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002 B000000 OAKBROOK TERRACE
002 C000000 IL
002 D010000 60181
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008 B000001 A
008 C000001 801-8286
008 D010001 OAKBROOK TERRACE
008 D020001 IL
008 D030001 60181
011 A000001 VAN KAMPEN AMERICAN CAPITAL DISTRIBUTORS, INC
011 B000001 8-19903
011 C010001 OAKBROOK TERRACE
011 C020001 IL
011 C030001 60181
012 A000001 ACCESS INVESTOR SERVICES, INC
012 B000001 84-01621
012 C010001 KANSAS CITY
012 C020001 MO
012 C030001 64141
012 C040001 9256
013 A000001 PRICE WATERHOUSE, LLP
013 B010001 HOUSTON
<PAGE> PAGE 2
013 B020001 TX
013 B030001 77002
015 A000001 STATE STREET BANK & TRUST CO.
015 B000001 C
015 C010001 BOSTON
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015 C030001 02110
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022 C000003 43269780
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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SIGNATURE DENNIS J MCDONNELL
TITLE PRES, CEO & TRUSTEE
NSAR ITEM 77C
Van Kampen American Capital Corporate Bond Fund
(a) A Special Meeting of Shareholders was held on October 25, 1996.
(b) The election of Trustees of Van Kampen American Capital Corporate
Bond Fund (the "Fund") included:
None
(c) The following were voted on at the meeting:
(1) Approval of New Investment Advisory Agreement in the event
of a change of control of the Adviser.
For 19,291,707 Against 365,586
(2) Approval of changes to Fundamental Investment Policies with
respect to investments in other investment companies.
For 16,234,694 Against 472,830
(4) For each AC Fund, to Ratify the Selection of Price Waterhouse
LLP as Independent Public Accountants for its Current Fiscal
Year.
For 19,408,872 Against 276,465
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 11
<NAME> VKAC Corporate Bond Fund - Class A
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 185612199<F1>
<INVESTMENTS-AT-VALUE> 194963322<F1>
<RECEIVABLES> 3938972<F1>
<ASSETS-OTHER> 0<F1>
<OTHER-ITEMS-ASSETS> 7221<F1>
<TOTAL-ASSETS> 198909515<F1>
<PAYABLE-FOR-SECURITIES> 995140<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 1576274<F1>
<TOTAL-LIABILITIES> 2571414<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 174090608
<SHARES-COMMON-STOCK> 23447133
<SHARES-COMMON-PRIOR> 24501745
<ACCUMULATED-NII-CURRENT> 289897<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (23460533)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 9351123<F1>
<NET-ASSETS> 160742154
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 8260205<F1>
<OTHER-INCOME> 100000<F1>
<EXPENSES-NET> 1286023<F1>
<NET-INVESTMENT-INCOME> 7074182<F1>
<REALIZED-GAINS-CURRENT> (196842)<F1>
<APPREC-INCREASE-CURRENT> 6089298<F1>
<NET-CHANGE-FROM-OPS> 12966638<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (5827427)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1515849
<NUMBER-OF-SHARES-REDEEMED> (3144396)
<SHARES-REINVESTED> 573935
<NET-CHANGE-IN-ASSETS> (2195225)
<ACCUMULATED-NII-PRIOR> 148136<F1>
<ACCUMULATED-GAINS-PRIOR> (23263691)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 484128<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 1292523<F1>
<AVERAGE-NET-ASSETS> 165787542
<PER-SHARE-NAV-BEGIN> 6.650
<PER-SHARE-NII> .249
<PER-SHARE-GAIN-APPREC> .200
<PER-SHARE-DIVIDEND> (.243)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.856
<EXPENSE-RATIO> 1.14
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 12
<NAME> VKAC Corporate Bond Fund - Class B
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 185612199<F1>
<INVESTMENTS-AT-VALUE> 194963322<F1>
<RECEIVABLES> 3938972<F1>
<ASSETS-OTHER> 0<F1>
<OTHER-ITEMS-ASSETS> 7221<F1>
<TOTAL-ASSETS> 198909515<F1>
<PAYABLE-FOR-SECURITIES> 995140<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 1576274<F1>
<TOTAL-LIABILITIES> 2571414<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 30256021
<SHARES-COMMON-STOCK> 4359979
<SHARES-COMMON-PRIOR> 4055065
<ACCUMULATED-NII-CURRENT> 289897<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (23460533)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 9351123<F1>
<NET-ASSETS> 29843670
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 8260205<F1>
<OTHER-INCOME> 100000<F1>
<EXPENSES-NET> 1286023<F1>
<NET-INVESTMENT-INCOME> 7074182<F1>
<REALIZED-GAINS-CURRENT> (196842)<F1>
<APPREC-INCREASE-CURRENT> 6089298<F1>
<NET-CHANGE-FROM-OPS> 12966638<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (914125)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 845849
<NUMBER-OF-SHARES-REDEEMED> (627211)
<SHARES-REINVESTED> 86276
<NET-CHANGE-IN-ASSETS> 2911898
<ACCUMULATED-NII-PRIOR> 148136<F1>
<ACCUMULATED-GAINS-PRIOR> (23263691)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 484128<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 1292523<F1>
<AVERAGE-NET-ASSETS> 28788248
<PER-SHARE-NAV-BEGIN> 6.642
<PER-SHARE-NII> .220
<PER-SHARE-GAIN-APPREC> .200
<PER-SHARE-DIVIDEND> (.217)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.845
<EXPENSE-RATIO> 1.94
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 13
<NAME> VKAC Corporate Bond Fund - Class C
<MULTIPLIER> 1
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 185612199<F1>
<INVESTMENTS-AT-VALUE> 194963322<F1>
<RECEIVABLES> 3938972<F1>
<ASSETS-OTHER> 0<F1>
<OTHER-ITEMS-ASSETS> 7221<F1>
<TOTAL-ASSETS> 198909515<F1>
<PAYABLE-FOR-SECURITIES> 995140<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 1576274<F1>
<TOTAL-LIABILITIES> 2571414<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 5810985
<SHARES-COMMON-STOCK> 840629
<SHARES-COMMON-PRIOR> 894192
<ACCUMULATED-NII-CURRENT> 289897<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (23460533)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 9351123<F1>
<NET-ASSETS> 5752277
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 8260205<F1>
<OTHER-INCOME> 100000<F1>
<EXPENSES-NET> 1286023<F1>
<NET-INVESTMENT-INCOME> 7074182<F1>
<REALIZED-GAINS-CURRENT> (196842)<F1>
<APPREC-INCREASE-CURRENT> 6089298<F1>
<NET-CHANGE-FROM-OPS> 12966638<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (190869)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 86749
<NUMBER-OF-SHARES-REDEEMED> (153759)
<SHARES-REINVESTED> 13447
<NET-CHANGE-IN-ASSETS> (184551)
<ACCUMULATED-NII-PRIOR> 148136<F1>
<ACCUMULATED-GAINS-PRIOR> (23263691)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 484128<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 1292523<F1>
<AVERAGE-NET-ASSETS> 6065224
<PER-SHARE-NAV-BEGIN> 6.639
<PER-SHARE-NII> .219
<PER-SHARE-GAIN-APPREC> .202
<PER-SHARE-DIVIDEND> (.217)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.843
<EXPENSE-RATIO> 1.94
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
