UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-PX
FORM N-PX
Annual Report of Proxy voting Record of
Registered Management Investment Company
Investment Company Act file number 811-07585
IPC Funds
(Exact name of registrant as specified in charter)
c/o Frost Brown Todd LLC,
2200 PNC Center, 201 E. 5th St.,
Cincinnati OH 45202-4182
(Address of principal executive offices)(Zip code)
Robert C. Thurmond, 4855 Gedney View, Clinton WA 98236
(Name and address of agent for service)
Registrant's telephone number,
including area code: Registrant no longer maintains a telephone number
To contact registrant, please call
Karen M. McLaughlin of Frost Brown Todd LLC
at 513.651.6800.
--------------------------------------------------
Date of fiscal year end: June 30
Date of reporting period: 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 (ss.ss.
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.
ITEM 1. PROXY VOTING RECORD
IPC FUNDS--WWW INTERNET FUND SERIES
.....................................................................................................................................
PROPOSED BY WHETHER WHETHER FUND
SHAREHOLDER ISSUER (I) FUND VOTED VOTED FOR (F)
TICKER MEETING OR SECURITY (Y=YES) HOW FUND OR AGAINST (A)
NAME OF ISSUER SYMBOL CUSIP DATE MATTER(S) HOLDER (S) (N=NO) VOTED MANAGEMENT
- ------------------------------------------------------------------------------------------------------------------------------------
Peoplesoft, Inc. PSFT 712713106 3/25/04 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
Peoplesoft, Inc. PSFT 712713106 3/25/04 Ratify KPMG as I Y For F
independent auditors
.....................................................................................................................................
.....................................................................................................................................
Peoplesoft, Inc. PSFT 712713106 3/25/04 Expensing options S Y For A
.....................................................................................................................................
.....................................................................................................................................
Peoplesoft, Inc. PSFT 712713106 3/25/04 Oracle's proposal S Y Against F
to amend PeopleSoft's based on
bylaws to provide recommendation
that newly created of Directors
directorships may only
be filled by stockholder
vote and increase
number of directors
from 8 to 9
.....................................................................................................................................
.....................................................................................................................................
Peoplesoft, Inc. PSFT 712713106 3/25/04 Oracle's proposal to S Y Withhold F
electt Duke Bristow
to fill 9th board
seat if #4 passes
.....................................................................................................................................
.....................................................................................................................................
Bookham Technology, BKHM 09856Q108 3/5/04 Acquisition by merger I Y For F
of New Focus, Inc.
upon the terms and
conditions of the
agreement dated
9/21/2003 be approved
.....................................................................................................................................
.....................................................................................................................................
Bookham Technology, BKHM 09856Q108 3/5/04 Passing #1 that the I Y For F
PLC authorized shares of
capital of the Company
be increased from
1mm to 1.5mm by
creation of 150mm
additional shares at
1/3P each
.....................................................................................................................................
.....................................................................................................................................
Bookham Technology, BKHM 09856Q108 3/5/04 Passing #2 that the I Y For F
PLC dircctors be authorized
to exercise all powers
of the Company to allot
relevant securities
.....................................................................................................................................
.....................................................................................................................................
Bookham Technology, BKHM 09856Q108 3/5/04 Passing #4 that
PLC directors be and are I Y For F
empowered to allot
equity securities
.....................................................................................................................................
Page 1 of 9
.....................................................................................................................................
Marketwatch.com, Inc. MKTW 570619106 1/15/04 Adopt a merger I Y For F
agreement for
Marketwatch.com &
Pinnacor to be wholly
owned subsidiaries of a
new holding co. NMP,
Inc. and each share
of Marketwatch.com
will be converted to one
share of common stock of
NMP, Inc.
.....................................................................................................................................
.....................................................................................................................................
Marketwatch.com, Inc. MKTW 570619106 1/15/04 Adopt 2004 Stock I Y For F
Incentive Plan for
NMP, Inc.
.....................................................................................................................................
.....................................................................................................................................
Marketwatch.com, Inc. MKTW 570619106 1/15/04 Adopt 2004 Employee I Y For F
Stock Purchase Plan
.....................................................................................................................................
.....................................................................................................................................
The Charles Schwab SCH 808513105 5/9/03 Directors I Y Appoint All F
Corp.
.....................................................................................................................................
.....................................................................................................................................
The Charles Schwab SCH 808513105 5/9/03 Approve amendment to I Y For F
Corp. 2001 Stock Incentive
Plan regarding grants to
non-employee Directors
.....................................................................................................................................
.....................................................................................................................................
The Charles Schwab SCH 808513105 5/9/03 To approve the Long-Term I Y For F
Corp. Incentive Plan
.....................................................................................................................................
.....................................................................................................................................
The Charles Schwab SCH 808513105 5/9/03 Approve annual bonus I Y For F
Corp. provisions contained
in employment agreement
.....................................................................................................................................
.....................................................................................................................................
The Charles Schwab SCH 808513105 5/9/03 Approve Incentive Plan I Y Against A
Corp. for Lon Gorman
.....................................................................................................................................
.....................................................................................................................................
The Charles Schwab SCH 808513105 5/9/03 Proposal regarding S Y For A
Corp. expensing of stock
options
.....................................................................................................................................
.....................................................................................................................................
Overstock.com, Inc. OSTK 690370101 4/29/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
Overstock.com, Inc. OSTK 690370101 4/29/03 Ratify appointment of I Y For F
PricewaterhouseCoopers
as independent auditors
.....................................................................................................................................
.....................................................................................................................................
Applied Materials, AMAT 838222105 1/24/03 Directors I Y Appoint All F
Inc.
.....................................................................................................................................
.....................................................................................................................................
Yahoo! Inc. YHOO 984332160 5/16/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
Yahoo! Inc. YHOO 984332160 5/16/03 Amendment of 1995 I Y Against A
Stock Plan
.....................................................................................................................................
.....................................................................................................................................
Yahoo! Inc. YHOO 984332160 5/16/03 Ratify appointment of I Y For F
independent auditor
.....................................................................................................................................
.....................................................................................................................................
Yahoo! Inc. YHOO 984332160 5/16/03 Proposal regarding S Y Against based on F
Company Stockholder recommendation
Rights Plan of Directors
.....................................................................................................................................
Page 2 of 9
.....................................................................................................................................
Yahoo! Inc. YHOO 984332160 5/16/03 Proposal regarding S Y Against based on F
indexed options recommendation
of Directors
.....................................................................................................................................
.....................................................................................................................................
Yahoo! Inc. YHOO 984332160 5/16/03 Proposal regarding S Y For A
expensing of stock
options
.....................................................................................................................................
