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AXP Managed Allocation Fund (Nov. 27, 1998) S-6141-99 N (11/98) (Formerly known as IDS Managed Allocation Fund) The investment policies have been modified as follows: o Eliminating the 10% minimum investment in foreign equity securities. S-6141- 31 A(8/99) *Valid until next prospectus update Destroy Nov. 29, 1999
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