SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549

FORM N-17f-2

Certificate of Accounting of Securities and Similar
Investments in the Custody of
Management Investment Companies

Pursuant to Rule 17f-2 [17 CFR 270.17f-2]

1.    Investment Company Act File Number:    Date examination completed:

               811-5696                             November 18, 2005

2. State identification Number:

AL       AK       AZ       AR       CA      CO
CT       DE       DC       FL       GA      HI
ID       IL       IN       IA       KS      KY
LA       ME       MD       MA       MI      MN
MS       MO       MT       NE       NV      NH
NJ       NM       NY       NC       ND      OH
OK       OR       PA       RI       SC      SD
TN       TX       UT       VT       VA      WA
WV       WI       WY       PUERTO RICO

Other  (specify):

3. Exact name of investment company as specified in registration statement:

     AXP GLobal Series, Inc.

4. Address of principal executive office (number,street,city,state,zip code):

     50606 Ameriprise Financial Center, Minneapolis, MN 55474

          THIS FORM MUST BE GIVEN TO YOUR INDEPENDENT PUBLIC ACCOUNTANT



            Report of Independent Registered Public Accounting Firm


To the Board of Directors of
AXP Global Series, Inc.:

We have examined management's assertion, included in the accompanying Management
Statement Regarding Compliance with Certain Provisions of the Investment Company
Act of 1940, that RiverSource Global Balanced Fund (formerly RiverSource
Threadneedle Global Balanced Fund) of AXP Global Series (the Fund) complied with
the provisions of subsection (b) and (c) of Rule 17f-2 under the Investment
Company Act of 1940 as of August 31, 2005 and during the period from October 31,
2004 (the date of our last examination) through August 31, 2005. Management is
responsible for the Fund's compliance with those provisions. Our responsibility
is to express an opinion on management's assertion about the Fund's compliance
based on our examination.

Our examination was made in accordance with standards established by the Public
Company Accounting Oversight Board (United States) and, accordingly, included
examining, on a test basis, evidence about the Fund's compliance with those
requirements and performing such other procedures as we considered necessary in
the circumstances. Included among our procedures were the following tests
performed as of August 31, 2005 and during the period October 31, 2004 through
August 31, 2005, with respect to securities transactions:

o    Count and inspection of all securities located in the vault, if any, of
     Ameriprise Trust Company, the Custodian, without prior notice to
     management;

o    Confirmation of all securities, if any, held by institutions in book entry
     form (Wells Fargo Bank Minnesota, N.A., The Bank of New York, and The
     Depository Trust Company);

o    Confirmation or examination of underlying documentation of all securities
     purchased but not received, hypothecated, pledged, placed in escrow, or out
     for transfer with brokers, pledges and/or transfer agents;

o    Reconciliation of all such securities to the books and records of the Fund
     and the Custodian; and

o    Test of selected security transactions since the date of our last report.


We believe that our examination provides a reasonable basis for our opinion. Our
examination does not provide a legal determination on the Fund's compliance with
the specified requirements.







In our opinion, management's assertion that the Fund was in compliance with the
above mentioned provisions of Rule 17f-2 of the Investment Company Act of 1940
as of August 31, 2005 and during the period from October 31, 2004 through August
31, 2005 is fairly stated in all material respects.

This report is intended solely for the information and use of management of the
Fund and the Securities and Exchange Commission and should not be used for any
other purpose and is not intended to be and should not be used by anyone other
than these specified parties.




/s/ KPMG LLP
----------------
    KPMG LLP
    Minneapolis, MN
    November 18, 2005


             Management Statement Regarding Compliance With Certain
                Provisions of the Investment Company Act of 1940



     We, as members of management of RiverSource Global Balanced Fund (formerly
     RiverSource Threadneedle Global Balanced Fund) of AXP Global Series (the
     Fund) are responsible for complying with the requirements of subsections
     (b) and (c) of Rule 17f-2, Custody of Investments by Registered Management
     Investment Companies, of the Investment Company Act of 1940. We are also
     responsible for establishing and maintaining effective internal controls
     over compliance with those requirements. We have performed an evaluation of
     the Fund's compliance with the requirements of subsections (b) and (c) of
     Rule 17f-2 as of August 31, 2005 and from October 31, 2004 through August
     31, 2005.

     Based on this evaluation, we assert that the Fund was in compliance with
     the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment
     Company Act of 1940 as of August 31, 2005 and from October 31, 2004 through
     August 31, 2005, with respect to securities reflected in the investment
     account of the Fund.



     AMERIPRISE FINANCIAL, INC.



     By: /s/ Jeffrey P. Fox
         ------------------------
             Jeffrey P. Fox, Vice President-Investment Accounting