UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-7395
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GROWTH TRUST
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(Exact name of registrant as specified in charter)
200 AXP Financial Center, Minneapolis, Minnesota 55474
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(Address of principal executive offices) (Zip code)
Leslie L. Ogg - 901 S. Marquette Avenue, Suite 2810, Minneapolis, MN 55402-3268
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(Name and address of agent for service)
Registrant's telephone number, including area code: (612) 330-9283
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Date of fiscal year end: 7/31
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Date of reporting period: 7/31
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Item 1. Reports to Shareholders.
Information about Aggressive Growth Portfolio is incorporated by reference to
Form N-CSR for AXP Research Opportunities Fund, a series of AXP
Growth Series, Inc., Investment Company Act File No. 811-2111 (the
Feeder Fund filing) filed electronically on or about October 1, 2003.
Information about Growth Portfolio is incorporated by reference to Form N-CSR
for AXP Growth Fund, a series of AXP Growth Series, Inc., Investment Company Act
File No. 811-2111 (the Feeder Fund filing) filed electronically on or about
October 1, 2003.
Information about Growth Trends Portfolio is incorporated by reference to
Form N-CSR for AXP New Dimensions Fund, a series of AXP Dimensions Series, Inc.,
Investment Company Act File No. 811-1629 (the Feeder Fund filing) filed
electronically on or about October 1, 2003.
Item 2. (a) The Registrant has adopted a code of ethics that applies to the
Registrant's principal executive officer and principal financial
officer.
(b) During the period covered by this report, there were not any
amendments to the provisions of the code of ethics adopted in 2(a)
above.
(c) During the period covered by this report, there were not any
implicit or explicit waivers to the provisions of the code of ethics
adopted in 2(a).
Item 3. The Registrant's board of directors has determined that independent
directors Livio D. DeSimone, Anne P. Jones, and Alan G. Quasha, each
qualify as audit committee financial experts.
Item 4. Principal Accountant Fees and Services. Not applicable pursuant to
SEC Release No. IC-25915 (January 28, 2003).
Items 5-6. [Reserved]
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End
Management Investment Companies. Not applicable.
Item 8. [Reserved]
Item 9. Controls and Procedures.
(a) The Registrant's Principal Executive Officer and Principal
Financial Officer have evaluated the registrant's disclosure
controls and procedures within 90 days of this filing and have
concluded that the registrant's disclosure controls and
procedures by the registrant in this Form N-CSR was recorded,
processed, summarized, and reported timely.
(b) At the date of filing this Form N-CSR, the registrant's Principal
Executive Officer and Principal Financial Officer are aware of no
significant changes in the registrant's internal controls or in
other factors that could significantly affect these controls
subsequent to the date of their evaluation, including any
corrective actions with regard to significant deficiencies and
material weaknesses.
Item 10. Exhibits.
(a) Code of ethics as applies to the Registrant's principal executive
officer and principal financial officer, as required to be disclosed
under Item 2 of Form N-CSR, is attached as Ex. 99.CODE ETH.
(b) Separate certification for the Registrant's principal executive
officer and principal financial officer, as required by Section 302
of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the
Investment Company Act of 1940, are attached as EX.99.CERT.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and 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.
(Registrant) Growth Trust
By /s/ Paula R. Meyer
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Paula R. Meyer
President and Principal Executive Officer
Date October 1, 2003
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By /s/ Paula R. Meyer
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Paula R. Meyer
President and Principal Executive Officer
Date October 1, 2003
By /s/ Jeffrey P. Fox
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Jeffrey P. Fox
Treasurer and Principal Financial Officer
Date October 1, 2003