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076 000300 0.00
SIGNATURE LESLIE L. OGG
TITLE VICE PRESIDENT
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<NAME> AXP EQUITY VALUE FUND CLASS A
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<NAME> AXP EQUITY VALUE FUND CLASS B
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<SERIES>
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<NAME> AXP EQUITY VALUE FUND CLASS Y
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<SERIES>
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<NAME> AXP STRATEGY AGGRESSIVE FUND CLASS A
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<SERIES>
<NUMBER> 5
<NAME> AXP STRATEGY AGGRESSIVE FUND CLASS B
<S> <C>
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<TABLE> <S> <C>
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<NUMBER> 6
<NAME> AXP STRATEGY AGGRESSIVE FUND CLASS Y
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</TABLE>
<TABLE> <S> <C>
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<NUMBER> 7
<NAME> AXP SMALL CAP ADVANTAGE FUND CLASS A
<S> <C>
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<INVESTMENTS-AT-COST> 137138747
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<ACCUMULATED-NET-GAINS> 1989234
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1748454)
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<DIVIDEND-INCOME> 158162
<INTEREST-INCOME> 125970
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<NET-INVESTMENT-INCOME> (122779)
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<APPREC-INCREASE-CURRENT> (1748454)
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<EQUALIZATION> 0
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<GROSS-EXPENSE> 551370
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<PER-SHARE-GAIN-APPREC> .16
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<PER-SHARE-NAV-END> 5.16
<EXPENSE-RATIO> 1.33
</TABLE>
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<ARTICLE> 6
<SERIES>
<NUMBER> 8
<NAME> AXP SMALL CAP ADVANTAGE FUND CLASS B
<S> <C>
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<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 137138747
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<ACCUMULATED-NET-GAINS> 1989234
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<EXPENSE-RATIO> 2.10
</TABLE>
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<SERIES>
<NUMBER> 9
<NAME> AXP SMALL CAP ADVANTAGE FUND CLASS Y
<S> <C>
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<SHARES-COMMON-STOCK> 400
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<EXPENSE-RATIO> 1.13
</TABLE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 1
IDS FUNDS
IDS STRATEGY FUND, INC.
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
1. Election of Board members.
H. Brewster Atwater, Jr.
Affirmative 146,832,323.348 51.032% 97.815%
Withhold 3,280,714.306 1.140% 2.185%
TOTAL 150,113,037.654 52.172% 100.000%
Arne H. Carlson
Affirmative 146,440,319.602 50.896% 97.553%
Withhold 3,672,718.052 1.276% 2.447%
TOTAL 150,113,037.654 52.172% 100.000%
Lynne V. Cheney
Affirmative 146,806,058.961 51.023% 97.797%
Withhold 3,306,978.693 1.149% 2.203%
TOTAL 150,113,037.654 52.172% 100.000%
William H. Dudley
Affirmative 146,869,384.454 51.045% 97.839%
Withhold 3,243,653.200 1.127% 2.161%
TOTAL 150,113,037.654 52.172% 100.000%
David R. Hubers
Affirmative 146,918,700.577 51.062% 97.872%
Withhold 3,194,337.077 1.110% 2.128%
TOTAL 150,113,037.654 52.172% 100.000%
Heinz F. Hutter
Affirmative 146,831,470.957 51.031% 97.814%
Withhold 3,281,566.697 1.141% 2.186%
TOTAL 150,113,037.654 52.172% 100.000%
Anne P. Jones
Affirmative 146,853,093.077 51.039% 97.828%
Withhold 3,259,944.577 1.133% 2.172%
TOTAL 150,113,037.654 52.172% 100.000%
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 2
IDS FUNDS
IDS STRATEGY FUND, INC.
