Ivy Funds N-PX Annual report of proxy voting record

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington DC 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-6569

IVY FUNDS, INC.
- ------------------------------------------------------------------------------------------------

(Exact Name as Specified in Charter)

6300 Lamar Avenue, Overland Park, Kansas           66202-4200
- ------------------------------------------------------------------------------------------------

(Address of Principal Executive Office)           (Zip Code)

Kristen A. Richards, 6300 Lamar Avenue, Overland Park, Kansas 66202-4200
- ------------------------------------------------------------------------------------------------

(Name and Address of Agent for Service)

Registrant's Telephone Number, including Area Code (913) 236-2000

Date of fiscal year end: March 31

Date of reporting period: July 1, 2003 to June 30, 2004

Form N-PX is to be used by a registered management investment company, other than a small business investment company registered on Form N-5 (§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than August 31 of each year, containing the registrant's proxy voting record for the most recent twelve-month period ended June 30, pursuant to Section 30 of the Investment Company Act of 1940 and Rule 30b1-4 thereunder (17 CFR 270.30b1-4). The Commission may use the information provided on Form N-PX in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-PX, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-PX unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507.

IVY ASSET STRATEGY FUND

Proxy Voting Record

ELECTRONIC ARTS INC.			ERTS	Annual Meeting Date: 07/31/2003
Issuer: 285512		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
03	AMEND STOCK PURCHASE PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

MEDTRONIC, INC.			MDT	Annual Meeting Date: 08/28/2003
Issuer: 585055		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No

THE ESTEE LAUDER COMPANIES INC.			EL	Annual Meeting Date: 11/05/2003
Issuer: 518439		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

MICROSOFT CORPORATION			MSFT	Annual Meeting Date: 11/11/2003
Issuer: 594918		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	Against	Yes
03	AMEND NON-EMPLOYEE DIRECTOR PLAN		Management	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

SUN HUNG KAI PROPERTIES LTD				AGM Meeting Date: 11/18/2003
Issuer: Y82594121		ISIN: HK0016000132
SEDOL: 5724394, 6859927
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	OTHER BUSINESS		Other	Against

THE CLOROX COMPANY			CLX	Annual Meeting Date: 11/19/2003
Issuer: 189054		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

WALGREEN CO.			WAG	Annual Meeting Date: 01/14/2004
Issuer: 931422		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	Against	Yes

COSTCO WHOLESALE CORPORATION			COST	Annual Meeting Date: 01/29/2004
Issuer: 22160K		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	S/H PROPOSAL - DECLASSIFY BOARD		Shareholder	For	Yes
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

NEXT PLC				EGM Meeting Date: 01/29/2004
Issuer: G6500M106		ISIN: GB0032089863
SEDOL: 3208986
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For

AMERICAN ITALIAN PASTA COMPANY			PLB	Annual Meeting Date: 02/19/2004
Issuer: 027070		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

NOVARTIS AG			NVS	Annual Meeting Date: 02/24/2004
Issuer: 66987V		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	No
02	APPROVE PREVIOUS BOARD'S ACTIONS		Management	For	No
03	APPROVE APPROPRIATION OF DISPOSABLE PROFIT		Management	For	No
04	MISCELLANEOUS SHAREHOLDER EQUITY - GLOBAL		Shareholder	For	No
05	AUTHORIZE DIRECTORS TO DECREASE SHARE CAPITAL		Shareholder	For	No
06	MISCELLANEOUS SHAREHOLDER EQUITY - GLOBAL		Shareholder	For	No
07	APPROVE ARTICLE AMENDMENTS		Management	For	No
8A	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
8B	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
8C	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
9	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

DEERE & COMPANY			DE	Annual Meeting Date: 02/25/2004
Issuer: 244199		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

SAMSUNG ELECTRONICS CO LTD				AGM Meeting Date: 02/27/2004
Issuer: Y74718100		ISIN: KR7005930003
SEDOL: 6771720
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.1	MANAGEMENT PROPOSAL		Management	For
2.2	MANAGEMENT PROPOSAL		Management	For
2.3	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For

HYUNDAI MOTOR CO LTD				AGM Meeting Date: 03/12/2004
Issuer: Y38472109		ISIN: KR7005380001
SEDOL: 6451055
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For

CNOOC LTD				EGM Meeting Date: 03/16/2004
Issuer: Y1662W109		ISIN: HK0883009984
SEDOL: 6179948
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For

KOOKMIN BANK				AGM Meeting Date: 03/23/2004
Issuer: Y4822W100		ISIN: KR7060000007
SEDOL: 6419365
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For

CANON INC				AGM Meeting Date: 03/30/2004
Issuer: J05124144		ISIN: JP3242800005
SEDOL: 5485271, 6172323
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
3.15	JAPAN MANAGEMENT PROPOSAL		Management	For
3.16	JAPAN MANAGEMENT PROPOSAL		Management	For
3.17	JAPAN MANAGEMENT PROPOSAL		Management	For
3.18	JAPAN MANAGEMENT PROPOSAL		Management	For
3.19	JAPAN MANAGEMENT PROPOSAL		Management	For
3.20	JAPAN MANAGEMENT PROPOSAL		Management	For
3.21	JAPAN MANAGEMENT PROPOSAL		Management	For
3.22	JAPAN MANAGEMENT PROPOSAL		Management	For
3.23	JAPAN MANAGEMENT PROPOSAL		Management	For
3.24	JAPAN MANAGEMENT PROPOSAL		Management	For
3.25	JAPAN MANAGEMENT PROPOSAL		Management	For
3.26	JAPAN MANAGEMENT PROPOSAL		Management	For
3.27	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	Against
5	JAPAN MANAGEMENT PROPOSAL		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
7	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

HONG KONG EXCHANGES AND CLEARING LTD				AGM Meeting Date: 03/31/2004
Issuer: Y3506N105		ISIN: HK0388009489
SEDOL: 4062493, 6267359
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.1	MANAGEMENT PROPOSAL		Management	For
4.2	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.A	MANAGEMENT PROPOSAL		Management	For
6.B	MANAGEMENT PROPOSAL		Management	For
6.C	MANAGEMENT PROPOSAL		Management	For
6.D	MANAGEMENT PROPOSAL		Management	For
6.E	MANAGEMENT PROPOSAL		Management	For
S.6.F	MANAGEMENT PROPOSAL		Management	For
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

WMC RESOURCES LTD				AGM Meeting Date: 04/06/2004
Issuer: Q9737U106		ISIN: AU000000WMR6
SEDOL: 6571469
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.a	MANAGEMENT PROPOSAL		Management	For
1.b	MANAGEMENT PROPOSAL		Management	For
1.c	MANAGEMENT PROPOSAL		Management	For
1.d	MANAGEMENT PROPOSAL		Management	For
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

RIO TINTO PLC				AGM Meeting Date: 04/07/2004
Issuer: G75754104		ISIN: GB0007188757
SEDOL: 0718875, 4718699, 5725676, 6720595
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Against
S.2	MANAGEMENT PROPOSAL		Management	For
S.3	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For

CATERPILLAR INC.			CAT	Annual Meeting Date: 04/14/2004
Issuer: 149123		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	For	Yes
	RATIFY POISON PILL
05	S/H PROPOSAL - SPIN-OFF/SELL COMPANY ASSETS		Shareholder	Against	No
06	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

SCHLUMBERGER LIMITED (SCHLUMBERGER N			SLB	Annual Meeting Date: 04/14/2004
Issuer: 806857		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

VOLVO AB				AGM Meeting Date: 04/16/2004
Issuer: 928856301		ISIN: SE0000115446
SEDOL: 0885865, 0930776, 4937739, 5485088
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
A.	MANAGEMENT PROPOSAL		Management	For
B.	MANAGEMENT PROPOSAL		Management	For
C.	MANAGEMENT PROPOSAL		Management	For
D.	MANAGEMENT PROPOSAL		Management	For
E.	MANAGEMENT PROPOSAL		Management	For
F.1	MANAGEMENT PROPOSAL		Management	For
F.2	MANAGEMENT PROPOSAL		Management	For
F.3	MANAGEMENT PROPOSAL		Management	For
F.4	MANAGEMENT PROPOSAL		Management	For
F.5	MANAGEMENT PROPOSAL		Management	For
F.6	MANAGEMENT PROPOSAL		Management	For
F.7	MANAGEMENT PROPOSAL		Management	For
F.8	MANAGEMENT PROPOSAL		Management	For
F.9	MANAGEMENT PROPOSAL		Management	For
G.	MANAGEMENT PROPOSAL		Management	Against
H.	MANAGEMENT PROPOSAL		Management	For
I.	MANAGEMENT PROPOSAL		Management	For
J.	MANAGEMENT PROPOSAL		Management	For
K.	MANAGEMENT PROPOSAL		Management	For
L.	MANAGEMENT PROPOSAL		Management	For

SMITH INTERNATIONAL, INC.			SII	Annual Meeting Date: 04/20/2004
Issuer: 832110		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

BURLINGTON RESOURCES INC.			BR	Annual Meeting Date: 04/21/2004
Issuer: 122014		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

THE COCA-COLA COMPANY			KO	Annual Meeting Date: 04/21/2004
Issuer: 191216		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	For	Yes
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
09	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes

BARRICK GOLD CORPORATION			ABX	Special Meeting Date: 04/22/2004
Issuer: 067901		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	ELECTION OF DIRECTORS		Management	For	No
2	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No
3	STOCK OPTION PLAN		Management	For	No

PFIZER INC.			PFE	Annual Meeting Date: 04/22/2004
Issuer: 717081		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	For	Yes
06	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
09	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	Against	No
10	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

WYETH			WYE	Annual Meeting Date: 04/22/2004
Issuer: 983024		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
04	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	No

ABBOTT LABORATORIES			ABT	Annual Meeting Date: 04/23/2004
Issuer: 002824		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

BAKER HUGHES INCORPORATED			BHI	Annual Meeting Date: 04/28/2004
Issuer: 057224		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	For	Yes
04	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	For	Yes
	RATIFY POISON PILL

CNOOC LTD				AGM Meeting Date: 04/28/2004
Issuer: Y1662W117		ISIN: HK0883013259
SEDOL: B00G0S5
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	OTHER BUSINESS		Other	Against
S.9	MANAGEMENT PROPOSAL		Management	For

CNOOC LTD				EGM Meeting Date: 04/28/2004
Issuer: Y1662W117		ISIN: HK0883013259
SEDOL: B00G0S5
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Against

COMPANHIA VALE DO RIO DOCE			RIO	Annual Meeting Date: 04/28/2004
Issuer: 204412		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
OA	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
OB	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
OC	APPROVE RENUMERATION OF DIRECTORS		Management	For	No
OD	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
E A	AUTHORIZE DIRECTORS TO INCREASE SHARE CAPITAL		Shareholder	For	No

W.W. GRAINGER, INC.			GWW	Annual Meeting Date: 04/28/2004
Issuer: 384802		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

CEMEX, S.A. DE C.V.			CX	Annual Meeting Date: 04/29/2004
Issuer: 151290		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
A1	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes
A2	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes
A3	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes
A4	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes
A5	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes
A6	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes

ALCOA INC.			AA	Annual Meeting Date: 04/30/2004
Issuer: 013817		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
3A	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
3B	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

CRH PLC				AGM Meeting Date: 05/05/2004
Issuer: G25508105		ISIN: IE0001827041
SEDOL: 0182704, 4182249
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.a	MANAGEMENT PROPOSAL		Management	For
3.b	MANAGEMENT PROPOSAL		Management	For
3.c	MANAGEMENT PROPOSAL		Management	For
3.d	MANAGEMENT PROPOSAL		Management	For
3.e	MANAGEMENT PROPOSAL		Management	For
3.f	MANAGEMENT PROPOSAL		Management	For
3.g	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
S.5	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
S.7	MANAGEMENT PROPOSAL		Management	For
S.8	MANAGEMENT PROPOSAL		Management	For
S.9	MANAGEMENT PROPOSAL		Management	For
S.10	MANAGEMENT PROPOSAL		Management	For
S.11	MANAGEMENT PROPOSAL		Management	For

ANADARKO PETROLEUM CORPORATION			APC	Annual Meeting Date: 05/06/2004
Issuer: 032511		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	S/H PROPOSAL - ENVIRONMENTAL		Shareholder	Against	No

FREEPORT-MCMORAN COPPER & GOLD INC.			FCX	Annual Meeting Date: 05/06/2004
Issuer: 35671D		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management		Yes
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

PEABODY ENERGY CORPORATION			BTU	Annual Meeting Date: 05/06/2004
Issuer: 704549		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No

HUANENG POWER INTERNATIONAL INC				AGM Meeting Date: 05/11/2004
Issuer: Y3744A105		ISIN: CN0009115410
SEDOL: 5788839, 6099671, 6441904
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For

COOPER CAMERON CORPORATION			CAM	Annual Meeting Date: 05/13/2004
Issuer: 216640		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

NORTHROP GRUMMAN CORPORATION			NOC	Annual Meeting Date: 05/18/2004
Issuer: 666807		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - MILITARY/WEAPONS		Shareholder	For	Yes
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	For	Yes

HUTCHISON WHAMPOA LTD				AGM Meeting Date: 05/20/2004
Issuer: Y38024108		ISIN: HK0013000119
SEDOL: 5324910, 6448035, 6448068
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.1	MANAGEMENT PROPOSAL		Management	For
5.2	MANAGEMENT PROPOSAL		Management	For
5.3	MANAGEMENT PROPOSAL		Management	For

HUTCHISON WHAMPOA LTD				EGM Meeting Date: 05/20/2004
Issuer: Y38024108		ISIN: HK0013000119
SEDOL: 5324910, 6448035, 6448068
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
S.1	MANAGEMENT PROPOSAL		Management	For
O.1	MANAGEMENT PROPOSAL		Management	For
O.2	MANAGEMENT PROPOSAL		Management	For
O.3	MANAGEMENT PROPOSAL		Management	For

PACIFICARE HEALTH SYSTEMS, INC.			PHS	Annual Meeting Date: 05/20/2004
Issuer: 695112		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK PURCHASE PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

EXXON MOBIL CORPORATION			XOM	Annual Meeting Date: 05/26/2004
Issuer: 30231G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
09	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
10	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
11	S/H PROPOSAL - ENVIRONMENTAL		Shareholder	Against	No

PANERA BREAD COMPANY			PNRA	Annual Meeting Date: 05/27/2004
Issuer: 69840W		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

BUNGE LIMITED			BG	Annual Meeting Date: 05/28/2004
Issuer: G16962		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
02	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
03	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
04	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
06	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No

NABORS INDUSTRIES LTD.			NBR	Annual Meeting Date: 06/01/2004
Issuer: G6359F		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	APPROVE REINCORPORATION TO DELAWARE		Management	Against	No

CNOOC LTD				AGM Meeting Date: 06/14/2004
Issuer: Y1662W117		ISIN: HK0883013259
SEDOL: B00G0S5
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Against
2.1	MANAGEMENT PROPOSAL		Management	Against
2.2	MANAGEMENT PROPOSAL		Management	Against
2.3	MANAGEMENT PROPOSAL		Management	Against
2.4	MANAGEMENT PROPOSAL		Management	Against
3.	MANAGEMENT PROPOSAL		Management	Against
4.	MANAGEMENT PROPOSAL		Management	Against
5.	MANAGEMENT PROPOSAL		Management	Against
6.	MANAGEMENT PROPOSAL		Management	Against
S.7	MANAGEMENT PROPOSAL		Management	Against

HUANENG POWER INTERNATIONAL INC				EGM Meeting Date: 06/15/2004
Issuer: Y3744A105		ISIN: CN0009115410
SEDOL: 5788839, 6099671, 6441904
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	Against
4.	MANAGEMENT PROPOSAL		Management	Against
5.	MANAGEMENT PROPOSAL		Management	Against

NTT DOCOMO INC, TOKYO				AGM Meeting Date: 06/18/2004
Issuer: J59399105		ISIN: JP3165650007
SEDOL: 5559079, 6129277
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	JAPAN MANAGEMENT PROPOSAL		Management	For
2.	JAPAN MANAGEMENT PROPOSAL		Management	For
3.	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.4	JAPAN MANAGEMENT PROPOSAL		Management	For
4.5	JAPAN MANAGEMENT PROPOSAL		Management	For
4.6	JAPAN MANAGEMENT PROPOSAL		Management	For
4.7	JAPAN MANAGEMENT PROPOSAL		Management	For
4.8	JAPAN MANAGEMENT PROPOSAL		Management	For
4.9	JAPAN MANAGEMENT PROPOSAL		Management	For
4.10	JAPAN MANAGEMENT PROPOSAL		Management	For
4.11	JAPAN MANAGEMENT PROPOSAL		Management	For
4.12	JAPAN MANAGEMENT PROPOSAL		Management	For
4.13	JAPAN MANAGEMENT PROPOSAL		Management	For
4.14	JAPAN MANAGEMENT PROPOSAL		Management	For
4.15	JAPAN MANAGEMENT PROPOSAL		Management	For
4.16	JAPAN MANAGEMENT PROPOSAL		Management	For
4.17	JAPAN MANAGEMENT PROPOSAL		Management	For
4.18	JAPAN MANAGEMENT PROPOSAL		Management	For
4.19	JAPAN MANAGEMENT PROPOSAL		Management	For
4.20	JAPAN MANAGEMENT PROPOSAL		Management	For
4.21	JAPAN MANAGEMENT PROPOSAL		Management	For
4.22	JAPAN MANAGEMENT PROPOSAL		Management	For
4.23	JAPAN MANAGEMENT PROPOSAL		Management	For
4.24	JAPAN MANAGEMENT PROPOSAL		Management	For
4.25	JAPAN MANAGEMENT PROPOSAL		Management	For
5.	JAPAN MANAGEMENT PROPOSAL		Management	For
6.	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against

HONDA MOTOR CO LTD				AGM Meeting Date: 06/23/2004
Issuer: J22302111		ISIN: JP3854600008
SEDOL: 0435141, 4435482, 5326273, 6435145
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
3.15	JAPAN MANAGEMENT PROPOSAL		Management	For
3.16	JAPAN MANAGEMENT PROPOSAL		Management	For
3.17	JAPAN MANAGEMENT PROPOSAL		Management	For
3.18	JAPAN MANAGEMENT PROPOSAL		Management	For
3.19	JAPAN MANAGEMENT PROPOSAL		Management	For
3.20	JAPAN MANAGEMENT PROPOSAL		Management	For
3.21	JAPAN MANAGEMENT PROPOSAL		Management	For
3.22	JAPAN MANAGEMENT PROPOSAL		Management	For
3.23	JAPAN MANAGEMENT PROPOSAL		Management	For
3.24	JAPAN MANAGEMENT PROPOSAL		Management	For
3.25	JAPAN MANAGEMENT PROPOSAL		Management	For
3.26	JAPAN MANAGEMENT PROPOSAL		Management	For
3.27	JAPAN MANAGEMENT PROPOSAL		Management	For
3.28	JAPAN MANAGEMENT PROPOSAL		Management	For
3.29	JAPAN MANAGEMENT PROPOSAL		Management	For
3.30	JAPAN MANAGEMENT PROPOSAL		Management	For
3.31	JAPAN MANAGEMENT PROPOSAL		Management	For
3.32	JAPAN MANAGEMENT PROPOSAL		Management	For
3.33	JAPAN MANAGEMENT PROPOSAL		Management	For
3.34	JAPAN MANAGEMENT PROPOSAL		Management	For
3.35	JAPAN MANAGEMENT PROPOSAL		Management	For
3.36	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
6	JAPAN MANAGEMENT PROPOSAL		Management	For
7	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

