<PAGE> PAGE 1
000 B000000 12/31/1999
000 C000000 0000080832
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 VAN KAMPEN EQUITY INCOME FUND
001 B000000 811-00919
001 C000000 6306846000
002 A000000 1 PARKVIEW PLAZA
002 B000000 OAKBROOK TERRACE
002 C000000 IL
002 D010000 60181
002 D020000 5555
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007 C011000 10
008 A000001 VAN KAMPEN ASSET MANAGEMENT INC.
008 B000001 A
008 C000001 801-8286
008 D010001 OAKBROOK TERRACE
008 D020001 IL
008 D030001 60181
008 D040001 5555
011 A000001 VAN KAMPEN FUNDS INC.
011 B000001 8-19903
011 C010001 OAKBROOK TERRACE
011 C020001 IL
011 C030001 60181
012 A000001 VAN KAMPEN INVESTOR SERVICES INC.
012 B000001 84-01621
012 C010001 KANSAS CITY
012 C020001 MO
012 C030001 64121
012 C040001 8256
<PAGE> PAGE 2
013 A000001 PRICEWATERHOUSECOOPERS LLP
013 B010001 CHICAGO
013 B020001 IL
013 B030001 60601
014 A000001 MORGAN STANLEY & CO., INCORPORATED
014 B000001 8-00733537
014 A000002 DEAN WITTER REYNOLDS, INC.
014 B000002 8-00728181
015 A000001 STATE STREET BANK & TRUST CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E010001 X
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019 C000000 VANKAMPENF
020 A000001 SMITH BARNEY
020 B000001 13-1912900
020 C000001 422
020 A000002 MERRILL LYNCH
020 B000002 13-5674085
020 C000002 390
020 A000003 DONALDSON LUFKIN JENNRETTE
020 B000003 13-2741729
020 C000003 262
020 A000004 BERNSTEIN SANFORD C&CO INC.
020 B000004 13-2625874
020 C000004 167
020 A000005 J.P. MORGAN SECURITIES
020 B000005 13-3224016
020 C000005 161
020 A000006 SBC WARBURG, DILLON READ INC
020 B000006 13-1339216
020 C000006 151
020 A000007 PAINEWEBBER
020 B000007 13-2638166
020 C000007 145
020 A000008 LEHMAN BROTHERS
020 B000008 13-2518466
020 C000008 111
020 A000009 DEUTSCHE BANK - ALEX BROWN
020 B000009 13-2944988
020 C000009 99
020 A000010 MORGAN STANLEY AND CO.
020 B000010 13-2655998
020 C000010 94
021 000000 2920
022 A000001 GENERAL ELECTRIC CAP CORP
022 B000001 06-1076552
<PAGE> PAGE 3
022 C000001 10060249
022 D000001 0
022 A000002 DONALDSON LUFKIN JENRETTE
022 B000002 13-2741729
022 C000002 3629272
022 D000002 7668
022 A000003 SBC WARBURG, DILLION READ
022 B000003 13-1339216
022 C000003 2522003
022 D000003 21670
022 A000004 STATE STREET BANK & TRUST
022 B000004 04-1867445
022 C000004 1583122
022 D000004 0
022 A000005 FUJI SECURITIES INC.
022 B000005 36-2880742
022 C000005 836191
022 D000005 4986
022 A000006 SMITH BARNEY
022 B000006 13-1912900
022 C000006 259164
022 D000006 137270
022 A000007 GOLDMAN SACHS
022 B000007 13-5108880
022 C000007 262905
022 D000007 128064
022 A000008 BA SECURITIES
022 B000008 95-4035346
022 C000008 311665
022 D000008 0
022 A000009 PRUDENTIAL FUNDING CORP.
022 B000009 22-2347336
022 C000009 270837
022 D000009 2683
022 A000010 PAINEWEBBER INC.
022 B000010 13-2638166
022 C000010 206134
022 D000010 28780
023 C000000 20496691
023 D000000 579694
024 000000 Y
025 A000001 BANK AMERICA CORP
025 B000001 95-4035346
025 C000001 E
025 D000001 10650
025 A000002 DLJ
025 B000002 13-2741729
025 C000002 D
025 D000002 52751
025 A000003 LEHMAN BROTHERS
025 B000003 13-2518466
<PAGE> PAGE 4
025 C000003 D
025 D000003 4674
025 A000004 GENERAL ELECTRIC CAP CORP
025 B000004 06-1076552
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025 D000004 2147
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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SIGNATURE SARA L. BADLER
TITLE ATTORNEY
Report of Independent Accountants
To the Shareholders and Board of Trustees of the Van Kampen Equity Income Fund:
In planning and performing our audit of the financial statements of Van Kampen
Equity Income Fund (the "Fund") for the year ended December 31, 1999, we
considered its internal control, including control activities for safeguarding
securities, in order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, not to provide assurance on internal control.
The management of the Fund is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that controls may become inadequate