.....................................................................................................................................
Amazon.com AMZN 23135106 5/28/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
Amazon.com AMZN 23135106 5/28/03 Indexed executive S Y Against based on F
options recommendation
of Directors
.....................................................................................................................................
.....................................................................................................................................
Netflix, Inc. NFLX 64110L106 5/23/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
Netflix, Inc. NFLX 64110L106 5/23/03 Ratify appointment of I Y For F
KPMG as independent
auditors
.....................................................................................................................................
.....................................................................................................................................
Netflix, Inc. NFLX 64110L106 5/23/03 Amend Certificate of I Y For F
Incorporation to reduce
the number of shares of
capital stock the
Company is authorized to
issue from 160mm par
.001 to 90mm par .001
.....................................................................................................................................
.....................................................................................................................................
Verisign, Inc. VRSN 92343E102 5/22/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
Verisign, Inc. VRSN 92343E102 5/22/03 Amend 1998 Directors I Y For F
Stock Option Plan to
increase the number of
shares issuable by 500,000
.....................................................................................................................................
.....................................................................................................................................
Verisign, Inc. VRSN 92343E102 5/22/03 Ratify the appointment I Y For F
of KPMG as independent
auditors 2003
.....................................................................................................................................
.....................................................................................................................................
Internet Security ISSX 46060X107 5/28/03 Directors I Y For F
Systems Inc.
.....................................................................................................................................
.....................................................................................................................................
Internet Security ISSX 46060X107 5/28/03 Amendments to restated I Y For F
Systems Inc. 1995 Stock Incentive
Plan
.....................................................................................................................................
.....................................................................................................................................
DoubleClick, Inc. DCLK 258609304 5/28/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
DoubleClick, Inc. DCLK 258609304 5/28/03 Ratify selection of I Y For F
independent auditors
of PricewaterhouseCoopers LLP
.....................................................................................................................................
.....................................................................................................................................
TheStreet.com TSCM 88368Q103 5/28/03 Directors I Y For F
.....................................................................................................................................
.....................................................................................................................................
TheStreet.com TSCM 88368Q103 5/28/03 Ratify appointment of I Y For F
Ernst & Young as
independent auditors
.....................................................................................................................................
.....................................................................................................................................
USA Interactive IACI 902984103 5/29/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
USA Interactive IACI 902984103 5/29/03 Approve amended and I Y For F
restated 2000 stock and
annual incentive plan
.....................................................................................................................................
.....................................................................................................................................
USA Interactive IACI 902984103 5/29/03 Ratify the appointment I Y For F
of Ernst & Young as
independent auditors
.....................................................................................................................................
Page 3 of 9
.....................................................................................................................................
AOL Time Warner TWX 00184a105 5/16/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
AOL Time Warner TWX 00184a105 5/16/03 Approve 2003 Stock I Y Against A
Incentive Plan
.....................................................................................................................................
.....................................................................................................................................
AOL Time Warner TWX 00184a105 5/16/03 Approve Annual Bonus I Y Abstain A
Plan for Executives
.....................................................................................................................................
.....................................................................................................................................
AOL Time Warner TWX 00184a105 5/16/03 Ratification of auditors I Y For F
.....................................................................................................................................
.....................................................................................................................................
AOL Time Warner TWX 00184a105 5/16/03 China business principles S Y Against based on F
recommendation
of Directors
.....................................................................................................................................
.....................................................................................................................................
AOL Time Warner TWX 00184a105 5/16/03 Report on pay disparity S Y Against based on F
recommendation
of Directors
.....................................................................................................................................
.....................................................................................................................................
Digimarc Corp. DMRCE 253807101 5/22/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
Digimarc Corp. DMRCE 253807101 5/22/03 Ratify appointment of I Y For F
KPMG as independent
auditors
.....................................................................................................................................
.....................................................................................................................................
E Trade Group, Inc. ET 269246104 5/22/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
E Trade Group, Inc. ET 269246104 5/22/03 Ratify appointment of I Y For F
Deloitte & Touche as
independent auditor
.....................................................................................................................................
.....................................................................................................................................
Drugstore.com, Inc. DSCM 262241102 6/12/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
Drugstore.com, Inc. DSCM 262241102 6/12/03 Ratify appointment of I Y For F
Ernst & Young LLP
.....................................................................................................................................
.....................................................................................................................................
Monster Worldwide, MNST 611742107 6/17/03 Directors I Y Appoint All F
Inc.
.....................................................................................................................................
.....................................................................................................................................
Siebel Systems, Inc. SEBL 826170102 6/11/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
Siebel Systems, Inc. SEBL 826170102 6/11/03 Authorization of an I Y For F
aggregate of 15 million
shares of our common
stock for issuance under
2003 stock purchase plan
.....................................................................................................................................
.....................................................................................................................................
Siebel Systems, Inc. SEBL 826170102 6/11/03 Ratify appointment of I Y For F
KPMG as independent
auditors
.....................................................................................................................................
.....................................................................................................................................
Siebel Systems, Inc. SEBL 826170102 6/11/03 Adopt and disclose an S Y For A
equity policy on the
intended use of equity in
management compensation
programs and require a
portion of stock option
grants be performance
based
.....................................................................................................................................
Page 4 or 9
.....................................................................................................................................
Siebel Systems, Inc. SEBL 826170102 6/11/03 Proposal to adopt a S Y Against F
policy that the cost of
employee and director
stock options be
recognized in our income
statement
.....................................................................................................................................
.....................................................................................................................................
Bea Systems, Inc. BEAS 73325102 7/11/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
Bea Systems, Inc. BEAS 73325102 7/11/03 Ratify 2004 Senior I Y Against A
Executive Bonus Plan
.....................................................................................................................................
.....................................................................................................................................
Bea Systems, Inc. BEAS 73325102 7/11/03 Ratify appointment of I Y For F
Ernst and Young
independent auditors
.....................................................................................................................................
.....................................................................................................................................
Charter Communications CHTR 16117M107 7/23/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
Charter Communications CHTR 16117M107 7/23/03 Amend 2001 Stock I Y
Incentive Plan Increase
by 30mm shares of class
A common stock
.....................................................................................................................................
.....................................................................................................................................
Charter Communications CHTR 16117M107 7/23/03 Amend 1999 option plan I Y Against A
and 2001 stock incentive
plan to authorize the
repricing of stock options
.....................................................................................................................................
.....................................................................................................................................
Charter Communications CHTR 16117M107 7/23/03 Ratify appointment of I Y For F
KPMG as independent
auditors
.....................................................................................................................................
.....................................................................................................................................
