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<PAGE> PAGE 21
041 000500 Y
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055 A000500 N
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056 000500 N
057 000500 N
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059 000500 Y
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<PAGE> PAGE 22
062 H000500 0.0
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062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 0.0
062 P000500 0.0
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062 R000500 0.0
066 A000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 N
070 A020500 N
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 N
070 J020500 N
070 K010500 N
070 K020500 N
070 L010500 N
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 N
070 N020500 N
070 O010500 N
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<PAGE> PAGE 23
070 R020500 N
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<PAGE> PAGE 24
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SIGNATURE LESLIE L. OGG
TITLE VICE PRESIDENT
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<NAME> IDS GLOBAL GROWTH FUND CLASS Y
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<NAME> IDS GLOBAL BOND FUND CLASS Y
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<NAME> IDS INNOVATIONS FUND CLASS A
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<NAME> IDS INNOVATIONS FUND CLASS B
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<NET-CHANGE-IN-ASSETS> 101421
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<OVERDIST-NET-GAINS-PRIOR> 244889
<GROSS-ADVISORY-FEES> 1432
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<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 112869
<PER-SHARE-NAV-BEGIN> 5.23
<PER-SHARE-NII> (0.11)
<PER-SHARE-GAIN-APPREC> .21
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<EXPENSE-RATIO> 2.08
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 9
<NAME> IDS INNOVATIONS FUND CLASS Y
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 0
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<RECEIVABLES> 20
<ASSETS-OTHER> 3812993
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3813013
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<OTHER-ITEMS-LIABILITIES> 25712
<TOTAL-LIABILITIES> 25712
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<PAID-IN-CAPITAL-COMMON> 3406266
<SHARES-COMMON-STOCK> 20000
<SHARES-COMMON-PRIOR> 20000
<ACCUMULATED-NII-CURRENT> 70
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 343832
<ACCUM-APPREC-OR-DEPREC> 724797
<NET-ASSETS> 108255
<DIVIDEND-INCOME> 1506
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<EXPENSES-NET> 53838
<NET-INVESTMENT-INCOME> (52328)
<REALIZED-GAINS-CURRENT> (98943)
<APPREC-INCREASE-CURRENT> 252692
<NET-CHANGE-FROM-OPS> 101421
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<AVERAGE-NET-ASSETS> 114099
<PER-SHARE-NAV-BEGIN> 5.27
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 10
<NAME> IDS EMERGING MARKETS FUND CLASS A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 0
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<OTHER-ITEMS-ASSETS> 284560828
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<OTHER-ITEMS-LIABILITIES> 34398
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<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 409
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 138453248
<ACCUM-APPREC-OR-DEPREC> (59520745)
<NET-ASSETS> 187095348
<DIVIDEND-INCOME> 6710691
<INTEREST-INCOME> 3469190
<OTHER-INCOME> 0
<EXPENSES-NET> 8082149
<NET-INVESTMENT-INCOME> 2097732
<REALIZED-GAINS-CURRENT> (139214944)
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<NUMBER-OF-SHARES-SOLD> 51479915
<NUMBER-OF-SHARES-REDEEMED> 44030447
<SHARES-REINVESTED> 1259650
<NET-CHANGE-IN-ASSETS> (73100823)
<ACCUMULATED-NII-PRIOR> 3766
<ACCUMULATED-GAINS-PRIOR> 8086729
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<GROSS-EXPENSE> 8098518
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<PER-SHARE-NAV-BEGIN> 5.33
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> (1.79)
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<PER-SHARE-NAV-END> 3.44
<EXPENSE-RATIO> 1.93
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 11
<NAME> IDS EMERGING MARKETS FUND CLASS B
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 0
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<OTHER-ITEMS-ASSETS> 284560828
<TOTAL-ASSETS> 284560828
