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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act file
number 811-00483
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Elfun Trusts
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(Exact name of registrant as specified in charter)
3001, SUMMER STREET,STAMFORD, CONNECTICUT, 06905
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(Address of principal executive offices) (Zip code)
GE ASSET MANAGEMENT,3001, SUMMER STREET,STAMFORD,CONNECTICUT, 06905
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(Name and address of agent for service)
Registrant"s telephone number, including area code: 800-242-0134
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Date of fiscal year end: December 31, 2004
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Date of reporting period: : January 1, 2004 - June 30, 2004
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ITEM 1. REPORTS TO STOCKHOLDERS.
Elfun Trusts (the "Fund" or "registrant") is an employees' securities
company as defined in the Investment Company Act of 1940, as amended
("1940 Act"). The Fund has received an exemption from various provisions of
the 1940 Act,including Section 30 and the rules there under. Pursuant to
this exemption,the Fund prepares and sends to shareholders only one financial
report per year,its audited annual report, which is sent to shareholders
within the required time following its fiscal year end. The Fund understands
from consultations with the staff of the Securities and Exchange Commission
(the "staff of the SEC") that, because the Fund is not required under
Section 30 of the 1940 Act to prepare and file a semi-annual financial report
for the current period, it is also not required to prepare and file one for
the current period with respect to this report on Form N-CSR.
Item 2. CODE OF ETHICS.
Applicable only to an annual filing.
Item 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Applicable only to an annual filing.
Item 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Applicable only to an annual filing.
Item 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
Applicable only to an annual filing.
Item 6. SCHEDULE OF INVESTMENTS.
Not applicable. See Item 1.
Item 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END
MANAGEMENT INVESTMENT COMPANIES.
Applicable only to Closed-End Management Investment Companies.
Item 8. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT
INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
Applicable only to Closed-End Management Investment Companies.
Item 9. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
No material changes to the process.
Item 10. CONTROLS AND PROCEDURES.
The Fund understands from consultations with the staff of
the SEC that,because the Fund is not required under Section 30 of
the 1940 Act to prepare and file a semi-annual report for the current
period, its certifying officers are not required to (a) conduct
an evaluation of the Fund's disclosure controls and procedures for
the current period and (b) disclose their conclusions regarding
such evaluation and the effectiveness of the Fund's disclosure
controls and procedures.
There were no significant changes in the registrant's internal controls
or inother factors that could significantly affect these controls
subsequent to the date of their last evaluation, including any corrective
actions with regardto significant deficiencies and material weaknesses.
Item 11. EXHIBITS.
(a) Not applicable.
(b) Attached hereto, as Exhibit 1 and Exhibit 2 are the Certifications of
John H. Myers and Robert Herlihy as principal executive officer and
principal financial officer, respectively, as required by Rule 30a-2
under the Investment Company Act of 1940.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this
reportto be signed on its behalf by the undersigned, thereunto duly
authorized.
Elfun Trusts
/s/John H. Myers
By: John H. Myers
Title: Trustee, President and Chief Executive Officer,
GE Asset Management Incorporated
Date: September 02, 2004
Pursuant to the requirements of the Securities Exchange Act of 1934
and the Investment Company Act of 1940, this report has been signed below by
the following persons on behalf of the registrant and in the capacities and
on the dates indicated.
/s/John H. Myers
By: John H. Myers
Title: Trustee, President and Chief Executive Officer,
GE Asset Management Incorporated
Date: September 02, 2004
/s/Robert Herlihy
By: Robert Herlihy
Title: Treasurer, Elfun Funds
Date: September 02, 2004
EXHIBIT INDEX
(b)(1) Certifications of principal executive officer and principal
financial officer as required by Rule 30a-2 under the Investment
Company Act of 1940.