because of changes in conditions or that the effectiveness of their design and
operation may deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may occur and not
be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
December 31, 1999.
This report is intended solely for the information and use of management and the
Board of Trustees of the Fund and the Securities and Exchange Commission and is
not intended to be and should not be used by anyone other than these specified
parties.
Chicago, Illinois
February 11, 2000
EQUITY INCOME FUND
A Joint Special Meeting of the Shareholders of the Portfolio was held on
December 15, 1999 where shareholders voted on the election of Trustees and the
ratification of PricewaterhouseCooper, as the independent public accountants.
With regard to the election of J. Miles Branagan, as elected trustee by the
shareholders of the Portfolio, 169,848,214 shares were voted in the affirmative
and 1,507,725 shares were withheld. With regard to the election of Jerry D.
Choate, as elected trustee by the shareholders of the Portfolio, 169,803,136
voted in the affirmative and 1,552,802 shares were withheld. With regard to the
election of Linda Hutton Heagy, as elected trustee by the shareholders of the
Portfolio, 169,821,118 shares were voted in the affirmative and 1,534,821 shares
were withheld. With regard to the election of R. Craig Kennedy, as elected
trustee by the shareholders of the Portfolio, 169,847,666 shares were voted in
the affirmative and 1,508,272 shares were withheld. With regard to the election
of Mitchell M. Merin, as elected trustee by the shareholders of the Portfolio,
169,834,268 shares were voted in the affirmative and 1,521,670 shares were
withheld. With regard to the election of Jack E. Nelson, as elected trustee by
the shareholders of the Portfolio, 169,829,394 shares were voted in the
affirmative and 1,526,544 shares were withheld. With regard to the election of
Richard F. Powers, III, as elected trustee by the shareholders of the Portfolio,
169,827,530 shares were voted in the affirmative and 1,528,408 shares were
withheld. With regard to the election of Phillip B. Rooney, as elected trustee
by the shareholders of the Portfolio, 169,819,043 shares were voted in the
affirmative and 1,536,896 shares were withheld. With regard to the election of
Fernando Sisto, as elected trustee by the shareholders of the Portfolio,
169,729,575 shares were voted in the affirmative and 1,626,363 shares were
withheld. With regard to the election of Wayne W. Whalen, as elected trustee by
the shareholders of the Portfolio, 169,841,467 shares were voted in the
affirmative and 1,514,471 shares were withheld. With regard to the election of
Suzanne H. Woolsey, as elected trustee by the shareholders of the Portfolio,
169,802,935 shares were voted in the affirmative and 1,553,004 shares were
withheld. With regard to the election of Paul G. Yovovich, as elected trustee by
the shareholders of the Portfolio 169,791,217 shares were voted in the
affirmative and 1,564,721 shares were withheld. With regard to the ratification
of PricewaterhouseCooper to act as independent public accountants for the
Portfolio, 168,251,931 shares were voted in the affirmative and 670,355 shares
were voted against the proposal and 2,433,651 shares abstained from voting.
NSAR ITEM 77O
VK Equity Income Fund
10f-3 Transactions
<TABLE>
<CAPTION>
UNDERWRITING # UNDERWRITING PURCHASED FROM AMOUNT OF SHARES % OF UNDERWRITING DATE OF PURCHASE
PURCHASED
<S> <C> <C> <C> <C> <C>
1 Sprint Capital Corp. Salomon Smith Barney 25,000,000 0.714% 04/29/99
2 Goldman Sachs Group, Inc. Goldman Sachs 72,400 0.105% 05/03/99
3 Nippon Telegraph and Telephone Corp. Schroeders 56,100 0.029% 11/08/99
ADS
</TABLE>
Other Underwriters in the syndicate for #1
- ------------------------------------------
Salomon Smith Barney
Warburg Dillon Read
ABN AMRO Incorporated
Credit Suisse First Boston Corporation
Lehman Brothers Inc.