TOYOTA MOTOR CORP				AGM Meeting Date: 06/23/2004
Issuer: J92676113		ISIN: JP3633400001
SEDOL: 0851435, 2205870, 4871503, 6900643
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	JAPAN MANAGEMENT PROPOSAL		Management	For
2.	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
3.15	JAPAN MANAGEMENT PROPOSAL		Management	For
3.16	JAPAN MANAGEMENT PROPOSAL		Management	For
3.17	JAPAN MANAGEMENT PROPOSAL		Management	For
3.18	JAPAN MANAGEMENT PROPOSAL		Management	For
3.19	JAPAN MANAGEMENT PROPOSAL		Management	For
3.20	JAPAN MANAGEMENT PROPOSAL		Management	For
3.21	JAPAN MANAGEMENT PROPOSAL		Management	For
3.22	JAPAN MANAGEMENT PROPOSAL		Management	For
3.23	JAPAN MANAGEMENT PROPOSAL		Management	For
3.24	JAPAN MANAGEMENT PROPOSAL		Management	For
3.25	JAPAN MANAGEMENT PROPOSAL		Management	For
3.26	JAPAN MANAGEMENT PROPOSAL		Management	For
3.27	JAPAN MANAGEMENT PROPOSAL		Management	For
4.	JAPAN MANAGEMENT PROPOSAL		Management	For
5.	JAPAN MANAGEMENT PROPOSAL		Management	For
6.1	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
6.2	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
6.3	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
7.	JAPAN SHAREHOLDER PROPOSAL		Other	Against
8.	JAPAN SHAREHOLDER PROPOSAL		Other	Against
9.	JAPAN SHAREHOLDER PROPOSAL		Other	For

KOMATSU LTD				AGM Meeting Date: 06/25/2004
Issuer: J35759125		ISIN: JP3304200003
SEDOL: 5581533, 6496584
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	JAPAN MANAGEMENT PROPOSAL		Management	For
2.	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
4.	JAPAN MANAGEMENT PROPOSAL		Management	For
5.	JAPAN MANAGEMENT PROPOSAL		Management	For
6.	JAPAN MANAGEMENT PROPOSAL		Management	For
7.	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

KUBOTA CORP (FORMERLY KUBOTA LTD)				AGM Meeting Date: 06/25/2004
Issuer: J36662138		ISIN: JP3266400005
SEDOL: 4533665, 5675522, 6497509
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	JAPAN MANAGEMENT PROPOSAL		Management	For
2.	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
3.15	JAPAN MANAGEMENT PROPOSAL		Management	For
3.16	JAPAN MANAGEMENT PROPOSAL		Management	For
3.17	JAPAN MANAGEMENT PROPOSAL		Management	For
3.18	JAPAN MANAGEMENT PROPOSAL		Management	For
3.19	JAPAN MANAGEMENT PROPOSAL		Management	For
3.20	JAPAN MANAGEMENT PROPOSAL		Management	For
4.	JAPAN MANAGEMENT PROPOSAL		Management	Against
5.1	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
5.2	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
5.3	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
5.4	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
5.5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

NEC ELECTRONICS CORP, KAWASAKI				AGM Meeting Date: 06/25/2004
Issuer: J4881U109		ISIN: JP3164720009
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	Against
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MANAGEMENT PROPOSAL		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against
7	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

YANZHOU COAL MINING CO LTD				AGM Meeting Date: 06/25/2004
Issuer: Y97417102		ISIN: CN0009131243
SEDOL: 6109893
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.1	MANAGEMENT PROPOSAL		Management	For
6.2	MANAGEMENT PROPOSAL		Management	For
6.3	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
S.8	MANAGEMENT PROPOSAL		Management	For
S.9	MANAGEMENT PROPOSAL		Management	For
10.	OTHER BUSINESS		Other	Against

FUJI PHOTO FILM CO LTD				AGM Meeting Date: 06/29/2004
Issuer: J15036122		ISIN: JP3814000000
SEDOL: 5477591, 6356525
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
3.15	JAPAN MANAGEMENT PROPOSAL		Management	For
3.16	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

MATSUSHITA ELECTRIC INDUSTRIAL CO LTD				AGM Meeting Date: 06/29/2004
Issuer: J41121104		ISIN: JP3866800000
SEDOL: 4572431, 4572851, 5485323, 6572707
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
3.15	JAPAN MANAGEMENT PROPOSAL		Management	For
3.16	JAPAN MANAGEMENT PROPOSAL		Management	For
3.17	JAPAN MANAGEMENT PROPOSAL		Management	For
3.18	JAPAN MANAGEMENT PROPOSAL		Management	For
3.19	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against

MITSUBISHI ESTATE CO LTD, TOKYO				AGM Meeting Date: 06/29/2004
Issuer: J43916113		ISIN: JP3899600005
SEDOL: 5271113, 6596729
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	Against
4.2	JAPAN MANAGEMENT PROPOSAL		Management	Against
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against
6	JAPAN MANAGEMENT PROPOSAL		Management	For
7	JAPAN MANAGEMENT PROPOSAL		Management	For

MITSUBISHI TOKYO FINANCIAL GROUP INC, TOKYO				AGM Meeting Date: 06/29/2004
Issuer: J44497105		ISIN: JP3902900004
SEDOL: 6335171
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MANAGEMENT PROPOSAL		Management	Against

MITSUI FUDOSAN CO LTD (FORMERLY MITSUI REAL ESTATE DEVELOPMENT CO LTD)				AGM Meeting Date: 06/29/2004
Issuer: J4509L101		ISIN: JP3893200000
SEDOL: 5451788, 6597603
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

PATTERSON-UTI ENERGY, INC.			PTEN	Annual Meeting Date: 06/29/2004
Issuer: 703481		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

SUMITOMO REALTY & DEVELOPMENT CO LTD				AGM Meeting Date: 06/29/2004
Issuer: J77841112		ISIN: JP3409000001
SEDOL: 4579205, 6858902
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
3	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
4	JAPAN MANAGEMENT PROPOSAL		Management	For

IVY CORE EQUITY FUND

Proxy Voting Record

VODAFONE GROUP PLC			VOD	Annual Meeting Date: 07/30/2003
Issuer: 92857W		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
02	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
03	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
04	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
05	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
06	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
07	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
08	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
09	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
10	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
11	PERMIT DIRECTORS TO FIX/APPROVE AUDITOR'S REMUNERATION		Management	For	No
12	MISCELLANEOUS CORPORATE ACTIONS - GLOBAL		Management	Against	Yes
13	ALLOT SECURITIES		Shareholder	Against	Yes
14	ELIMINATE PREEMPTIVE RIGHTS		Management	For	No
15	MISCELLANEOUS SHAREHOLDER EQUITY - GLOBAL		Shareholder	For	No

MEDTRONIC, INC.			MDT	Annual Meeting Date: 08/28/2003
Issuer: 585055		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No

FIRST DATA CORPORATION			FDC	Special Meeting Date: 10/28/2003
Issuer: 319963		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE MERGER AGREEMENT		Management	For	No

MICROSOFT CORPORATION			MSFT	Annual Meeting Date: 11/11/2003
Issuer: 594918		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	Against	Yes
03	AMEND NON-EMPLOYEE DIRECTOR PLAN		Management	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

THE CLOROX COMPANY			CLX	Annual Meeting Date: 11/19/2003
Issuer: 189054		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

AIR PRODUCTS AND CHEMICALS, INC.			APD	Annual Meeting Date: 01/22/2004
Issuer: 009158		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

COSTCO WHOLESALE CORPORATION			COST	Annual Meeting Date: 01/29/2004
Issuer: 22160K		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	S/H PROPOSAL - DECLASSIFY BOARD		Shareholder	For	Yes
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ROCKWELL AUTOMATION, INC.			ROK	Annual Meeting Date: 02/04/2004
Issuer: 773903		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
A	ELECTION OF DIRECTORS		Management	For	No
B	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
C	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No

NOVARTIS AG, BASEL				AGM Meeting Date: 02/24/2004
Issuer: H5820Q150		ISIN: CH0012005267
SEDOL: 7103065
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	SWISS REGISTERED SHARES		Swiss Register	For

NOVARTIS AG, BASEL				AGM Meeting Date: 02/24/2004
Issuer: H5820Q150		ISIN: CH0012005267	BLOCKING
SEDOL: 7103065
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.1	MANAGEMENT PROPOSAL		Management	Take No Action
8.2a	MANAGEMENT PROPOSAL		Management	Take No Action
8.2b	MANAGEMENT PROPOSAL		Management	Take No Action
8.2c	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

DEERE & COMPANY			DE	Annual Meeting Date: 02/25/2004
Issuer: 244199		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

AVAYA INC.			AV	Annual Meeting Date: 02/26/2004
Issuer: 053499		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	Against	Yes
03	S/H PROPOSAL - LIMIT/PROHIBIT EXECUTIVE COMPENSATION		Shareholder	Against	No
	PLAN AWARDS

ANALOG DEVICES, INC.			ADI	Annual Meeting Date: 03/09/2004
Issuer: 032654		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

BANK OF AMERICA CORPORATION			BAC	Special Meeting Date: 03/17/2004
Issuer: 060505		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE MERGER AGREEMENT		Management	For	No
02	AMEND STOCK OPTION PLAN		Management	For	No
03	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
04	APPROVE MOTION TO ADJOURN MEETING		Management	Against	Yes

APPLIED MATERIALS, INC.			AMAT	Annual Meeting Date: 03/24/2004
Issuer: 038222		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No

THE GOLDMAN SACHS GROUP, INC.			GS	Annual Meeting Date: 03/31/2004
Issuer: 38141G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes

CATERPILLAR INC.			CAT	Annual Meeting Date: 04/14/2004
Issuer: 149123		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	For	Yes
	RATIFY POISON PILL
05	S/H PROPOSAL - SPIN-OFF/SELL COMPANY ASSETS		Shareholder	Against	No
06	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

SCHLUMBERGER LIMITED (SCHLUMBERGER N			SLB	Annual Meeting Date: 04/14/2004
Issuer: 806857		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

UNION PACIFIC CORPORATION			UNP	Annual Meeting Date: 04/16/2004
Issuer: 907818		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No

ELI LILLY AND COMPANY			LLY	Annual Meeting Date: 04/19/2004
Issuer: 532457		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

CITIGROUP INC.			C	Annual Meeting Date: 04/20/2004
Issuer: 172967		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
05	S/H PROPOSAL - DECLASSIFY BOARD		Shareholder	Against	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No

BURLINGTON RESOURCES INC.			BR	Annual Meeting Date: 04/21/2004
Issuer: 122014		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

THE COCA-COLA COMPANY			KO	Annual Meeting Date: 04/21/2004
Issuer: 191216		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	For	Yes
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
09	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes

PFIZER INC.			PFE	Annual Meeting Date: 04/22/2004
Issuer: 717081		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	For	Yes
06	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
09	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	Against	No
10	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

WYETH			WYE	Annual Meeting Date: 04/22/2004
Issuer: 983024		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
04	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	No

ABBOTT LABORATORIES			ABT	Annual Meeting Date: 04/23/2004
Issuer: 002824		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

DOMINION RESOURCES, INC.			D	Annual Meeting Date: 04/23/2004
Issuer: 25746U		ISIN:	��
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - REINCORPORATE OUT OF DELAWARE		Shareholder	Against	No

KELLOGG COMPANY			K	Annual Meeting Date: 04/23/2004
Issuer: 487836		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - ALLOW SHAREHOLDERS TO SELECT AUDITORS		Shareholder	Against	No

BELLSOUTH CORPORATION			BLS	Annual Meeting Date: 04/26/2004
Issuer: 079860		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
04	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

GOODRICH CORPORATION			GR	Annual Meeting Date: 04/27/2004
Issuer: 382388		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

INTERNATIONAL BUSINESS MACHINES CORP			IBM	Annual Meeting Date: 04/27/2004
Issuer: 459200		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	AMEND LONG TERM INCENTIVE PLAN		Management	For	No
05	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
08	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes
09	S/H PROPOSAL - INCREASE DISCLOSURE OF EXECUTIVE		Shareholder	Against	No
	COMPENSATION
10	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
11	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
12	S/H PROPOSAL - INCREASE DISCLOSURE OF EXECUTIVE		Shareholder	Against	No
	COMPENSATION

WELLS FARGO & COMPANY			WFC	Annual Meeting Date: 04/27/2004
Issuer: 949746		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

ANHEUSER-BUSCH COMPANIES, INC.			BUD	Annual Meeting Date: 04/28/2004
Issuer: 035229		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

BAKER HUGHES INCORPORATED			BHI	Annual Meeting Date: 04/28/2004
Issuer: 057224		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	For	Yes
04	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	For	Yes
	RATIFY POISON PILL

CHEVRONTEXACO CORPORATION			CVX	Annual Meeting Date: 04/28/2004
Issuer: 166764		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	SHAREHOLDER RIGHTS PLAN		Management	For	No
04	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
06	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
09	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

E. I. DU PONT DE NEMOURS AND COMPANY			DD	Annual Meeting Date: 04/28/2004
Issuer: 263534		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

GENERAL ELECTRIC COMPANY			GE	Annual Meeting Date: 04/28/2004
Issuer: 369604		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
0A	ELECTION OF DIRECTORS		Management	For	No
0B	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
0C	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	No
01	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No
02	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	No
03	S/H PROPOSAL - OPT OUT OF ANTI-TAKEOVER STATUTE		Shareholder	Against	No
04	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
07	S/H PROPOSAL - ELIMINATE CUMULATIVE VOTING		Shareholder	Against	No
08	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	Against	No
	RATIFY POISON PILL
09	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No
10	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
11	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	For	Yes
12	S/H PROPOSAL - ENHANCE STOCK VALUE VIA MERGER/SALE		Shareholder	Against	No
13	S/H PROPOSAL - OVERRIDE CSA VOTE RESTRICTIONS		Shareholder	Against	No
14	S/H PROPOSAL - REQUIRE MAJORITY OF DIRECTORS		Shareholder	Against	No
	TO BE INDEPENDENT
15	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No

VERIZON COMMUNICATIONS INC.			VZ	Annual Meeting Date: 04/28/2004
Issuer: 92343V		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No
04	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No
05	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	For	Yes
06	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	For	Yes
	RATIFY POISON PILL
07	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	No
08	STOCK TRANSFER AGREEMENT		Management	Against	No
09	MISCELLANEOUS COMPENSATION PLANS		Management	Against	No
10	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	No
11	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	No
ALTRIA GROUP, INC.			MO	Annual Meeting Date: 04/29/2004
Issuer: 02209S		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - TOBACCO		Shareholder	Against	No
04	S/H PROPOSAL - TOBACCO		Shareholder	Against	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
06	S/H PROPOSAL - TOBACCO		Shareholder	Against	No
07	S/H PROPOSAL - TOBACCO		Shareholder	Against	No
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	For	Yes

AETNA INC.			AET	Annual Meeting Date: 04/30/2004
Issuer: 00817Y		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - DECLASSIFY BOARD		Shareholder	Against	No
04	S/H PROPOSAL - REINCORPORATE OUT OF DELAWARE		Shareholder	Against	No

MARRIOTT INTERNATIONAL, INC.			MAR	Annual Meeting Date: 04/30/2004
Issuer: 571903		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No

SBC COMMUNICATIONS INC.			SBC	Annual Meeting Date: 04/30/2004
Issuer: 78387G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	DECLASSIFY BOARD		Management	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
BERKSHIRE HATHAWAY INC.			BRKA	Annual Meeting Date: 05/03/2004
Issuer: 084670		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No

PEPSICO, INC.			PEP	Annual Meeting Date: 05/05/2004
Issuer: 713448		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	For	Yes
05	S/H PROPOSAL - HEALTH ISSUES		Shareholder	For	Yes

ANADARKO PETROLEUM CORPORATION			APC	Annual Meeting Date: 05/06/2004
Issuer: 032511		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	S/H PROPOSAL - ENVIRONMENTAL		Shareholder	Against	No

SAP AG			SAP	Annual Meeting Date: 05/06/2004
Issuer: 803054		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
02	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
03	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
04	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
05	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
06	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
07	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
08	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
UNITED PARCEL SERVICE, INC.			UPS	Annual Meeting Date: 05/06/2004
Issuer: 911312		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

COLGATE-PALMOLIVE COMPANY			CL	Annual Meeting Date: 05/07/2004
Issuer: 194162		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - PUT GOLDEN PARACHUTE TO SHAREHOLDER		Shareholder	Against	No
	VOTE
05	S/H PROPOSAL - HUMAN RIGHTS RELATED		Shareholder	Against	No
06	S/H PROPOSAL - REQUIRE MAJORITY OF DIRECTORS		Shareholder	For	Yes
	TO BE INDEPENDENT
ILLINOIS TOOL WORKS INC.			ITW	Annual Meeting Date: 05/07/2004
Issuer: 452308		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

3M COMPANY			MMM	Annual Meeting Date: 05/11/2004
Issuer: 88579Y		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	For	Yes

AMGEN INC.			AMGN	Annual Meeting Date: 05/13/2004
Issuer: 031162		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
3A	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
3B	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes

COX COMMUNICATIONS, INC.			COX	Annual Meeting Date: 05/18/2004
Issuer: 224044		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management		Yes
02	ADOPT STOCK PURCHASE PLAN		Management	For	No

NORTHROP GRUMMAN CORPORATION			NOC	Annual Meeting Date: 05/18/2004
Issuer: 666807		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - MILITARY/WEAPONS		Shareholder	For	Yes
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	For	Yes

AMERICAN INTERNATIONAL GROUP, INC.			AIG	Annual Meeting Date: 05/19/2004
Issuer: 026874		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	ADOPT DIRECTOR STOCK OPTION PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

INTEL CORPORATION			INTC	Annual Meeting Date: 05/19/2004
Issuer: 458140		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

TIME WARNER INC.				Annual Meeting Date: 05/21/2004
Issuer: 887317		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
04	S/H PROPOSAL - ELIMINATE PREEMPTIVE RIGHTS		Shareholder	Against	No

GILEAD SCIENCES, INC.			GILD	Annual Meeting Date: 05/25/2004
Issuer: 375558		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No

BANK OF AMERICA CORPORATION			BAC	Annual Meeting Date: 05/26/2004
Issuer: 060505		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
05	S/H PROPOSAL - ESTABLISH NOMINATING COMMITTEE		Shareholder	Against	No
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

COMCAST CORPORATION			CMCSA	Annual Meeting Date: 05/26/2004
Issuer: 20030N		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT RESTRICTED STOCK AWARD PLAN		Management	For	No
04	APPROVE CHARTER AMENDMENT		Management	For	No
05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
06	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
09	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	For	Yes

EXXON MOBIL CORPORATION			XOM	Annual Meeting Date: 05/26/2004
Issuer: 30231G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
09	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
10	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
11	S/H PROPOSAL - ENVIRONMENTAL		Shareholder	Against	No

LOWE'S COMPANIES, INC.			LOW	Annual Meeting Date: 05/28/2004
Issuer: 548661		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management		Yes
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

NABORS INDUSTRIES LTD.			NBR	Annual Meeting Date: 06/01/2004
Issuer: G6359F		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	APPROVE REINCORPORATION TO DELAWARE		Management	Against	No

WAL-MART STORES, INC.			WMT	Annual Meeting Date: 06/04/2004
Issuer: 931142		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	ADOPT STOCK PURCHASE PLAN		Management	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
09	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
10	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
11	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

LIBERTY MEDIA CORPORATION			L	Annual Meeting Date: 06/09/2004
Issuer: 530718		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	Against	Yes
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

BEST BUY CO., INC.			BBY	Annual Meeting Date: 06/24/2004
Issuer: 086516		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No

IVY CORE EQUITY FUND

Proxy Voting Record of the Advantus Index 500 Fund, Inc., which merged into the Ivy Core Equity Fund on December 8, 2003.

Investment Company Report

Meeting Date Range:

01-Jul-2003 - 05-Dec-2003 Report Date:

11-Aug-2004

Page:

Page 1 of 2

Mutual funds

Agenda Number:

932048879

MICROSOFT CORPORATION MICROSOFT CORP

Security:

594918104

Meeting Type:

Annual

Ticker:

MSFT

Meeting Date:

11-Nov-03

ISIN:

Prop. #

Proposal

Proposal Type

Proposal Vote

For/Against Management

01

DIRECTOR

Comments:

100 % M

1

WILLIAM H. GATES III

Mgmt

For

For

0 %

100 % M

2

STEVEN A. BALLMER

Mgmt

For

For

0 %

100 % M

3

JAMES I. CASH JR.

Mgmt

For

For

0 %

100 % M

4

RAYMOND V. GILMARTIN

Mgmt

For

For

0 %

100 % M

5

A. MCLAUGHLIN KOROLOGOS

Mgmt

For

For

0 %

100 % M

6

DAVID F. MARQUARDT

Mgmt

For

For

0 %

100 % M

7

CHARLES H. NOSKI

Mgmt

For

For

0 %

100 % M

8

HELMUT PANKE

Mgmt

For

For

0 %

100 % M

9

WM. G. REED JR.

