Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940

Riepilogo

Applicant, whose three series are feeder funds in a master/feeder structure, seeks an order declaring that it has ceased to be an investment company. On July 14, 2000, applicant's series transferred their assets to the following corresponding funds: AXP Federal Income Fund, Inc., AXP Extra Income Fund, Inc., and AXP Selective Fund, Inc., based on net asset value. Expenses of $14,460 incurred in connection with the reorganization were paid by American Express Financial Corporation, investment adviser for the master funds. Filing Date: The application was filed on August 17, 2000. Applicant's Address: 200 AXP Financial Center, Minneapolis, Minnesota 55474.