J.P. Morgan Securities Inc.
Morgan Stnaley & Co. Incorporated
Deutsche Bank Securities Inc.
Utendahl Capital Partners, L.P.
Westdeutsche Landesbank Gironzentrale
The Williams Capital Group, L.P.
<PAGE>
Other Underwriters in the syndicate for #2
- ------------------------------------------
Goldman Sachs & Co.
Bear, Stearns & Co
Credit Suisse First Boston
Donaldson, Lufkin & Jenrette
Lehman Brothers
Merrill Lynch & Co.
J.P. Morgan & Co.
Morgan Stanley Dean Witter
Painewebber Incorporated
Purdential Securities
Salomon Smith Barney
Sanford C. Bernstein & Co., Inc.
Schroder & Co. Inc.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
<F1> This item relates to the Fund on a composite
basis and not on a class basis
</LEGEND>
<SERIES>
<NUMBER> 11
<NAME> EQUITY INCOME CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 2,010,118,486 <F1>
<INVESTMENTS-AT-VALUE> 2,305,294,703 <F1>
<RECEIVABLES> 15,721,932 <F1>
<ASSETS-OTHER> 0 <F1>
<OTHER-ITEMS-ASSETS> 25,585,541 <F1>
<TOTAL-ASSETS> 2,346,602,176 <F1>
<PAYABLE-FOR-SECURITIES> 843,813 <F1>
<SENIOR-LONG-TERM-DEBT> 0 <F1>
<OTHER-ITEMS-LIABILITIES> 8,128,865 <F1>
<TOTAL-LIABILITIES> 8,972,678 <F1>
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 904,904,813
<SHARES-COMMON-STOCK> 139,737,046
<SHARES-COMMON-PRIOR> 103,389,230
<ACCUMULATED-NII-CURRENT> 2,149,716 <F1>
<OVERDISTRIBUTION-NII> 0 <F1>
<ACCUMULATED-NET-GAINS> 48,694,994 <F1>
<OVERDISTRIBUTION-GAINS> 0 <F1>
<ACCUM-APPREC-OR-DEPREC> 300,292,488 <F1>
<NET-ASSETS> 1,068,481,700
<DIVIDEND-INCOME> 29,654,053 <F1>
<INTEREST-INCOME> 42,044,593 <F1>
<OTHER-INCOME> 0 <F1>
<EXPENSES-NET> (27,678,043)<F1>
<NET-INVESTMENT-INCOME> 44,020,603 <F1>
<REALIZED-GAINS-CURRENT> 241,662,054 <F1>
<APPREC-INCREASE-CURRENT> (77,977,281)<F1>
<NET-CHANGE-FROM-OPS> 207,705,376 <F1>
<EQUALIZATION> 0 <F1>
<DISTRIBUTIONS-OF-INCOME> (21,806,216)
<DISTRIBUTIONS-OF-GAINS> (95,603,166)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 184,426,601
<NUMBER-OF-SHARES-REDEEMED> (161,372,353)
<SHARES-REINVESTED> 13,293,568
<NET-CHANGE-IN-ASSETS> 260,027,172
<ACCUMULATED-NII-PRIOR> 1,525,318 <F1>
<ACCUMULATED-GAINS-PRIOR> 18,064,329 <F1>
<OVERDISTRIB-NII-PRIOR> 0 <F1>
<OVERDIST-NET-GAINS-PRIOR> 0 <F1>
<GROSS-ADVISORY-FEES> 8,101,825 <F1>
<INTEREST-EXPENSE> 0 <F1>
<GROSS-EXPENSE> 27,712,813 <F1>
<AVERAGE-NET-ASSETS> 946,197,244
<PER-SHARE-NAV-BEGIN> 7.820
<PER-SHARE-NII> 0.185
<PER-SHARE-GAIN-APPREC> 0.568
<PER-SHARE-DIVIDEND> (0.183)
<PER-SHARE-DISTRIBUTIONS> (0.744)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 7.646
<EXPENSE-RATIO> 0.82
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
