-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, AkyL1RhSze/V9vAtHLsEA/o5+Ne36IqyAW0ji2v/hOXSFYFplUPM8y2Swfbr9eD4 qvxPS31GlWFbgjmzqPfuVA== 0000820027-99-000246.txt : 19990420 0000820027-99-000246.hdr.sgml : 19990420 ACCESSION NUMBER: 0000820027-99-000246 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990419 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IDS BOND FUND INC CENTRAL INDEX KEY: 0000049697 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 411237361 STATE OF INCORPORATION: MN FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 002-51586 FILM NUMBER: 99596693 BUSINESS ADDRESS: STREET 1: IDS TOWER 10 STREET 2: T33/52 CITY: MINNEAPOLIS STATE: MN ZIP: 55440 BUSINESS PHONE: 6126712772 MAIL ADDRESS: STREET 1: 80 SOUTH 8TH STREET STREET 2: T33/52 CITY: MINNEAPOLIS STATE: MN ZIP: 55440 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IDS GROWTH FUND INC CENTRAL INDEX KEY: 0000049702 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 410329910 STATE OF INCORPORATION: MN FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 002-38355 FILM NUMBER: 99596694 BUSINESS ADDRESS: STREET 1: 80 SOUTH 8TH STREET STREET 2: T33/52 CITY: MINNEAPOLIS STATE: MN ZIP: 55440 BUSINESS PHONE: 6126712772 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IDS INVESTMENT SERIES INC CENTRAL INDEX KEY: 0000052347 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 410839315 STATE OF INCORPORATION: MN FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 002-11328 FILM NUMBER: 99596695 BUSINESS ADDRESS: STREET 1: 80 S 8TH ST STREET 2: T33/52 IDS TOWER 10 CITY: MINNEAPOLIS STATE: MN ZIP: 55440 BUSINESS PHONE: 6126712772 FORMER COMPANY: FORMER CONFORMED NAME: IDS MUTUAL INC/NEW DATE OF NAME CHANGE: 19911124 FORMER COMPANY: FORMER CONFORMED NAME: INVESTORS MUTUAL INC DATE OF NAME CHANGE: 19841003 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IDS EQUITY SELECT FUND INC CENTRAL INDEX KEY: 0000052445 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 410839318 STATE OF INCORPORATION: MN FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 002-13188 FILM NUMBER: 99596696 BUSINESS ADDRESS: STREET 1: 80 SOUTH 8TH STREET STREET 2: IDS TOWER 10 CITY: MINNEAPOLIS STATE: MN ZIP: 55440 BUSINESS PHONE: 6123722772 MAIL ADDRESS: STREET 1: IDS FINANCIAL SERVICES INC STREET 2: IDS TOWER 10 CITY: MINNEAPOLIS STATE: MN ZIP: 55440 FORMER COMPANY: FORMER CONFORMED NAME: IDS EQUITY PLUS FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: IDS VARIABLE PAYMENT FUND INC DATE OF NAME CHANGE: 19850722 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IDS HIGH YIELD TAX EXEMPT FUND INC /MN/ CENTRAL INDEX KEY: 0000310187 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 411347174 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 002-63552 FILM NUMBER: 99596697 BUSINESS ADDRESS: STREET 1: 80 SOUTH 8TH STREET STREET 2: T33/52 CITY: MINNEAPOLIS STATE: MN ZIP: 55440 BUSINESS PHONE: 6123722772 FORMER COMPANY: FORMER CONFORMED NAME: IDS HIGH YIELD TAX EXEMPT FUND INC DATE OF NAME CHANGE: 19870603 FORMER COMPANY: FORMER CONFORMED NAME: IDS HIGH YIELD TAX EXEMPT BOND FUND INC DATE OF NAME CHANGE: 19830419 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IDS DISCOVERY FUND INC CENTRAL INDEX KEY: 0000352663 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 411399805 STATE OF INCORPORATION: MN FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 002-72174 FILM NUMBER: 99596698 BUSINESS ADDRESS: STREET 1: 80 SOUTH 8TH STREET STREET 2: T33/52 CITY: MINEAPOLIS STATE: MN ZIP: 55440 BUSINESS PHONE: 6126712772 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IDS EXTRA INCOME FUND INC CENTRAL INDEX KEY: 0000728374 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 411458705 STATE OF INCORPORATION: MN FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 002-86637 