WebMD Corp. HLTH 94769m105 9/12/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
WebMD Corp. HLTH 94769m105 9/12/03 Ratify amendment to 2000 I Y Against A
long term incentive plan
to increase the number of
shares issued from 9.5
million shares to a
total of 29.5
million shares
.....................................................................................................................................
.....................................................................................................................................
WebMD Corp. HLTH 94769m105 9/12/03 Amend Certificate of I Y Against A
Incorporation to increase
authorized shares of common
stock by 300mm shares
.....................................................................................................................................
.....................................................................................................................................
IVILLAGE, Inc. IVIL 46588h105 10/9/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
IVILLAGE, Inc. IVIL 46588h105 10/9/03 Ratify appointment of I Y For F
PricewaterhouseCoopers
as independent auditors
.....................................................................................................................................
.....................................................................................................................................
Audiocodes LTD AUDC M15342104 10/29/03 Elect Shabtai Alderberg I Y For F
as Class III Director
.....................................................................................................................................
.....................................................................................................................................
Audiocodes LTD AUDC M15342104 10/29/03 Authorize Chairman of I Y For F
the Board to continue
as President & CEO
.....................................................................................................................................
.....................................................................................................................................
Audiocodes LTD AUDC M15342104 10/29/03 Ratify option grant to I Y For F
Chairman of the Board
.....................................................................................................................................
Page 5 of 9
.....................................................................................................................................
Audiocodes LTD AUDC M15342104 10/29/03 Appoint Joseph Tenn I Y For F
Class II director
.....................................................................................................................................
.....................................................................................................................................
Audiocodes LTD AUDC M15342104 10/29/03 Ratify option grant to I Y For F
Joseph Tenne, non-employee
director
.....................................................................................................................................
.....................................................................................................................................
Audiocodes LTD AUDC M15342104 10/29/03 Elect Doron Nevo, I Y For F
Independent Director
.....................................................................................................................................
.....................................................................................................................................
Audiocodes LTD AUDC M15342104 10/29/03 Ratify appointment of I Y For F
independent auditor and
authorization of
compensation to auditors
.....................................................................................................................................
.....................................................................................................................................
Audiocodes LTD AUDC M15342104 10/29/03 Ratify options grant to I Y For F
certain non-employee
directors
.....................................................................................................................................
.....................................................................................................................................
Audiocodes LTD AUDC M15342104 10/29/03 Ratify purchase of I Y For F
directors and officers'
liability insurance
.....................................................................................................................................
.....................................................................................................................................
Audiocodes LTD AUDC M15342104 10/29/03 Indicate if you have a I Y Abstain F
personal interest in
liability insurance issue
#9
.....................................................................................................................................
.....................................................................................................................................
Palm, Inc. PALM 696642206 10/28/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
Palm, Inc. PALM 696642206 10/28/03 Approve and adopt I Y For F
agreement of
reorganization by and
among Palm, Inc., Peace
Separation Corp., a wholly
owned subsidiary of Palm, Inc.,
Harmony Acquisitions Corp, a
subsidiary of Palm, Inc. and
Handspring Inc. and issuance of Palm
common stock to Handspring
.....................................................................................................................................
.....................................................................................................................................
Palm, Inc. PALM 696642206 10/28/03 Ratify appointment of I Y For F
Deloitte & Touche as
independent auditor
.....................................................................................................................................
.....................................................................................................................................
Palm, Inc. PALM 696642206 10/28/03 Approve the amendment I Y For F
and restatement of
Palm's 2001 Stock
Option Plan for
Non-Employee Directors
.....................................................................................................................................
Page 6 of 9
.....................................................................................................................................
Microsoft Corp. MSFT 594918104 11/11/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
Microsoft Corp. MSFT 594918104 11/11/03 Adoption of amendments I Y For F
to 2001 stock plan
.....................................................................................................................................
.....................................................................................................................................
Microsoft Corp. MSFT 594918104 11/11/03 Adoption of amendment I Y For
to the 1999 stock option
plan for non-employee
directors
.....................................................................................................................................
.....................................................................................................................................
Microsoft Corp. MSFT 594918104 11/11/03 Shareholder proposal S Y Against based on F
recommendation
of Directors
.....................................................................................................................................
.....................................................................................................................................
Extreme Networks, Inc. EXTR 30226D106 12/3/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
Extreme Networks, Inc. EXTR 30226D106 12/3/03 Amend employee stock I Y For F
purchase plan to increase
the maximum number of shares
of common stock by 3mm shares
.....................................................................................................................................
.....................................................................................................................................
Extreme Networks, Inc. EXTR 30226D106 12/3/03 Ratify the appointment I Y For F
of Ernst & Young as
independent auditors
.....................................................................................................................................
.....................................................................................................................................
Comverse Technology CMVT 205862402 12/16/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
Comverse Technology CMVT 205862402 12/16/03 Amend Company's 2002 I Y Against A
Employee Stock Purchase
Plan
.....................................................................................................................................
.....................................................................................................................................
Comverse Technology CMVT 205862402 12/16/03 Adoption and approval I Y For F
of 2004 Management
Incentive Plan
.....................................................................................................................................
.....................................................................................................................................
Comverse Technology CMVT 205862402 12/16/03 Ratify the appointment I Y For F
of Deloitte & Touche LLP
as independent auditors
.....................................................................................................................................
.....................................................................................................................................
Qwest Communications Q 749121109 12/16/03 Directors I Y Appoint All F
.....................................................................................................................................
.....................................................................................................................................
Qwest Communications Q 749121109 12/16/03 Approve amended and I Y For F
restated stock purchase
plan
.....................................................................................................................................
.....................................................................................................................................
Qwest Communications Q 749121109 12/16/03 Exclude pension credits S Y For F
from net income when
determining annual or
short-term incentive
compensation for
executive officers
.....................................................................................................................................
.....................................................................................................................................
Qwest Communications Q 749121109 12/16/03 Take necessary steps to S Y For F
declassify the Board of
Directors
.....................................................................................................................................
.....................................................................................................................................
Qwest Communications Q 749121109 12/16/03 Require shareholder S Y For F
approval for severance
agreement to executive
officers
.....................................................................................................................................
Page 7 of 9
.....................................................................................................................................
Qwest Communications Q 749121109 12/16/03 Requesting that S Y For A
substantial majority of
the board be independent
.....................................................................................................................................
.....................................................................................................................................
Qwest Communications Q 749121109 12/16/03 Requesting all future S Y For A
stock options grants to
senior executives be
performance based
.....................................................................................................................................
.....................................................................................................................................
Qwest Communications Q 749121109 12/16/03 Shareholder proposal S Y For A
requesting that some
portion of future stock
option grants to senior
executives be
performance based
.....................................................................................................................................
