<SEC-DOCUMENT>0001193125-15-338289.txt : 20151202
<SEC-HEADER>0001193125-15-338289.hdr.sgml : 20151202
<ACCEPTANCE-DATETIME>20151006140436
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-15-338289
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20151006

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TCW STRATEGIC INCOME FUND INC
		CENTRAL INDEX KEY:			0000809559
		IRS NUMBER:				930939398
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		865 S FIGUEROA ST STE 1800
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90071
		BUSINESS PHONE:		2132440000

	MAIL ADDRESS:	
		STREET 1:		865 S. FIGUEROA STREET,
		STREET 2:		SUITE 1800
		CITY:			LOSANGELES
		STATE:			CA
		ZIP:			90017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TCW CONVERTIBLE SECURITIES FUND INC
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TCW FUNDS INC
		CENTRAL INDEX KEY:			0000892071
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		865 SOUTH FIGUEROA STREET
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90017
		BUSINESS PHONE:		2132440000

	MAIL ADDRESS:	
		STREET 1:		865 SOUTH FIGUEROA STREET
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TCW GALILEO FUNDS INC
		DATE OF NAME CHANGE:	19950113

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TCW FUNDS INC
		DATE OF NAME CHANGE:	19930714
</SEC-HEADER>
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<TYPE>CORRESP
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TCW Funds </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>865 South Figueroa Street </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Los Angeles, California 90017 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">October&nbsp;6, 2015 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>VIA EDGAR CORRESPONDENCE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Jeff Long </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, NE </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, DC 20549 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">Re:</TD>
<TD ALIGN="left" VALIGN="top"><B>TCW Funds, Inc. (&#147;TFI&#148; or the &#147;Trust&#148;) &#150; File Nos. 033-52272 and 811-07170</B> </TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><B>TCW Strategic Income Fund, Inc. (&#147;TSI&#148;) &#150; File No.&nbsp;811-04980 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On behalf of the Trust and TSI (each, a
&#147;Registrant&#148; and together, the &#147;Registrants&#148;), we hereby respond to the oral comments provided on September&nbsp;17, 2015 by Mr.&nbsp;Jeff Long of the staff (the &#147;Staff&#148;) of the Securities and Exchange Commission (the
&#147;Commission&#148;) with respect to the Trust&#146;s October&nbsp;31, 2014 Annual Report (the &#147;TFI Annual Report&#148;) and TSI&#146;s December&nbsp;31, 2014 Annual Report (the &#147;TSI Annual Report&#148;), filed on December&nbsp;29, 2014
and February&nbsp;25, 2015, respectively. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Those comments are repeated below and organized in the same fashion as presented by Mr.&nbsp;Long. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Except as otherwise noted, all capitalized terms used but not otherwise defined in the following comments and responses have the same meanings ascribed to
such terms in that same version of the TFI Annual Report or TSI Annual Report, as appropriate. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><I>1.</I></TD>
<TD ALIGN="left" VALIGN="top"><I><U>Comment</U>: The Staff notes that TCW Growth Fund appears to be no longer active. Please deactivate the Fund on EDGAR. </I></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Response</U>: Comment accepted. The Registrant has deactivated the TCW Growth Fund on EDGAR. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Management Discussions </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><I>2.</I></TD>
<TD ALIGN="left" VALIGN="top"><I><U>Comment</U>: With respect to TFI, please add disclosure related to the benchmark returns for the Equity Funds. </I></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Response</U>: Comment accepted. Although the benchmark returns were provided for the Equity Funds, the information was not presented in the same manner as
for the Fixed Income Funds. The Registrant will revise the format of the Equity Funds disclosure to add the total return tables, which include benchmark returns, in tabular format in a manner similar to the Fixed Income Funds for future shareholder
reports. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">October 6, 2015 </P>
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 2
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

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<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><I>3.</I></TD>
<TD ALIGN="left" VALIGN="top"><I><U>Comment</U>: With respect to the Fixed Income Funds and TCW Enhanced Commodity Strategy Fund, please provide additional detail regarding the factors contributing to or detracting from the Funds&#146; performance
in a manner similar to that provided for the Equity Funds. </I></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Response</U>: Comment accepted. The Registrant will add additional detail
to the disclosure of the Funds&#146; performance for the Fixed Income Funds and TCW Enhanced Commodity Strategy Fund in future shareholder reports. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><I>4.</I></TD>
<TD ALIGN="left" VALIGN="top"><I><U>Comment</U>: With respect to TCW Enhanced Commodity Strategy Fund, please confirm whether the Fund&#146;s investment in swaps were a driver of performance and if so, please add disclosure related to the effect of
swaps on performance. </I></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Response</U>: Comment accepted. The Registrant will add the suggested disclosure in future shareholder reports
to the extent it remains applicable. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Schedules of Investments </U></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><I>5.</I></TD>
<TD ALIGN="left" VALIGN="top"><I><U>Comment</U>: With respect to TCW Total Return Bond Fund, the Fund invests significantly in mortgage-backed securities. Please consider disclosing mortgage-backed securities as a significant sector investment in
the strategy section of the prospectus with the appropriate concentration risk. </I></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Response</U>: Comment acknowledged. The Fund&#146;s
description of its principal investment strategy in its prospectus does refer to investing more than 50% of its net assets in securitized obligations including mortgage-backed securities and asset-backed securities. Although the Registrants take the
position that mortgage-backed securities and asset-backed securities, whether government-issued or privately issued, do not represent interests in any particular &#147;industry&#148; or group of industries, the Fund&#146;s holdings do represent an
emphasis on investments a particular type of investment and, therefore, the Fund will give greater prominence to that focus and the related risks in its prospectus disclosure when next updated. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><I>6.</I></TD>
<TD ALIGN="left" VALIGN="top"><I><U>Comment</U>: With respect to TCW High Yield Bond Fund, the Fund is a seller of protection of a credit default swap. Please confirm that the Fund maintains sufficient liquid assets to cover that credit default
swap. </I></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Response</U>: Comment accepted. The Registrant confirms that TCW High Yield Bond Fund maintains sufficient liquid assets to
cover the Fund&#146;s obligation under the swap. The Fund monitors Section&nbsp;18 requirement of the Investment Company Act of 1940, as amended, on a daily basis. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">October 6, 2015 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 3
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Statements of Changes in Net Assets </U></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><I>7.</I></TD>
<TD ALIGN="left" VALIGN="top"><I><U>Comment</U>: With respect to TCW Emerging Markets Local Currency Income Fund, the Fund appears to have a return of capital. Please confirm that the Fund&#146;s return of capital was in compliance with
Section&nbsp;19(a) of the Investment Company Act of 1940, as amended. </I></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Response</U>: Comment accepted. The Registrant confirms that
the return of capital distribution by TCW Emerging Markets Local Currency Income Fund was announced by posting the information on the Fund&#146;s website and that disclosure contained the information required by Rule 19a-1 under the Investment
Company Act of 1940, as amended, with sources from which the distribution was made. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; * </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We also hereby provide the following statements on
behalf of the Registrants: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Registrants are responsible for the adequacy and accuracy of the disclosure in the filing; </TD></TR></TABLE>
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<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Staff comments or changes to disclosure in response to Staff comments do not foreclose the Commission from taking any action with respect to the filing; and </TD></TR></TABLE>
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<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Registrants may not assert Staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Please contact the undersigned at (213)&nbsp;244-0000 with comments and questions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Very truly yours, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>/s/ Patrick W. Dennis </U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Patrick W. Dennis </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Assistant Secretary </P>
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