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Prospectus Supplement, November 17, 1994
IDS Life Series Fund (October 28 1994) S- 6191 H(10/94)
Equity Portfolio
Government Securities Portfolio
Income Portfolio
Managed Portfolio
Money Market Portfolio
IDS Life Variable Annuity Fund A (April 29, 1994) S-6164 E (4/94)
IDS Life Variable Annuity Fund B (April 29, 1994) S-6165 E (4/94)
SHAREHOLDER MEETINGS
At the regular meetings held on November 9, 1994, shareholders of
the funds listed voted on the following proposals:
1. Master-Feeder Investment Policy.
At some future time, the Board may determine that it is in the best
interest of the Fund and its shareholders to create what is known
as a master/feeder fund structure. This structure allows several
investment companies and other investment groups, including pension
plans and trust accounts, to have their investment portfolios
managed as a combined pool called the master fund. The purpose of
the structure is to achieve operational efficiencies. Shareholders
approved a new investment policy permitting the structure if the
Board decides it is appropriate.
The section of the prospectus titled "How the fund is organized" is
modified by adding the following:
At some time in the future, the Board of the fund may
decide to convert to a master/feeder structure. If the
Board makes that decision, the fund would seek to
achieve its goal by investing all of its assets in
another investment company with the same goal as the
fund, rather than investing directly in a portfolio of
securities.
2. Changes in Fundamental Policies.
Shareholders changed the status of a number of policies from
fundamental (changeable only with shareholder approval) to
nonfundamental (changeable by the Board without shareholder vote).
Policies voted on include those regarding: buying on margin or
selling short; pledging assets as collateral; investing in issuers
with less than 3 years of operating history; investing in other
investment companies; investing for purposes of exercising control
or management; investing in oil, gas or mineral exploration or
development programs; investing in warrants; investing in illiquid
securities; and investing in interest rate futures contracts.
In addition, shareholders approved a revision in the fundamental
policy on making loans to permit the fund to make cash loans up to
5% of its total assets. Shareholders of Life Series portfolios
approved a revision in the policy on investing in real estate to
clarify that the Fund may invest in securities or other instruments
backed by real estate or securities of companies engaged in the<PAGE>
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real estate business; and a revision in the policy on investing in
commodities to clarify that the Fund may invest in securities or
other instruments backed by, or whose value is derived from,
physical commodities.
3. Articles of Incorporation
Shareholders of Life Series approved modifications of the articles
of incorporation to make clear that the Fund can issue classes and
series of stock and to limit liability of directors.
NAME CHANGES OF ADVISOR, DISTRIBUTOR AND CUSTODIAN
Effective January 1, 1995, the name of IDS Financial Corporation
will be changed to American Express Financial Corporation. The
name of IDS Financial Services Inc. will be changed to American
Express Financial Advisors Inc. The name of the custodian will be
changed from IDS Trust Company to American Express Trust Company.
S-6509 C (11/94)
*Valid until next prospectus update.