.....................................................................................................................................
Qwest Communications Q 749121109 12/16/03 Request the expensing S Y For A
in annual income
statements of the cost
of future stock
option grants
.....................................................................................................................................
.....................................................................................................................................
JDS Uniphase Corp. JDSU 46612J101 11/6/03 Directors I Y For F
.....................................................................................................................................
.....................................................................................................................................
JDS Uniphase Corp. JDSU 46612J101 11/6/03 Approve 2003 Equity I Y For F
Incentive Plan
.....................................................................................................................................
.....................................................................................................................................
JDS Uniphase Corp. JDSU 46612J101 11/6/03 Ratify the appointment I Y For F
of Ernst & Young as
independent auditors
.....................................................................................................................................
.....................................................................................................................................
Mercury Interactive MERQ 589405109 12/10/03 Ratify and approve the amendment to I Y For
Corp. amend and restate 1999 stock option
plan to increase the number of shares
reserved for issuance by an additional
3mm shares
.....................................................................................................................................
.....................................................................................................................................
Mercury Interactive MERQ 589405109 12/10/03 Ratify and approve the I Y For F
Corp. amendment to the 1998
employee stock purchase
plan to increase the
number of shares reserved
for issuance by an additional
5MM shares
.....................................................................................................................................
.....................................................................................................................................
Sycamore Networks, SCMR 871206108 12/18/03 Directors I Y Appoint All F
Inc.
.....................................................................................................................................
.....................................................................................................................................
Sycamore Networks, SCMR 871206108 12/18/03 Ratify the appointment I Y For F
Inc. of PricewaterhouseCoopers
as independent auditors
.....................................................................................................................................
.....................................................................................................................................
Bookham Technology BKHM 09856Q108 6/2/04 Receive the accounts, I Y For
with the directors'
report, directors'
remuneration report
and auditors' report
.....................................................................................................................................
.....................................................................................................................................
Bookham Technology BKHM 09856Q108 6/2/04 Approve directors I Y F
remuneration report, 2003
.....................................................................................................................................
Page 8 of 9
.....................................................................................................................................
Bookham Technology BKHM 09856Q108 6/2/04 Directors (Rickman, I Y F
Bordui, Fu)
.....................................................................................................................................
.....................................................................................................................................
Bookham Technology BKHM 09856Q108 6/2/04 Approve Ernst & Young I Y F
as auditors, and
determine remuneration
.....................................................................................................................................
.....................................................................................................................................
Bookham Technology BKHM 09856Q108 6/2/04 Authorization of I Y F
Directors pursuant to
section 80 of the 1985
Act to allot
relevant securities
.....................................................................................................................................
.....................................................................................................................................
Bookham Technology BKHM 09856Q108 6/2/04 Subject to passing I Y F
resolution above,
directors may allot
equity securities
.....................................................................................................................................
.....................................................................................................................................
Bookham Technology BKHM 09856Q108 6/2/04 Company is generally I Y F
and unconditionally
authorized to make
market purchases of any
ordinary shares
.....................................................................................................................................
.....................................................................................................................................
Yahoo YHOO 984332106 3/25/04 Approve amended & I Y Approve F
restated 1996 Employee
Stock Purchase Plan
.....................................................................................................................................
.....................................................................................................................................
Yahoo YHOO 984332106 3/25/04 Ratify independent I Y Appoint F
auditors
.....................................................................................................................................
.....................................................................................................................................
Yahoo YHOO 984332106 3/25/04 Expensing of options S Y For A
.....................................................................................................................................
Page 9 of 9
ITEM 1. PROXY VOTING RECORD (CONTINUED)
IPC FUNDS--GROWTH FLEX FUND SERIES
................................ ............. .................................................. ............... ............. .....
PROPOSED BY WHETHER WHETHER FUND
SHAREHOLDER ISSUER (I) OR FUND VOTED VOTED FOR (F)
TICKER MEETING SECURITY (Y=YES) HOW FUND OR AGAINST (A)
NAME OF ISSUER SYMBOL CUSIP DATE MATTER(S) HOLDER (S) (N=NO) VOTED MANAGEMENT
................................ ............. ................................................................ ............. .......
................................ ............. ................................................................ ............. .......
Key Corp. KEY 493267108 5/13/04 Directors I Y Appoint all F
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Key Corp. KEY 493267108 5/13/04 2004 equity compensation I Y Approve F
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Key Corp. KEY 493267108 5/13/04 Annual Performance Plan I Y Approve F
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Key Corp. KEY 493267108 5/13/04 Ratification of I Y Approve F
appointment of
independent auditor
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Wild Oats Markets, OAT 96808B107 5/6/04 Directors I Y Appoint all
Inc.
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Wild Oats Markets, OAT 96808B107 5/6/04 Ratification of I Y In favor of
Inc. appointment of
independent auditor
Ernst & Young, LLP
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Pitney Bowes PBI 724479100 5/10/04 Directors I Y Appoint all
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Pitney Bowes PBI 724479100 5/10/04 Ratification of I Y In favor of F
PricewaterhouseCoopers
as independent auditor
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Pitney Bowes PBI 724479100 5/10/04 Proposal relating to S Y Against on F
political contributions recommendation
of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
BB & T Corp. MSDXP 54937107 4/27/04 Directors I Y Appoint all F
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
BB & T Corp. MSDXP 54937107 4/27/04 Amendment to Articles I Y For the F
of Incorporation Amendment
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
BB & T Corp. MSDXP 54937107 4/27/04 Amendments to Bylaws I Y For the F
amendment
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
BB & T Corp. MSDXP 54937107 4/27/04 2004 Stock Incentive I Y For incentive F
Plan
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
BB & T Corp. MSDXP 54937107 4/27/04 Ratify appointment of I Y Approve F
PricewaterhouseCoopers
as independent auditor
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
BB & T Corp. MSDXP 54937107 4/27/04 Executive compensation S Y Against on F
matter recommendation
of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
PNC Financial PNC 693475105 4/27/04 Directors I Y Appoint all F
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
The Boeing Company BA 97023105 5/3/04 Directors I Y Appoint all F
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Schering-Plough SGP 80660511 4/27/04 Directors I Y Appoint all F
................................ ............. .................................................. ............... ............. .....
Page 1 of 10
................................ ............. .................................................. ............... ............. .....