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
William R. Pearce
Affirmative 146,765,630.104 51.009% 97.770%
Withhold 3,347,407.550 1.163% 2.230%
TOTAL 150,113,037.654 52.172% 100.000%
Alan K. Simpson
Affirmative 146,713,626.817 50.991% 97.735%
Withhold 3,399,410.837 1.181% 2.265%
TOTAL 150,113,037.654 52.172% 100.000%
John R. Thomas
Affirmative 146,916,092.062 51.061% 97.870%
Withhold 3,196,945.592 1.111% 2.130%
TOTAL 150,113,037.654 52.172% 100.000%
C. Angus Wurtele
Affirmative 146,847,374.138 51.037% 97.825%
Withhold 3,265,663.516 1.135% 2.175%
TOTAL 150,113,037.654 52.172% 100.000%
2. Ratify the selection of independent auditors
Affirmative 145,255,975.294 50.484% 96.764%
Against 2,070,760.156 .720% 1.380%
Abstain 2,786,302.204 .968% 1.856%
TOTAL 150,113,037.654 52.172% 100.000%
3. Change the Fund name from "IDS" to "AXP"
Affirmative 135,535,499.601 47.106% 90.289%
Against 11,439,206.497 3.975% 7.620%
Abstain 3,138,331.556 1.091% 2.091%
TOTAL 150,113,037.654 52.172% 100.000%
SHAREHOLDER RESPONSE SUMMARY REPORT Page 3
IDS FUNDS
IDS STRATEGY FUND, INC.
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
** FUND TOTALS: SHARES
RECORD TOTAL 287,727,257.587
VOTED SHARES 150,113,037.654
PERCENT VOTED 52.172%
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 1
IDS FUNDS
IDS EQUITY VALUE FUND
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
1. Election of Board members.
H. Brewster Atwater, Jr.
Affirmative 115,402,739.027 51.379% 97.975%
Withhold 2,385,543.267 1.062% 2.025%
TOTAL 117,788,282.294 52.441% 100.000%
Arne H. Carlson
Affirmative 115,061,717.388 51.227% 97.685%
Withhold 2,726,564.906 1.214% 2.315%
TOTAL 117,788,282.294 52.441% 100.000%
Lynne V. Cheney
Affirmative 115,347,931.657 51.354% 97.928%
Withhold 2,440,350.637 1.087% 2.072%
TOTAL 117,788,282.294 52.441% 100.000%
William H. Dudley
Affirmative 115,402,454.036 51.378% 97.974%
Withhold 2,385,828.258 1.063% 2.026%
TOTAL 117,788,282.294 52.441% 100.000%
David R. Hubers
Affirmative 115,438,253.747 51.394% 98.005%
Withhold 2,350,028.547 1.047% 1.995%
TOTAL 117,788,282.294 52.441% 100.000%
Heinz F. Hutter
Affirmative 115,371,908.740 51.365% 97.949%
Withhold 2,416,373.554 1.076% 2.051%
TOTAL 117,788,282.294 52.441% 100.000%
Anne P. Jones
Affirmative 115,393,854.789 51.375% 97.967%
Withhold 2,394,427.505 1.066% 2.033%
TOTAL 117,788,282.294 52.441% 100.000%
SHAREHOLDER RESPONSE SUMMARY REPORT Page 2
IDS FUNDS
IDS EQUITY VALUE FUND
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
William R. Pearce
Affirmative 115,326,430.442 51.345% 97.910%
Withhold 2,461,851.852 1.096% 2.090%
TOTAL 117,788,282.294 52.441% 100.000%
Alan K. Simpson
Affirmative 115,276,013.762 51.322% 97.867%
Withhold 2,512,268.532 1.119% 2.133%
TOTAL 117,788,282.294 52.441% 100.000%
John R. Thomas
Affirmative 115,438,048.754 51.394% 98.005%
Withhold 2,350,233.540 1.047% 1.995%
TOTAL 117,788,282.294 52.441% 100.000%
C. Angus Wurtele
Affirmative 115,387,497.194 51.372% 97.962%
Withhold 2,400,785.100 1.069% 2.038%
TOTAL 117,788,282.294 52.441% 100.000%
2. Ratify the selection of independent auditors
Affirmative 114,098,966.525 50.798% 96.868%
Against 1,554,236.605 .692% 1.319%
Abstain 2,135,079.164 .951% 1.813%
TOTAL 117,788,282.294 52.441% 100.000%
3. Change the Fund name from "IDS" to "AXP"
Affirmative 106,504,083.925 47.417% 90.420%
Against 8,891,519.700 3.958% 7.549%
Abstain 2,392,678.669 1.066% 2.031%
TOTAL 117,788,282.294 52.441% 100.000%
SHAREHOLDER RESPONSE SUMMARY REPORT Page 3
IDS FUNDS
IDS EQUITY VALUE FUND
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
5. Approve changes to the Investment Management Services
Agreement
