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EXHIBIT (n)(2)(ii)
INDEPENDENT AUDITORS' REPORT
The Board of Trustees and Shareholders of
Van Kampen Senior Floating Rate Fund:
We have audited the statement of changes in net assets of the Van Kampen Senior
Floating Rate Fund for the year ended July 31, 1999 and the financial highlights
for the year ended July 31, 1999 and for the period March 27, 1998 (commencement
of investment operations) to July 31, 1998. The statement of changes in net
assets and the financial highlights are the responsibility of the Fund's
management. Our responsibility is to express an opinion on these financial
statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the statement of changes in net assets and
the financial highlights are free of material misstatements. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.
In our opinion, the statements of changes in net assets and the financial
highlights referred to above present fairly, in all material respects, the
results of their changes in net assets of the Van Kampen Senior Floating Rate
Fund for the year ended July 31, 1999 and the financial highlights for the year
ended July 31, 1999 and for the period March 27, 1998 (commencement of
investment operations) to July 31, 1998, in conformity with generally accepted
accounting principles.
/s/ KPMG LLP
Chicago, Illinois
September 14, 1999