The AES Corp. AES 00130H105 4/28/04 Directors I Y Appoint all F
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
The AES Corp. AES 00130H105 4/28/04 Ratify appointment of I Y Approve F
Deloitte & Touche LLP
independent auditor
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Chubb Corp. CB 171232101 4/27/04 Directors I Y Appoint all F
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Chubb Corp. CB 171232101 4/27/04 Adoption of Long-Term I Y Adopt F
Stock Incentive Plan 2004
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Chubb Corp. CB 171232101 4/27/04 Long term stock I Y Adopt F
incentive for non-employee
directors 2004
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Chubb Corp. CB 171232101 4/27/04 Ratify appointment of I Y Ratify F
Ernst & Young
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Chubb Corp. CB 171232101 4/27/04 Foreign business proposal S Y Against on F
recommendation
of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Juniper Networks, Inc. JNPR 48203R104 4/16/04 Issuance of 1,404 I Y For F
shares common stock for
each share of Netscreen
common and each stock
option to purchase
Netscreen
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
EMC Corp. EMC 268648102 5/5/04 Directors I Y Appoint all F
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
EMC Corp. EMC 268648102 5/5/04 Approve Stock Plan I Y For F
Increase by 50mm shares
and allow awards of
restricted stock and
grant non-employee
directors restricted
stock
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
EMC Corp. EMC 268648102 5/5/04 Increase employee stock I Y For F
purchase plan by 25mm
shares
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
EMC Corp. EMC 268648102 5/5/04 Ratify selection of I Y For F
PricewaterhouseCoopers
as independent auditors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
EMC Corp. EMC 268648102 5/5/04 Proposal relating to S Y Against on F
executive compensation recommendation
of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Johnson & Johnson JNJ 478160104 4/22/04 Directors I Y Appoint all F
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Johnson & Johnson JNJ 478160104 4/22/04 Ratify I Y For F
PricewaterhouseCoopers
as independent auditor
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Johnson & Johnson JNJ 478160104 4/22/04 Charitable S Y Against on
contributions recommendation
of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Pfizer, Inc. PFE 717081103 4/22/04 Directors I Y Appoint all F
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Pfizer, Inc. PFE 717081103 4/22/04 Ratify appointment of I Y For F
KPMG as independent
auditors 2004
................................ ............. .................................................. ............... ............. .....
Page 2 of 10
................................ ............. .................................................. ............... ............. .....
Pfizer, Inc. PFE 717081103 4/22/04 Approve Pfizer 2004 I Y For F
Stock Plan
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Pfizer, Inc. PFE 717081103 4/22/04 Proposal to review S Y Against on F
economic effect of recommendation
HIV/Aids, TB and malaria of Directors
pandemics on
business strategy
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Pfizer, Inc. PFE 717081103 4/22/04 Proposal relating to S Y Against on F
political contributions recommendation
of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Pfizer, Inc. PFE 717081103 4/22/04 Proposal relating to S Y Against on F
resources devoted to recommendation
supporting political of Directors
entities or candidates
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Pfizer, Inc. PFE 717081103 4/22/04 Proposal to impose term S Y Against on F
limits for directors recommendation
of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Pfizer, Inc. PFE 717081103 4/22/04 Proposal requesting S Y Against on F
report on increasing recommendation
access to Pfizer products of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Pfizer, Inc. PFE 717081103 4/22/04 Proposal on stock S Y Against on F
options recommendation
of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Pfizer, Inc. PFE 717081103 4/22/04 Proposal on in vitro S Y Against on F
testing recommendation
of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
IBM IBM 459200101 4/27/04 Directors I Y Appoint all F
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
IBM IBM 459200101 4/27/04 Ratify appointment of I Y Approve F
PricewaterhouseCoopers
as independent auditor
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
IBM IBM 459200101 4/27/04 Ratify appointment of I Y Approve F
independent accountants
Ernst & Young for
Business Consulting
Services Unit
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
IBM IBM 459200101 4/27/04 Long-Term Incentive I Y Approve F
Performance terms
for certain executives
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
IBM IBM 459200101 4/27/04 Proposal on cumulative S Y Approve A
retirement voting
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
IBM IBM 459200101 4/27/04 Proposal on pension and S Y Against on F
medical recommendation
of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
IBM IBM 459200101 4/27/04 Proposal on executive S Y Against on F
compensation recommendation
of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
IBM IBM 459200101 4/27/04 Proposal on expensing S Y For A
stock options
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
IBM IBM 459200101 4/27/04 Proposal on disclosure S Y Against on F
of executive compensation recommendation
of Directors
................................ ............. .................................................. ............... ............. .....
Page 3 of 10
................................ ............. .................................................. ............... ............. .....
IBM IBM 459200101 4/27/04 Proposal on China S Y Against on F
Business Principles recommendation
of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
IBM IBM 459200101 4/27/04 Proposal on political S Y Against on F
contributions recommendation
of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
IBM IBM 459200101 4/27/04 Proposal on review of S Y Against on F
executive compensation recommendation
of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Cendant CD 151313103 4/20/04 Directors I Y Appoint all F
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Cendant CD 151313103 4/20/04 Amend by laws to I Y For F
eliminate classification
of the Board of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Cendant CD 151313103 4/20/04 Ratify the appointment I Y For F
of Deloitte & Touche
as independent auditors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Cendant CD 151313103 4/20/04 Proposal on the S Y Against on F
separation of chief recommendation
executive and chairman of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Merck & Co MRK 589331107 4/27/04 Directors I Y Appoint all F
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Merck & Co MRK 589331107 4/27/04 Ratify appointment of I Y For F
auditor 2004
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Merck & Co MRK 589331107 4/27/04 Amend Certificate of I Y For F
Incorporation to
declassify Board of
Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Merck & Co MRK 589331107 4/27/04 Proposal on management S Y Against on F
compensation recommendation
of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Merck & Co MRK 589331107 4/27/04 Proposal on extension S Y Against on F
of prescription drug recommendation
patents of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Merck & Co MRK 589331107 4/27/04 Proposal on ethical S Y Against on F
and social performance recommendation
of the Company of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Merck & Co MRK 589331107 4/27/04 Proposal on use of S Y Against on F
shareholder resources recommendation
for political purposes of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Merck & Co MRK 589331107 4/27/04 Proposal concerning a S Y Against on F
report related to the recommendation
global HIV/Aids pandemic of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Kraft Foods KFT 50075N104 4/27/04 Directors I Y Appoint All F
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Kraft Foods KFT 50075N104 4/27/04 Ratify selection of I Y For F
auditor
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
General Electric GE 369604103 4/28/04 Directors I Y Appoint All F
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
General Electric GE 369604103 4/28/04 Ratify selection of I Y For F
auditor
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
General Electric GE 369604103 4/28/04 Revenue measurement I Y For F
added to executive
officer performance goals
................................ ............. .................................................. ............... ............. .....
Page 4 of 10
................................ ............. .................................................. ............... ............. .....
