SC 13D/A 1 thirda.txt SCHEDULE 13D DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT 07/27/2011 1. NAME OF REPORTING PERSON Bulldog Investors, Phillip Goldstein, Andrew Dakos and Brooklyn Capital Management LLC. 2. CHECK THE BOX IF MEMBER OF A GROUP a[X] b[] 3. SEC USE ONLY 4. SOURCE OF FUNDS WC 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) [] 6. CITIZENSHIP OR PLACE OF ORGANIZATION USA ___________________________________________________________ 7. SOLE VOTING POWER 1,454,083 8. SHARED VOTING POWER 15,990 9. SOLE DISPOSITIVE POWER 1,470,073 _______________________________________________________ 10. SHARED DISPOSITIVE POWER 0 11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 1,470,073 12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES [] ___________________________________________________________ 13. PERCENT OF CLASS REPRESENTED BY ROW 11 20.30% 14. TYPE OF REPORTING PERSON IA _______________________________________________________ Item 1. SECURITY AND ISSUER This statement constitutes Amendment #10 to the schedule 13d filed Nov 5, 2009. Except as specifically set forth herein, the Schedule 13d remains unmodified. ITEM 3. SOURCE AND AMOUNT OF FUNDS AND OTHER CONSIDERATIONS Shares of the Issuer have been accumulated on behalf of managed accounts. ITEM 4. PURPOSE OF TRANSACTION The filing persons believe that the length of time to achieve a liquidity event at or very close to net asset (as set forth in the Fund's July 27, 2011 press release) value is excessive. The filing persons have communicated their views to the Fund's management and are considering their options. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER As per the N-CSR filed 03/09/11 there are 7,241,427 shares of common stock outstanding as of December 31, 2010. The percentage set forth in item 5 was derived using such number. Bulldog Investors, Brooklyn Capital Management, Phillip Goldstein and Andrew Dakos beneficially own an aggregate of 1,470,073 shares of FGI or 20.30% of the outstanding shares. Power to dispose of and vote securities resides either with Mr. Goldstein, Mr. Dakos or with clients. c) During the last 60 days the following shares of FGI were bought. DATE SHARES PRICE 07/06/11 10,000 19.3236 07/08/11 3,450 19.6010 07/11/11 1,600 19.3000 07/18/11 100 19.0000 07/26/11 3,200 19.7075 07/27/11 15,875 19.5575 08/04/11 38,700 17.7819 d) Beneficiaries of managed accounts are entitled to receive any dividends or sales proceeds. e) NA ITEM 6. CONTRACTS,ARRANGEMENTS,UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. None. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS none After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: 08/05/11 By: /s/ Phillip Goldstein Name: Phillip Goldstein By: /S/ Andrew Dakos Name: Andrew Dakos