Mgmt

For

For

0 %

0 % M

10

JON A. SHIRLEY

Mgmt

Withheld

Against

100 %

02

ADOPTION OF THE AMENDMENTS TO THE 2001 STOCK PLAN

Mgmt

For

For

M

100 %

Y

0 %

0 %

0 %

0 %

P

C

Comments:

03

ADOPTION OF THE AMENDMENTS TO THE 1999 STOCK OPTION PLAN FOR NON- EMPLOYEE DIRECTORS

Mgmt

For

For

M

100 %

Y

0 %

0 %

0 %

0 %

P

C

Comments:

04

SHAREHOLDER PROPOSAL (THE BOARD RECOMMENDS A VOTE AGAINST THIS PROPOSAL)

Shr

Against

For

S

0 %

N

0 %

0 %

0 %

100 %

P

C

Comments:

IVY HIGH INCOME FUND

Proxy Voting Record

US UNWIRED INC.			UNWR	Annual Meeting Date: 04/27/2004
Issuer: 90338R		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

CENTRAL FREIGHT LINES, INC.				Annual Meeting Date: 05/19/2004
Issuer: 153491		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT STOCK PURCHASE PLAN		Management	For	No
03	TRANSACT OTHER BUSINESS		Management	Against	Yes

HANOVER COMPRESSOR COMPANY			HC	Annual Meeting Date: 05/20/2004
Issuer: 410768		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

CITADEL BROADCASTING CORP				Annual Meeting Date: 05/24/2004
Issuer: 17285T		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

IVY INTERNATIONAL GROWTH FUND

Proxy Voting Record

TECHNIP-COFLEXIP, PARIS				MIX Meeting Date: 07/11/2003
Issuer: F90676101		ISIN: FR0000131708	BLOCKING
SEDOL: 4122018, 4874160
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
E.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

MARKS AND SPENCER GROUP PLC				AGM Meeting Date: 07/16/2003
Issuer: G5824M107		ISIN: GB0031274896
SEDOL: 3127489
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	Against
S.11	MANAGEMENT PROPOSAL		Management	For
S.12	MANAGEMENT PROPOSAL		Management	For
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

JOHNSON ELECTRIC HOLDINGS LTD				AGM Meeting Date: 07/21/2003
Issuer: G5150J140		ISIN: BMG5150J1403
SEDOL: 6126331, 6281939
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.1	MANAGEMENT PROPOSAL		Management	For
7.2	MANAGEMENT PROPOSAL		Management	For
7.3	MANAGEMENT PROPOSAL		Management	For

VODAFONE GROUP PLC				AGM Meeting Date: 07/30/2003
Issuer: G93882101		ISIN: GB0007192106
SEDOL: 0719210, 2615101, 5476190
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	Against
13.	MANAGEMENT PROPOSAL		Management	Against
S.14	MANAGEMENT PROPOSAL		Management	For
S.15	MANAGEMENT PROPOSAL		Management	For

CHECK POINT SOFTWARE TECHNOLOGIES LT			CHKP	Annual Meeting Date: 07/31/2003
Issuer: M22465		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
02	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
03	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
04	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	No
05	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No
06	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes

ALPHA BANK SA				EGM Meeting Date: 09/26/2003
Issuer: X1687N119		ISIN: GRS015013006	BLOCKING
SEDOL: 4235864, 5437517
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action

THE NEWS CORPORATION LTD				AGM Meeting Date: 10/15/2003
Issuer: Q67027112		ISIN: AU000000NCP0
SEDOL: 0637163, 4633543, 5412105, 6633433, 6886925
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	Against
6.	MANAGEMENT PROPOSAL		Management	For

NOVOGEN LIMITED				AGM Meeting Date: 10/24/2003
Issuer: Q69941203		ISIN: AU000000NRT0
SEDOL: 5876057, 6648244
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.1	MANAGEMENT PROPOSAL		Management	For
2.2	MANAGEMENT PROPOSAL		Management	For
2.3	MANAGEMENT PROPOSAL		Management	For
2.4	MANAGEMENT PROPOSAL		Management	For
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

GREEK ORGANISATION OF FOOTBALL PROGNOSTICS SA OPAP				EGM Meeting Date: 10/29/2003
Issuer: X5967A101		ISIN: GRS419003009	BLOCKING
SEDOL: 7107250
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	OTHER BUSINESS		Other	Take No Action

ALPHA BANK SA				EGM Meeting Date: 10/30/2003
Issuer: X1687N119		ISIN: GRS015013006	BLOCKING
SEDOL: 4235864, 5437517
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	Abstain
2.	MANAGEMENT PROPOSAL		Management	Abstain
3.	MANAGEMENT PROPOSAL		Management	Abstain
4.	MANAGEMENT PROPOSAL		Management	Abstain

BRITISH SKY BROADCASTING GROUP PLC				AGM Meeting Date: 11/14/2003
Issuer: G15632105		ISIN: GB0001411924
SEDOL: 0141192, 5474837
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	Against
11.	MANAGEMENT PROPOSAL		Management	Against
S.12	MANAGEMENT PROPOSAL		Management	For
S.13	MANAGEMENT PROPOSAL		Management	For

SUN HUNG KAI PROPERTIES LTD				AGM Meeting Date: 11/18/2003
Issuer: Y82594121		ISIN: HK0016000132
SEDOL: 5724394, 6859927
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	OTHER BUSINESS		Other	Against

WESTPAC BANKING CORP				AGM Meeting Date: 12/11/2003
Issuer: Q97417101		ISIN: AU000000WBC1
SEDOL: 0957258, 5412183, 6076146, 6956527, 6957393
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.a	MANAGEMENT PROPOSAL		Management	For
2.b	MANAGEMENT PROPOSAL		Management	For
2.c	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For

AUSTRALIA & NEW ZEALAND BANKING GROUP LTD				AGM Meeting Date: 12/19/2003
Issuer: Q09504137		ISIN: AU000000ANZ3
SEDOL: 6065586, 6068079
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.a	GPS MGMT DIRECTOR		Management	For
2.b	GPS MGMT DIRECTOR		Management	For
2.c	GPS S/H DIRECTOR		Shareholder	Unvoted Director
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

GREEK ORGANISATION OF FOOTBALL PROGNOSTICS SA OPAP				EGM Meeting Date: 12/23/2003
Issuer: X5967A101		ISIN: GRS419003009	BLOCKING
SEDOL: 7107250
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	OTHER BUSINESS		Other	Take No Action

NEXT PLC				EGM Meeting Date: 01/29/2004
Issuer: G6500M106		ISIN: GB0032089863
SEDOL: 3208986
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For

COMPASS GROUP PLC				AGM Meeting Date: 02/16/2004
Issuer: G23296182		ISIN: GB0005331532
SEDOL: 0533153
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	Against
10.	MANAGEMENT PROPOSAL		Management	For
S.11	MANAGEMENT PROPOSAL		Management	For
S.12	MANAGEMENT PROPOSAL		Management	For

NOVARTIS AG, BASEL				AGM Meeting Date: 02/24/2004
Issuer: H5820Q150		ISIN: CH0012005267
SEDOL: 7103065
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	SWISS REGISTERED SHARES		Swiss Register	For

NOVARTIS AG, BASEL				AGM Meeting Date: 02/24/2004
Issuer: H5820Q150		ISIN: CH0012005267	BLOCKING
SEDOL: 7103065
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.1	MANAGEMENT PROPOSAL		Management	Take No Action
8.2a	MANAGEMENT PROPOSAL		Management	Take No Action
8.2b	MANAGEMENT PROPOSAL		Management	Take No Action
8.2c	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

GREEK ORGANISATION OF FOOTBALL PROGNOSTICS SA OPAP				AGM Meeting Date: 02/27/2004
Issuer: X5967A101		ISIN: GRS419003009	BLOCKING
SEDOL: 7107250
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
9.	OTHER BUSINESS		Other	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

KONE OY				AGM Meeting Date: 02/27/2004
Issuer: X45497116		ISIN: FI0009000566
SEDOL: 5792528, 7188277, 7347573, 7349870
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	Against

SAMSUNG ELECTRONICS CO LTD				AGM Meeting Date: 02/27/2004
Issuer: Y74718100		ISIN: KR7005930003
SEDOL: 6771720
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.1	MANAGEMENT PROPOSAL		Management	For
2.2	MANAGEMENT PROPOSAL		Management	For
2.3	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For

NOKIA OYJ				AGM Meeting Date: 03/25/2004
Issuer: X61873133		ISIN: FI0009000681
SEDOL: 0083443, 0654504, 5902941, 5945418, 5946154, 5946455
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	Against
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	Against
6.	MANAGEMENT PROPOSAL		Management	For
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

ROYAL PHILIPS ELECTRONICS NV, EINDHOVEN				AGM Meeting Date: 03/25/2004
Issuer: N6817P109		ISIN: NL0000009538	BLOCKING
SEDOL: 0852643, 4183037, 4197726, 4200572, 5986622
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	OTHER BUSINESS		Other	Take No Action
9.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

ROYAL PHILIPS ELECTRONICS NV, EINDHOVEN				AGM Meeting Date: 03/25/2004
Issuer: N6817P109		ISIN: NL0000009538	BLOCKING
SEDOL: 0852643, 4183037, 4197726, 4200572, 5986622
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.a	MANAGEMENT PROPOSAL		Management	Take No Action
2.b	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.c	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.d	MANAGEMENT PROPOSAL		Management	Take No Action
2.e	MANAGEMENT PROPOSAL		Management	Take No Action
2.f	MANAGEMENT PROPOSAL		Management	Take No Action
3.a	MANAGEMENT PROPOSAL		Management	Take No Action
3.b	MANAGEMENT PROPOSAL		Management	Take No Action
4.a	MANAGEMENT PROPOSAL		Management	Take No Action
4.b	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
9.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

ALPHA BANK SA				AGM Meeting Date: 03/30/2004
Issuer: X1687N119		ISIN: GRS015013006	BLOCKING
SEDOL: 4235864, 5437517
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
10.	MANAGEMENT PROPOSAL		Management	Take No Action
11.	MANAGEMENT PROPOSAL		Management	Take No Action
12.	MANAGEMENT PROPOSAL		Management	Take No Action

CANON INC				AGM Meeting Date: 03/30/2004
Issuer: J05124144		ISIN: JP3242800005
SEDOL: 5485271, 6172323
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
3.15	JAPAN MANAGEMENT PROPOSAL		Management	For
3.16	JAPAN MANAGEMENT PROPOSAL		Management	For
3.17	JAPAN MANAGEMENT PROPOSAL		Management	For
3.18	JAPAN MANAGEMENT PROPOSAL		Management	For
3.19	JAPAN MANAGEMENT PROPOSAL		Management	For
3.20	JAPAN MANAGEMENT PROPOSAL		Management	For
3.21	JAPAN MANAGEMENT PROPOSAL		Management	For
3.22	JAPAN MANAGEMENT PROPOSAL		Management	For
3.23	JAPAN MANAGEMENT PROPOSAL		Management	For
3.24	JAPAN MANAGEMENT PROPOSAL		Management	For
3.25	JAPAN MANAGEMENT PROPOSAL		Management	For
3.26	JAPAN MANAGEMENT PROPOSAL		Management	For
3.27	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	Against
5	JAPAN MANAGEMENT PROPOSAL		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
7	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

SKANDINAVISKA ENSKILDA BANKEN				AGM Meeting Date: 04/01/2004
Issuer: W25381141		ISIN: SE0000148884
SEDOL: 4813345, 5463686, 7527331
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For
13.	MANAGEMENT PROPOSAL		Management	For
14.	MANAGEMENT PROPOSAL		Management	For
15.	MANAGEMENT PROPOSAL		Management	For
16.	MANAGEMENT PROPOSAL		Management	For
17.	MANAGEMENT PROPOSAL		Management	For
18.	MANAGEMENT PROPOSAL		Management	For
19.	MANAGEMENT PROPOSAL		Management	For
20.	MANAGEMENT PROPOSAL		Management	For
21.a	MANAGEMENT PROPOSAL		Management	For
21.b	MANAGEMENT PROPOSAL		Management	For
21.c	MANAGEMENT PROPOSAL		Management	Against
22.d	MANAGEMENT PROPOSAL		Management	For
22.	MANAGEMENT PROPOSAL		Management	For
23.	MANAGEMENT PROPOSAL		Management	For
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

SKANDINAVISKA ENSKILDA BANKEN				AGM Meeting Date: 04/01/2004
Issuer: W25381141		ISIN: SE0000148884
SEDOL: 4813345, 5463686, 7527331
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
A.	MANAGEMENT PROPOSAL		Management	For
B.	MANAGEMENT PROPOSAL		Management	For
C.	MANAGEMENT PROPOSAL		Management	For
D.	MANAGEMENT PROPOSAL		Management	For
E.	MANAGEMENT PROPOSAL		Management	For
F.	MANAGEMENT PROPOSAL		Management	For
G.	MANAGEMENT PROPOSAL		Management	For
H.	MANAGEMENT PROPOSAL		Management	For
I.1	MANAGEMENT PROPOSAL		Management	Against
I.2	SHAREHOLDER PROPOSAL		Shareholder	For
J.	MANAGEMENT PROPOSAL		Management	For
K	MANAGEMENT PROPOSAL		Management	For
L.	MANAGEMENT PROPOSAL		Management	For
M.	MANAGEMENT PROPOSAL		Management	Against
N.	MANAGEMENT PROPOSAL		Management	For
O.	MANAGEMENT PROPOSAL		Management	For
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

TELEFON AB L.M.ERICSSON				OGM Meeting Date: 04/06/2004
Issuer: W26049119		ISIN: SE0000108656	BLOCKING
SEDOL: 0615642, 4303095, 4321558, 4411200, 5009972, 5179723, 5959378, 5962967, 5967360, 7527267
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
A.	MANAGEMENT PROPOSAL		Management	Take No Action
B.	MANAGEMENT PROPOSAL		Management	Take No Action
C.	MANAGEMENT PROPOSAL		Management	Take No Action
D.	MANAGEMENT PROPOSAL		Management	Take No Action
E.	MANAGEMENT PROPOSAL		Management	Take No Action
F.1	MANAGEMENT PROPOSAL		Management	Take No Action
F.2	MANAGEMENT PROPOSAL		Management	Take No Action
F.3	MANAGEMENT PROPOSAL		Management	Take No Action
F.4	MANAGEMENT PROPOSAL		Management	Take No Action
F.5	MANAGEMENT PROPOSAL		Management	Take No Action
F.6	MANAGEMENT PROPOSAL		Management	Take No Action
F.7	MANAGEMENT PROPOSAL		Management	Take No Action
F.8	MANAGEMENT PROPOSAL		Management	Take No Action
G.	MANAGEMENT PROPOSAL		Management	Take No Action
H.	MANAGEMENT PROPOSAL		Management	Take No Action
I.	MANAGEMENT PROPOSAL		Management	Take No Action
J.	MANAGEMENT PROPOSAL		Management	Take No Action
K.	MANAGEMENT PROPOSAL		Management	Take No Action
L.	MANAGEMENT PROPOSAL		Management	Take No Action
M.	MANAGEMENT PROPOSAL		Management	Take No Action
N.	MANAGEMENT PROPOSAL		Management	Take No Action
O.	MANAGEMENT PROPOSAL		Management	Take No Action
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

RIO TINTO PLC				AGM Meeting Date: 04/07/2004
Issuer: G75754104		ISIN: GB0007188757
SEDOL: 0718875, 4718699, 5725676, 6720595
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Against
S.2	MANAGEMENT PROPOSAL		Management	For
S.3	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For

FRANCE TELECOM SA				MIX Meeting Date: 04/09/2004
Issuer: F4113C103		ISIN: FR0000133308	BLOCKING
SEDOL: 4617428, 5176177, 5356399, 5897650
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
10.	MANAGEMENT PROPOSAL		Management	Take No Action
11.	MANAGEMENT PROPOSAL		Management	Take No Action
12.	MANAGEMENT PROPOSAL		Management	Take No Action
13.	MANAGEMENT PROPOSAL		Management	Take No Action

UBS AG				AGM Meeting Date: 04/15/2004
Issuer: H8920M855		ISIN: CH0012032030	BLOCKING
SEDOL: 2193607, 2782179, 7126114
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
		��
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.1	MANAGEMENT PROPOSAL		Management	Take No Action
4.2.1	MANAGEMENT PROPOSAL		Management	Take No Action
4.2.2	MANAGEMENT PROPOSAL		Management	Take No Action
4.2.3	MANAGEMENT PROPOSAL		Management	Take No Action
4.3	MANAGEMENT PROPOSAL		Management	Take No Action
5.1	MANAGEMENT PROPOSAL		Management	Take No Action
5.2	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

KINGDEE INTERNATIONAL SOFTWARE GROUP CO LTD				AGM Meeting Date: 04/16/2004
Issuer: G52568105		ISIN: KYG525681055
SEDOL: 6327587
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.A	MANAGEMENT PROPOSAL		Management	For
3.B	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.A	MANAGEMENT PROPOSAL		Management	For
5.B	MANAGEMENT PROPOSAL		Management	For
5.C	MANAGEMENT PROPOSAL		Management	For

KINGDEE INTERNATIONAL SOFTWARE GROUP CO LTD				EGM Meeting Date: 04/16/2004
Issuer: G52568105		ISIN: KYG525681055
SEDOL: 6327587
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Against

WPP GROUP PLC				EGM Meeting Date: 04/16/2004
Issuer: G97974102		ISIN: GB0009740423
SEDOL: 0974042, 5474923
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For

ITV PLC				AGM Meeting Date: 04/19/2004
Issuer: G4984A110		ISIN: GB0033986497
SEDOL: 3398649
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	Against
S.11	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	Against
S.13	MANAGEMENT PROPOSAL		Management	For
14.	MANAGEMENT PROPOSAL		Management	For

PUMA AG RUDOLF DASSLER SPORT				AGM Meeting Date: 04/20/2004
Issuer: D62318148		ISIN: DE0006969603	BLOCKING
SEDOL: 5064722
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action

TELEVISION FRANCAISE 1 SA TF1				MIX Meeting Date: 04/20/2004
Issuer: F91255103		ISIN: FR0000054900	BLOCKING
SEDOL: 4881160, 5883864, 5997118, 5999017, 7166284
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	MANAGEMENT PROPOSAL		Management	Take No Action
E.12	MANAGEMENT PROPOSAL		Management	Take No Action
E.13	MANAGEMENT PROPOSAL		Management	Take No Action
E.14	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

TELEVISION FRANCAISE 1 SA TF1				MIX Meeting Date: 04/20/2004
Issuer: F91255103		ISIN: FR0000054900	BLOCKING
SEDOL: 4881160, 5883864, 5997118, 5999017, 7166284
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
E.11	MANAGEMENT PROPOSAL		Management	Take No Action
E.12	MANAGEMENT PROPOSAL		Management	Take No Action
E.13	MANAGEMENT PROPOSAL		Management	Take No Action
E.14	MANAGEMENT PROPOSAL		Management	Take No Action
E.15	MANAGEMENT PROPOSAL		Management	Take No Action
E.16	MANAGEMENT PROPOSAL		Management	Take No Action
E.17	MANAGEMENT PROPOSAL		Management	Take No Action
E.18	MANAGEMENT PROPOSAL		Management	Take No Action
E.19	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

AXA, PARIS				MIX Meeting Date: 04/21/2004
Issuer: F06106102		ISIN: FR0000120628	BLOCKING
SEDOL: 4026927, 5179648, 5766705, 7088429, 7088753, 7090509, 7166013
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
10.	MANAGEMENT PROPOSAL		Management	Take No Action
11.	MANAGEMENT PROPOSAL		Management	Take No Action
12.	MANAGEMENT PROPOSAL		Management	Take No Action
13.	MANAGEMENT PROPOSAL		Management	Take No Action
14.	MANAGEMENT PROPOSAL		Management	Take No Action
15.	MANAGEMENT PROPOSAL		Management	Take No Action
16.	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

