<ARTICLE> 6

   <NUMBER> 17
   <NAME>AXP GLOBAL BALANCED FUND CLASS Y

                                     
<PERIOD-TYPE>                                             YEAR
<FISCAL-YEAR-END>                                  OCT-31-2000
<PERIOD-END>                                       OCT-31-2000
<INVESTMENTS-AT-COST>                                186228394
<INVESTMENTS-AT-VALUE>                               184734862
<RECEIVABLES>                                          7581259
<ASSETS-OTHER>                                           11970
<OTHER-ITEMS-ASSETS>                                         0
<TOTAL-ASSETS>                                       192328091
<PAYABLE-FOR-SECURITIES>                               4119487
<SENIOR-LONG-TERM-DEBT>                                      0
<OTHER-ITEMS-LIABILITIES>                               125670
<TOTAL-LIABILITIES>                                    4245157
<SENIOR-EQUITY>                                              0
<PAID-IN-CAPITAL-COMMON>                             175218137
<SHARES-COMMON-STOCK>                                   177437
<SHARES-COMMON-PRIOR>                                      211
<ACCUMULATED-NII-CURRENT>                                25616
<OVERDISTRIBUTION-NII>                                       0
<ACCUMULATED-NET-GAINS>                               14382921
<OVERDISTRIBUTION-GAINS>                                     0
<ACCUM-APPREC-OR-DEPREC>                              (1543740)
<NET-ASSETS>                                           1117060
<DIVIDEND-INCOME>                                      1144692
<INTEREST-INCOME>                                      3802776
<OTHER-INCOME>                                               0
<EXPENSES-NET>                                         3102456
<NET-INVESTMENT-INCOME>                                1845012
<REALIZED-GAINS-CURRENT>                              12652945
<APPREC-INCREASE-CURRENT>                            (11441182)
<NET-CHANGE-FROM-OPS>                                  3056775
<EQUALIZATION>                                               0
<DISTRIBUTIONS-OF-INCOME>                                   (7)
<DISTRIBUTIONS-OF-GAINS>                                  (108)
<DISTRIBUTIONS-OTHER>                                        0
<NUMBER-OF-SHARES-SOLD>                                 267763
<NUMBER-OF-SHARES-REDEEMED>                              90554
<SHARES-REINVESTED>                                         17
<NET-CHANGE-IN-ASSETS>                                20430103
<ACCUMULATED-NII-PRIOR>                                 510547
<ACCUMULATED-GAINS-PRIOR>                             13223815
<OVERDISTRIB-NII-PRIOR>                                      0
<OVERDIST-NET-GAINS-PRIOR>                                   0
<GROSS-ADVISORY-FEES>                                  1382250
<INTEREST-EXPENSE>                                           0
<GROSS-EXPENSE>                                        3129241
<AVERAGE-NET-ASSETS>                                    262250
<PER-SHARE-NAV-BEGIN>                                     6.62
<PER-SHARE-NII>                                            .10
<PER-SHARE-GAIN-APPREC>                                    .13
<PER-SHARE-DIVIDEND>                                      (.04)
<PER-SHARE-DISTRIBUTIONS>                                 (.51)
<RETURNS-OF-CAPITAL>                                         0
<PER-SHARE-NAV-END>                                       6.30
<EXPENSE-RATIO>                                           1.20