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 34398
<TOTAL-LIABILITIES> 34398
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 482500832
<SHARES-COMMON-STOCK> 28704494
<SHARES-COMMON-PRIOR> 21610694
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 409
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 138453248
<ACCUM-APPREC-OR-DEPREC> (59520745)
<NET-ASSETS> 97379486
<DIVIDEND-INCOME> 6710691
<INTEREST-INCOME> 3469190
<OTHER-INCOME> 0
<EXPENSES-NET> 8082149
<NET-INVESTMENT-INCOME> 2097732
<REALIZED-GAINS-CURRENT> (139214944)
<APPREC-INCREASE-CURRENT> (10110207)
<NET-CHANGE-FROM-OPS> (147227419)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 3376992
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<NUMBER-OF-SHARES-SOLD> 14823640
<NUMBER-OF-SHARES-REDEEMED> 8384612
<SHARES-REINVESTED> 654772
<NET-CHANGE-IN-ASSETS> (73100823)
<ACCUMULATED-NII-PRIOR> 3766
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<GROSS-EXPENSE> 8098518
<AVERAGE-NET-ASSETS> 124965867
<PER-SHARE-NAV-BEGIN> 5.29
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> (1.76)
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<EXPENSE-RATIO> 2.71
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 12
<NAME> IDS EMERGING MARKETS FUND CLASS Y
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 0
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<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 284560828
<TOTAL-ASSETS> 284560828
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<OTHER-ITEMS-LIABILITIES> 34398
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<SHARES-COMMON-STOCK> 14972
<SHARES-COMMON-PRIOR> 200
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<OVERDISTRIBUTION-NII> 409
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 138453248
<ACCUM-APPREC-OR-DEPREC> (59520745)
<NET-ASSETS> 51596
<DIVIDEND-INCOME> 6710691
<INTEREST-INCOME> 3469190
<OTHER-INCOME> 0
<EXPENSES-NET> 8082149
<NET-INVESTMENT-INCOME> 2097732
<REALIZED-GAINS-CURRENT> (139214944)
<APPREC-INCREASE-CURRENT> (10110207)
<NET-CHANGE-FROM-OPS> (147227419)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 28
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<NUMBER-OF-SHARES-SOLD> 14979
<NUMBER-OF-SHARES-REDEEMED> 212
<SHARES-REINVESTED> 5
<NET-CHANGE-IN-ASSETS> (73100823)
<ACCUMULATED-NII-PRIOR> 3766
<ACCUMULATED-GAINS-PRIOR> 8086729
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 873
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8098518
<AVERAGE-NET-ASSETS> 31295
<PER-SHARE-NAV-BEGIN> 5.33
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> (1.78)
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<PER-SHARE-NAV-END> 3.45
<EXPENSE-RATIO> 1.86
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 13
<NAME> IDS GLOBAL BALANCED FUND CLASS A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 100315124
<INVESTMENTS-AT-VALUE> 106359557
<RECEIVABLES> 1287509
<ASSETS-OTHER> 947855
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 108594921
<PAYABLE-FOR-SECURITIES> 859789
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 291142
<TOTAL-LIABILITIES> 1150931
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 100921625
<SHARES-COMMON-STOCK> 10967050
<SHARES-COMMON-PRIOR> 5746637
<ACCUMULATED-NII-CURRENT> 212458
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 246432
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5877635
<NET-ASSETS> 63499589
<DIVIDEND-INCOME> 586174
<INTEREST-INCOME> 2100348
<OTHER-INCOME> 0
<EXPENSES-NET> 1429435
<NET-INVESTMENT-INCOME> 1257087
<REALIZED-GAINS-CURRENT> 299267
<APPREC-INCREASE-CURRENT> 4486751
<NET-CHANGE-FROM-OPS> 6043105
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 929021
<DISTRIBUTIONS-OF-GAINS> 81058
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6478414
<NUMBER-OF-SHARES-REDEEMED> 1426496
<SHARES-REINVESTED> 168495
<NET-CHANGE-IN-ASSETS> 57621406
<ACCUMULATED-NII-PRIOR> 89907
<ACCUMULATED-GAINS-PRIOR> 139386
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 636039
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1486402
<AVERAGE-NET-ASSETS> 48641145
<PER-SHARE-NAV-BEGIN> 5.33
<PER-SHARE-NII> .10
<PER-SHARE-GAIN-APPREC> .48
<PER-SHARE-DIVIDEND> .11
<PER-SHARE-DISTRIBUTIONS> .01
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 5.79
<EXPENSE-RATIO> 1.49
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 14
<NAME> IDS GLOBAL BALANCED FUND CLASS B
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 100315124
<INVESTMENTS-AT-VALUE> 106359557