Affirmative 102,814,470.941 45.774% 87.770%
Against 9,753,853.859 4.343% 8.326%
Abstain 4,573,022.494 2.036% 3.904%
TOTAL 117,141,347.294 52.153% 100.000%
Not Voting 646,935.000
6. Changes to investment policies
6.1 Prohibited conflict of interest
Affirmative 107,415,665.544 47.823% 91.697%
Against 5,421,618.449 2.413% 4.629%
Abstain 4,304,063.301 1.917% 3.674%
TOTAL 117,141,347.294 52.153% 100.000%
Not Voting 646,935.000
6.2 Senior securities
Affirmative 107,262,681.029 47.754% 91.567%
Against 5,482,242.368 2.441% 4.680%
Abstain 4,396,423.897 1.958% 3.753%
TOTAL 117,141,347.294 52.153% 100.000%
Not Voting 646,935.000
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 4
IDS FUNDS
IDS EQUITY VALUE FUND
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
** FUND TOTALS: SHARES
RECORD TOTAL 224,612,723.463
VOTED SHARES 117,788,282.294
PERCENT VOTED 52.441%
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 1
IDS FUNDS
IDS EQUITY VALUE FUND CLASS B
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
4. Approve a new shareholder service and distribution plan
Affirmative 65,855,962.051 45.343% 87.829%
Against 6,353,118.568 4.374% 8.473%
Abstain 2,773,044.144 1.909% 3.698%
TOTAL 74,982,124.763 51.626% 100.000%
Not Voting 6,564.000
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 2
IDS FUNDS
IDS EQUITY VALUE FUND CLASS B
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
** FUND TOTALS: SHARES
RECORD TOTAL 145,239,814.371
VOTED SHARES 74,988,688.763
PERCENT VOTED 51.631%
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 1
IDS FUNDS
IDS EQUITY VALUE FUND CLASSES A & B
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
4. Approve a new shareholder service and distribution plan
Affirmative 102,581,798.189 45.688% 87.635%
Against 10,169,681.457 4.529% 8.688%
Abstain 4,304,555.616 1.917% 3.677%
TOTAL 117,056,035.262 52.134% 100.000%
Not Voting 646,935.000
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 2
IDS FUNDS
IDS EQUITY VALUE FUND CLASSES A & B
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
** FUND TOTALS: SHARES
RECORD TOTAL 224,527,411.431
VOTED SHARES 117,702,970.262
PERCENT VOTED 52.423%
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 1
IDS FUNDS
IDS STRATEGY AGGRESSIVE FUND
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
1. Election of Board members.
H. Brewster Atwater, Jr.
Affirmative 31,429,584.321 49.798% 97.231%
Withhold 895,171.039 1.418% 2.769%
TOTAL 32,324,755.360 51.216% 100.000%
Arne H. Carlson
Affirmative 31,378,602.214 49.717% 97.073%
Withhold 946,153.146 1.499% 2.927%
TOTAL 32,324,755.360 51.216% 100.000%
Lynne V. Cheney
Affirmative 31,458,127.304 49.843% 97.319%
Withhold 866,628.056 1.373% 2.681%
TOTAL 32,324,755.360 51.216% 100.000%
William H. Dudley
Affirmative 31,466,930.418 49.857% 97.346%
Withhold 857,824.942 1.359% 2.654%
TOTAL 32,324,755.360 51.216% 100.000%
David R. Hubers
Affirmative 31,480,446.830 49.878% 97.388%
Withhold 844,308.530 1.338% 2.612%
TOTAL 32,324,755.360 51.216% 100.000%
Heinz F. Hutter
Affirmative 31,459,562.217 49.845% 97.323%
Withhold 865,193.143 1.371% 2.677%
TOTAL 32,324,755.360 51.216% 100.000%
Anne P. Jones
Affirmative 31,459,238.288 49.845% 97.322%
Withhold 865,517.072 1.371% 2.678%
TOTAL 32,324,755.360 51.216% 100.000%
SHAREHOLDER RESPONSE SUMMARY REPORT Page 2
IDS FUNDS
IDS STRATEGY AGGRESSIVE FUND
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
William R. Pearce
Affirmative 31,439,199.662 49.813% 97.260%
Withhold 885,555.698 1.403% 2.740%
TOTAL 32,324,755.360 51.216% 100.000%
Alan K. Simpson
Affirmative 31,437,613.055 49.810% 97.256%
Withhold 887,142.305 1.406% 2.744%
TOTAL 32,324,755.360 51.216% 100.000%