<F1> This item relates to the Fund on a composite
basis and not on a class basis
</LEGEND>
<SERIES>
<NUMBER> 12
<NAME> EQUITY INCOME CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 2,010,118,486 <F1>
<INVESTMENTS-AT-VALUE> 2,305,294,703 <F1>
<RECEIVABLES> 15,721,932 <F1>
<ASSETS-OTHER> 0 <F1>
<OTHER-ITEMS-ASSETS> 25,585,541 <F1>
<TOTAL-ASSETS> 2,346,602,176 <F1>
<PAYABLE-FOR-SECURITIES> 843,813 <F1>
<SENIOR-LONG-TERM-DEBT> 0 <F1>
<OTHER-ITEMS-LIABILITIES> 8,128,865 <F1>
<TOTAL-LIABILITIES> 8,972,678 <F1>
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 975,836,016
<SHARES-COMMON-STOCK> 151,613,845
<SHARES-COMMON-PRIOR> 146,793,491
<ACCUMULATED-NII-CURRENT> 2,149,716 <F1>
<OVERDISTRIBUTION-NII> 0 <F1>
<ACCUMULATED-NET-GAINS> 48,694,994 <F1>
<OVERDISTRIBUTION-GAINS> 0 <F1>
<ACCUM-APPREC-OR-DEPREC> 300,292,488 <F1>
<NET-ASSETS> 1,148,898,362
<DIVIDEND-INCOME> 29,654,053 <F1>
<INTEREST-INCOME> 42,044,593 <F1>
<OTHER-INCOME> 0 <F1>
<EXPENSES-NET> (27,678,043)<F1>
<NET-INVESTMENT-INCOME> 44,020,603 <F1>
<REALIZED-GAINS-CURRENT> 241,662,054 <F1>
<APPREC-INCREASE-CURRENT> (77,977,281)<F1>
<NET-CHANGE-FROM-OPS> 207,705,376 <F1>
<EQUALIZATION> 0 <F1>
<DISTRIBUTIONS-OF-INCOME> (19,796,994)
<DISTRIBUTIONS-OF-GAINS> (104,683,398)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 33,847,881
<NUMBER-OF-SHARES-REDEEMED> (44,226,967)
<SHARES-REINVESTED> 15,199,440
<NET-CHANGE-IN-ASSETS> 8,855,481
<ACCUMULATED-NII-PRIOR> 1,525,318 <F1>
<ACCUMULATED-GAINS-PRIOR> 18,064,329 <F1>
<OVERDISTRIB-NII-PRIOR> 0 <F1>
<OVERDIST-NET-GAINS-PRIOR> 0 <F1>
<GROSS-ADVISORY-FEES> 8,101,825 <F1>
<INTEREST-EXPENSE> 0 <F1>
<GROSS-EXPENSE> 27,712,813 <F1>
<AVERAGE-NET-ASSETS> 1,154,865,988
<PER-SHARE-NAV-BEGIN> 7.766
<PER-SHARE-NII> 0.128
<PER-SHARE-GAIN-APPREC> 0.559
<PER-SHARE-DIVIDEND> (0.131)
<PER-SHARE-DISTRIBUTIONS> (0.744)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 7.578
<EXPENSE-RATIO> 1.58
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
<F1> This item relates to the Fund on a composite
basis and not on a class basis
</LEGEND>
<SERIES>
<NUMBER> 13
<NAME> EQUITY INCOME CLASS C
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 2,010,118,486 <F1>
<INVESTMENTS-AT-VALUE> 2,305,294,703 <F1>
<RECEIVABLES> 15,721,932 <F1>
<ASSETS-OTHER> 0 <F1>
<OTHER-ITEMS-ASSETS> 25,585,541 <F1>
<TOTAL-ASSETS> 2,346,602,176 <F1>
<PAYABLE-FOR-SECURITIES> 843,813 <F1>
<SENIOR-LONG-TERM-DEBT> 0 <F1>
<OTHER-ITEMS-LIABILITIES> 8,128,865 <F1>
<TOTAL-LIABILITIES> 8,972,678 <F1>
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 105,751,471
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</TABLE>
