INDEPENDENT AUDITORS' CONSENT


The Board of Directors
Pilgrim Government Securites Income Fund, Inc.:


In connection with the combined registration  statement/proxy  statement on Form
N-14 for the Pilgrim  Government  Securites  Income  Fund,  Inc.,  we consent to
incorporation  by reference of our report on the Pilgrim  Government  Securities
Income  Fund and to the  reference  to our Firm  under  the  heading  "Financial
Highlights"in Exhibit B to the Prospectus.


                                        /s/ KPMG LLP


Los Angeles, California
December 20, 1999