
Bloomberg Global ID
GB
N
Refinitiv US Holdings Inc.
549300NF240HXJO7N016
N
IHS Markit Ltd.
549300HLPTRASHS0E726
GB
N
Thomson Reuters Corporation
549300561UZND4C7B569
CA
N
Barclays Capital Inc.
AC28XWWI3WIBK2824319
N
ICE Data Services, Inc.
5493000NQ9LYLDBCTL34
N
Bloomberg L.P.
549300B56MD0ZC402L06
N
N
Deutsche Bank Anonim Sirketi
789000N5SE3LWDK7OI11
TR
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Joint Stock Company Commercial Bank Citibank
CHSQDSVI1UI96Y2SW097
RU
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Aktiengesellschaft (Jongno-gu, Seoul, KR, Branch)
7LTWFZYICNSX8D621K86
KR
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Hongkong and Shanghai Banking Corporation Limited (Sydney, NSW, AU, Branch)
2HI3YI5320L3RW6NJ957
AU
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Citibank, National Association (Sao Paulo, Sao Paulo, BR, Branch)
E57ODZWZ7FF32TWEFA76
BR
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Citibank, National Association (Singapore, SG, Branch)
E57ODZWZ7FF32TWEFA76
SG
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Trust Company Canada
549300L71XG2CTQ2V827
CA
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Bank Handlowy w Warszawie Spolka Akcyjna
XLEZHWWOI4HFQDGL4793
PL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Nordea Bank AB (publ) (Helsinki, Uusimaa, FI, Branch)
6SCPQ280AIY8EP3XFW53
FI
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Standard Chartered Bank (Thai) Public Company Limited
549300O1LQYCQ7G1IM57
TH
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Citibank del Peru S.A.
MYTK5NHHP1G8TVFGT193
PE
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Citibank Europe Public Limited Company (Budapest, HU, Branch)
N1FBEDJ5J41VKZLO2475
HU
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
BNP Paribas Securities Services (Athens, Attica, GR, Branch)
549300WCGB70D06XZS54
GR
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Hongkong And Shanghai Banking Corporation Limited -The- (Colombo, Western, LK, Branch)
2HI3YI5320L3RW6NJ957
LK
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Standard Chartered Bank (Hong Kong) Limited
X5AV1MBDXGRPX5UGMX13
HK
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Bank Polska Kasa Opieki - Spolka Akcyjna
5493000LKS7B3UTF7H35
PL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Nordea Bank AB (Oslo, Oslo, NO, Branch)
6SCPQ280AIY8EP3XFW53
NO
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
FirstRand Bank Limited
ZAYQDKTCATIXF9OQY690
ZA
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Euroclear Limited
54930045L3MXWBD27H71
CH
N
Y
Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)
Standard Chartered Bank Kenya Limited
549300RBHWW5EJIRG629
KE
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Itau CorpBanca
549300DDPTTIZ06NIV06
CL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Credit Suisse Funds AG
549300UY5YPGQ600JV78
CH
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Aktiengesellschaft (Amsterdam, Noord Holland, NL, Branch)
7LTWFZYICNSX8D621K86
NL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Bank Hapoalim B.M.
B6ARUI4946ST4S7WOU88
IL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Banco Nacional de Mexico, S.A., Integrante del Grupo Financiero Banamex
2SFFM4FUIE05S37WFU55
MX
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Bank and Trust Company (Edinburgh, GB, Branch)
571474TGEMMWANRLN572
GB
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
HSBC Bank Egypt S.A.E
2138001Q77JDLESS4Y50
EG
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Clearstream Banking S.A.
549300OL514RA0SXJJ44
LU
N
Y
Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)
Citibank Maghreb S.A
5493003FVWLMBFTISI11
MA
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Hongkong and Shanghai Banking Corporation Limited (Chuo ku, Tokyo, JP, Branch)
2HI3YI5320L3RW6NJ957
JP
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Privredna Banka Zagreb - Dionicko Drustvo
549300ZHFZ4CSK7VS460
HR
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Bank and Trust Company
571474TGEMMWANRLN572
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
The Hongkong and Shanghai Banking Corporation Limited (Auckland, Auckland, NZ, Branch)
2HI3YI5320L3RW6NJ957
NZ
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank (Malaysia) Berhad
529900DLWFR8HK7DR278
MY
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Societa per Azioni
529900SS7ZWCX82U3W60
IT
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
N
AIG Fund Services, Inc.
549300HK4TZYVMQE6J69
Y
N
N
N
AIG Capital Services, Inc.
8-28733
000013158
00000000000000000000
0.00000000
VALIC Financial Advisors, Inc.
8-50018
000042803
00000000000000000000
0.00000000
AIG Global Capital Markets Securities, LLC
8-68860
000157767
00000000000000000000
0.00000000
Citigroup Global Markets Inc.