General Electric GE 369604103 4/28/04 Cumulative voting S Y For A
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
General Electric GE 369604103 4/28/04 Animal testing S Y Against F
................................ ............. .................................................... ........................ ........
................................ ............. .................................................... ........................ ........
General Electric GE 369604103 4/28/04 Nuclear risk S Y Against F
................................ ............. .................................................... ........................ ........
................................ ............. .................................................... ........................ ........
General Electric GE 369604103 4/28/04 Report on PCB cleanup S Y Against F
costs
................................ ............. .................................................... ........................ ........
................................ ............. .................................................... ........................ ........
General Electric GE 369604103 4/28/04 Offshore sourcing S Y Against F
................................ ............. .................................................... ........................ ........
................................ ............. .................................................... ........................ ........
General Electric GE 369604103 4/28/04 Sustainability index S Y Against F
................................ ............. .................................................... ........................ ........
................................ ............. .................................................... ........................ ........
U.S. Bancorp USB 902973304 4/20/04 Directors I Y Appoint All F
................................ ............. .................................................... ........................ ........
................................ ............. .................................................... ........................ ........
U.S. Bancorp USB 902973304 4/20/04 Ratify Ernst &Young as I Y For F
independent auditors
................................ ............. ................................................ ....................... .............
................................ ............. ................................................ ....................... .............
U.S. Bancorp USB 902973304 4/20/04 Compensation system S Y Against on F
for senior executives recommendation
of Directors
................................ ............. ................................................ ....................... .............
................................ ............. ................................................ ....................... .............
U.S. Bancorp USB 902973304 4/20/04 Supplemental executive S Y Against on F
retirement benefits recommendation
of Directors
................................ ............. ................................................ ....................... .............
................................ ............. ................................................ ............... ............. .......
U.S. Bancorp USB 902973304 4/20/04 Simple majority voting S Y For A
................................ ............. .................................................... ........................ ........
................................ ............. .................................................... ........................ ........
Goldman Sachs GS 38141G104 3/31/04 Directors I Y Appoint All F
................................ ............. .................................................... ........................ ........
................................ ............. .................................................... ........................ ........
Goldman Sachs GS 38141G104 3/31/04 Ratify appointment of I Y For F
PricewaterhouseCoopers
as independent auditors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ............... ............. .....
Goldman Sachs GS 38141G104 3/31/04 Annual election of all S Y Against on F
directors to recommendation
the Board of Directors of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Starbucks Corp. SBUX 855244109 3/30/04 Directors I Y Appoint All F
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Starbucks Corp. SBUX 855244109 3/30/04 Ratify selection of I Y For F
Deloitte & Touche as
independent auditors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Tyco International TYC 902124106 3/25/04 Directors I Y Appoint All F
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Tyco International TYC 902124106 3/25/04 Ratify appointment of I Y For F
Deloitte & Touche as
independent auditor
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Tyco International TYC 902124106 3/25/04 Adopt amended & I Y For f
restated Bylaws
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Tyco International TYC 902124106 3/25/04 Approval of 2004 Stock
& Incentive Plan
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Tyco International TYC 902124106 3/25/04 Environmental reporting S Y For F
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Tyco International TYC 902124106 3/25/04 Change of jurisdiction S Y Against on F
from Bermuda to U.S. recommendation
of Directors
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Tyco International TYC 902124106 3/25/04 Common sense executive S Y Against on F
compensation recommendation
of Directors
................................ ............. .................................................. ............... ............. .....
Page 5 of 10
................................ ............. .................................................. ............... ............. .....
Dell Computer Corp. DELL 247025109 7/18/03 Directors I Y Appoint All F
................................ ............. .................................................. ............... ............. .....
................................ ............. .................................................. ............... ............. .....
Dell Computer Corp. DELL 247025109 7/18/03 Elimination of I Y For F
classified Board
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Dell Computer Corp. DELL 247025109 7/18/03 Change of name to I Y For F
Dell Inc.
................................ ............. .................................................. ................. ................
................................ ............. .................................................. ................. ................
Dell Computer Corp. DELL 247025109 7/18/03 Approval of executive I Y For F
annual incentive bonus
plan
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
WebMD Corp. HLTH 94769m105 9/12/03 Directors I Y Appoint All F
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
WebMD Corp. HLTH 94769m105 9/12/03 Ratify amendment to I Y Against A
2000 long term
incentive plan to
increase the number of
shares issued under
9.5 million shares to
a total of 29.5
million shares
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
WebMD Corp. HLTH 94769m105 9/12/03 Amend Certificate of I Y Against A
Incorporation to
increase authorized
shares of common
stock by 300mm shares
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
IVILLAGE, Inc. IVIL 46588H105 10/9/03 Directors I Y Appoint All F
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
IVILLAGE, Inc. IVIL 46588H105 10/9/03 Ratify appointment of I Y For
PricewaterhouseCoopers
as independent auditors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Qwest Communications Q 749121109 12/16/03 Directors I Y Appoint All F
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Qwest Communications Q 749121109 12/16/03 Approve amended and I Y For F
restated stock
purchase plan
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Qwest Communications Q 749121109 12/16/03 Exclude pension credits S Y For F
from net income when
determining annual or
short-term incentive
compensation for
executive officers
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Qwest Communications Q 749121109 12/16/03 Take necessary steps to S Y For F
declassify the Board
of Directors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Qwest Communications Q 749121109 12/16/03 Require shareholder S Y For F
approval for severance
agreement to executive
officers
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Qwest Communications Q 749121109 12/16/03 Requesting that S Y For A
substantial majority
of the board be independent
................................ ............. .................................................. ....................... ...........
Page 6 of 10
................................ ............. .................................................. ....................... ...........
