FEDERATED GOVERNMENT INCOME TRUST
Federated Investors Funds
4000 Ericsson Drive
Warrendale, Pennsylvania 15086-7561
November 10, 2014
EDGAR Operations Branch
Securities and Exchange Commission
Division of Investment Management
450 Fifth Street, Northwest
Washington, DC 20549
RE: FEDERATED GOVERNMENT INCOME TRUST (the “Trust”)
Institutional Shares
Service Shares
1933 Act File No. 333-199212
1940 Act File No. 811-3352
Dear Sir or Madam:
Pursuant to my telephone conversations with the SEC examiner, Asen Parachkevov on November 6, 2014 and November 7, 2014, our response to the additional comment received is as follows.
1. In response to comment #5, the strategies are substantially the same. The difference is that GNMA is limited to buying securities that carry a full faith and credit guarantee from the US Treasury, principally GNMA MBS, whereas FGIT is allowed to buy FNMA and FGLMC securities as well (but NOT private label MBS). The Barclays MBS index is a bit shorter in duration (4.86yrs vs. 5.21yrs) than the Barclays GNMA Index (the GNMA index makes up about 25% of the entire MBS index). But aside from the expanded investable universe and a slightly shorter duration, the strategies are basically the same.
Very truly yours,
/s/ Sheryl L. McCall
Sheryl L. McCall
Senior Paralegal