8-8177
000007059
MBNUM2BPBDO7JBLYG310
62.25000000
Credit Suisse Securities (USA) LLC
8-422
000000816
1V8Y6QCX6YMJ2OELII46
13.00000000
75.25000000
Merrill Lynch, Pierce, Fenner & Smith Incorporated
8-7221
000007691
8NAV47T0Y26Q87Y0QP81
47626474.20000000
Goldman Sachs & Co. LLC
8-129
000000361
FOR8UP27PHTHYVLBNG30
45245361.41000000
State Street Bank and Trust Company
N/A
000000000
571474TGEMMWANRLN572
519683100.31000000
Citigroup Global Markets Inc.
8-8177
000007059
MBNUM2BPBDO7JBLYG310
45350572.54000000
Mizuho Securities USA LLC
8-37710
000019647
7TK5RJIZDFROZCA6XF66
85801027.62000000
Barclays Capital Inc.
8-41342
000019714
AC28XWWI3WIBK2824319
71449373.20000000
Jefferies LLC
8-15074
000002347
58PU97L1C0WSRCWADL48
45541682.17000000
JPMorgan Chase & Co.
8-35008
000000079
8I5DZWZKVSZI1NUHU748
101221456.69000000
Deutsche Bank Securities Inc.
8-17822
000002525
9J6MBOOO7BECTDTUZW19
57143989.89000000
Morgan Stanley & Co. LLC
8-15869
000008209
9R7GPTSO7KV3UQJZQ078
50785461.05000000
1333591011.47000000
N
300186004.54000000
Committed
75000000.00000000
Uncommitted
50000000.00000000
N
N
N
N
AIG Flexible Credit Fund
S000007633
549300F86HTJNFHTE228
Y
3
0
0
N/A
N
N
Y
N
N/A
N/A
N/A
Rule 32a-4 (17 CFR 270.32a-4)
Y
Y
N
N
SunAmerica Asset Management, LLC
801-19813
000107338
549300E40BQMHI2LOX26
N
Newfleet Asset Management, LLC
801-51559
000104532
549300FZNGRGI1YVNB75
N
N
DST Asset Manager Solutions, Inc.
84-00896
00000000000000000000
N
N
N
Barclays Capital Inc.
AC28XWWI3WIBK2824319
N
ICE Data Services, Inc.
5493000NQ9LYLDBCTL34
N
Bloomberg L.P.
549300B56MD0ZC402L06
N
Thomson Reuters Corporation
549300561UZND4C7B569
CA
N
State Street GS Performance Services PLC
BBG001GV0714
Bloomberg Global ID
GB
N
Refinitiv US Holdings Inc.
549300NF240HXJO7N016
N
PricingDirect Inc.
549300WIC0TOJ7N7GD54
N
IHS Markit Ltd.
549300HLPTRASHS0E726
GB
N
N
Deutsche Bank Aktiengesellschaft (Makati City, Metro Manila, PH, Branch)
7LTWFZYICNSX8D621K86
PH
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Societa per Azioni
529900SS7ZWCX82U3W60
IT
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Bank and Trust Company (Edinburgh, GB, Branch)
571474TGEMMWANRLN572
GB
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Trust Company Canada
549300L71XG2CTQ2V827
CA
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Bank and Trust Company
571474TGEMMWANRLN572
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
BNP Paribas Securities Services (Athens, Attica, GR, Branch)
549300WCGB70D06XZS54
GR
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Clearstream Banking S.A.
549300OL514RA0SXJJ44
LU
N
Y
Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)
HSBC Bank (China) Company Limited
2CZOJRADNJXBLT55G526
CN
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Bank Polska Kasa Opieki - Spolka Akcyjna
5493000LKS7B3UTF7H35
PL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Credit Suisse Funds AG
549300UY5YPGQ600JV78
CH
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank (Malaysia) Berhad
529900DLWFR8HK7DR278
MY
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Nordea Bank AB (publ) (Stockholm, Stockholm, SE, Branch)
6SCPQ280AIY8EP3XFW53
SE
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Banco Nacional de Mexico, S.A., Integrante del Grupo Financiero Banamex
2SFFM4FUIE05S37WFU55
MX
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Bank Handlowy w Warszawie Spolka Akcyjna
XLEZHWWOI4HFQDGL4793
PL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Cititrust Colombia S A Sociedad Fiduciaria
549300242J3IJCOSGI49
CO
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
FirstRand Bank Limited
ZAYQDKTCATIXF9OQY690
ZA
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Standard Chartered Bank (Hong Kong) Limited
X5AV1MBDXGRPX5UGMX13
HK
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Citibank, National Association (Sao Paulo, Sao Paulo, BR, Branch)
E57ODZWZ7FF32TWEFA76
BR
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Aktiengesellschaft (Amsterdam, Noord Holland, NL, Branch)
7LTWFZYICNSX8D621K86
NL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Citibank, National Association (Singapore, SG, Branch)
E57ODZWZ7FF32TWEFA76
SG
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Hongkong and Shanghai Banking Corporation Limited (Chuo ku, Tokyo, JP, Branch)
2HI3YI5320L3RW6NJ957
JP
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Bank International GmbH
ZMHGNT7ZPKZ3UFZ8EO46
DE
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Hongkong and Shanghai Banking Corporation Limited (Auckland, Auckland, NZ, Branch)
2HI3YI5320L3RW6NJ957
NZ
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Anonim Sirketi
789000N5SE3LWDK7OI11
TR
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Citibank del Peru S.A.
