<PAGE> PAGE 1
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001 C000000 6306846000
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002 B000000 OAKBROOK TERRACE
002 C000000 IL
002 D010000 60181
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007 C010700 7
007 C010800 8
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007 C011000 10
008 A000001 VAN KAMPEN AMERICAN CAPITAL ASSET MGT., INC.
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
015 C020001 MA
015 C030001 02110
015 E010001 X
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019 C000000 VANKAMPENA
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022 B000001 95-4035346
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022 C000002 720423
022 D000002 4950
022 A000003 DONALDSON LUFKIN JENNRETTE
022 B000003 13-2741729
022 C000003 703120
022 D000003 9955
022 A000004 SBC CAPITAL MARKETS INC.
022 B000004 13-2639550
022 C000004 503065
022 D000004 0
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022 A000007 J.P. MORGAN
022 B000007 13-3224016
022 C000007 23910
022 D000007 11296
<PAGE> PAGE 3
022 A000008 GRANTCHESTER SECURITIES INC.
022 B000008 13-3502273
022 C000008 19031
022 D000008 8144
022 A000009 FIRST BOSTON
022 B000009 13-5659485
022 C000009 22674
022 D000009 2018
022 A000010 BEAR STEARNS
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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 High Income 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 High Income
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 56,523,388 Against 959,069
(2) Approval of changes to Fundamental Investment Policies with
respect to investments in other investment companies.
For 47,302,536 Against 1,448,773
(4) For each AC Fund, to Ratify the Selection of Price Waterhouse
LLP as Independent Public Accountants for its Current Fiscal
Year.
For 57,068,831 Against 546,953
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 11
<NAME> VKAC High Income Corporate Bond - 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> 596383658<F1>
<INVESTMENTS-AT-VALUE> 626026438<F1>
<RECEIVABLES> 16843132<F1>
<ASSETS-OTHER> 27895<F1>
<OTHER-ITEMS-ASSETS> 3653<F1>
<TOTAL-ASSETS> 642901118<F1>
<PAYABLE-FOR-SECURITIES> 2200857<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 4622647<F1>
<TOTAL-LIABILITIES> 6823504<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 703565548
<SHARES-COMMON-STOCK> 70997440
<SHARES-COMMON-PRIOR> 66908746
<ACCUMULATED-NII-CURRENT> (127106)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (266702696)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 29642780<F1>
<NET-ASSETS> 460878554
<DIVIDEND-INCOME> 638804<F1>
<INTEREST-INCOME> 29350367<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (3782144)<F1>
<NET-INVESTMENT-INCOME> 26207027<F1>
<REALIZED-GAINS-CURRENT> 1882041<F1>
<APPREC-INCREASE-CURRENT> 18180731<F1>
<NET-CHANGE-FROM-OPS> 46269799<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (21740647)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9958369
<NUMBER-OF-SHARES-REDEEMED> (7953590)
<SHARES-REINVESTED> 2083915
<NET-CHANGE-IN-ASSETS> 39506668
<ACCUMULATED-NII-PRIOR> 2475568<F1>
<ACCUMULATED-GAINS-PRIOR> (268584737)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 1580456<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 3788444<F1>
<AVERAGE-NET-ASSETS> 436241868
<PER-SHARE-NAV-BEGIN> 6.298
<PER-SHARE-NII> .293
<PER-SHARE-GAIN-APPREC> .222
<PER-SHARE-DIVIDEND> (.321)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.492
<EXPENSE-RATIO> 1.09
<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 High Income Corporate Bond - 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> 596383658<F1>
<INVESTMENTS-AT-VALUE> 626026438<F1>
<RECEIVABLES> 16843132<F1>
<ASSETS-OTHER> 27895<F1>
<OTHER-ITEMS-ASSETS> 3653<F1>
<TOTAL-ASSETS> 642901118<F1>
<PAYABLE-FOR-SECURITIES> 2200857<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 4622647<F1>
<TOTAL-LIABILITIES> 6823504<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 147361307
<SHARES-COMMON-STOCK> 23518158
<SHARES-COMMON-PRIOR> 18157996
<ACCUMULATED-NII-CURRENT> (127106)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (266702696)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 29642780<F1>
<NET-ASSETS> 152925650
<DIVIDEND-INCOME> 638804<F1>
<INTEREST-INCOME> 29350367<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (3782144)<F1>
<NET-INVESTMENT-INCOME> 26207027<F1>
<REALIZED-GAINS-CURRENT> 1882041<F1>
<APPREC-INCREASE-CURRENT> 18180731<F1>
<NET-CHANGE-FROM-OPS> 46269799<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (6159016)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6534900
<NUMBER-OF-SHARES-REDEEMED> (1652782)
<SHARES-REINVESTED> 478044
<NET-CHANGE-IN-ASSETS> 38353747
<ACCUMULATED-NII-PRIOR> 2475568<F1>
<ACCUMULATED-GAINS-PRIOR> (268584737)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 1580456<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 3788444<F1>
<AVERAGE-NET-ASSETS> 131373858
<PER-SHARE-NAV-BEGIN> 6.310
<PER-SHARE-NII> .269
<PER-SHARE-GAIN-APPREC> .221
<PER-SHARE-DIVIDEND> (.297)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.503
<EXPENSE-RATIO> 1.87
<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 High Income Corporate Bond - 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> 596383658<F1>
<INVESTMENTS-AT-VALUE> 626026438<F1>
<RECEIVABLES> 16843132<F1>
<ASSETS-OTHER> 27895<F1>
<OTHER-ITEMS-ASSETS> 3653<F1>
<TOTAL-ASSETS> 642901118<F1>
<PAYABLE-FOR-SECURITIES> 2200857<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 4622647<F1>
<TOTAL-LIABILITIES> 6823504<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 22337781
<SHARES-COMMON-STOCK> 3440195
<SHARES-COMMON-PRIOR> 2780202
<ACCUMULATED-NII-CURRENT> (127106)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (266702696)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 29642780<F1>
<NET-ASSETS> 22273410
<DIVIDEND-INCOME> 638804<F1>
<INTEREST-INCOME> 29350367<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (3782144)<F1>
<NET-INVESTMENT-INCOME> 26207027<F1>
<REALIZED-GAINS-CURRENT> 1882041<F1>
<APPREC-INCREASE-CURRENT> 18180731<F1>
<NET-CHANGE-FROM-OPS> 46269799<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (910038)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1041925
<NUMBER-OF-SHARES-REDEEMED> (463925)
<SHARES-REINVESTED> 81993
<NET-CHANGE-IN-ASSETS> 4803686
<ACCUMULATED-NII-PRIOR> 2475568<F1>
<ACCUMULATED-GAINS-PRIOR> (268584737)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 1580456<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 3788444<F1>
<AVERAGE-NET-ASSETS> 19393408
<PER-SHARE-NAV-BEGIN> 6.284
<PER-SHARE-NII> .269
<PER-SHARE-GAIN-APPREC> .218
<PER-SHARE-DIVIDEND> (.297)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.474
<EXPENSE-RATIO> 1.87
<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>