Qwest Communications Q 749121109 12/16/03 Requesting all future S Y For A
stock option grants to
senior executives be
performance based
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Qwest Communications Q 749121109 12/16/03 Shareholder proposal S Y For A
requesting that some
portion of future stock
option grants to senior
executives be
performance based
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Qwest Communications Q 749121109 12/16/03 Requests expensing in S Y For A
annual income statements
of the cost of future
stock option grants
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
JDS Uniphase Corp. JDS 46612J101 11/6/03 Directors I Y For F
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
JDS Uniphase Corp. JDS 46612J101 11/6/03 Approve 2003 Equity I Y For F
Incentive Plan
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
JDS Uniphase Corp. JDS 46612J101 11/6/03 Ratify the appointment I Y For F
of Ernst & Young as
independent auditors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Monsanto Co. MON 61166W101 1/29/04 Directors I Y Appoint All F
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Monsanto Co. MON 61166W101 1/29/04 Ratify appointment of I Y For F
independent accountants
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Monsanto Co. MON 61166W101 1/29/04 Amendments to long-term I Y Against A
incentive plan
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Monsanto Co. MON 61166W101 1/29/04 Proposal #1 S Y For A
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Monsanto Co. MON 61166W101 1/29/04 Proposal #2 S Y For A
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
BJ Services Company BJS 55482103 1/22/04 Directors I Y Appoint All F
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
BJ Services Company BJS 55482103 1/22/04 2003 Incentive Plan I Y For F
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
BJ Services Company BJS 55482103 1/22/04 Proposal on Company S Y Against on F
operations in Burma recommendation
of Directors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Hewlett-Packard Co. HPQ 428236103 3/17/04 Directors I Y Appoint All F
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Hewlett-Packard Co. HPQ 428236103 3/17/04 Ratify the appointment I Y For F
of Ernst & Young as
independent auditors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Hewlett-Packard Co. HPQ 428236103 3/17/04 Approve Company stock I Y For F
incentive plan
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Hewlett-Packard Co. HPQ 428236103 3/17/04 Stock option expensing S Y For A
proposal
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Broadcom BRCM 111320107 4/29/04 Directors I Y Appoint All F
................................ ............. .................................................. ....................... ...........
Page 7 of 10
................................ ............. .................................................. ....................... ...........
Hewlett-Packard Co. HPQ 428236103 3/17/04 Approve amendments and I Y For F
restatement of 1998
stock incentive plan
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Exxon Mobil Corp. XOM 30231G102 5/26/04 Directors I Y For F
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Exxon Mobil Corp. XOM 30231G102 5/26/04 Ratify independent I Y For F
auditor
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Exxon Mobil Corp. XOM 30231G102 5/26/04 Approve 2004 non-employee I Y For F
director restricted
stock plan
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Exxon Mobil Corp. XOM 30231G102 5/26/04 Political contributions I Y Against on F
recommendation
of Directors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Exxon Mobil Corp. XOM 30231G102 5/26/04 Political contributions S Y Against on F
recommendation
of Directors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Exxon Mobil Corp. XOM 30231G102 5/26/04 Media response on S Y Against on F
Equatorial Guinea recommendation
of Directors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Exxon Mobil Corp. XOM 30231G102 5/26/04 Board Chairman & CEO S Y Against on F
recommendation
of Directors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Exxon Mobil Corp. XOM 30231G102 5/26/04 Executive compensation S Y Against on F
recommendation
of Directors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Exxon Mobil Corp. XOM 30231G102 5/26/04 Equity compensation S Y Against on F
report recommendation
of Directors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Exxon Mobil Corp. XOM 30231G102 5/26/04 Amendment of EEO policy S Y Against on F
recommendation
of Directors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Exxon Mobil Corp. XOM 30231G102 5/26/04 Climate science report S Y Against on F
recommendation
of Directors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Amgen AMGN 31162100 5/13/04 Directors I Y Appoint All F
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Amgen AMGN 31162100 5/13/04 Ratify appointment of I Y For F
Ernst and Young
independent auditors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Amgen AMGN 31162100 5/13/04 Proposal #1 S Y Against on F
recommendation
of Directors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Amgen AMGN 31162100 5/13/04 Proposal #2 S Y For A
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Qwest Communications Q 749121109 5/25/04 Directors I Y For F
................................ ............. .................................................. ....................... ...........
Page 8 OF 10
................................ ............. .................................................. ....................... ...........
Qwest Communications Q 749121109 5/25/04 Amend and restate I Y For F
Certificate of
Incorporation to
declassify the board
of directors and allow
removal of directors
without cause
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Qwest Communications Q 749121109 5/25/04 Amend bylaws to require S Y Against on F
that independent director recommendation
who has not served as CEO of Directors
serve as Chairman
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Qwest Communications Q 749121109 5/25/04 Proposal requesting S Y Against on F
stockholder approval for recommendation
certain benefits for of Directors
senior executives under
our non-qualified pension
or supplemental executive
retirement plans
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Qwest Communications Q 749121109 5/25/04 Amend our governance S Y Against on F
guidelines to provide recommendation
that we nominate directors of Directors
such that two thirds majority
of directors would be
independent under the
standard adopted by the Council
of Institutional Investors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
InterActiveCorp IACI 45840Q101 6/23/04 Appoint directors I Y Appoint All F
(Barton, Bennett,
Bronfman, Diller, Kaufman,
Keough, Josee, Maline,
Rattner, Schwarzkoff,
Spoon, Von Furstenberg)
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
InterActiveCorp IACI 45840Q101 6/23/04 Appoint Ernst & Young, I Y For F
LLP as independent
auditors 2004
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
E Trade Financial ET 269246104 5/27/04 Ratify Deloitte & I Y Appoint F
Corp. Touche, LLP as
independent auditors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Cablevision Systems, CVC 12686C109 5/25/04 Directors (Ferris, I Y Appoint All F
Corp. Hochman, Oristano, Tese,
Reifenheise, Ryan)
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Teva Pharmaceutical TEVA 881624209 5/20/04 Receive and discuss I Y Approve F
Industries consolidated balance
sheet, as of 12/31/2003
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Teva Pharmaceutical TEVA 881624209 5/20/04 Declare final the I Y Approve F
Industries 1/31/2003 dividend paid
in four installments and
aggregated NIS 1.44
(US.322 per ordinary share)
................................ ............. .................................................. ....................... ...........
Page 9 OF 10
................................ ............. .................................................. ....................... ...........
Teva Pharmaceutical TEVA 881624209 5/20/04 Elect Cohen, Dan, Heth, I Y Appoint all F
Industries Many, and Shafir to serve
3 year term
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Teva Pharmaceutical TEVA 881624209 5/20/04 approve purchase D & O I y Approve F
Industries liability insurance
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Teva Pharmaceutical TEVA 881624209 5/20/04 Appoint Kesselman & I Y Appoint and F
Industries Kesselman, a division of Approve
PricewaterhouseCoopers,
as independent auditors
and authorize audit
committee to determine their
compensation
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Juniper Networks, Inc. JNPR 48203R104 5/19/04 Directors (Sindhu, I y Appoint all F
Calderoni, Levy)
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Juniper Networks, Inc. JNPR 48203R104 5/19/04 Appoint Ernst & Young, I Y Appoint F
LLP as independent
auditors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
May Department Stores MAY 577778103 5/21/04 Appoint independent I Y Ratify F
auditors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
May Department Stores MAY 577778103 5/21/04 Amend Executive I Y Approve F
Incentive Plan
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
May Department Stores MAY 577778103 5/21/04 Amend 1994 Stock I Y Approve F
Incentive Plan
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
May Department Stores MAY 577778103 5/21/04 Proposal concerning a S Y Against on F
classified Board recommendation
of Directors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Ingersoll-Rand Co. LTD IR G4776G101 6/2/04 Adopt amended and I Y For F
restated Stock Plan
of 1998
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Ingersoll-Rand Co. LTD IR G4776G101 6/2/04 Approve amended & I Y For F
restated by-laws
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Ingersoll-Rand Co. LTD IR G4776G101 6/2/04 Appoint and fix I Y For F
remuneration of
independent auditors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Ingersoll-Rand Co. LTD IR G4776G101 6/2/04 Declassify Board of S Y Against on F
Directors recommendation
of Directors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Ingersoll-Rand Co. LTD IR G4776G101 6/2/04 Change jurisdiction of S Y Against on F
incorporation recommendation
of Directors
................................ ............. .................................................. ....................... ...........