BRITISH AMERICAN TOBACCO PLC				AGM Meeting Date: 04/21/2004
Issuer: G1510J102		ISIN: GB0002875804
SEDOL: 0287580, 5617278
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.a	MANAGEMENT PROPOSAL		Management	For
6.b	MANAGEMENT PROPOSAL		Management	For
6.c	MANAGEMENT PROPOSAL		Management	For
6.d	MANAGEMENT PROPOSAL		Management	For
S.7	MANAGEMENT PROPOSAL		Management	For
S.8.a	MANAGEMENT PROPOSAL		Management	For
S.8.b	MANAGEMENT PROPOSAL		Management	For

REUTERS GROUP PLC				AGM Meeting Date: 04/22/2004
Issuer: G7540P109		ISIN: GB0002369139
SEDOL: 0236913, 5417478
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For
13.	MANAGEMENT PROPOSAL		Management	For
14.	MANAGEMENT PROPOSAL		Management	For
15.	MANAGEMENT PROPOSAL		Management	For
16.	MANAGEMENT PROPOSAL		Management	For
S.17	MANAGEMENT PROPOSAL		Management	For
S.18	MANAGEMENT PROPOSAL		Management	For
19.	MANAGEMENT PROPOSAL		Management	Against
S.20	MANAGEMENT PROPOSAL		Management	For

SYNTHES-STRATEC INC				AGM Meeting Date: 04/22/2004
Issuer: 87162M102		ISIN: US87162M1027	BLOCKING
SEDOL: 2457648, 2518589, 4532673, 4604840
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
*	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

DEPFA BANK PLC, DUBLIN				AGM Meeting Date: 04/26/2004
Issuer: G27230104		ISIN: IE0072559994
SEDOL: 7255999
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For

ING GROEP NV				AGM Meeting Date: 04/27/2004
Issuer: N4578E413		ISIN: NL0000303600	BLOCKING
SEDOL: 7154160, 7154182, 7159176
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
2.A	MANAGEMENT PROPOSAL		Management	Take No Action
2.B	MANAGEMENT PROPOSAL		Management	Take No Action
3.A	MANAGEMENT PROPOSAL		Management	Take No Action
3.B	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.A	MANAGEMENT PROPOSAL		Management	Take No Action
5.B	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.A	MANAGEMENT PROPOSAL		Management	Take No Action
7.B	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
9.A	MANAGEMENT PROPOSAL		Management	Take No Action
9.B	MANAGEMENT PROPOSAL		Management	Take No Action
9.C	MANAGEMENT PROPOSAL		Management	Take No Action
10.	MANAGEMENT PROPOSAL		Management	Take No Action
11.	MANAGEMENT PROPOSAL		Management	Take No Action
12.	MANAGEMENT PROPOSAL		Management	Take No Action
13.	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

MEDIASET SPA				AGM Meeting Date: 04/27/2004
Issuer: T6688Q107		ISIN: IT0001063210	BLOCKING
SEDOL: 5077946, 5474774
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
E.1	MANAGEMENT PROPOSAL		Management	Take No Action

BANCA NAZIONALE DEL LAVORO SPA BNL, ROMA				MIX Meeting Date: 04/28/2004
Issuer: T1240P119		ISIN: IT0001254884	BLOCKING
SEDOL: 5528604, 5616167
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
E.1	MANAGEMENT PROPOSAL		Management	Take No Action
E.2	MANAGEMENT PROPOSAL		Management	Take No Action
E.3	MANAGEMENT PROPOSAL		Management	Take No Action

DAH SING FINANCIAL HOLDINGS LTD				AGM Meeting Date: 04/28/2004
Issuer: Y19182107		ISIN: HK0440001847
SEDOL: 4103530, 6249799
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For

TECAN GROUP AG, MAENNEDORF				AGM Meeting Date: 04/28/2004
Issuer: H84774167		ISIN: CH0012100191	BLOCKING
SEDOL: 7110902
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	SWISS REGISTERED SHARES		Swiss Register	Take No Action

TECAN GROUP AG, MAENNEDORF				OGM Meeting Date: 04/28/2004
Issuer: H84774167		ISIN: CH0012100191	BLOCKING
SEDOL: 7110902
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.1	MANAGEMENT PROPOSAL		Management	Take No Action
5.2	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

TOTAL SA				MIX Meeting Date: 04/28/2004
Issuer: F92124100		ISIN: FR0000120271	BLOCKING
SEDOL: 0214663, 4617462, 4905413, 5180628, 5638279, 5836976
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	SHAREHOLDER PROPOSAL		Shareholder	Take No Action
O.12	SHAREHOLDER PROPOSAL		Shareholder	Take No Action
O.13	SHAREHOLDER PROPOSAL		Shareholder	Take No Action
O.14	MANAGEMENT PROPOSAL		Management	Take No Action
O.15	MANAGEMENT PROPOSAL		Management	Take No Action
O.16	MANAGEMENT PROPOSAL		Management	Take No Action
O.17	MANAGEMENT PROPOSAL		Management	Take No Action
O.18	MANAGEMENT PROPOSAL		Management	Take No Action
E.19	MANAGEMENT PROPOSAL		Management	Take No Action
E.20	MANAGEMENT PROPOSAL		Management	Take No Action
E.21	MANAGEMENT PROPOSAL		Management	Take No Action
E.22	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

AU OPTRONICS CORP.			AUO	Annual Meeting Date: 04/29/2004
Issuer: 002255		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
02	ARTICLES OF ASSOCIATION		Management	For	No
03	ELECTION OF DIRECTORS		Management	For	No
04	MISCELLANEOUS CORPORATE ACTIONS - GLOBAL		Management	For	No
05	DIVIDEND		Management	For	No
06	MISCELLANEOUS SHAREHOLDER EQUITY - GLOBAL		Shareholder	For	No
07	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No

CEMEX, S.A. DE C.V.			CX	Annual Meeting Date: 04/29/2004
Issuer: 151290		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
A1	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes
A2	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes
A3	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes
A4	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes
A5	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes
A6	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes

ROYAL BANK OF SCOTLAND GROUP PLC				AGM Meeting Date: 04/29/2004
Issuer: G76891111		ISIN: GB0007547838
SEDOL: 0754783, 2337201, 2663003, 5824023
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For
13.	MANAGEMENT PROPOSAL		Management	Against
14.	MANAGEMENT PROPOSAL		Management	For
15.	MANAGEMENT PROPOSAL		Management	For
16.	MANAGEMENT PROPOSAL		Management	Against
17.	MANAGEMENT PROPOSAL		Management	For

BANCO POPOLARE DI VERONA E NOVARA SCRL, VERONA				OGM Meeting Date: 04/30/2004
Issuer: T1866D101		ISIN: IT0003262513	BLOCKING
SEDOL: 7378261
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action

CREDIT SUISSE GROUP, ZUERICH				AGM Meeting Date: 04/30/2004
Issuer: H3698D419		ISIN: CH0012138530	BLOCKING
SEDOL: 6384548, 7146327, 7154706, 7171589
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.1	MANAGEMENT PROPOSAL		Management	Take No Action
3.2	MANAGEMENT PROPOSAL		Management	Take No Action
4.1a	MANAGEMENT PROPOSAL		Management	Take No Action
4.1b	MANAGEMENT PROPOSAL		Management	Take No Action
4.1c	MANAGEMENT PROPOSAL		Management	Take No Action
4.1d	MANAGEMENT PROPOSAL		Management	Take No Action
4.1e	MANAGEMENT PROPOSAL		Management	Take No Action
4.2	MANAGEMENT PROPOSAL		Management	Take No Action
4.3	MANAGEMENT PROPOSAL		Management	Take No Action
5.1	MANAGEMENT PROPOSAL		Management	Take No Action
5.2	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

TELEFONICA SA				OGM Meeting Date: 04/30/2004
Issuer: E90183182		ISIN: ES0178430E18
SEDOL: 0798394, 2608413, 5720972, 5732524, 5736322, 5786930, 6167460
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
I.	MANAGEMENT PROPOSAL		Management	Against
II.	MANAGEMENT PROPOSAL		Management	Against
III.	MANAGEMENT PROPOSAL		Management	Against
IV.	MANAGEMENT PROPOSAL		Management	Against
V.	MANAGEMENT PROPOSAL		Management	Against
VI.	MANAGEMENT PROPOSAL		Management	Against
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

ERSTE BANK DER OESTERREICHISCHEN SPARKASSEN AG, WIEN				AGM Meeting Date: 05/04/2004
Issuer: A19494102		ISIN: AT0000652011	BLOCKING
SEDOL: 5289837, 5369449, 7440621
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
10.	MANAGEMENT PROPOSAL		Management	Take No Action
11.	MANAGEMENT PROPOSAL		Management	Take No Action
12.	MANAGEMENT PROPOSAL		Management	Take No Action
13.A	MANAGEMENT PROPOSAL		Management	Take No Action
13.B	MANAGEMENT PROPOSAL		Management	Take No Action

ALLIANZ AG, MUENCHEN				AGM Meeting Date: 05/05/2004
Issuer: D03080112		ISIN: DE0008404005
SEDOL: 0018490, 0048646, 5231485, 5242487, 5479531, 5766749, 7158333
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	Against
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	Against
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

SAP AG SYSTEME ANWENDUNGEN PRODUKTE IN DER DATENVERARBEITUNG, WALLDORF/BADEN				AGM Meeting Date: 05/06/2004
Issuer: D66992104		ISIN: DE0007164600	BLOCKING
SEDOL: 4616889, 4846288, 4882185
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action

SCHNEIDER ELECTRIC SA					MIX Meeting Date: 05/06/2004
Issuer: F86921107		ISIN: FR0000121972	BLOCKING
SEDOL: 4834108, 5395875, 7165463
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	MANAGEMENT PROPOSAL		Management	Take No Action
O.12	MANAGEMENT PROPOSAL		Management	Take No Action
O.13	MANAGEMENT PROPOSAL		Management	Take No Action
O.14	MANAGEMENT PROPOSAL		Management	Take No Action
O.15	MANAGEMENT PROPOSAL		Management	Take No Action
O.16	MANAGEMENT PROPOSAL		Management	Take No Action
E.17	MANAGEMENT PROPOSAL		Management	Take No Action
E.18	MANAGEMENT PROPOSAL		Management	Take No Action
E.19	MANAGEMENT PROPOSAL		Management	Take No Action
E.20	MANAGEMENT PROPOSAL		Management	Take No Action
E.21	MANAGEMENT PROPOSAL		Management	Take No Action
E.22	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

SHOPPERS DRUG MART CORPORATION				Special Meeting Date: 05/11/2004
Issuer: 82509W		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
02	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No
03	ARTICLES OF ASSOCIATION		Management	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
STANDARD CHARTERED PLC				AGM Meeting Date: 05/11/2004
Issuer: G84228157		ISIN: GB0004082847
SEDOL: 0408284, 6558484, 7032039
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For
13.	MANAGEMENT PROPOSAL		Management	Against
14.	MANAGEMENT PROPOSAL		Management	Against
S.15	MANAGEMENT PROPOSAL		Management	For
S.16	MANAGEMENT PROPOSAL		Management	For
S.17	MANAGEMENT PROPOSAL		Management	For
18.	MANAGEMENT PROPOSAL		Management	For
19.	MANAGEMENT PROPOSAL		Management	For

TAIWAN SEMICONDUCTOR MFG. CO. LTD.			TSM	Annual Meeting Date: 05/11/2004
Issuer: 874039		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
05	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
06	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
07	DIVIDEND		Management	For	No

TAYLOR NELSON SOFRES PLC				AGM Meeting Date: 05/12/2004
Issuer: G8693M109		ISIN: GB0001915395
SEDOL: 0191539, 5607804
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	Against
S.9	MANAGEMENT PROPOSAL		Management	For
S.10	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For

NEXT PLC				AGM Meeting Date: 05/13/2004
Issuer: G6500M106		ISIN: GB0032089863
SEDOL: 3208986
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
S.8	MANAGEMENT PROPOSAL		Management	For
S.9	MANAGEMENT PROPOSAL		Management	For

RECKITT BENCKISER PLC				AGM Meeting Date: 05/13/2004
Issuer: G7420A107		ISIN: GB0007278715
SEDOL: 0727871, 5861268
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	Against
S.11	MANAGEMENT PROPOSAL		Management	For
S.12	MANAGEMENT PROPOSAL		Management	For

BALOISE-HOLDING, BASEL				OGM Meeting Date: 05/14/2004
Issuer: H04530202		ISIN: CH0012410517	BLOCKING
SEDOL: 7124594
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	SWISS REGISTERED SHARES		Swiss Register	Take No Action

BALOISE-HOLDING, BASEL				OGM Meeting Date: 05/14/2004
Issuer: H04530202		ISIN: CH0012410517	BLOCKING
SEDOL: 7124594
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action

TOTAL SA				MIX Meeting Date: 05/14/2004
Issuer: F92124100		ISIN: FR0000120271	BLOCKING
SEDOL: 0214663, 4617462, 4905413, 5180628, 5638279, 5836976
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
0.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	NON-VOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	SHAREHOLDER PROPOSAL		Shareholder	Take No Action
O.12	SHAREHOLDER PROPOSAL		Shareholder	Take No Action
O.13	SHAREHOLDER PROPOSAL		Shareholder	Take No Action
O.14	MANAGEMENT PROPOSAL		Management	Take No Action
O.15	MANAGEMENT PROPOSAL		Management	Take No Action
O.16	MANAGEMENT PROPOSAL		Management	Take No Action
O.17	MANAGEMENT PROPOSAL		Management	Take No Action
O.18	MANAGEMENT PROPOSAL		Management	Take No Action
E.19	MANAGEMENT PROPOSAL		Management	Take No Action
E.20	MANAGEMENT PROPOSAL		Management	Take No Action
E.21	MANAGEMENT PROPOSAL		Management	Take No Action
E.22	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

PERNOD-RICARD				MIX Meeting Date: 05/17/2004
Issuer: F72027109		ISIN: FR0000120693	BLOCKING
SEDOL: 4427100, 4682318, 4682329
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	MANAGEMENT PROPOSAL		Management	Take No Action
O.12	MANAGEMENT PROPOSAL		Management	Take No Action
O.13	MANAGEMENT PROPOSAL		Management	Take No Action
E.14	MANAGEMENT PROPOSAL		Management	Take No Action
E.15	MANAGEMENT PROPOSAL		Management	Take No Action
E.16	MANAGEMENT PROPOSAL		Management	Take No Action
E.17	MANAGEMENT PROPOSAL		Management	Take No Action
E.18	MANAGEMENT PROPOSAL		Management	Take No Action
E.19	MANAGEMENT PROPOSAL		Management	Take No Action
E.20	MANAGEMENT PROPOSAL		Management	Take No Action
E.21	MANAGEMENT PROPOSAL		Management	Take No Action
E.22	MANAGEMENT PROPOSAL		Management	Take No Action

ABB LTD, ZUERICH				AGM Meeting Date: 05/18/2004
Issuer: H0010V101		ISIN: CH0012221716	BLOCKING
SEDOL: 3044180, 5702259, 7108899, 7113815, 7144053
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	SWISS REGISTERED SHARES		Swiss Register	Take No Action

ABB LTD, ZUERICH				AGM Meeting Date: 05/18/2004
Issuer: H0010V101		ISIN: CH0012221716	BLOCKING
SEDOL: 3044180, 5702259, 7108899, 7113815, 7144053
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

NATIONAL BANK OF GREECE				OGM Meeting Date: 05/18/2004
Issuer: X56533114		ISIN: GRS003013000	BLOCKING
SEDOL: 4625959, 4802280, 5437539
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
10.	MANAGEMENT PROPOSAL		Management	Take No Action
11.	MANAGEMENT PROPOSAL		Management	Take No Action
12.	MANAGEMENT PROPOSAL		Management	Take No Action
13.	MANAGEMENT PROPOSAL		Management	Take No Action
14.	MANAGEMENT PROPOSAL		Management	Take No Action
15.	MANAGEMENT PROPOSAL		Management	Take No Action

CREDIT AGRICOLE SA, PARIS				MIX Meeting Date: 05/19/2004
Issuer: F22797108		ISIN: FR0000045072	BLOCKING
SEDOL: 7262610, 7688272
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	MANAGEMENT PROPOSAL		Management	Take No Action
O.12	MANAGEMENT PROPOSAL		Management	Take No Action
O.13	MANAGEMENT PROPOSAL		Management	Take No Action
O.14	MANAGEMENT PROPOSAL		Management	Take No Action
O.15	MANAGEMENT PROPOSAL		Management	Take No Action
E.16	MANAGEMENT PROPOSAL		Management	Take No Action
E.17	MANAGEMENT PROPOSAL		Management	Take No Action
E.18	MANAGEMENT PROPOSAL		Management	Take No Action
E.19	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

CREDIT AGRICOLE SA, PARIS				MIX Meeting Date: 05/19/2004
Issuer: F22797108		ISIN: FR0000045072	BLOCKING
SEDOL: 7262610, 7688272
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	MANAGEMENT PROPOSAL		Management	Take No Action
O.12	MANAGEMENT PROPOSAL		Management	Take No Action
O.13	MANAGEMENT PROPOSAL		Management	Take No Action
O.14	MANAGEMENT PROPOSAL		Management	Take No Action
O.15	MANAGEMENT PROPOSAL		Management	Take No Action
E.16	MANAGEMENT PROPOSAL		Management	Take No Action
E.17	MANAGEMENT PROPOSAL		Management	Take No Action
E.18	MANAGEMENT PROPOSAL		Management	Take No Action
E.19	MANAGEMENT PROPOSAL		Management	Take No Action
E.20	MANAGEMENT PROPOSAL		Management	Take No Action
E.21	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

ENI SPA, ROMA				MIX Meeting Date: 05/25/2004
Issuer: T3643A145		ISIN: IT0003132476	BLOCKING
SEDOL: 7145056
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
E.1	MANAGEMENT PROPOSAL		Management	Take No Action
E.2	MANAGEMENT PROPOSAL		Management	Take No Action

LAFARGE SA				AGM Meeting Date: 05/25/2004
Issuer: F54432111		ISIN: FR0000120537	BLOCKING
SEDOL: 0500481, 4502706, 4503118, 4516547, 4538961, 7164642
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AKTIENGESELLSCHAFT IN MUENCHEN, MUENC				AGM Meeting Date: 05/26/2004
Issuer: D55535104		ISIN: DE0008430026
SEDOL: 4904409, 5294121, 7159239, 7389081
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

ITO-YOKADO CO LTD				AGM Meeting Date: 05/27/2004
Issuer: J25209115		ISIN: JP3142800006
SEDOL: 4468723, 5335149, 6467944
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
3.15	JAPAN MANAGEMENT PROPOSAL		Management	For
3.16	JAPAN MANAGEMENT PROPOSAL		Management	For
3.17	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

PUBLICIS GROUPE SA				MIX Meeting Date: 06/08/2004
Issuer: F7607Z165		ISIN: FR0000130577	BLOCKING
SEDOL: 4380429, 4380548
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	MANAGEMENT PROPOSAL		Management	Take No Action
O.12	MANAGEMENT PROPOSAL		Management	Take No Action
O.13	MANAGEMENT PROPOSAL		Management	Take No Action
O.14	MANAGEMENT PROPOSAL		Management	Take No Action
O.15	MANAGEMENT PROPOSAL		Management	Take No Action
E.16	MANAGEMENT PROPOSAL		Management	Take No Action
E.17	MANAGEMENT PROPOSAL		Management	Take No Action
E.18	MANAGEMENT PROPOSAL		Management	Take No Action
E.19	MANAGEMENT PROPOSAL		Management	Take No Action
E.20	MANAGEMENT PROPOSAL		Management	Take No Action
E.21	MANAGEMENT PROPOSAL		Management	Take No Action