John R. Thomas
Affirmative 31,478,043.308 49.874% 97.381%
Withhold 846,712.052 1.342% 2.619%
TOTAL 32,324,755.360 51.216% 100.000%
C. Angus Wurtele
Affirmative 31,459,876.944 49.846% 97.324%
Withhold 864,878.416 1.370% 2.676%
TOTAL 32,324,755.360 51.216% 100.000%
2. Ratify the selection of independent auditors
Affirmative 31,157,008.769 49.366% 96.387%
Against 516,523.551 .818% 1.598%
Abstain 651,223.040 1.032% 2.015%
TOTAL 32,324,755.360 51.216% 100.000%
3. Change the Fund name from "IDS" to "AXP"
Affirmative 29,031,415.676 45.998% 89.812%
Against 2,547,686.797 4.037% 7.881%
Abstain 745,652.887 1.181% 2.307%
TOTAL 32,324,755.360 51.216% 100.000%
SHAREHOLDER RESPONSE SUMMARY REPORT Page 3
IDS FUNDS
IDS STRATEGY AGGRESSIVE FUND
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
5. Approve changes to the Investment Management Services
Agreement
Affirmative 27,927,027.866 44.248% 86.877%
Against 2,963,922.290 4.696% 9.220%
Abstain 1,254,479.204 1.988% 3.903%
TOTAL 32,145,429.360 50.932% 100.000%
Not Voting 179,326.000
6. Changes to investment policies
6.1 Prohibited conflict of interest
Affirmative 29,379,174.136 46.549% 91.395%
Against 1,582,786.252 2.508% 4.923%
Abstain 1,183,468.972 1.875% 3.682%
TOTAL 32,145,429.360 50.932% 100.000%
Not Voting 179,326.000
6.2 Senior securities
Affirmative 29,339,791.770 46.487% 91.272%
Against 1,591,923.393 2.522% 4.952%
Abstain 1,213,714.197 1.923% 3.776%
TOTAL 32,145,429.360 50.932% 100.000%
Not Voting 179,326.000
7. Approve a Subadvisory Agreement
Affirmative 29,365,526.941 46.527% 90.845%
Against 1,565,283.958 2.480% 4.843%
Abstain 1,393,944.461 2.209% 4.312%
TOTAL 32,324,755.360 51.216% 100.000%
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 4
IDS FUNDS
IDS STRATEGY AGGRESSIVE FUND
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
** FUND TOTALS: SHARES
RECORD TOTAL 63,114,534.124
VOTED SHARES 32,324,755.360
PERCENT VOTED 51.216%
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 1
IDS FUNDS
IDS STRATEGY AGGRESSIVE FUND CLASS B
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
4. Approve a new shareholder service and distribution plan
Affirmative 15,924,983.069 43.701% 87.061%
Against 1,657,593.316 4.549% 9.062%
Abstain 709,114.039 1.946% 3.877%
TOTAL 18,291,690.424 50.196% 100.000%
Not Voting 474.000
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 2
IDS FUNDS
IDS STRATEGY AGGRESSIVE FUND CLASS B
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
** FUND TOTALS: SHARES
RECORD TOTAL 36,440,686.746
VOTED SHARES 18,292,164.424
PERCENT VOTED 50.197%
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 1
IDS FUNDS
IDS STRATEGY AGGRESSIVE FUND CLASSES A & B
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
4. Approve a new shareholder service and distribution plan
Affirmative 27,876,134.341 44.168% 86.719%
Against 3,054,242.634 4.839% 9.501%
Abstain 1,214,957.116 1.925% 3.780%
TOTAL 32,145,334.091 50.932% 100.000%
Not Voting 179,326.000
<PAGE>
SHAREHOLDER RESPONSE SUMMARY REPORT Page 2
IDS FUNDS
IDS STRATEGY AGGRESSIVE FUND CLASSES A & B
June 30, 1999
% of Outstanding % of Shares
No. of Shares Shares Voted
--------------- ---------------- ----------------
** FUND TOTALS: SHARES
RECORD TOTAL 63,114,438.855
VOTED SHARES 32,324,660.091
PERCENT VOTED 51.216%
EXHIBIT 77D for AXP Strategy Series, Inc.
At the 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.
Exhibit 77I
AXP Small Cap Advantage Fund is a new series of AXP Strategy Series, Inc. as of
April 7, 1999. Please refer to Post-Effective Amendment No. 33 to Registration
Statement No. 2-89288/811-3956 for more information regarding this fund.
Thank you.