FILM NUMBER: 99596699 BUSINESS ADDRESS: STREET 1: 80 SOUTH 8TH STREET STREET 2: T33/52 CITY: MINNEAPOLIS STATE: MN ZIP: 55440 BUSINESS PHONE: 6123722772 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IDS INTERNATIONAL FUND INC CENTRAL INDEX KEY: 0000750022 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] STATE OF INCORPORATION: MN FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 002-92309 FILM NUMBER: 99596700 BUSINESS ADDRESS: STREET 1: 80 SOUTH 8TH STREET STREET 2: T33/52 CITY: MINNEAPOLIS STATE: MN ZIP: 55440 BUSINESS PHONE: 6123722772 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IDS FEDERAL INCOME FUND INC CENTRAL INDEX KEY: 0000764802 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] STATE OF INCORPORATION: MN FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 002-96512 FILM NUMBER: 99596701 BUSINESS ADDRESS: STREET 1: 80 SOUTH 8TH STREET CITY: MINNEAPOLIS STATE: MN ZIP: 55440 BUSINESS PHONE: 6123722772 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IDS GLOBAL SERIES INC CENTRAL INDEX KEY: 0000842918 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] STATE OF INCORPORATION: MN FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 033-25824 FILM NUMBER: 99596702 BUSINESS ADDRESS: STREET 1: IDS TOWER 10 CITY: MINNEAPOLIS STATE: MN ZIP: 55440 BUSINESS PHONE: 6126712772 FORMER COMPANY: FORMER CONFORMED NAME: IDS GLOBAL BOND FUND INC DATE OF NAME CHANGE: 19901011 497 1 PROSPECTUS SUPPLEMENT Prospectus Supplement April 19, 1999 - -------------------------------------------------------------------------------- Date Prosp# (MM/YY Fund Name Printed) - -------------------------------------------------------------------------------- Retail Funds: IDS Blue Chip Advantage Fund 4/1/99 S-6025 M (3/99) IDS Bond Fund 10/30/98 S-6495 M (10/98) IDS California Tax-Exempt Fund 8/28/98 S-6328 M (8/98) IDS Cash Management Fund 9/29/98 S-6320 M (9/98) IDS Discovery Fund 9/29/98 S-6457 M (9/98) IDS Diversified Equity Income Fund 11/27/98 S-6475 M (11/98) IDS Emerging Markets Fund 12/30/98 S-6354 D (12/98) IDS Equity Select Fund 1/29/99 S-6426 N (1/99) IDS Equity Value Fund 5/29/98 S-6382 F (5/98) IDS Extra Income Fund 7/30/98 S-6370 M (7/98) IDS Federal Income Fund 7/30/98 S-6042 N (7/98) IDS Global Balanced Fund 12/30/98 S-6352 C (12/98) IDS Global Bond Fund 12/30/98 S-6309 M (12/98) IDS Global Growth Fund 12/30/98 S-6334 M (12/98) IDS Growth Fund 9/29/98 S-6455 N (9/98) IDS High Yield Tax-Exempt Fund 1/29/99 S-6430 N (1/99) IDS Insured Tax-Exempt Fund 8/28/98 S-6327 M (8/98) IDS Intermediate Tax-Exempt Fund 1/29/99 S-6353 D (1/99) IDS International Fund 12/30/98 S-6140 M (12/98) IDS Managed Allocation Fund 11/27/98 S-6141 N (11/98) IDS Massachusetts Tax-Exempt Fund 8/28/98 S-6328 M (8/98) IDS Michigan Tax-Exempt Fund 8/28/98 S-6328 M (8/98) IDS Minnesota Tax-Exempt Fund 8/28/98 S-6328 M (8/98) IDS Mutual 11/27/98 S-6326 N (11/98) IDS New Dimensions Fund 9/29/98 S-6440 M (9/98) IDS New York Tax-Exempt Fund 8/28/98 S-6328 M (8/98) IDS Ohio Tax-Exempt Fund 8/28/98 S-6328 M (8/98) IDS Precious Metals Fund 5/29/98 S-6142 M (5/98) IDS Progressive Fund 11/27/98 S-6449 M (11/98) IDS Research Opportunities Fund 9/29/98 S-6356 D (9/98) IDS Selective Fund 7/30/98 S-6376 N (7/98) IDS Small Company Index Fund 4/1/99 S-6357 E (3/99) IDS Stock Fund 11/27/98 S-6351 N (11/98) IDS Strategy Aggressive Fund 5/30/98 S-6381 F (5/98) IDS Tax-Exempt Bond Fund 1/29/99 S-6310 N (1/99) IDS Tax-Free Money Fund 3/1/99 S-6433 M (2/99) IDS Utilities Income Fund 8/28/98 S-6341 M (8/98) SHAREHOLDER MEETINGS At the regular meetings scheduled to be held on June 16, 1999, shareholders of the funds listed above will vote on the following proposals: 1. Change the Fund Name from IDS to AXP. Shareholders of all funds will be asked to approve a name change from IDS to AXP. AXP is an