PUBLICIS GROUPE SA				MIX Meeting Date: 06/08/2004
Issuer: F7607Z165		ISIN: FR0000130577	BLOCKING
SEDOL: 4380429, 4380548
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
O.1	MANAGEMENT PROPOSAL		Management	Take No Action
O.2	MANAGEMENT PROPOSAL		Management	Take No Action
O.3	MANAGEMENT PROPOSAL		Management	Take No Action
O.4	MANAGEMENT PROPOSAL		Management	Take No Action
O.5	MANAGEMENT PROPOSAL		Management	Take No Action
O.6	MANAGEMENT PROPOSAL		Management	Take No Action
O.7	MANAGEMENT PROPOSAL		Management	Take No Action
O.8	MANAGEMENT PROPOSAL		Management	Take No Action
O.9	MANAGEMENT PROPOSAL		Management	Take No Action
O.10	MANAGEMENT PROPOSAL		Management	Take No Action
O.11	MANAGEMENT PROPOSAL		Management	Take No Action
O.12	MANAGEMENT PROPOSAL		Management	Take No Action
O.13	MANAGEMENT PROPOSAL		Management	Take No Action
O.14	MANAGEMENT PROPOSAL		Management	Take No Action
O.15	MANAGEMENT PROPOSAL		Management	Take No Action
E.16	MANAGEMENT PROPOSAL		Management	Take No Action
E.17	MANAGEMENT PROPOSAL		Management	Take No Action
E.18	MANAGEMENT PROPOSAL		Management	Take No Action
E.19	MANAGEMENT PROPOSAL		Management	Take No Action
E.20	MANAGEMENT PROPOSAL		Management	Take No Action
E.21	MANAGEMENT PROPOSAL		Management	Take No Action
E.22	MANAGEMENT PROPOSAL		Management	Take No Action
E.23	MANAGEMENT PROPOSAL		Management	Take No Action

ATHENS WATER & SEWERAGE PUBLIC CO (EYDAP)				AGM Meeting Date: 06/11/2004
Issuer: X0257L107		ISIN: GRS359353000	BLOCKING
SEDOL: 5860191, 5886863
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
2.	MANAGEMENT PROPOSAL		Management	Take No Action
3.	MANAGEMENT PROPOSAL		Management	Take No Action
4.	MANAGEMENT PROPOSAL		Management	Take No Action
5.	MANAGEMENT PROPOSAL		Management	Take No Action
6.	MANAGEMENT PROPOSAL		Management	Take No Action
7.	MANAGEMENT PROPOSAL		Management	Take No Action
8.	MANAGEMENT PROPOSAL		Management	Take No Action
9.	MANAGEMENT PROPOSAL		Management	Take No Action
10.	OTHER BUSINESS		Other	Take No Action

NATIONAL BANK OF GREECE				AGM Meeting Date: 06/17/2004
Issuer: X56533114		ISIN: GRS003013000	BLOCKING
SEDOL: 4625959, 4802280, 5437539
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	Take No Action
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

OPERA SOFTWARE ASA				AGM Meeting Date: 06/17/2004
Issuer: R6664U108		ISIN: NO0010040611
SEDOL: 7057720
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For

HOYA CORP				AGM Meeting Date: 06/18/2004
Issuer: J22848105		ISIN: JP3837800006
SEDOL: 5689374, 6441506
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2.1	JAPAN MANAGEMENT PROPOSAL		Management	For
2.2	JAPAN MANAGEMENT PROPOSAL		Management	For
2.3	JAPAN MANAGEMENT PROPOSAL		Management	For
2.4	JAPAN MANAGEMENT PROPOSAL		Management	For
2.5	JAPAN MANAGEMENT PROPOSAL		Management	For
2.6	JAPAN MANAGEMENT PROPOSAL		Management	For
2.7	JAPAN MANAGEMENT PROPOSAL		Management	For
2.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3	JAPAN MANAGEMENT PROPOSAL		Management	For

NTT DOCOMO INC, TOKYO				AGM Meeting Date: 06/18/2004
Issuer: J59399105		ISIN: JP3165650007
SEDOL: 5559079, 6129277
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	JAPAN MANAGEMENT PROPOSAL		Management	For
2.	JAPAN MANAGEMENT PROPOSAL		Management	For
3.	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.4	JAPAN MANAGEMENT PROPOSAL		Management	For
4.5	JAPAN MANAGEMENT PROPOSAL		Management	For
4.6	JAPAN MANAGEMENT PROPOSAL		Management	For
4.7	JAPAN MANAGEMENT PROPOSAL		Management	For
4.8	JAPAN MANAGEMENT PROPOSAL		Management	For
4.9	JAPAN MANAGEMENT PROPOSAL		Management	For
4.10	JAPAN MANAGEMENT PROPOSAL		Management	For
4.11	JAPAN MANAGEMENT PROPOSAL		Management	For
4.12	JAPAN MANAGEMENT PROPOSAL		Management	For
4.13	JAPAN MANAGEMENT PROPOSAL		Management	For
4.14	JAPAN MANAGEMENT PROPOSAL		Management	For
4.15	JAPAN MANAGEMENT PROPOSAL		Management	For
4.16	JAPAN MANAGEMENT PROPOSAL		Management	For
4.17	JAPAN MANAGEMENT PROPOSAL		Management	For
4.18	JAPAN MANAGEMENT PROPOSAL		Management	For
4.19	JAPAN MANAGEMENT PROPOSAL		Management	For
4.20	JAPAN MANAGEMENT PROPOSAL		Management	For
4.21	JAPAN MANAGEMENT PROPOSAL		Management	For
4.22	JAPAN MANAGEMENT PROPOSAL		Management	For
4.23	JAPAN MANAGEMENT PROPOSAL		Management	For
4.24	JAPAN MANAGEMENT PROPOSAL		Management	For
4.25	JAPAN MANAGEMENT PROPOSAL		Management	For
5.	JAPAN MANAGEMENT PROPOSAL		Management	For
6.	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against

TESCO PLC				AGM Meeting Date: 06/18/2004
Issuer: G87621101		ISIN: GB0008847096
SEDOL: 0884709, 5469491, 5474860
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For
S.4	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	For
6.	MANAGEMENT PROPOSAL		Management	For
7.	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For
12.	MANAGEMENT PROPOSAL		Management	For
13.	MANAGEMENT PROPOSAL		Management	For
14.	MANAGEMENT PROPOSAL		Management	For
15.	MANAGEMENT PROPOSAL		Management	For
16.	MANAGEMENT PROPOSAL		Management	For
17.	MANAGEMENT PROPOSAL		Management	Against
S.18	MANAGEMENT PROPOSAL		Management	For
S.19	MANAGEMENT PROPOSAL		Management	For
20.	MANAGEMENT PROPOSAL		Management	Against
21.	MANAGEMENT PROPOSAL		Management	Against
22.	MANAGEMENT PROPOSAL		Management	Against
23.	MANAGEMENT PROPOSAL		Management	Against
24.	MANAGEMENT PROPOSAL		Management	For
25.	MANAGEMENT PROPOSAL		Management	For

HONDA MOTOR CO LTD				AGM Meeting Date: 06/23/2004
Issuer: J22302111		ISIN: JP3854600008
SEDOL: 0435141, 4435482, 5326273, 6435145
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
3.15	JAPAN MANAGEMENT PROPOSAL		Management	For
3.16	JAPAN MANAGEMENT PROPOSAL		Management	For
3.17	JAPAN MANAGEMENT PROPOSAL		Management	For
3.18	JAPAN MANAGEMENT PROPOSAL		Management	For
3.19	JAPAN MANAGEMENT PROPOSAL		Management	For
3.20	JAPAN MANAGEMENT PROPOSAL		Management	For
3.21	JAPAN MANAGEMENT PROPOSAL		Management	For
3.22	JAPAN MANAGEMENT PROPOSAL		Management	For
3.23	JAPAN MANAGEMENT PROPOSAL		Management	For
3.24	JAPAN MANAGEMENT PROPOSAL		Management	For
3.25	JAPAN MANAGEMENT PROPOSAL		Management	For
3.26	JAPAN MANAGEMENT PROPOSAL		Management	For
3.27	JAPAN MANAGEMENT PROPOSAL		Management	For
3.28	JAPAN MANAGEMENT PROPOSAL		Management	For
3.29	JAPAN MANAGEMENT PROPOSAL		Management	For
3.30	JAPAN MANAGEMENT PROPOSAL		Management	For
3.31	JAPAN MANAGEMENT PROPOSAL		Management	For
3.32	JAPAN MANAGEMENT PROPOSAL		Management	For
3.33	JAPAN MANAGEMENT PROPOSAL		Management	For
3.34	JAPAN MANAGEMENT PROPOSAL		Management	For
3.35	JAPAN MANAGEMENT PROPOSAL		Management	For
3.36	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
6	JAPAN MANAGEMENT PROPOSAL		Management	For
7	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

NIDEC CORP				AGM Meeting Date: 06/23/2004
Issuer: J52968104		ISIN: JP3734800000
SEDOL: 6640682
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MANAGEMENT PROPOSAL		Management	Against
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

ORIX CORP (FORMERLY ORIENT LEASING CO LTD)				AGM Meeting Date: 06/23/2004
Issuer: J61933123		ISIN: JP3200450009
SEDOL: 5878149, 6661144
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2.1	JAPAN MANAGEMENT PROPOSAL		Management	For
2.2	JAPAN MANAGEMENT PROPOSAL		Management	For
2.3	JAPAN MANAGEMENT PROPOSAL		Management	For
2.4	JAPAN MANAGEMENT PROPOSAL		Management	For
2.5	JAPAN MANAGEMENT PROPOSAL		Management	For
2.6	JAPAN MANAGEMENT PROPOSAL		Management	For
2.7	JAPAN MANAGEMENT PROPOSAL		Management	For
2.8	JAPAN MANAGEMENT PROPOSAL		Management	For
2.9	JAPAN MANAGEMENT PROPOSAL		Management	For
2.10	JAPAN MANAGEMENT PROPOSAL		Management	For
2.11	JAPAN MANAGEMENT PROPOSAL		Management	For
2.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3	JAPAN MANAGEMENT PROPOSAL		Management	For
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

TOYOTA MOTOR CORP				AGM Meeting Date: 06/23/2004
Issuer: J92676113		ISIN: JP3633400001
SEDOL: 0851435, 2205870, 4871503, 6900643
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal
1.	JAPAN MANAGEMENT PROPOSAL		Management	For
2.	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
3.15	JAPAN MANAGEMENT PROPOSAL		Management	For
3.16	JAPAN MANAGEMENT PROPOSAL		Management	For
3.17	JAPAN MANAGEMENT PROPOSAL		Management	For
3.18	JAPAN MANAGEMENT PROPOSAL		Management	For
3.19	JAPAN MANAGEMENT PROPOSAL		Management	For
3.20	JAPAN MANAGEMENT PROPOSAL		Management	For
3.21	JAPAN MANAGEMENT PROPOSAL		Management	For
3.22	JAPAN MANAGEMENT PROPOSAL		Management	For
3.23	JAPAN MANAGEMENT PROPOSAL		Management	For
3.24	JAPAN MANAGEMENT PROPOSAL		Management	For
3.25	JAPAN MANAGEMENT PROPOSAL		Management	For
3.26	JAPAN MANAGEMENT PROPOSAL		Management	For
3.27	JAPAN MANAGEMENT PROPOSAL		Management	For
4.	JAPAN MANAGEMENT PROPOSAL		Management	For
5.	JAPAN MANAGEMENT PROPOSAL		Management	For
6.1	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
6.2	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
6.3	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
7.	JAPAN SHAREHOLDER PROPOSAL		Other	Against
8.	JAPAN SHAREHOLDER PROPOSAL		Other	Against
9.	JAPAN SHAREHOLDER PROPOSAL		Other	For

ACOM CO LTD				AGM Meeting Date: 06/24/2004
Issuer: J00105106		ISIN: JP3108600002
SEDOL: 5856758, 6049784
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MANAGEMENT PROPOSAL		Management	Against
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against

FUNAI ELECTRIC CO LTD, OSAKA				AGM Meeting Date: 06/24/2004
Issuer: J16307100		ISIN: JP3825850005
SEDOL: 50
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.4	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MANAGEMENT PROPOSAL		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
7	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against

MITSUI & CO LTD				AGM Meeting Date: 06/24/2004
Issuer: J44690139		ISIN: JP3893600001
SEDOL: 4594071, 5736463, 6597302
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MANAGEMENT PROPOSAL		Management	Against
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against

NEC ELECTRONICS CORP, KAWASAKI				AGM Meeting Date: 06/25/2004
Issuer: J4881U109		ISIN: JP3164720009
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	Against
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MANAGEMENT PROPOSAL		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against
7	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

NOMURA HOLDINGS INC				AGM Meeting Date: 06/25/2004
Issuer: J59009159		ISIN: JP3762600009
SEDOL: 4601045, 4644879, 6643108, 6650487
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	JAPAN MANAGEMENT PROPOSAL		Management	For
2.	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For

WPP GROUP PLC				AGM Meeting Date: 06/28/2004
Issuer: G97974102		ISIN: GB0009740423
SEDOL: 0974042, 5474923
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.	MANAGEMENT PROPOSAL		Management	For
3.a	MANAGEMENT PROPOSAL		Management	For
3.b	MANAGEMENT PROPOSAL		Management	For
3.c	MANAGEMENT PROPOSAL		Management	For
3.d	MANAGEMENT PROPOSAL		Management	For
3.e	MANAGEMENT PROPOSAL		Management	For
3.f	MANAGEMENT PROPOSAL		Management	For
3.g	MANAGEMENT PROPOSAL		Management	For
3.h	MANAGEMENT PROPOSAL		Management	For
4.	MANAGEMENT PROPOSAL		Management	For
5.	MANAGEMENT PROPOSAL		Management	Against
S.6	MANAGEMENT PROPOSAL		Management	For
S.7	MANAGEMENT PROPOSAL		Management	For
8.	MANAGEMENT PROPOSAL		Management	For
9.	MANAGEMENT PROPOSAL		Management	For
10.	MANAGEMENT PROPOSAL		Management	For
11.	MANAGEMENT PROPOSAL		Management	For

DENTSU INC, TOKYO				AGM Meeting Date: 06/29/2004
Issuer: J1207N108		ISIN: JP3551520004
SEDOL: 6416281
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
3.6	JAPAN MANAGEMENT PROPOSAL		Management	For
3.7	JAPAN MANAGEMENT PROPOSAL		Management	For
3.8	JAPAN MANAGEMENT PROPOSAL		Management	For
3.9	JAPAN MANAGEMENT PROPOSAL		Management	For
3.10	JAPAN MANAGEMENT PROPOSAL		Management	For
3.11	JAPAN MANAGEMENT PROPOSAL		Management	For
3.12	JAPAN MANAGEMENT PROPOSAL		Management	For
3.13	JAPAN MANAGEMENT PROPOSAL		Management	For
3.14	JAPAN MANAGEMENT PROPOSAL		Management	For
3.15	JAPAN MANAGEMENT PROPOSAL		Management	For
3.16	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	Against
4.4	JAPAN MANAGEMENT PROPOSAL		Management	Against
5	JAPAN MANAGEMENT PROPOSAL		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against

HOKUTO CORP				AGM Meeting Date: 06/29/2004
Issuer: J2224T102		ISIN: JP3843250006
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	Against
4	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

KAO CORP				AGM Meeting Date: 06/29/2004
Issuer: J30642169		ISIN: JP3205800000
SEDOL: 5685479, 6483809
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	JAPAN MANAGEMENT PROPOSAL		Management	For
2.	JAPAN MANAGEMENT PROPOSAL		Management	For
3.	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.4	JAPAN MANAGEMENT PROPOSAL		Management	For
4.5	JAPAN MANAGEMENT PROPOSAL		Management	For
4.6	JAPAN MANAGEMENT PROPOSAL		Management	For
4.7	JAPAN MANAGEMENT PROPOSAL		Management	For
4.8	JAPAN MANAGEMENT PROPOSAL		Management	For
4.9	JAPAN MANAGEMENT PROPOSAL		Management	For
4.10	JAPAN MANAGEMENT PROPOSAL		Management	For
4.11	JAPAN MANAGEMENT PROPOSAL		Management	For
4.12	JAPAN MANAGEMENT PROPOSAL		Management	For
4.13	JAPAN MANAGEMENT PROPOSAL		Management	For
4.14	JAPAN MANAGEMENT PROPOSAL		Management	For
4.15	JAPAN MANAGEMENT PROPOSAL		Management	For
5.	JAPAN MANAGEMENT PROPOSAL		Management	For
6.	JAPAN MANAGEMENT PROPOSAL		Management	For
7.	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

MITSUI FUDOSAN CO LTD (FORMERLY MITSUI REAL ESTATE DEVELOPMENT CO LTD)				AGM Meeting Date: 06/29/2004
Issuer: J4509L101		ISIN: JP3893200000
SEDOL: 5451788, 6597603
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

MITSUI TRUST HOLDINGS INC, TOKYO				AGM Meeting Date: 06/29/2004
Issuer: J6150N104		ISIN: JP3892100003
SEDOL: 6431897, B010YW8
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
3.4	JAPAN MANAGEMENT PROPOSAL		Management	For
3.5	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

NIPPON TELEGRAPH & TELEPHONE CORP NTT				AGM Meeting Date: 06/29/2004
Issuer: J59396101		ISIN: JP3735400008
SEDOL: 0641186, 5168602, 6641373
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.4	JAPAN MANAGEMENT PROPOSAL		Management	For
4.5	JAPAN MANAGEMENT PROPOSAL		Management	For
4.6	JAPAN MANAGEMENT PROPOSAL		Management	For
4.7	JAPAN MANAGEMENT PROPOSAL		Management	For
4.8	JAPAN MANAGEMENT PROPOSAL		Management	For
4.9	JAPAN MANAGEMENT PROPOSAL		Management	For
4.10	JAPAN MANAGEMENT PROPOSAL		Management	For
4.11	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MANAGEMENT PROPOSAL		Management	For
6	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For
*	ADP NONVOTING PROPOSAL NOTE		Non-Voting	Non-Vote Proposal

NIPPON TELEVISION NETWORK CORP				AGM Meeting Date: 06/29/2004
Issuer: J56171101		ISIN: JP3732200005
SEDOL: 5899805, 6644060
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	Against
4.3	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

SUMITOMO MITSUI FINANCIAL GROUP INC, TOKYO				AGM Meeting Date: 06/29/2004
Issuer: J7771X109		ISIN: JP3890350006
SEDOL: 3250095, 6563024
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3	JAPAN MANAGEMENT PROPOSAL		Management	For
4	JAPAN MANAGEMENT PROPOSAL		Management	Against
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	Against

TAKEDA CHEMICAL INDUSTRIES LTD				AGM Meeting Date: 06/29/2004
Issuer: J81281115		ISIN: JP3463000004
SEDOL: 5296752, 6870445
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1	JAPAN MANAGEMENT PROPOSAL		Management	For
2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.1	JAPAN MANAGEMENT PROPOSAL		Management	For
3.2	JAPAN MANAGEMENT PROPOSAL		Management	For
3.3	JAPAN MANAGEMENT PROPOSAL		Management	For
4.1	JAPAN MANAGEMENT PROPOSAL		Management	For
4.2	JAPAN MANAGEMENT PROPOSAL		Management	For
5	JAPAN MGMT DIRECTOR BONUS/REMUNERATIONS		Management	For

IVY LARGE CAP GROWTH FUND

Proxy Voting Record

DELL COMPUTER CORPORATION			DELL	Annual Meeting Date: 07/18/2003
Issuer: 247025		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	DECLASSIFY BOARD		Management	For	No
03	APPROVE COMPANY NAME CHANGE		Management	For	No
04	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No

CHECK POINT SOFTWARE TECHNOLOGIES LT			CHKP	Annual Meeting Date: 07/31/2003
Issuer: M22465		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
02	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
03	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
04	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	No
05	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No
06	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes

FOREST LABORATORIES, INC.			FRX	Annual Meeting Date: 08/11/2003
Issuer: 345838		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

MICROCHIP TECHNOLOGY INCORPORATED			MCHP	Annual Meeting Date: 08/15/2003
Issuer: 595017		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK PURCHASE PLAN		Management	For	No
03	AMEND STOCK PURCHASE PLAN		Management	For	No

ZIMMER HOLDINGS, INC.			ZMH	Special Meeting Date: 08/21/2003
Issuer: 98956P		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE ACTIONS		Management	For	No

MEDTRONIC, INC.			MDT	Annual Meeting Date: 08/28/2003
Issuer: 585055		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No

BOSTON SCIENTIFIC CORPORATION			BSX	Special Meeting Date: 10/06/2003
Issuer: 101137		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE CHARTER AMENDMENT		Management	For	No