<RECEIVABLES> 1287509
<ASSETS-OTHER> 947855
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 108594921
<PAYABLE-FOR-SECURITIES> 859789
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 291142
<TOTAL-LIABILITIES> 1150931
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 100921625
<SHARES-COMMON-STOCK> 7616707
<SHARES-COMMON-PRIOR> 3613839
<ACCUMULATED-NII-CURRENT> 212458
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 246432
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5877635
<NET-ASSETS> 43943196
<DIVIDEND-INCOME> 586174
<INTEREST-INCOME> 2100348
<OTHER-INCOME> 0
<EXPENSES-NET> 1429435
<NET-INVESTMENT-INCOME> 1257087
<REALIZED-GAINS-CURRENT> 299267
<APPREC-INCREASE-CURRENT> 4486751
<NET-CHANGE-FROM-OPS> 6043105
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 390897
<DISTRIBUTIONS-OF-GAINS> 51691
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4626191
<NUMBER-OF-SHARES-REDEEMED> 700458
<SHARES-REINVESTED> 77135
<NET-CHANGE-IN-ASSETS> 57621406
<ACCUMULATED-NII-PRIOR> 89907
<ACCUMULATED-GAINS-PRIOR> 139386
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 636039
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1486402
<AVERAGE-NET-ASSETS> 32087132
<PER-SHARE-NAV-BEGIN> 5.31
<PER-SHARE-NII> .06
<PER-SHARE-GAIN-APPREC> .48
<PER-SHARE-DIVIDEND> .07
<PER-SHARE-DISTRIBUTIONS> .01
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 5.77
<EXPENSE-RATIO> 2.25
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 15
<NAME> IDS GLOBAL BALANCED FUND CLASS Y
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 100315124
<INVESTMENTS-AT-VALUE> 106359557
<RECEIVABLES> 1287509
<ASSETS-OTHER> 947855
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 108594921
<PAYABLE-FOR-SECURITIES> 859789
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 291142
<TOTAL-LIABILITIES> 1150931
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 100921625
<SHARES-COMMON-STOCK> 208
<SHARES-COMMON-PRIOR> 203
<ACCUMULATED-NII-CURRENT> 212458
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 246432
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5877635
<NET-ASSETS> 1205
<DIVIDEND-INCOME> 586174
<INTEREST-INCOME> 2100348
<OTHER-INCOME> 0
<EXPENSES-NET> 1429435
<NET-INVESTMENT-INCOME> 1257087
<REALIZED-GAINS-CURRENT> 299267
<APPREC-INCREASE-CURRENT> 4486751
<NET-CHANGE-FROM-OPS> 6043105
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 24
<DISTRIBUTIONS-OF-GAINS> 3
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 5
<NET-CHANGE-IN-ASSETS> 57621406
<ACCUMULATED-NII-PRIOR> 89907
<ACCUMULATED-GAINS-PRIOR> 139386
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 636039
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1486402
<AVERAGE-NET-ASSETS> 1179
<PER-SHARE-NAV-BEGIN> 5.33
<PER-SHARE-NII> .12
<PER-SHARE-GAIN-APPREC> .47
<PER-SHARE-DIVIDEND> .12
<PER-SHARE-DISTRIBUTIONS> .01
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 5.79
<EXPENSE-RATIO> 1.42
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
Independent Auditors' Report on Internal Accounting Control
The Board of Directors and Shareholders
IDS Global Series, Inc.:
In planning and performing our audit of the financial statements
of IDS Global Balanced Fund, IDS Global Bond Fund, IDS Global
Growth Fund IDS Emerging Markets Fund and IDS Innovations Fund
(funds within IDS Global Series, Inc.) for the period ended
October 31,1998, 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 the internal control.
The management of IDS Global Series, Inc. is responsible for
establishing and maintaining of 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
irregularities may occur and not be detected. Also, projection of any
evaluation of internal control to future periods is subject to the
risk that it may become inadequate because of changes in
conditions or that the effectiveness of the design and operation
may deteriorate.
Our consideration of the internal control would not necessarily
disclose all matters in the 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 errors or irregularities 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 the internal control and its operation, including
controls for safeguarding securities, that we consider to be a
material weakness as defined above.
This report is intended solely for the information and use of management,
the Board of Directors of IDS global Series, Inc., and the
Securities and Exchange Commission.
KPMG Peat Marwick LLP
Minneapolis, Minnesota
December 4, 1998