abbreviated form of the name of the funds' investment manager, American Express Financial Corporation. For example, IDS New Dimensions Fund would change to AXP New Dimensions Fund. Annuity Funds will also add the words "Variable Portfolio" to their name. For example, IDS Life Capital Resource Fund would change to AXP Variable Portfolio - Capital Resource Fund. 2. Add a New Distribution Plan. For Class A, shareholders will vote on a proposal to change the existing shareholder service agreement to a distribution plan (also known as a 12b-1 plan) and increase the fee from 0.175% to 0.25% of average daily net assets. For Class B, shareholders will vote on a proposal to convert the existing shareholder service agreement to a distribution plan. In combination with the existing distribution plan of 0.75%, this will increase the combined fee from 0.925% to 1.0% of average daily net assets. Amounts paid under the distribution plan will be used for service and education as well as for advertising materials and programs designed to increase Fund sales. Annuity Fund shareholders will vote on a new distribution plan of 0.125% of average daily net assets that will provide additional services and education. 3. Change the Investment Management Services Agreement. As shown in the following table, five funds will be voting on a fee increase. Four of those five funds also will be voting on the addition of breakpoints that reduce fee rates as the fund's assets grow. In addition, 11 funds will be voting on adding or changing a performance incentive adjustment. Under a performance incentive adjustment, the management fee is calculated as shown in the prospectus. The fee is then adjusted for performance. The fund's performance is compared to the performance of a Lipper Index of similar funds. If the fund performs better than the index, the fee will increase. If the fund performs worse than the index, the fee will decrease. The maximum increase or decrease is shown in the table.
Proposed Management Fee Changes - -------------------------------- ----------------------- --------------------------- -------------------------- Type of Change Fee Fund (Annual rate; in billions) - -------------------------------- ----------------------- --------------------------- -------------------------- - -------------------------------- ----------------------- --------------------------- -------------------------- Current Proposed - -------------------------------- ----------------------- --------------------------- -------------------------- - -------------------------------- ----------------------- --------------------------- -------------------------- Blue Chip Increase of .10%, First $.25 - .44% First $.25 - .54% breakpoints and next $.25 - .415% next $.25 - .515% PIA (maximum next $.25 - .39% next $.25 - .49% adjustment of .08%) next $.25 - .365% next $.25 - .465% over $1 - .34% next $1 - .44% next $1 - .41% next $3 - .38% over $6 - .35% - -------------------------------- ----------------------- --------------------------- -------------------------- - -------------------------------- ----------------------- --------------------------- -------------------------- Cash Management Increase of .05% First $1 - .31% First $1 - .36% Tax-Free Money and breakpoints next $.5 - .293% next $.5 - .343% next $.5 - .275% next $.5 - .325% next $.5 - .258% next $.5 - .308% over $2.5 - .24% next $1 - .29% next $3 - .27% over $6.5 - .25% - -------------------------------- ----------------------- --------------------------- -------------------------- - -------------------------------- ----------------------- --------------------------- -------------------------- Diversified Equity Income PIA (.08%) * - -------------------------------- ----------------------- --------------------------- -------------------------- - -------------------------------- ----------------------- --------------------------- -------------------------- Emerging