<SEC-DOCUMENT>0001752724-21-267519.txt : 20211213
<SEC-HEADER>0001752724-21-267519.hdr.sgml : 20211213
<ACCEPTANCE-DATETIME>20211213120509
ACCESSION NUMBER:		0001752724-21-267519
CONFORMED SUBMISSION TYPE:	N-CEN
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210930
FILED AS OF DATE:		20211213
DATE AS OF CHANGE:		20211213
EFFECTIVENESS DATE:		20211213

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TEKLA LIFE SCIENCES INVESTORS
		CENTRAL INDEX KEY:			0000884121
		IRS NUMBER:				043147016
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		N-CEN
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06565
		FILM NUMBER:		211487447

	BUSINESS ADDRESS:	
		STREET 1:		100 FEDERAL STREET
		STREET 2:		19TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		6177728515

	MAIL ADDRESS:	
		STREET 1:		100 FEDERAL STREET
		STREET 2:		19TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	H&Q LIFE SCIENCES INVESTORS
		DATE OF NAME CHANGE:	19920929
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CEN
<SEQUENCE>1
<FILENAME>primary_doc.xml
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            <principalStateCountry principalState="US-CA" principalCountry="US"/>
            <principalTotalPurchaseSale>9398222.52000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Pershing LLC</principalName>
            <principalFileNo>8-17574</principalFileNo>
            <principalCrdNo>000007560</principalCrdNo>
            <principalLei>ZI8Q1A8EI8LQFJNM0D94</principalLei>
            <principalStateCountry principalState="US-NJ" principalCountry="US"/>
            <principalTotalPurchaseSale>2352545.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2104996.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Aristea Therapeutics, Inc.</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>00000000000000000000</principalLei>
            <principalStateCountry principalState="US-CA" principalCountry="US"/>
            <principalTotalPurchaseSale>1600004.07000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>1758208779.55000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>513758081.23384615</mnthlyAvgNetAssets>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <closedEndManagementInvestment>
      <securityRelatedItems>
        <securityRelatedItem>
          <description>Common stock</description>
          <securityClassTitle>Tekla Life Sciences Investors</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="XNYS" commonStockTickerSymbol="HQL"/>
          </commonStocks>
        </securityRelatedItem>
      </securityRelatedItems>
      <isRightsOffering>N</isRightsOffering>
      <isSecondaryOffering>N</isSecondaryOffering>
      <isRepurchaseSecurity>N</isRepurchaseSecurity>
      <isDefaultLongTermDebt>N</isDefaultLongTermDebt>
      <isDividendsInArrears>N</isDividendsInArrears>
      <isSecuritiesModified>N</isSecuritiesModified>
      <managementFee>1.01000000</managementFee>
      <netOperatingExpenses>1.24000000</netOperatingExpenses>
      <marketPricePerShare>20.80000000</marketPricePerShare>
      <netAssetValuePerShare>21.22000000</netAssetValuePerShare>
    </closedEndManagementInvestment>
    <attachmentsTab>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
    </attachmentsTab>
    <signature registrantSignedName="TEKLA LIFE SCIENCES INVESTORS" signedDate="2021-12-10" signature="Laura Woodward" title="VP of Fund Admin"/>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>INTERNAL CONTROL RPT
<SEQUENCE>2
<FILENAME>NCEN_811-06565_63043892_0921.htm
<TEXT>

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   <TITLE>hql2021.htm - Generated by SEC Publisher for SEC Filing</TITLE>
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<a name="page_1"></a><a name="_bclPageBorder1"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin-bottom:8.0pt;margin-left:33.3pt;margin-right:0in;margin-top:1.95pt;"><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;line-height:107%;">REPORT</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;"> </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;line-height:107%;">OF</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;"> </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;line-height:107%;">INDEPENDENT</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">
</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;line-height:107%;">REGISTERED </font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">PUBLIC</font></b><b><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;line-height:107%;"> ACCOUNTING FIRM</font></b></p>

<p style="margin-bottom:8.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">To the Shareholders and the Board of Trustees of Tekla Life
Sciences Investors:</font></p>

<p style="margin-bottom:8.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">In planning and performing our audit of the financial
statements of Tekla Life Sciences Investors (the &quot;Fund&quot;) as of and
for the year ended September 30, 2021, in accordance with the standards of the
Public Company Accounting Oversight Board (United States) (PCAOB), we
considered the Fund'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 Fund's internal
control over financial reporting. Accordingly, we express no such opinion.</font></p>

<p style="margin-bottom:8.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">The management of the Fund 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
fund'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 fund'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 fund; (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 fund
are being made only in accordance with authorizations of management and trustees
of the fund; and (3) provide reasonable assurance regarding prevention or
timely detection of unauthorized acquisition, use, or disposition of a fund's
assets that could have a material effect on the financial statements.</font></p>

<p style="margin-bottom:8.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">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.</font></p>

<p style="margin-bottom:8.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">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 fund's annual or interim financial statements will
not be prevented or detected on a timely basis.</font></p>

<p style="margin-bottom:8.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">Our consideration of the Fund'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 that might be material weaknesses under standards established by the
PCAOB. However, we noted no deficiencies in the Fund's internal control over
financial reporting and its operation, including controls for safeguarding securities,
that we consider to be a material weakness, as defined above, as of September
30, 2021.</font></p>

<p style="margin-bottom:8.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">This report is intended solely for the information and use
of management and the Board of Trustees of the Fund and the Securities and
Exchange Commission and is not intended to be and should not be used by anyone
other than these specified parties.</font></p>

<p style="margin-bottom:8.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><i><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">/s/ DELOITTE &amp; TOUCHE LLP</font></i></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">Boston,
Massachusetts</font></p>

<p style="margin-bottom:8.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;line-height:107%;">November 19, 2021</font></p>




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