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011 A00AA01 AMERICAN EXPRESS FINANCIAL ADVISORS INC.
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013 A00AA01 KPMG LLP
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<PAGE> PAGE 2
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SIGNATURE LESLIE L. OGG
TITLE VICE PRESIDENT
<TABLE> <S> <C>
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<NAME> AXP MANAGED ALLOCATION FUND CLASS B
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<SHARES-REINVESTED> 457279
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</TABLE>
Exhibit 77D
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.