MYTK5NHHP1G8TVFGT193
PE
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Aktiengesellschaft (Madrid, Madrid, ES, Branch)
529900SICIK5OVMVY186
ES
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Nordea Bank AB (publ) (Helsinki, Uusimaa, FI, Branch)
6SCPQ280AIY8EP3XFW53
FI
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Hongkong and Shanghai Banking Corporation Limited (Sydney, NSW, AU, Branch)
2HI3YI5320L3RW6NJ957
AU
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Nordea Bank AB (Oslo, Oslo, NO, Branch)
6SCPQ280AIY8EP3XFW53
NO
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Bank Hapoalim B.M.
B6ARUI4946ST4S7WOU88
IL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Aktiengesellschaft (Jakarta, Jakarta, ID, Branch)
7LTWFZYICNSX8D621K86
ID
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Standard Chartered Bank (Thai) Public Company Limited
549300O1LQYCQ7G1IM57
TH
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
N
AIG Fund Services, Inc.
549300HK4TZYVMQE6J69
Y
N
N
N
VALIC Financial Advisors, Inc.
8-50018
000042803
00000000000000000000
0.00000000
AIG Capital Services, Inc.
8-28733
000013158
00000000000000000000
0.00000000
AIG Global Capital Markets Securities, LLC
8-68860
000157767
00000000000000000000
0.00000000
Instinet, LLC
8-23669
000007897
549300MGMN3RKMU8FT57
313.83000000
JPMorgan Chase & Co.
8-35008
000000079
8I5DZWZKVSZI1NUHU748
12420.14000000
Deutsche Bank Securities Inc.
8-17822
000002525
9J6MBOOO7BECTDTUZW19
13934.38000000
26668.35000000
Barclays Capital Inc.
8-41342
000019714
AC28XWWI3WIBK2824319
41870480.27000000
Citigroup Global Markets Inc.
8-8177
000007059
MBNUM2BPBDO7JBLYG310
16140525.38000000
BofA Securities, Inc.
8-69787
000283942
549300HN4UKV1E2R3U73
33672331.44000000
Goldman Sachs & Co. LLC
8-129
000000361
FOR8UP27PHTHYVLBNG30
16677570.29000000
Credit Suisse Securities (USA) LLC
8-422
000000816
1V8Y6QCX6YMJ2OELII46
39551383.24000000
Pershing LLC
8-17574
000007560
ZI8Q1A8EI8LQFJNM0D94
23152202.17000000
Merrill Lynch, Pierce, Fenner & Smith Incorporated
8-7221
000007691
8NAV47T0Y26Q87Y0QP81
18791133.85000000
JPMorgan Chase & Co.
8-35008
000000079
8I5DZWZKVSZI1NUHU748
70365204.40000000
Morgan Stanley & Co. LLC
8-15869
000008209
9R7GPTSO7KV3UQJZQ078
18519665.59000000
State Street Bank and Trust Company
N/A
000000000
571474TGEMMWANRLN572
312592521.45000000
681184250.86000000
N
326650124.73000000
Uncommitted
50000000.00000000
N
Committed
75000000.00000000
N
N
N
AIG U.S. Government Securities Fund
S000007632
549300OVW6847SU25V16
Y
2
0
0
N/A
N
N
Y
N
N/A
N/A
N/A
Rule 32a-4 (17 CFR 270.32a-4)
Y
Y
Y
N
SunAmerica Asset Management, LLC
801-19813
000107338
549300E40BQMHI2LOX26
N
DST Asset Manager Solutions, Inc.
84-00896
00000000000000000000
N
N
N
Bloomberg L.P.
549300B56MD0ZC402L06
N
State Street GS Performance Services PLC
BBG001GV0714
Bloomberg Global ID
GB
N
ICE Data Services, Inc.
5493000NQ9LYLDBCTL34
N
IHS Markit Ltd.
549300HLPTRASHS0E726
GB
N
Barclays Capital Inc.
