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Previous: FIRST WASHINGTON BANCORP INC /WA/, S-8, 1999-02-02 |
Next: MUNICIPAL INVESTMENT TRUST FD INSURED SER 403 DEF ASSET FDS, S-6, 1999-02-02 |
<PAGE> PAGE 1
000 A000000 11/30/98
000 C000000 0000946787
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 Y
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 STRATEGIST INCOME FUND, INC.
001 B000000 811-7305
001 C000000 8002977378
002 A000000 IDS TOWER 10
002 B000000 MINNEAPOLIS
002 C000000 MN
002 D010000 55440
002 D020000 0010
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<PAGE> PAGE 2
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SIGNATURE EILEEN NEWHOUSE
TITLE GENERAL COUNSEL
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 1
<NAME> STRATEGIST GOVERNMENT INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1999
<PERIOD-END> NOV-30-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 12
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 844836
<TOTAL-ASSETS> 844848
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 55019
<TOTAL-LIABILITIES> 55019
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 776057
<SHARES-COMMON-STOCK> 157873
<SHARES-COMMON-PRIOR> 132197
<ACCUMULATED-NII-CURRENT> 110
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 2243
<ACCUM-APPREC-OR-DEPREC> 15905
<NET-ASSETS> 789829
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 26180
<OTHER-INCOME> 0
<EXPENSES-NET> 4331
<NET-INVESTMENT-INCOME> 21849
<REALIZED-GAINS-CURRENT> 5765
<APPREC-INCREASE-CURRENT> (1725)
<NET-CHANGE-FROM-OPS> 25889
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 22341
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 22341
<NUMBER-OF-SHARES-REDEEMED> 1010
<SHARES-REINVESTED> 4345
<NET-CHANGE-IN-ASSETS> 131877
<ACCUMULATED-NII-PRIOR> 602
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 8008
<GROSS-ADVISORY-FEES> 2094
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5952
<AVERAGE-NET-ASSETS> 752601
<PER-SHARE-NAV-BEGIN> 4.98
<PER-SHARE-NII> .14
<PER-SHARE-GAIN-APPREC> .03
<PER-SHARE-DIVIDEND> .15
<PER-SHARE-DISTRIBUTIONS> .00
<RETURNS-OF-CAPITAL> .00
<PER-SHARE-NAV-END> 5.00
<EXPENSE-RATIO> 1.14
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> STRATEGIST HIGH YIELD FUND
<S> <C>
<PERIOD-TYPE> 6-Mos
<FISCAL-YEAR-END> MAY-31-1999
<PERIOD-END> NOV-30-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 1807421
<TOTAL-ASSETS> 1807421
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 19107
<TOTAL-LIABILITIES> 19107
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1978463
<SHARES-COMMON-STOCK> 444483
<SHARES-COMMON-PRIOR> 217481
<ACCUMULATED-NII-CURRENT> 310
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 9786
<ACCUM-APPREC-OR-DEPREC> (180673)
<NET-ASSETS> 1788314
<DIVIDEND-INCOME> 8470
<INTEREST-INCOME> 84851
<OTHER-INCOME> 0
<EXPENSES-NET> 10172
<NET-INVESTMENT-INCOME> 83149
<REALIZED-GAINS-CURRENT> (28512)
<APPREC-INCREASE-CURRENT> (213883)
<NET-CHANGE-FROM-OPS> (159246)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 90927
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 246906
<NUMBER-OF-SHARES-REDEEMED> 64834
<SHARES-REINVESTED> 15544
<NET-CHANGE-IN-ASSETS> 651189
<ACCUMULATED-NII-PRIOR> 8088
<ACCUMULATED-GAINS-PRIOR> 18726
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4852
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16287
<AVERAGE-NET-ASSETS> 1701326
<PER-SHARE-NAV-BEGIN> 4.61
<PER-SHARE-NII> .21
<PER-SHARE-GAIN-APPREC> (.58)
<PER-SHARE-DIVIDEND> .22
<PER-SHARE-DISTRIBUTIONS> .00
<RETURNS-OF-CAPITAL> .00
<PER-SHARE-NAV-END> 4.02
<EXPENSE-RATIO> 1.18
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 3
<NAME> STRATEGIST QUALITY INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1999
<PERIOD-END> NOV-30-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 383
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 751477
<TOTAL-ASSETS> 751860
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7925
<TOTAL-LIABILITIES> 7925
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 705505
<SHARES-COMMON-STOCK> 78301
<SHARES-COMMON-PRIOR> 71602
<ACCUMULATED-NII-CURRENT> 318
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 613
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 37499
<NET-ASSETS> 743935
<DIVIDEND-INCOME> 177
<INTEREST-INCOME> 24562
<OTHER-INCOME> 0
<EXPENSES-NET> 4015
<NET-INVESTMENT-INCOME> 20724
<REALIZED-GAINS-CURRENT> 3201
<APPREC-INCREASE-CURRENT> 5296
<NET-CHANGE-FROM-OPS> 29221
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 20943
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7632
<NUMBER-OF-SHARES-REDEEMED> 3097
<SHARES-REINVESTED> 2164
<NET-CHANGE-IN-ASSETS> 71227
<ACCUMULATED-NII-PRIOR> 537
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 2588
<GROSS-ADVISORY-FEES> 1903
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10711
<AVERAGE-NET-ASSETS> 718344
<PER-SHARE-NAV-BEGIN> 9.40
<PER-SHARE-NII> .27
<PER-SHARE-GAIN-APPREC> .10
<PER-SHARE-DIVIDEND> .27
<PER-SHARE-DISTRIBUTIONS> .00
<RETURNS-OF-CAPITAL> .00
<PER-SHARE-NAV-END> 9.50
<EXPENSE-RATIO> 1.10
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
EXHIBIT 77D
for Strategist Income Fund, Inc.
At the Board of Directors meetings held on November 23, 1998, the following
investment policies were eliminated:
The Portfolio will not pledge or mortgage its assets beyond 15% of total assets.
The Portfolio will not invest more than 5% of its total assets in securities of
companies, including any predecessors, that have a record of less than three
years continuous operations.
The Portfolio will not invest more than 5% of its net assets in warrants.
The Portfolio will not invest in exploration or development programs such as
oil, gas or mineral leases.
For Strategist High Yield Fund: The Portfolio will not purchase securities of an
issuer if the board members and officers of the the Fund, the Portfolio and of
the Advisor hold more than a certain percentage of the issuer's outstanding
securities. If the holdings of all board members and officers of the Fund and of
the Advisor who own more than 0.5% of an issuer's securities are added together,
and if in total they own more than 5%, the Portfolio will not purchase
securities of that issuer.
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