TEVA PHARMACEUTICAL INDUSTRIES LIMIT			TEVA	Special Meeting Date: 10/27/2003
Issuer: 881624		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	CHANGE STOCK EXCHANGE LISTING		Management	For	No
02	CHANGE STOCK EXCHANGE LISTING		Management	For	No

COACH, INC.			COH	Annual Meeting Date: 11/05/2003
Issuer: 189754		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

LINEAR TECHNOLOGY CORPORATION			LLTC	Annual Meeting Date: 11/05/2003
Issuer: 535678		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

CISCO SYSTEMS, INC.			CSCO	Annual Meeting Date: 11/11/2003
Issuer: 17275R		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK PURCHASE PLAN TO INCREASE SHARES		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	S/H PROPOSAL - BUSINESS/INVESTMENT		Shareholder	Against	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

MICROSOFT CORPORATION			MSFT	Annual Meeting Date: 11/11/2003
Issuer: 594918		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	Against	Yes
03	AMEND NON-EMPLOYEE DIRECTOR PLAN		Management	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

HARMAN INTERNATIONAL INDUSTRIES, INC			HAR	Annual Meeting Date: 11/12/2003
Issuer: 413086		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE REVERSE STOCK SPLIT		Shareholder	For	No

MAXIM INTEGRATED PRODUCTS, INC.			MXIM	Annual Meeting Date: 11/13/2003
Issuer: 57772K		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
03	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

AUTOZONE, INC.			AZO	Annual Meeting Date: 12/11/2003
Issuer: 053332		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

HEALTH MANAGEMENT ASSOCIATES, INC.			HMA	Annual Meeting Date: 02/17/2004
Issuer: 421933		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

INTERNATIONAL GAME TECHNOLOGY			IGT	Annual Meeting Date: 03/02/2004
Issuer: 459902		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK PURCHASE PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ANALOG DEVICES, INC.			ADI	Annual Meeting Date: 03/09/2004
Issuer: 032654		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

BANK OF AMERICA CORPORATION			BAC	Special Meeting Date: 03/17/2004
Issuer: 060505		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE MERGER AGREEMENT		Management	For	No
02	AMEND STOCK OPTION PLAN		Management	For	No
03	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
04	APPROVE MOTION TO ADJOURN MEETING		Management	Against	Yes

THE GOLDMAN SACHS GROUP, INC.			GS	Annual Meeting Date: 03/31/2004
Issuer: 38141G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes

T. ROWE PRICE GROUP, INC.			TROW	Annual Meeting Date: 04/08/2004
Issuer: 74144T		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
04	TRANSACT OTHER BUSINESS		Management	For	No

ELI LILLY AND COMPANY			LLY	Annual Meeting Date: 04/19/2004
Issuer: 532457		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

SMITH INTERNATIONAL, INC.			SII	Annual Meeting Date: 04/20/2004
Issuer: 832110		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

CHICAGO MERCANTILE EXCHANGE HOLDINGS			CME	Annual Meeting Date: 04/21/2004
Issuer: 167760		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

PFIZER INC.			PFE	Annual Meeting Date: 04/22/2004
Issuer: 717081		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	For	Yes
06	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
09	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	Against	No
10	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

HARLEY-DAVIDSON, INC.			HDI	Annual Meeting Date: 04/24/2004
Issuer: 412822		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

MANPOWER INC.			MAN	Annual Meeting Date: 04/27/2004
Issuer: 56418H		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

PRAXAIR, INC.			PX	Annual Meeting Date: 04/27/2004
Issuer: 74005P		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND LONG TERM INCENTIVE PLAN		Management	For	No
03	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
04	SHAREHOLDER RIGHTS PLAN		Management	Against	Yes

ALTRIA GROUP, INC.			MO	Annual Meeting Date: 04/29/2004
Issuer: 02209S		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - TOBACCO		Shareholder	Against	No
04	S/H PROPOSAL - TOBACCO		Shareholder	Against	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
06	S/H PROPOSAL - TOBACCO		Shareholder	Against	No
07	S/H PROPOSAL - TOBACCO		Shareholder	Against	No
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	For	Yes

EMC CORPORATION			EMC	Annual Meeting Date: 05/05/2004
Issuer: 268648		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK OPTION PLAN TO INCREASE SHARES		Management	For	No
03	AMEND STOCK PURCHASE PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

SAP AG			SAP	Annual Meeting Date: 05/06/2004
Issuer: 803054		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
02	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
03	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
04	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
05	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
06	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
07	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
08	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes

ZIMMER HOLDINGS, INC.			ZMH	Annual Meeting Date: 05/10/2004
Issuer: 98956P		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	For	Yes
	RATIFY POISON PILL
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	For	Yes

BOSTON SCIENTIFIC CORPORATION			BSX	Annual Meeting Date: 05/11/2004
Issuer: 101137		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

AMGEN INC.			AMGN	Annual Meeting Date: 05/13/2004
Issuer: 031162		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
3A	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
3B	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes

SLM CORPORATION			SLM	Annual Meeting Date: 05/13/2004
Issuer: 78442P		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

GUIDANT CORPORATION			GDT	Annual Meeting Date: 05/18/2004
Issuer: 401698		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes

INTEL CORPORATION			INTC	Annual Meeting Date: 05/19/2004
Issuer: 458140		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

TEVA PHARMACEUTICAL INDUSTRIES LIMIT			TEVA	Annual Meeting Date: 05/20/2004
Issuer: 881624		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	CHANGE STOCK EXCHANGE LISTING		Management	For	No
02	CHANGE STOCK EXCHANGE LISTING		Management	Against	Yes
3A	CHANGE STOCK EXCHANGE LISTING		Management	For	No
3B	CHANGE STOCK EXCHANGE LISTING		Management	For	No
3C	CHANGE STOCK EXCHANGE LISTING		Management	For	No
3D	CHANGE STOCK EXCHANGE LISTING		Management	For	No
3E	CHANGE STOCK EXCHANGE LISTING		Management	For	No
04	CHANGE STOCK EXCHANGE LISTING		Management	Against	Yes
05	CHANGE STOCK EXCHANGE LISTING		Management	For	No

DOLLAR GENERAL CORPORATION			DG	Annual Meeting Date: 05/25/2004
Issuer: 256669		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

GARMIN LTD.			GRMN	Annual Meeting Date: 06/04/2004
Issuer: G37260		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

IVY LIMITED-TERM BOND FUND

Proxy Voting Record

There was no proxy voting for Ivy Limited-Term Bond Fund, a series of the Registrant, for the period covered by this report, pursuant to Section 30 of the Investment Company Act of 1940, as amended, and Rule 30b1-4 thereunder.

IVY MID CAP GROWTH FUND

Proxy Voting Record

ELECTRONIC ARTS INC.			ERTS	Annual Meeting Date: 07/31/2003
Issuer: 285512		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
03	AMEND STOCK PURCHASE PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

FOREST LABORATORIES, INC.			FRX	Annual Meeting Date: 08/11/2003
Issuer: 345838		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

MICROCHIP TECHNOLOGY INCORPORATED			MCHP	Annual Meeting Date: 08/15/2003
Issuer: 595017		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK PURCHASE PLAN		Management	For	No
03	AMEND STOCK PURCHASE PLAN		Management	For	No

MCDATA CORPORATION			MCDT	Annual Meeting Date: 08/27/2003
Issuer: 580031		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND OMNIBUS STOCK OPTION PLAN		Management	Against	Yes

NETWORK APPLIANCE, INC.			NTAP	Annual Meeting Date: 09/02/2003
Issuer: 64120L		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	Against	Yes
03	AMEND STOCK PURCHASE PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
05	TRANSACT OTHER BUSINESS		Management	Against	Yes

COMMONWEALTH TELEPHONE ENTERPRISES,			CTCO	Annual Meeting Date: 09/03/2003
Issuer: 203349		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	MISCELLANEOUS SHAREHOLDER EQUITY		Shareholder	For	No
04	APPROVE ANNUAL MEETING DATE/TIME CHANGE		Management	Abstain	Yes

UTSTARCOM, INC.			UTSI	Special Meeting Date: 09/24/2003
Issuer: 918076		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No

BIOMET, INC.			BMET	Annual Meeting Date: 09/27/2003
Issuer: 090613		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

MOLEX INCORPORATED			MOLXA	Annual Meeting Date: 10/24/2003
Issuer: 608554		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
03	TRANSACT OTHER BUSINESS		Management	Against	Yes

BEARINGPOINT, INC.				Annual Meeting Date: 11/04/2003
Issuer: 074002		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

THE ESTEE LAUDER COMPANIES INC.			EL	Annual Meeting Date: 11/05/2003
Issuer: 518439		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

MERCURY INTERACTIVE CORPORATION			MERQ	Special Meeting Date: 12/10/2003
Issuer: 589405		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	AMEND STOCK OPTION PLAN		Management	For	No
02	AMEND STOCK PURCHASE PLAN TO INCREASE SHARES		Management	For	No

NETSCREEN TECHNOLOGIES, INC.			NSCN	Annual Meeting Date: 03/05/2004
Issuer: 64117V		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ANALOG DEVICES, INC.			ADI	Annual Meeting Date: 03/09/2004
Issuer: 032654		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

IDEX CORPORATION			IEX	Annual Meeting Date: 03/23/2004
Issuer: 45167R		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

STARBUCKS CORPORATION			SBUX	Annual Meeting Date: 03/30/2004
Issuer: 855244		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

FISERV, INC.			FISV	Annual Meeting Date: 04/06/2004
Issuer: 337738		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No

TOTAL SYSTEM SERVICES, INC.			TSS	Annual Meeting Date: 04/15/2004
Issuer: 891906		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

JUNIPER NETWORKS, INC.			JNPR	Special Meeting Date: 04/16/2004
Issuer: 48203R		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE REORGANIZATION PLAN		Management	For	No

FASTENAL COMPANY			FAST	Annual Meeting Date: 04/20/2004
Issuer: 311900		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

SMITH INTERNATIONAL, INC.			SII	Annual Meeting Date: 04/20/2004
Issuer: 832110		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

BURLINGTON RESOURCES INC.			BR	Annual Meeting Date: 04/21/2004
Issuer: 122014		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

CHARTER ONE FINANCIAL, INC.			CF	Annual Meeting Date: 04/21/2004
Issuer: 160903		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

CHICAGO MERCANTILE EXCHANGE HOLDINGS			CME	Annual Meeting Date: 04/21/2004
Issuer: 167760		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

APPLE COMPUTER, INC.			AAPL	Annual Meeting Date: 04/22/2004
Issuer: 037833		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No

SYNOVUS FINANCIAL CORP.			SNV	Annual Meeting Date: 04/22/2004
Issuer: 87161C		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

GOODRICH CORPORATION			GR	Annual Meeting Date: 04/27/2004
Issuer: 382388		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

L-3 COMMUNICATIONS HOLDINGS, INC.			LLL	Annual Meeting Date: 04/27/2004
Issuer: 502424		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
04	NON-EMPLOYEE DIRECTOR PLAN		Management	For	No

NOBLE ENERGY, INC.			NBL	Annual Meeting Date: 04/27/2004
Issuer: 655044		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
04	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No

ALLERGAN, INC.			AGN	Annual Meeting Date: 04/28/2004
Issuer: 018490		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes

HERSHEY FOODS CORPORATION			HSY	Annual Meeting Date: 04/28/2004
Issuer: 427866		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

COCA-COLA ENTERPRISES INC.			CCE	Annual Meeting Date: 04/30/2004
Issuer: 191219		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT MANAGEMENT INCENTIVE PLAN		Management	For	No
03	ADOPT STOCK AWARDS PLAN		Management	For	No
04	ADOPT DIRECTORS' DEFERRED COMPENSATION PLAN		Management	For	No
05	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
06	SAVINGS PLAN		Management	For	No
07	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
08	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No
09	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

SABRE HOLDINGS CORPORATION			TSG	Annual Meeting Date: 05/04/2004
Issuer: 785905		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND STOCK PURCHASE PLAN		Management	For	No

EMC CORPORATION			EMC	Annual Meeting Date: 05/05/2004
Issuer: 268648		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK OPTION PLAN TO INCREASE SHARES		Management	For	No
03	AMEND STOCK PURCHASE PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

AXIS CAPITAL HOLDINGS LTD.				Annual Meeting Date: 05/06/2004
Issuer: G0692U		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE ARTICLE AMENDMENTS		Management	For	No
03	APPROVE RENUMERATION OF DIRECTORS		Management	For	No
04	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No
05	PERMIT DIRECTORS TO FIX/APPROVE AUDITOR'S REMUNERATION		Management	For	No
06	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	No
07	PERMIT DIRECTORS TO FIX/APPROVE AUDITOR'S REMUNERATION		Management	For	No
08	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	No
09	PERMIT DIRECTORS TO FIX/APPROVE AUDITOR'S REMUNERATION		Management	For	No
10	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	No
11	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No
12	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	No
13	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No
14	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	No
15	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No
16	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	No

STARWOOD HOTELS & RESORTS WORLDWIDE,			HOT	Annual Meeting Date: 05/07/2004
Issuer: 85590A		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	Against	Yes
04	DECLASSIFY BOARD		Management	For	No

ALTERA CORPORATION			ALTR	Annual Meeting Date: 05/11/2004
Issuer: 021441		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK OPTION PLAN TO INCREASE SHARES		Management	For	No
03	AMEND STOCK PURCHASE PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
05	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes

COX RADIO, INC.			CXR	Annual Meeting Date: 05/11/2004
Issuer: 224051		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT STOCK PURCHASE PLAN		Management	For	No
03	AMEND LONG TERM INCENTIVE PLAN		Management	For	No

STERICYCLE, INC.			SRCL	Annual Meeting Date: 05/11/2004
Issuer: 858912		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - ENVIRONMENTAL		Shareholder	Against	No

INTERSIL CORPORATION			ISIL	Annual Meeting Date: 05/12/2004
Issuer: 46069S		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No

LABORATORY CORP. OF AMERICA HOLDINGS			LH	Annual Meeting Date: 05/12/2004
Issuer: 50540R		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK PURCHASE PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

CEPHALON, INC.			CEPH	Annual Meeting Date: 05/13/2004
Issuer: 156708		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No

ICOS CORPORATION			ICOS	Annual Meeting Date: 05/14/2004
Issuer: 449295		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

UTSTARCOM, INC.			UTSI	Annual Meeting Date: 05/14/2004
Issuer: 918076		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ARBITRON INC.			ARB	Annual Meeting Date: 05/17/2004
Issuer: 03875Q		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No

GETTY IMAGES, INC.			GYI	Annual Meeting Date: 05/17/2004
Issuer: 374276		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

THE CHARLES SCHWAB CORPORATION			SCH	Annual Meeting Date: 05/17/2004
Issuer: 808513		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	Against	Yes

JUNIPER NETWORKS, INC.			JNPR	Annual Meeting Date: 05/19/2004
Issuer: 48203R		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

MERCURY INTERACTIVE CORPORATION			MERQ	Annual Meeting Date: 05/19/2004
Issuer: 589405		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

C.H. ROBINSON WORLDWIDE, INC.			CHRW	Annual Meeting Date: 05/20/2004
Issuer: 12541W		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

GILEAD SCIENCES, INC.			GILD	Annual Meeting Date: 05/25/2004
Issuer: 375558		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No

HENRY SCHEIN, INC.			HSIC	Annual Meeting Date: 05/25/2004
Issuer: 806407		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management		Yes
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
04	ADOPT STOCK PURCHASE PLAN		Management	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

NEUROCRINE BIOSCIENCES, INC.			NBIX	Annual Meeting Date: 05/26/2004
Issuer: 64125C		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN TO INCREASE		Management	For	No
	SHARES

LAMAR ADVERTISING COMPANY			LAMR	Annual Meeting Date: 05/27/2004
Issuer: 512815		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN TO INCREASE		Management	Against	Yes
	SHARES

ADVANCIS PHARMACEUTICAL CORP.				Annual Meeting Date: 06/03/2004
Issuer: 00764L		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	Against	Yes

ALLIANCE DATA SYSTEMS CORPORATION			ADS	Annual Meeting Date: 06/08/2004
Issuer: 018581		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

SEMTECH CORPORATION			SMTC	Annual Meeting Date: 06/10/2004
Issuer: 816850		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

KYPHON INC.			KYPH	Annual Meeting Date: 06/16/2004
Issuer: 501577		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

SALIX PHARMACEUTICALS, LTD.			SLXP	Annual Meeting Date: 06/17/2004
Issuer: 795435		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

SIEBEL SYSTEMS, INC.			SEBL	Annual Meeting Date: 06/23/2004
Issuer: 826170		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes

EBAY INC.			EBAY	Annual Meeting Date: 06/24/2004
Issuer: 278642		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN TO INCREASE		Management	For	No
	SHARES
03	AMEND INCENTIVE STOCK OPTION PLAN TO INCREASE		Management	For	No
	SHARES
04	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
06	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes

PATTERSON-UTI ENERGY, INC.			PTEN	Annual Meeting Date: 06/29/2004
Issuer: 703481		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

IVY MONEY MARKET FUND

Proxy Voting Record

There was no proxy voting for Ivy Money Market Fund, a series of the Registrant, for the period covered by this report, pursuant to Section 30 of the Investment Company Act of 1940, as amended, and Rule 30b1-4 thereunder.

IVY MUNICIPAL BOND FUND

Proxy Voting Record

There was no proxy voting for Ivy Municipal Bond Fund, a series of the Registrant, for the period covered by this report, pursuant to Section 30 of the Investment Company Act of 1940, as amended, and Rule 30b1-4 thereunder.