Markets PIA (.12%) * - -------------------------------- ----------------------- --------------------------- -------------------------- - -------------------------------- ----------------------- --------------------------- -------------------------- Equity Select Increase of .08% First $.5 - .53% First $1 - .60% and breakpoints next $.5 - .505% next $1 - .575% next $1 - .48% next $1 - .55% next $1 - .455% next $3 - .525% next $3 - .43% next $6 - .50% over $6 - .40% next $12 - .49% over $24 - .48% - -------------------------------- ----------------------- --------------------------- -------------------------- - -------------------------------- ----------------------- --------------------------- -------------------------- Equity Value PIA (.08%) * - -------------------------------- ----------------------- --------------------------- -------------------------- - -------------------------------- ----------------------- --------------------------- -------------------------- Global Balanced PIA (.12%) * - -------------------------------- ----------------------- --------------------------- -------------------------- - -------------------------------- ----------------------- --------------------------- -------------------------- Global Growth PIA (.12%) * - -------------------------------- ----------------------- --------------------------- -------------------------- - -------------------------------- ----------------------- --------------------------- -------------------------- Research Opportunities PIA (.12%) * - -------------------------------- ----------------------- --------------------------- -------------------------- - -------------------------------- ----------------------- --------------------------- -------------------------- Small Company Index PIA (.12%) * - -------------------------------- ----------------------- --------------------------- -------------------------- - -------------------------------- ----------------------- --------------------------- -------------------------- Strategy Aggressive PIA (.12%) * - -------------------------------- ----------------------- --------------------------- -------------------------- - -------------------------------- ----------------------- --------------------------- -------------------------- Utilities Income Increase of .08% First $.5 - .53% First $0.5 - .61% and PIA (.08%) next $.5 - .505% next $0.5 - .585% next $1 - .48% next $1 - .56% next $1 - .455% next $1 - .535% next $3 - .43% next $3 - .51% over $6 - .40% over $6 - .48% - -------------------------------- ----------------------- --------------------------- -------------------------- * The fee schedule will not change.
4. Change Fundamental Policies. Shareholders will be asked to eliminate or modify a number of policies. Policies to be voted on include those regarding: potential conflicts of interest; issuing senior securities; transactions with affiliates; investing in other investment companies; pledging or mortgaging assets; investing in issuers with less than 3 years of operating history; investing in exploration or development programs; and investing for purposes of exercising control or management. Eliminating or changing these policies is not expected to have any impact on the funds' investment practices. 5. New Subadvisory Agreement. Shareholders of Managed Allocation and Strategy Aggressive will be asked to approve a subadvisory agreement with Kenwood Capital Management, LLC, a subsidiary of AEFC. 6. Change in Investment Objective. Shareholders of Equity Select will vote on a proposal to change the fund's investment objective from "growth of capital and income" to "growth of capital". S-6229 (4/99) *Destroy - June 17, 1999 -----END PRIVACY-ENHANCED MESSAGE-----