AC28XWWI3WIBK2824319
N
PricingDirect Inc.
549300WIC0TOJ7N7GD54
N
Thomson Reuters Corporation
549300561UZND4C7B569
CA
N
Refinitiv US Holdings Inc.
549300NF240HXJO7N016
N
N
State Street Bank and Trust Company
571474TGEMMWANRLN572
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
Clearstream Banking S.A.
549300OL514RA0SXJJ44
LU
N
Y
Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)
N
AIG Fund Services, Inc.
549300HK4TZYVMQE6J69
Y
N
N
N
AIG Capital Services, Inc.
8-28733
000013158
00000000000000000000
0.00000000
AIG Global Capital Markets Securities, LLC
8-68860
000157767
00000000000000000000
0.00000000
VALIC Financial Advisors, Inc.
8-50018
000042803
00000000000000000000
0.00000000
0.00000000
Pershing LLC
8-17574
000007560
ZI8Q1A8EI8LQFJNM0D94
11156601.57000000
JPMorgan Chase & Co.
8-35008
000000079
8I5DZWZKVSZI1NUHU748
4023892.77000000
RBC Capital Markets, LLC
8-45411
000031194
549300LCO2FLSSVFFR64
7338808.60000000
The Bank of New York Mellon
8-35255
000017454
HPFHU0OQ28E4N0NFVK49
14638218.75000000
State Street Bank and Trust Company
N/A
000000000
571474TGEMMWANRLN572
758733000.00000000
795890521.69000000
N
138311403.48000000
Uncommitted
50000000.00000000
N
Committed
75000000.00000000
N
N
N
N
true
Report of Independent Registered Public
Accounting Firm
To the Board of Trustees of SunAmerica Income Funds
and Shareholders for each of the funds listed in
Appendix I
In planning and performing our audits of the financial
statements of the funds listed in Appendix I, (hereafter
collectively referred to as the "Company") as of and for
the year ended March 31, 2019, in accordance with the
standards of the Public Company Accounting Oversight
Board (United States) ("PCAOB"), we considered the
Company's internal control over financial reporting,
including controls over safeguarding securities, as a
basis for designing our auditing procedures for the
purpose of expressing our opinion on the financial
statements and to comply with the requirements of Form
N-CEN, but not for the purpose of expressing an opinion
on the effectiveness of the Company's internal control
over financial reporting. Accordingly, we do not express
an opinion on the effectiveness of the Company's
internal control over financial reporting.
The management of the Company is responsible for
establishing and maintaining effective internal control
over financial reporting. In fulfilling this responsibility,
estimates and judgments by management are required to
assess the expected benefits and related costs of controls.
A company's internal control over financial reporting is a
process designed to provide reasonable assurance
regarding the reliability of financial reporting and the
preparation of financial statements for external purposes
in accordance with generally accepted accounting
principles. A company's internal control over financial
reporting includes those policies and procedures that (1)
pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and
dispositions of the assets of the company; (2) provide
reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements
in accordance with generally accepted accounting
principles, and that receipts and expenditures of the
company are being made only in accordance with
authorizations of management and trustees of the
company; and (3) provide reasonable assurance
regarding prevention or timely detection of unauthorized
acquisition, use or disposition of a company's assets that
could have a material effect on the financial statements.
Because of its inherent limitations, internal control over
financial reporting may not prevent or detect
misstatements. Also, projections of any evaluation of
effectiveness to future periods are subject to the risk that
controls may become inadequate because of changes in
conditions, or that the degree of compliance with the
policies or procedures may deteriorate.
A deficiency in internal control over financial reporting
exists when the design or operation of a control does not
allow management or employees, in the normal course of
performing their assigned functions, to prevent or detect
misstatements on a timely basis. A material weakness is
a deficiency, or a combination of deficiencies, in internal
control over financial reporting, such that there is a
reasonable possibility that a material misstatement of
the company's annual or interim financial statements
will not be prevented or detected on a timely basis.
Our consideration of the Company's internal control
over financial reporting was for the limited purpose
described in the first paragraph and would not
necessarily disclose all deficiencies in internal control
over financial reporting that might be material
weaknesses under standards established by the PCAOB.
However, we noted no deficiencies in the Company's
internal control over financial reporting and its
operation, including controls over safeguarding
securities, that we consider to be a material weakness as
defined above as of March 31, 2019.
This report is intended solely for the information and use
of the Board of Trustees of SunAmerica Income Funds
and the Securities and Exchange Commission and is not
intended to be and should not be used by anyone other
than these specified parties.
/s/ PricewaterhouseCoopers LLP
Houston, Texas
May 29, 2019
SunAmerica Income Funds
Appendix I
AIG Flexible Credit Fund
AIG Strategic Bond Fund
AIG U.S. Government Securities Fund
