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<PAGE> PAGE 2
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SIGNATURE LESLIE L. OGG
TITLE VICE PRESIDENT
Exhibit 77D
For AXP Progressive Fund
At Board of Directors' meetings held on September 8-9, 1999, the following
investment policy was eliminated:
Under normal market conditions, the Fund does not intend to commit more
than 5% of its total assets to when-issued securities or forward commitments.
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<SERIES>
<NUMBER> 3
<NAME> AXP PROGRESSIVE FUND CLASS A
<S> <C>
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<PERIOD-END> MAR-31-2000
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<INVESTMENTS-AT-VALUE> 390,778,461
<RECEIVABLES> 7,444,544
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<NET-INVESTMENT-INCOME> 1,229,489
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<NAME> AXP PROGRESSIVE FUND CLASS B
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<SHARES-COMMON-STOCK> 8,309,077
<SHARES-COMMON-PRIOR> 11,820,951
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<OVERDISTRIBUTION-NII> 0
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<NET-ASSETS> 64,792,322
<DIVIDEND-INCOME> 3,440,999
<INTEREST-INCOME> 322,894
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<APPREC-INCREASE-CURRENT> 23,318,053
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<NUMBER-OF-SHARES-SOLD> 738,812
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<SHARES-REINVESTED> 237
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