IVY SCIENCE AND TECHNOLOGY FUND

Proxy Voting Record

RESEARCH IN MOTION LIMITED			RIMM	Annual Meeting Date: 07/21/2003
Issuer: 760975		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
02	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No

VODAFONE GROUP PLC			VOD	Annual Meeting Date: 07/30/2003
Issuer: 92857W		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
02	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
03	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
04	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
05	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
06	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
07	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
08	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
09	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
10	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
11	PERMIT DIRECTORS TO FIX/APPROVE AUDITOR'S REMUNERATION		Management	For	No
12	MISCELLANEOUS CORPORATE ACTIONS - GLOBAL		Management	Against	Yes
13	ALLOT SECURITIES		Shareholder	Against	Yes
14	ELIMINATE PREEMPTIVE RIGHTS		Management	For	No
15	MISCELLANEOUS SHAREHOLDER EQUITY - GLOBAL		Shareholder	For	No

CHECK POINT SOFTWARE TECHNOLOGIES LT			CHKP	Annual Meeting Date: 07/31/2003
Issuer: M22465		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
02	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
03	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
04	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	No
05	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No
06	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes

FOREST LABORATORIES, INC.			FRX	Annual Meeting Date: 08/11/2003
Issuer: 345838		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

OMNIVISION TECHNOLOGIES, INC.			OVTI	Annual Meeting Date: 10/01/2003
Issuer: 682128		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND OMNIBUS STOCK OPTION PLAN		Management	Against	Yes
04	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No

BOSTON SCIENTIFIC CORPORATION			BSX	Special Meeting Date: 10/06/2003
Issuer: 101137		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE CHARTER AMENDMENT		Management	For	No

SEAGATE TECHNOLOGY				Annual Meeting Date: 10/29/2003
Issuer: G7945J		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management		Yes
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

BEARINGPOINT, INC.				Annual Meeting Date: 11/04/2003
Issuer: 074002		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

CISCO SYSTEMS, INC.			CSCO	Annual Meeting Date: 11/11/2003
Issuer: 17275R		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK PURCHASE PLAN TO INCREASE SHARES		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	S/H PROPOSAL - BUSINESS/INVESTMENT		Shareholder	Against	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

MICROSOFT CORPORATION			MSFT	Annual Meeting Date: 11/11/2003
Issuer: 594918		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	Against	Yes
03	AMEND NON-EMPLOYEE DIRECTOR PLAN		Management	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

EDISON SCHOOLS INC.			EDSN	Special Meeting Date: 11/12/2003
Issuer: 281033		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE MERGER AGREEMENT		Management	For	No
02	APPROVE MOTION TO ADJOURN MEETING		Management	For	No

PALL CORPORATION			PLL	Annual Meeting Date: 11/19/2003
Issuer: 696429		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	AMEND STOCK PURCHASE PLAN		Management	For	No
04	AMEND STOCK PURCHASE PLAN		Management	For	No

IXYS CORPORATION			SYXI	Annual Meeting Date: 11/21/2003
Issuer: 46600W		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

MICRON TECHNOLOGY, INC.			MU	Annual Meeting Date: 11/21/2003
Issuer: 595112		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK PURCHASE PLAN		Management	For	No
03	AMEND STOCK PURCHASE PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

INNOVEX, INC.			INVX	Annual Meeting Date: 01/20/2004
Issuer: 457647		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	SET/CHANGE NUMBER OF DIRECTORS ON BOARD		Management	For	No
02	ELECTION OF DIRECTORS		Management		Yes
03	AMEND INCENTIVE STOCK OPTION PLAN TO INCREASE		Management	Against	Yes
	SHARES
04	AMEND STOCK PURCHASE PLAN		Management	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

AMDOCS LIMITED			DOX	Annual Meeting Date: 01/22/2004
Issuer: G02602		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	No
03	AMEND OMNIBUS STOCK OPTION PLAN		Management	Against	Yes
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

NOVARTIS AG			NVS	Annual Meeting Date: 02/24/2004
Issuer: 66987V		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	No
02	APPROVE PREVIOUS BOARD'S ACTIONS		Management	For	No
03	APPROVE APPROPRIATION OF DISPOSABLE PROFIT		Management	For	No
04	MISCELLANEOUS SHAREHOLDER EQUITY - GLOBAL		Shareholder	For	No
05	AUTHORIZE DIRECTORS TO DECREASE SHARE CAPITAL		Shareholder	For	No
06	MISCELLANEOUS SHAREHOLDER EQUITY - GLOBAL		Shareholder	For	No
07	APPROVE ARTICLE AMENDMENTS		Management	For	No
8A	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
8B	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
8C	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
9	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

SAMSUNG ELECTRONICS CO LTD				AGM Meeting Date: 02/27/2004
Issuer: Y74718100		ISIN: KR7005930003
SEDOL: 6771720
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
1.	MANAGEMENT PROPOSAL		Management	For
2.1	MANAGEMENT PROPOSAL		Management	For
2.2	MANAGEMENT PROPOSAL		Management	For
2.3	MANAGEMENT PROPOSAL		Management	For
3.	MANAGEMENT PROPOSAL		Management	For

APPLIED MATERIALS, INC.			AMAT	Annual Meeting Date: 03/24/2004
Issuer: 038222		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No

TEXAS INSTRUMENTS INCORPORATED			TXN	Annual Meeting Date: 04/15/2004
Issuer: 882508		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes

TIBCO SOFTWARE INC.			TIBX	Annual Meeting Date: 04/15/2004
Issuer: 88632Q		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

LIPMAN ELECTRONIC ENGINEERING LTD.			LPMA	Special Meeting Date: 04/21/2004
Issuer: M6772H		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE ACTIONS - GLOBAL		Management	For	No

PFIZER INC.			PFE	Annual Meeting Date: 04/22/2004
Issuer: 717081		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	For	Yes
06	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
09	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	Against	No
10	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

ABBOTT LABORATORIES			ABT	Annual Meeting Date: 04/23/2004
Issuer: 002824		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

ALCON, INC.			ACL	Annual Meeting Date: 04/27/2004
Issuer: H01301		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	No
02	DECLARE FINAL PAYMENT OF DIVIDEND		Management	For	No
03	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
4A	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
4B	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
4C	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
06	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

AU OPTRONICS CORP.			AUO	Annual Meeting Date: 04/29/2004
Issuer: 002255		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
02	ARTICLES OF ASSOCIATION		Management	For	No
03	ELECTION OF DIRECTORS		Management	For	No
04	MISCELLANEOUS CORPORATE ACTIONS - GLOBAL		Management	For	No
05	DIVIDEND		Management	For	No
06	MISCELLANEOUS SHAREHOLDER EQUITY - GLOBAL		Shareholder	For	No
07	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No

BROADCOM CORPORATION			BRCM	Annual Meeting Date: 04/29/2004
Issuer: 111320		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	Against	Yes
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

AMYLIN PHARMACEUTICALS, INC.			AMLN	Annual Meeting Date: 05/05/2004
Issuer: 032346		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK PURCHASE PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

EMC CORPORATION			EMC	Annual Meeting Date: 05/05/2004
Issuer: 268648		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK OPTION PLAN TO INCREASE SHARES		Management	For	No
03	AMEND STOCK PURCHASE PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

BOSTON SCIENTIFIC CORPORATION			BSX	Annual Meeting Date: 05/11/2004
Issuer: 101137		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

GENERAL CABLE CORP			BGC	Annual Meeting Date: 05/11/2004
Issuer: 369300		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

SUNRISE SENIOR LIVING, INC.			SRZ	Annual Meeting Date: 05/12/2004
Issuer: 86768K		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

UNITEDHEALTH GROUP INCORPORATED			UNH	Annual Meeting Date: 05/12/2004
Issuer: 91324P		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

CORGENTECH INC.			CGTK	Annual Meeting Date: 05/13/2004
Issuer: 21872P		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ICOS CORPORATION			ICOS	Annual Meeting Date: 05/14/2004
Issuer: 449295		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

SOHU.COM INC.			SOHU	Annual Meeting Date: 05/14/2004
Issuer: 83408W		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	Against	Yes
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ANTHEM, INC.			ATH	Annual Meeting Date: 05/17/2004
Issuer: 03674B		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

NEXTEL PARTNERS, INC.			NXTP	Annual Meeting Date: 05/18/2004
Issuer: 65333F		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND STOCK OPTION PLAN TO INCREASE SHARES		Management	For	No
04	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
05	AMEND ARTICLES/BYLAW/CHARTER-ORGANIZATION RELATED		Management	Against	Yes

INTEL CORPORATION			INTC	Annual Meeting Date: 05/19/2004
Issuer: 458140		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

MATTSON TECHNOLOGY, INC.			MTSN	Annual Meeting Date: 05/19/2004
Issuer: 577223		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK PURCHASE PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

EURONET WORLDWIDE, INC.			EEFT	Annual Meeting Date: 05/24/2004
Issuer: 298736		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No

AMAZON.COM, INC.			AMZN	Annual Meeting Date: 05/25/2004
Issuer: 023135		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

AMPHENOL CORPORATION			APH	Annual Meeting Date: 05/26/2004
Issuer: 032095		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
04	ADOPT DIRECTOR STOCK OPTION PLAN		Management	For	No
05	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No

GENZYME CORPORATION			GENZ	Annual Meeting Date: 05/27/2004
Issuer: 372917		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK PURCHASE PLAN		Management	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	AMEND DIRECTOR STOCK OPTION PLAN		Management	For	No
05	AMEND ARTICLES/BYLAW/CHARTER-ORGANIZATION RELATED		Management	Against	Yes
06	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

NEXTEL COMMUNICATIONS, INC.			NXTL	Annual Meeting Date: 05/27/2004
Issuer: 65332V		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND STOCK PURCHASE PLAN		Management	For	No

CERNER CORPORATION			CERN	Annual Meeting Date: 05/28/2004
Issuer: 156782		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

GARMIN LTD.			GRMN	Annual Meeting Date: 06/04/2004
Issuer: G37260		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

ALLIANCE DATA SYSTEMS CORPORATION			ADS	Annual Meeting Date: 06/08/2004
Issuer: 018581		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

AMIS HOLDINGS INC				Annual Meeting Date: 06/10/2004
Issuer: 031538		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management		Yes
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

NETGEAR, INC.				Annual Meeting Date: 06/16/2004
Issuer: 64111Q		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

OPSWARE INC.			OPSW	Annual Meeting Date: 06/22/2004
Issuer: 68383A		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ANTHEM, INC.			ATH	Special Meeting Date: 06/28/2004
Issuer: 03674B		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE MERGER AGREEMENT		Management	For	No
02	APPROVE CHARTER AMENDMENT		Management	For	No

CHECK POINT SOFTWARE TECHNOLOGIES LT			CHKP	Annual Meeting Date: 06/30/2004
Issuer: M22465		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
02	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
03	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No
04	APPROVE RENUMERATION OF DIRECTORS		Management	For	No
05	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No

IVY SMALL CAP GROWTH FUND

Proxy Voting Record

CHOLESTECH CORPORATION			CTEC	Annual Meeting Date: 08/14/2003
Issuer: 170393		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
04	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No

COMMONWEALTH TELEPHONE ENTERPRISES,			CTCO	Annual Meeting Date: 09/03/2003
Issuer: 203349		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	MISCELLANEOUS SHAREHOLDER EQUITY		Shareholder	For	No
04	APPROVE ANNUAL MEETING DATE/TIME CHANGE		Management	Abstain	Yes

CELL THERAPEUTICS, INC.			CTIC	Special Meeting Date: 10/23/2003
Issuer: 150934		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE MERGER AGREEMENT		Management	For	No

CHECKFREE CORPORATION			CKFR	Annual Meeting Date: 10/29/2003
Issuer: 162813		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
03	S/H PROPOSAL - ADD WOMEN & MINORITIES TO BOARD		Shareholder	Against	No

DUPONT PHOTOMASKS, INC.			DPMI	Annual Meeting Date: 11/04/2003
Issuer: 26613X		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

LAM RESEARCH CORPORATION			LRCX	Annual Meeting Date: 11/06/2003
Issuer: 512807		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK PURCHASE PLAN		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

TAKE-TWO INTERACTIVE SOFTWARE, INC.			TTWO	Special Meeting Date: 11/17/2003
Issuer: 874054		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No

FINANCIAL FEDERAL CORPORATION			FIF	Annual Meeting Date: 12/09/2003
Issuer: 317492		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ROBERT MONDAVI CORPORATION			MOND	Annual Meeting Date: 12/12/2003
Issuer: 609200		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND OMNIBUS STOCK OPTION PLAN		Management	Against	Yes

MSC INDUSTRIAL DIRECT CO., INC.			MSM	Annual Meeting Date: 01/06/2004
Issuer: 553530		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND RESTRICTED STOCK AWARD PLAN		Management	For	No
03	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
04	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
05	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
06	AMEND STOCK PURCHASE PLAN		Management	For	No
07	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

FACTSET RESEARCH SYSTEMS INC.			FDS	Annual Meeting Date: 01/08/2004
Issuer: 303075		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ANGIOTECH PHARMACEUTICALS, INC.			ANPI	Special Meeting Date: 01/20/2004
Issuer: 034918		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE STOCK SPLIT		Shareholder	For	No
02	ADOPT STOCK OPTION PLAN		Management	For	No
03	TRANSACT OTHER BUSINESS		Management	Against	Yes

SONIC CORP.			SONC	Annual Meeting Date: 01/21/2004
Issuer: 835451		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	TRANSACT OTHER BUSINESS		Management	Against	Yes

GRIFFON CORPORATION			GFF	Annual Meeting Date: 02/05/2004
Issuer: 398433		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

VARIAN SEMICONDUCTOR EQUIP. ASSOC.,			VSEA	Annual Meeting Date: 02/10/2004
Issuer: 922207		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
03	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

PLEXUS CORP.			PLXS	Annual Meeting Date: 02/11/2004
Issuer: 729132		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

RAYMOND JAMES FINANCIAL, INC.			RJF	Annual Meeting Date: 02/12/2004
Issuer: 754730		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	INCENTIVE STOCK OPTIONS		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

AMERICAN ITALIAN PASTA COMPANY			PLB	Annual Meeting Date: 02/19/2004
Issuer: 027070		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

THE ADVISORY BOARD COMPANY			ABCO	Annual Meeting Date: 02/25/2004
Issuer: 00762W		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

HOLOGIC, INC.			HOLX	Annual Meeting Date: 03/01/2004
Issuer: 436440		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No

NORDSON CORPORATION			NDSN	Annual Meeting Date: 03/11/2004
Issuer: 655663		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT STOCK PERFORMANCE PLAN		Management	Against	Yes
03	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	No

HEADWATERS INCORPORATED			HDWR	Annual Meeting Date: 03/12/2004
Issuer: 42210P		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No

MARTEK BIOSCIENCES CORPORATION			MATK	Annual Meeting Date: 03/18/2004
Issuer: 572901		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No

MAXIMUS, INC.			MMS	Annual Meeting Date: 03/18/2004
Issuer: 577933		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management		Yes
02	AMEND STOCK PURCHASE PLAN		Management	For	No

THERASENSE, INC.			THER	Special Meeting Date: 04/05/2004
Issuer: 883381		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE MERGER AGREEMENT		Management	For	No

CHICAGO MERCANTILE EXCHANGE HOLDINGS			CME	Annual Meeting Date: 04/21/2004
Issuer: 167760		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

FLIR SYSTEMS, INC.			FLIR	Annual Meeting Date: 04/21/2004
Issuer: 302445		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No

FMC TECHNOLOGIES, INC.			FTI	Annual Meeting Date: 04/21/2004
Issuer: 30249U		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

CROWN HOLDINGS, INC.			CCK	Annual Meeting Date: 04/22/2004
Issuer: 228368		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No

BROOKS AUTOMATION, INC.				Annual Meeting Date: 04/27/2004
Issuer: 114340		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK OPTION PLAN		Management	For	No
03	AMEND STOCK PURCHASE PLAN		Management	For	No

INTER-TEL, INCORPORATED			INTL	Annual Meeting Date: 04/27/2004
Issuer: 458372		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	TRANSACT OTHER BUSINESS		Management	Against	Yes

SONOSITE, INC.			SONO	Annual Meeting Date: 04/27/2004
Issuer: 83568G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ALARIS MEDICAL SYSTEMS INC.			AMI	Annual Meeting Date: 04/28/2004
Issuer: 011637		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
03	AMEND NON-EMPLOYEE DIRECTOR PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ANNTAYLOR STORES CORPORATION			ANN	Annual Meeting Date: 04/29/2004
Issuer: 036115		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

AXCELIS TECHNOLOGIES, INC.			ACLS	Annual Meeting Date: 04/29/2004
Issuer: 054540		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

GUITAR CENTER, INC.			GTRC	Annual Meeting Date: 04/29/2004
Issuer: 402040		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT STOCK AWARDS PLAN		Management	For	No

CUMULUS MEDIA INC.			CMLS	Annual Meeting Date: 04/30/2004
Issuer: 231082		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

PEGASUS SOLUTIONS, INC.			PEGS	Annual Meeting Date: 05/03/2004
Issuer: 705906		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

CENTENE CORPORATION				Annual Meeting Date: 05/04/2004
Issuer: 15135B		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No

O'REILLY AUTOMOTIVE, INC.			ORLY	Annual Meeting Date: 05/04/2004
Issuer: 686091		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
3A	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
3B	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No

POWER-ONE, INC.			PWER	Annual Meeting Date: 05/04/2004
Issuer: 739308		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	Against	Yes
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

BIOMARIN PHARMACEUTICAL INC.				Annual Meeting Date: 05/05/2004
Issuer: 09061G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

EMC CORPORATION			EMC	Annual Meeting Date: 05/05/2004
Issuer: 268648		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK OPTION PLAN TO INCREASE SHARES		Management	For	No
03	AMEND STOCK PURCHASE PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

SECURE COMPUTING CORPORATION			SCUR	Annual Meeting Date: 05/05/2004
Issuer: 813705		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	AMEND STOCK OPTION PLAN TO INCREASE SHARES		Management	For	No
04	AMEND STOCK PURCHASE PLAN		Management	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

SPINNAKER EXPLORATION COMPANY			SKE	Annual Meeting Date: 05/05/2004
Issuer: 84855W		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

KANSAS CITY SOUTHERN			KSU	Annual Meeting Date: 05/06/2004
Issuer: 485170		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

LINENS 'N THINGS, INC.			LIN	Annual Meeting Date: 05/06/2004
Issuer: 535679		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No

METTLER-TOLEDO INTERNATIONAL INC.			MTD	Annual Meeting Date: 05/06/2004
Issuer: 592688		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No

NEWFIELD EXPLORATION COMPANY			NFX	Annual Meeting Date: 05/06/2004
Issuer: 651290		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ODYSSEY HEALTHCARE, INC.			ODSY	Annual Meeting Date: 05/06/2004
Issuer: 67611V		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

TOM BROWN, INC.			TBI	Annual Meeting Date: 05/06/2004
Issuer: 115660		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No

FILENET CORPORATION			FILE	Annual Meeting Date: 05/07/2004
Issuer: 316869		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

COX RADIO, INC.			CXR	Annual Meeting Date: 05/11/2004
Issuer: 224051		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT STOCK PURCHASE PLAN		Management	For	No
03	AMEND LONG TERM INCENTIVE PLAN		Management	For	No

NATIONAL INSTRUMENTS CORPORATION			NATI	Annual Meeting Date: 05/11/2004
Issuer: 636518		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No

MYOGEN, INC.				Annual Meeting Date: 05/12/2004
Issuer: 62856E		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ENTERCOM COMMUNICATIONS CORP.			ETM	Annual Meeting Date: 05/13/2004
Issuer: 293639		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

FORMFACTOR, INC.			FORM	Annual Meeting Date: 05/13/2004
Issuer: 346375		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

GENTEX CORPORATION			GNTX	Annual Meeting Date: 05/13/2004
Issuer: 371901		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT STOCK OPTION PLAN		Management	For	No
03	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

HCC INSURANCE HOLDINGS, INC.			HCC	Annual Meeting Date: 05/13/2004
Issuer: 404132		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No

VISX, INCORPORATED			EYE	Annual Meeting Date: 05/13/2004
Issuer: 92844S		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK OPTION PLAN		Management	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

NABI BIOPHARMACEUTICALS			NABI	Annual Meeting Date: 05/14/2004
Issuer: 629519		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	Against	Yes
04	ADOPT NON-EMPLOYEE DIRECTOR PLAN		Management	For	No

TEKELEC			TKLC	Annual Meeting Date: 05/14/2004
Issuer: 879101		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK OPTION PLAN TO INCREASE SHARES		Management	For	No
03	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
04	AMEND NON-EMPLOYEE DIRECTOR PLAN TO INCREASE SHARES		Management	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

GETTY IMAGES, INC.			GYI	Annual Meeting Date: 05/17/2004
Issuer: 374276		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

		��
OMNICARE, INC.			OCR	Annual Meeting Date: 05/18/2004
Issuer: 681904		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	Against	Yes
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

PROVINCE HEALTHCARE COMPANY			PRV	Annual Meeting Date: 05/18/2004
Issuer: 743977		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ASK JEEVES, INC.			ASKJ	Annual Meeting Date: 05/19/2004
Issuer: 045174		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

COMMONWEALTH TELEPHONE ENTERPRISES,			CTCO	Annual Meeting Date: 05/19/2004
Issuer: 203349		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT NON-EMPLOYEE DIRECTOR PLAN		Management	For	No

IDEXX LABORATORIES, INC.			IDXX	Annual Meeting Date: 05/19/2004
Issuer: 45168D		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

PERFORMANCE FOOD GROUP COMPANY			PFGC	Annual Meeting Date: 05/19/2004
Issuer: 713755		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK PURCHASE PLAN		Management	For	No

AMSURG CORP.			AMSG	Annual Meeting Date: 05/20/2004
Issuer: 03232P		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE LIQUIDATION PLAN		Management	For	No
03	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

BORDERS GROUP, INC.			BGP	Annual Meeting Date: 05/20/2004
Issuer: 099709		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

CYMER, INC.			CYMI	Annual Meeting Date: 05/20/2004
Issuer: 232572		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management		Yes
02	AMEND STOCK PURCHASE PLAN TO INCREASE SHARES		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	Against	Yes

STONE ENERGY CORPORATION			SGY	Annual Meeting Date: 05/20/2004
Issuer: 861642		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No

U.S.I. HOLDINGS CORPORATION			USIH	Annual Meeting Date: 05/21/2004
Issuer: 90333H		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	TRANSACT OTHER BUSINESS		Management	Against	Yes

JEFFERIES GROUP, INC.			JEF	Annual Meeting Date: 05/24/2004
Issuer: 472319		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No

LABONE, INC.			LABS	Annual Meeting Date: 05/24/2004
Issuer: 50540L		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN TO INCREASE		Management	For	No
	SHARES

REMINGTON OIL AND GAS CORPORATION			REM	Annual Meeting Date: 05/24/2004
Issuer: 759594		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No

