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SIGNATURE LESLIE L. OGG
TITLE VICE PRESIDENT
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<TOTAL-ASSETS> 2541690478
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 734377
<TOTAL-LIABILITIES> 734377
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2342916281
<SHARES-COMMON-STOCK> 70415279
<SHARES-COMMON-PRIOR> 67284516
<ACCUMULATED-NII-CURRENT> 330964
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 44491539
<ACCUM-APPREC-OR-DEPREC> 242200395
<NET-ASSETS> 634032767
<DIVIDEND-INCOME> 29146515
<INTEREST-INCOME> 3047386
<OTHER-INCOME> 0
<EXPENSES-NET> 14763645
<NET-INVESTMENT-INCOME> 17430256
<REALIZED-GAINS-CURRENT> (25510504)
<APPREC-INCREASE-CURRENT> 141189353
<NET-CHANGE-FROM-OPS> 133109105
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3028222
<DISTRIBUTIONS-OF-GAINS> 56896604
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8273381
<NUMBER-OF-SHARES-REDEEMED> 11746433
<SHARES-REINVESTED> 6603815
<NET-CHANGE-IN-ASSETS> (97474650)
<ACCUMULATED-NII-PRIOR> 1924753
<ACCUMULATED-GAINS-PRIOR> 212521757
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1622891
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 14838149
<AVERAGE-NET-ASSETS> 647111357
<PER-SHARE-NAV-BEGIN> 9.40
<PER-SHARE-NII> .04
<PER-SHARE-GAIN-APPREC> .43
<PER-SHARE-DIVIDEND> .04
<PER-SHARE-DISTRIBUTIONS> .83
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.00
<EXPENSE-RATIO> 1.70
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 6
<NAME> AXP DIVERSIFIED EQUITY INCOME FUND CLASS Y
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 2541690478
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2541690478
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 734377
<TOTAL-LIABILITIES> 734377
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2342916281
<SHARES-COMMON-STOCK> 2379764
<SHARES-COMMON-PRIOR> 2260601
<ACCUMULATED-NII-CURRENT> 330964
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 44491539
<ACCUM-APPREC-OR-DEPREC> 242200395
<NET-ASSETS> 21434203
<DIVIDEND-INCOME> 29146515
<INTEREST-INCOME> 3047386
<OTHER-INCOME> 0
<EXPENSES-NET> 14763645
<NET-INVESTMENT-INCOME> 17430256
<REALIZED-GAINS-CURRENT> (25510504)
<APPREC-INCREASE-CURRENT> 141189353
<NET-CHANGE-FROM-OPS> 133109105
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 185646
<DISTRIBUTIONS-OF-GAINS> 1851504
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 430259
<NUMBER-OF-SHARES-REDEEMED> 538963
<SHARES-REINVESTED> 227867
<NET-CHANGE-IN-ASSETS> (97474650)
<ACCUMULATED-NII-PRIOR> 1924753
<ACCUMULATED-GAINS-PRIOR> 212521757
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 55751
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 14838149
<AVERAGE-NET-ASSETS> 21299132
<PER-SHARE-NAV-BEGIN> 9.40
<PER-SHARE-NII> .07
<PER-SHARE-GAIN-APPREC> .45
<PER-SHARE-DIVIDEND> .08
<PER-SHARE-DISTRIBUTIONS> .83
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.01
<EXPENSE-RATIO> .77
</TABLE>
EXHIBIT 77D for AXP Investment Series, Inc.
At the Board of Directors meetings held on September 8-9, 1999, the following
investment policy was eliminated for AXP Diversified Equity Income Fund and AXP
Mutual:
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.