COMMUNITY HEALTH SYSTEMS, INC.			CYH	Annual Meeting Date: 05/25/2004
Issuer: 203668		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	For	Yes

SAPIENT CORPORATION			SAPE	Annual Meeting Date: 05/25/2004
Issuer: 803062		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	DECLASSIFY BOARD		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

WILSON GREATBATCH TECHNOLOGIES, INC.			GB	Annual Meeting Date: 05/25/2004
Issuer: 972232		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

ADVANCED NEUROMODULATION SYSTEMS, IN			ANSI	Annual Meeting Date: 05/26/2004
Issuer: 00757T		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No

AVID TECHNOLOGY, INC.			AVID	Annual Meeting Date: 05/26/2004
Issuer: 05367P		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

GRAFTECH INTERNATIONAL LTD.			GTI	Annual Meeting Date: 05/26/2004
Issuer: 384313		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
A	ELECTION OF DIRECTORS		Management	For	No
B	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

KROLL, INC.			KROL	Annual Meeting Date: 05/26/2004
Issuer: 501049		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

LEXAR MEDIA, INC.			LEXR	Annual Meeting Date: 05/26/2004
Issuer: 52886P		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

MINERALS TECHNOLOGIES INC.			MTX	Annual Meeting Date: 05/26/2004
Issuer: 603158		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

PHARMACEUTICAL RESOURCES, INC.			PRX	Annual Meeting Date: 05/26/2004
Issuer: 717125		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE COMPANY NAME CHANGE		Management	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	ADOPT STOCK OPTION PLAN		Management	For	No
05	ADOPT MANAGEMENT INCENTIVE PLAN		Management	For	No

THE BOMBAY COMPANY, INC.			BBA	Annual Meeting Date: 05/26/2004
Issuer: 097924		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

INFORMATICA CORPORATION			INFA	Annual Meeting Date: 05/27/2004
Issuer: 45666Q		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

THE TALBOTS, INC.			TLB	Annual Meeting Date: 05/27/2004
Issuer: 874161		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

CERNER CORPORATION			CERN	Annual Meeting Date: 05/28/2004
Issuer: 156782		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal		��	Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

POLYCOM, INC.			PLCM	Annual Meeting Date: 06/02/2004
Issuer: 73172K		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

CIPHERGEN BIOSYSTEMS, INC.			CIPH	Annual Meeting Date: 06/03/2004
Issuer: 17252Y		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
04	AMEND STOCK PURCHASE PLAN		Management	For	No

INTERDIGITAL COMMUNICATIONS CORPORAT			IDCC	Annual Meeting Date: 06/03/2004
Issuer: 45866A		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

POWER INTEGRATIONS, INC.			POWI	Annual Meeting Date: 06/03/2004
Issuer: 739276		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK OPTION PLAN		Management	For	No
03	AMEND STOCK PURCHASE PLAN TO INCREASE SHARES		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ZEBRA TECHNOLOGIES CORPORATION			ZBRA	Annual Meeting Date: 06/03/2004
Issuer: 989207		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

REALNETWORKS, INC.			RNWK	Annual Meeting Date: 06/04/2004
Issuer: 75605L		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT DIRECTOR STOCK OPTION PLAN		Management	For	No

DOUBLECLICK INC.			DCLK	Annual Meeting Date: 06/07/2004
Issuer: 258609		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

AFFILIATED MANAGERS GROUP, INC.			AMG	Annual Meeting Date: 06/08/2004
Issuer: 008252		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

NEWPARK RESOURCES, INC.			NR	Annual Meeting Date: 06/09/2004
Issuer: 651718		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT NON-EMPLOYEE DIRECTOR PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ANGIOTECH PHARMACEUTICALS, INC.			ANPI	Special Meeting Date: 06/10/2004
Issuer: 034918		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	FIX NUMBER OF DIRECTORS		Management	For	No
02	ELECTION OF DIRECTORS		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No
05	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
06	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes
07	ARTICLES OF ASSOCIATION		Management	For	No
08	TRANSACT OTHER BUSINESS		Management	For	No

SEMTECH CORPORATION			SMTC	Annual Meeting Date: 06/10/2004
Issuer: 816850		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

LIFEPOINT HOSPITALS, INC.			LPNT	Annual Meeting Date: 06/15/2004
Issuer: 53219L		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND LONG TERM INCENTIVE PLAN		Management	For	No
03	AMEND NON-EMPLOYEE DIRECTOR PLAN		Management	For	No
04	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

AEROPOSTALE, INC.			ARO	Annual Meeting Date: 06/16/2004
Issuer: 007865		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	CLASSIFY/STAGGER BOARD OF DIRECTORS		Management	Against	Yes
02	ELECTION OF DIRECTORS		Management	For	No
03	STOCK BONUS PLAN		Management	For	No

TAKE-TWO INTERACTIVE SOFTWARE, INC.			TTWO	Annual Meeting Date: 06/17/2004
Issuer: 874054		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK OPTION PLAN TO INCREASE SHARES		Management	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN TO INCREASE		Management	For	No
	SHARES

AMERICAN EAGLE OUTFITTERS, INC.			AEOS	Annual Meeting Date: 06/22/2004
Issuer: 02553E		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	Against	No
03	S/H PROPOSAL - HUMAN RIGHTS RELATED		Shareholder	Against	No

MICROMUSE INC.			MUSE	Annual Meeting Date: 06/23/2004
Issuer: 595094		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

CKE RESTAURANTS, INC.			CKR	Annual Meeting Date: 06/28/2004
Issuer: 12561E		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

PATTERSON-UTI ENERGY, INC.			PTEN	Annual Meeting Date: 06/29/2004
Issuer: 703481		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

EMMIS COMMUNICATIONS CORPORATION			EMMS	Annual Meeting Date: 06/30/2004
Issuer: 291525		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No

IVY SMALL CAP GROWTH FUND

Proxy Voting Record of the Advantus Enterprise Fund, Inc., which merged into the Ivy Small Cap Growth Fund on December 8, 2003.

Vote Summary Report
Jul 01, 2003 - Sep 30, 2003
ADVANTUS ENTERPRISE FUND
Mtg	Company/				Mgmt	Vote	Record		Shares
Date/Type	Ballot Issues			Security	Rec	Cast	Date	Prpnent	Voted
08/21/03 - A	Adaptec, Inc. *ADPT*			00651F108			6/25/03	40,100
	1	Elect Directors			For	Split		Mgmt
	1.1	Elect Director Carl J. Conti --- For
	1.2	Elect Director Victoria L. Cotten --- For
	1.3	Elect Director Lucie J. Fjeldstad --- Withhold
	1.4	Elect Director Joseph S. Kennedy --- For
	1.5	Elect Director Ilene H. Lang --- Withhold
	1.6	Elect Director Robert J. Loarie --- Withhold
	1.7	Elect Director Robert N. Stephens --- For
	1.8	Elect Director Dr. Douglas E. Van Houweling --- For
	2	Amend Employee Stock Purchase Plan			For	For		Mgmt
	3	Ratify Auditors			For	Against		Mgmt
07/29/03 - A	Airgas, Inc. *ARG*			9363102			6/19/03	31,600
	1	Elect Directors			For	For		Mgmt
	2	Approve Employee Stock Purchase Plan			For	For		Mgmt
	3	Approve Executive Incentive Bonus Plan			For	For		Mgmt
	4	Ratify Auditors			For	For		Mgmt
07/17/03 - A	Apria Healthcare Group, Inc. *AHG*			37933108			5/30/03	13,800
	1	Elect Directors			For	For		Mgmt
	2	Approve Omnibus Stock Plan			For	For		Mgmt
07/29/03 - A	Manugistics Group, Inc. *MANU*			565011103			6/18/03	96,884
	1	Elect Directors			For	Split		Mgmt
	1.1	Elect Director Joseph H. Jacovini --- Withhold
			We recommend a vote FOR the directors with the exception of Joseph H. Jacovini. We recommend that shareholders WITHHOLD votes from Joseph H. Jacovini for standing as an affiliated outsider on the Nominating Committee.
	1.2	Elect Director Gregory J. Owens --- For
	1.3	Elect Director Thomas A. Skelton --- For
	2	Amend Stock Option Plan			For	Against		Mgmt
			Vote Recommendation                We commend the company for expressly forbidding the repricing of stock options under the plan. However, the total cost of the plan of 22.16 percent exceeds our allowable cap for this company of 19.73 percent.
	3	Ratify Auditors			For	For		Mgmt
07/24/03 - A	Radiant Systems, Inc. *RADS*			75025N102			6/16/03	82,500
	1	Elect Directors			For	Withhold		Mgmt
	1.1	Elect Director Erez Goren --- Withhold
			We recommend withholding votes from all of the nominees. We recommend that shareholders WITHHOLD votes from insider Erez Goren for standing as an insider on the Compensation Committee and for failure to establish an independent nominating committee, and insider Alon Goren for failure to establish an independent nominating committee.
	1.2	Elect Director Alon Goren --- Withhold
08/26/03 - A	webMethods, Inc. *WEBM*			94768C108			7/10/03	34,600
	1	Elect Directors			For	For		Mgmt
	2	Ratify Auditors			For	For		Mgmt

IVY TAX-MANAGED EQUITY FUND

Proxy Voting Record

DELL COMPUTER CORPORATION			DELL	Annual Meeting Date: 07/18/2003
Issuer: 247025		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	DECLASSIFY BOARD		Management	For	No
03	APPROVE COMPANY NAME CHANGE		Management	For	No
04	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No

CHECK POINT SOFTWARE TECHNOLOGIES LT			CHKP	Annual Meeting Date: 07/31/2003
Issuer: M22465		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
02	MISCELLANEOUS CORPORATE GOVERNANCE		Management	For	No
03	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	No
04	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	No
05	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	No
06	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	Against	Yes

FOREST LABORATORIES, INC.			FRX	Annual Meeting Date: 08/11/2003
Issuer: 345838		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ZIMMER HOLDINGS, INC.			ZMH	Special Meeting Date: 08/21/2003
Issuer: 98956P		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	MISCELLANEOUS CORPORATE ACTIONS		Management	For	No

AMERICAN FINANCIAL REALTY TRUST				Annual Meeting Date: 09/25/2003
Issuer: 02607P		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	DECLASSIFY BOARD		Management	For	No
02	ELECTION OF DIRECTORS		Management	For	No
03	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No

BOSTON SCIENTIFIC CORPORATION			BSX	Special Meeting Date: 10/06/2003
Issuer: 101137		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE CHARTER AMENDMENT		Management	For	No

BARR LABORATORIES, INC.			BRL	Annual Meeting Date: 10/23/2003
Issuer: 068306		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE REINCORPORATION TO DELAWARE		Management	Against	Yes
03	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	Against	Yes

TEVA PHARMACEUTICAL INDUSTRIES LIMIT			TEVA	Special Meeting Date: 10/27/2003
Issuer: 881624		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	CHANGE STOCK EXCHANGE LISTING		Management	For	No
02	CHANGE STOCK EXCHANGE LISTING		Management	For	No

FIRST DATA CORPORATION			FDC	Special Meeting Date: 10/28/2003
Issuer: 319963		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE MERGER AGREEMENT		Management	For	No

CISCO SYSTEMS, INC.			CSCO	Annual Meeting Date: 11/11/2003
Issuer: 17275R		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK PURCHASE PLAN TO INCREASE SHARES		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	S/H PROPOSAL - BUSINESS/INVESTMENT		Shareholder	Against	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

MICROSOFT CORPORATION			MSFT	Annual Meeting Date: 11/11/2003
Issuer: 594918		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	Against	Yes
03	AMEND NON-EMPLOYEE DIRECTOR PLAN		Management	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

BIOGEN, INC.			BGEN	Special Meeting Date: 11/12/2003
Issuer: 090597		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE MERGER AGREEMENT		Management	For	No
02	APPROVE MOTION TO ADJOURN MEETING		Management	Against	Yes

APACHE CORPORATION			APA	Special Meeting Date: 12/18/2003
Issuer: 037411		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No

COSTCO WHOLESALE CORPORATION			COST	Annual Meeting Date: 01/29/2004
Issuer: 22160K		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	S/H PROPOSAL - DECLASSIFY BOARD		Shareholder	For	Yes
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ANALOG DEVICES, INC.			ADI	Annual Meeting Date: 03/09/2004
Issuer: 032654		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

THE GOLDMAN SACHS GROUP, INC.			GS	Annual Meeting Date: 03/31/2004
Issuer: 38141G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes

TEXAS INSTRUMENTS INCORPORATED			TXN	Annual Meeting Date: 04/15/2004
Issuer: 882508		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes

GENENTECH, INC.			DNA	Consent Meeting Date: 04/16/2004
Issuer: 368710		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE CHARTER AMENDMENT		Management	Against	Yes
02	ELECTION OF DIRECTORS		Management	For	No
2B1	CHANGE STOCK EXCHANGE LISTING		Management	For
2B2	CHANGE STOCK EXCHANGE LISTING		Management	For
2B3	CHANGE STOCK EXCHANGE LISTING		Management	For
03	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
04	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

ELI LILLY AND COMPANY			LLY	Annual Meeting Date: 04/19/2004
Issuer: 532457		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

CITIGROUP INC.			C	Annual Meeting Date: 04/20/2004
Issuer: 172967		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
05	S/H PROPOSAL - DECLASSIFY BOARD		Shareholder	Against	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No

MORGAN STANLEY			MWD	Annual Meeting Date: 04/20/2004
Issuer: 617446		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - REPORT ON EMPLOYEES EARNING OVER		Shareholder	For	Yes
	$100,000
04	S/H PROPOSAL - PUT GOLDEN PARACHUTE TO SHAREHOLDER		Shareholder	Against	No
	VOTE
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

SPRINT CORPORATION			FON	Annual Meeting Date: 04/20/2004
Issuer: 852061		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - OVERRIDE CSA VOTE RESTRICTIONS		Shareholder	For	Yes
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No

BURLINGTON RESOURCES INC.			BR	Annual Meeting Date: 04/21/2004
Issuer: 122014		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

LEXMARK INTERNATIONAL, INC.			LXK	Annual Meeting Date: 04/22/2004
Issuer: 529771		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

PFIZER INC.			PFE	Annual Meeting Date: 04/22/2004
Issuer: 717081		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	For	Yes
06	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
09	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	Against	No
10	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	No

MERRILL LYNCH & CO., INC.			MER	Annual Meeting Date: 04/23/2004
Issuer: 590188		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes

ALLERGAN, INC.			AGN	Annual Meeting Date: 04/28/2004
Issuer: 018490		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes

AETNA INC.			AET	Annual Meeting Date: 04/30/2004
Issuer: 00817Y		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	S/H PROPOSAL - DECLASSIFY BOARD		Shareholder	Against	No
04	S/H PROPOSAL - REINCORPORATE OUT OF DELAWARE		Shareholder	Against	No

BERKSHIRE HATHAWAY INC.			BRKA	Annual Meeting Date: 05/03/2004
Issuer: 084670		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No

EMC CORPORATION			EMC	Annual Meeting Date: 05/05/2004
Issuer: 268648		ISIN:
SEDOL:
Vote Group: GLOBAL
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Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND STOCK OPTION PLAN TO INCREASE SHARES		Management	For	No
03	AMEND STOCK PURCHASE PLAN		Management	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

ANADARKO PETROLEUM CORPORATION			APC	Annual Meeting Date: 05/06/2004
Issuer: 032511		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
04	S/H PROPOSAL - ENVIRONMENTAL		Shareholder	Against	No

APACHE CORPORATION			APA	Annual Meeting Date: 05/06/2004
Issuer: 037411		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No

SAP AG			SAP	Annual Meeting Date: 05/06/2004
Issuer: 803054		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
02	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
03	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
04	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
05	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
06	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
07	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes
08	CHANGE STOCK EXCHANGE LISTING		Management	Take No Action	Yes

ZIMMER HOLDINGS, INC.			ZMH	Annual Meeting Date: 05/10/2004
Issuer: 98956P		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	For	Yes
	RATIFY POISON PILL
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	For	Yes

BOSTON SCIENTIFIC CORPORATION			BSX	Annual Meeting Date: 05/11/2004
Issuer: 101137		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

GAP, INC.			GPS	Annual Meeting Date: 05/12/2004
Issuer: 364760		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

ST. JUDE MEDICAL, INC.			STJ	Annual Meeting Date: 05/12/2004
Issuer: 790849		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

AMGEN INC.			AMGN	Annual Meeting Date: 05/13/2004
Issuer: 031162		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
3A	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
3B	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes

ANTHEM, INC.			ATH	Annual Meeting Date: 05/17/2004
Issuer: 03674B		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No

INTEL CORPORATION			INTC	Annual Meeting Date: 05/19/2004
Issuer: 458140		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

MERCURY INTERACTIVE CORPORATION			MERQ	Annual Meeting Date: 05/19/2004
Issuer: 589405		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

SOUTHWEST AIRLINES CO.			LUV	Annual Meeting Date: 05/19/2004
Issuer: 844741		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

TEVA PHARMACEUTICAL INDUSTRIES LIMIT			TEVA	Annual Meeting Date: 05/20/2004
Issuer: 881624		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	CHANGE STOCK EXCHANGE LISTING		Management	For	No
02	CHANGE STOCK EXCHANGE LISTING		Management	Against	Yes
3A	CHANGE STOCK EXCHANGE LISTING		Management	For	No
3B	CHANGE STOCK EXCHANGE LISTING		Management	For	No
3C	CHANGE STOCK EXCHANGE LISTING		Management	For	No
3D	CHANGE STOCK EXCHANGE LISTING		Management	For	No
3E	CHANGE STOCK EXCHANGE LISTING		Management	For	No
04	CHANGE STOCK EXCHANGE LISTING		Management	Against	Yes
05	CHANGE STOCK EXCHANGE LISTING		Management	For	No

GILEAD SCIENCES, INC.			GILD	Annual Meeting Date: 05/25/2004
Issuer: 375558		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No

COGNIZANT TECHNOLOGY SOLUTIONS CORP.			CTSH	Annual Meeting Date: 05/26/2004
Issuer: 192446		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND ARTICLES/BYLAW/CHARTER-ORGANIZATION RELATED		Management	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
04	ADOPT STOCK PURCHASE PLAN		Management	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

EXXON MOBIL CORPORATION			XOM	Annual Meeting Date: 05/26/2004
Issuer: 30231G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	No
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	For	Yes
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
09	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
10	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
11	S/H PROPOSAL - ENVIRONMENTAL		Shareholder	Against	No

PANERA BREAD COMPANY			PNRA	Annual Meeting Date: 05/27/2004
Issuer: 69840W		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

NABORS INDUSTRIES LTD.			NBR	Annual Meeting Date: 06/01/2004
Issuer: G6359F		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
03	APPROVE REINCORPORATION TO DELAWARE		Management	Against	No

WAL-MART STORES, INC.			WMT	Annual Meeting Date: 06/04/2004
Issuer: 931142		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	No
04	ADOPT STOCK PURCHASE PLAN		Management	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	No
07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No
09	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
10	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	No
11	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	No

EBAY INC.			EBAY	Annual Meeting Date: 06/24/2004
Issuer: 278642		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	AMEND INCENTIVE STOCK OPTION PLAN TO INCREASE		Management	For	No
	SHARES
03	AMEND INCENTIVE STOCK OPTION PLAN TO INCREASE		Management	For	No
	SHARES
04	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No
06	S/H PROPOSAL - FORM SHAREHOLDER ADVISORY COMMITTEE		Shareholder	For	Yes

ANTHEM, INC.			ATH	Special Meeting Date: 06/28/2004
Issuer: 03674B		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	APPROVE MERGER AGREEMENT		Management	For	No
02	APPROVE CHARTER AMENDMENT		Management	For	No

PATTERSON-UTI ENERGY, INC.			PTEN	Annual Meeting Date: 06/29/2004
Issuer: 703481		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	Against
Number	Proposal		Type	Cast	Mgmt.
01	ELECTION OF DIRECTORS		Management	For	No
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Shareholder	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	No
04	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	No

SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

IVY FUNDS, INC.
(Registrant)

By: /s/Kristen A. Richards
          Kristen A. Richards, Vice President and Secretary

Date: August 31, 2004

By: /s/Henry J. Herrmann
          Henry J. Herrmann, President and Principal Executive Officer

Date: August 31, 2004