................................ ............. .................................................. ....................... ...........
Ingersoll-Rand Co. LTD IR G4776G101 6/2/04 Separation of CEO and S Y Against on F
Board Chairman recommendation
of Directors
................................ ............. .................................................. ....................... ...........
Page 10 of 10
ITEM 1. PROXY VOTING RECORD (CONTINUED)
IPC FUNDS--MARKET OPPORTUNITIES FUND SERIES
........................ ........ ........................ .......................... ............... .......................... ....
PROPOSED BY WHETHER WHETHER FUND
SHAREHOLDER ISSUER (I) OR FUND VOTED VOTED FOR (F)
TICKER MEETING SECURITY (Y=YES) HOW FUND OR AGAINST (A)
NAME OF ISSUER SYMBOL CUSIP DATE MATTER(S) HOLDER (S) (N=NO) VOTED MANAGEMENT
........................ ........ ........................ .......................... ............... .......................... ....
........................ ........ ........................ .......................... ............... .......................... ....
E.I. Dupont de DD 263534109 4/28/04 Directors I Y Appoint all F
Nemours & Co.
........................ ........ ........................ .......................... ............... .......................... ....
........................ ........ ........................ .......................... ............... .......................... ....
E.I. Dupont de DD 263534109 4/28/04 Ratification of I Y Approve F
Nemours & Co. accountants
........................ ........ ........................ .......................... ............... .......................... ....
........................ ........ ........................ .......................... ............... .......................... ....
E.I. Dupont de DD 263534109 4/28/04 Government service S Y Against on F
Nemours & Co. recommendation
of Directors
........................ ........ ........................ .......................... ............... .......................... ....
........................ ........ ........................ .......................... ............... .......................... ....
E.I. Dupont de DD 263534109 4/28/04 International S Y Against on F
Nemours & Co. workplace standards recommendation
of Directors
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
E.I. Dupont de DD 263534109 4/28/04 Executive compensation S Y Against on F
Nemours & Co. matter recommendation
of Directors
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Juniper Networks, Inc. JNPR 48203R104 4/16/04 Issuance of 1,404 I Y For F
shares common stock
for each share of
NetScreen common
and each stock option
to purchase NetScreen
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
EMC Corp. EMC 268648102 5/5/04 Directors I Y Appoint all F
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
EMC Corp. EMC 268648102 5/5/04 Approve Stock Plan I Y For F
Increase by 50mm shares
and allow awards of
restricted stock and
grant non-employee
directors restricted
stock
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
EMC Corp. EMC 268648102 5/5/04 Increase employee I Y For F
stock purchase plan
by 25mm shares
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
EMC Corp. EMC 268648102 5/5/04 Ratify selection of I Y For F
PricewaterhouseCoopers
as independent auditors
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
EMC Corp. EMC 268648102 5/5/04 Proposal relating to S Y Against on F
executive compensation recommendation
of Directors
........................ ........ ........................ ....................................... ............... ............ .....
Page 1 of 7
........................ ........ ........................ ....................................... ............... ............ .....
NetScreen NSCN 64117V107 4/16/04 Adopt agreement and I Y For F
plan of reorganization
among Juniper Networks,
Inc., Nerus Acquisition
Corp. and NetScreen
Technologies, Inc.
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
NetScreen NSCN 64117V107 4/16/04 Grant discretionary I Y For F
authority to adjourn
or postpone the NetScreen
special meeting to a date not later
than Nov. 9, 2004 to solicit
additional proxies
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Bookham Technology PLC BKHM 09856Q108 3/5/04 Acquisition by merger I Y For F
of New Focus, Inc.
upon the terms and
conditions of the
agreement dated 9/21/2003
be approved
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Bookham Technology PLC BKHM 09856Q108 3/5/04 Passing #1 that the I Y For F
authorized shares of
capital of the Company be
increased 1mm to 1.5mm
by creation of 150mm
additional shares at 1/3P each
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Bookham Technology PLC BKHM 09856Q108 3/5/04 Passing #2 that the I Y For F
directors be authorized
to exercise all powers of
the Company to allot relevant
securities
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Bookham Technology PLC BKHM 09856Q108 3/5/04 Passing #4 that I Y For F
directors be and are
empowered to allot
equity securities
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
ADC Telecommunication ADCT 000886101 3/2/04 Directors I Y Appoint All F
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
ADC Telecommunication ADCT 000886101 3/2/04 Amend Global Stock I Y For F
Incentive Plan
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
ADC Telecommunication ADCT 000886101 3/2/04 Amend Articles of I Y For F
Incorporation to increase
authorized shares from 1.2
billion to 2.4 billion
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
ADC Telecommunication ADCT 000886101 3/2/04 Ratify appointment of I Y For F
Ernst & Young as
independent auditors
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Ciena Corp. CIEN 171779101 3/10/04 Directors I Y Appoint All F
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
WebMD Corp. HLTH 94769m105 9/12/03 Directors I Y Appoint All F
........................ ........ ........................ ....................................... ............... ............ .....
Page 2 of 7
........................ ........ ........................ ....................................... ............... ............ .....
WebMD Corp. HLTH 94769m105 9/12/03 Ratify amendment to I Y Against A
2000 long term incentive
plan to increase the
number of shares issued from
9.5 million shares to a total
of 29.5 million shares
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
WebMD Corp. HLTH 94769m105 9/12/03 Amend Certificate of I Y Against A
Incorporation to increase
authorized shares of common
stock by 300mm shares
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
IVILLAGE, Inc. IVIL 46588H105 10/9/03 Directors I Y Appoint All F
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
IVILLAGE, Inc. IVIL 46588H105 10/9/03 Ratify appointment of I Y For
PricewaterhouseCoopers
as independent auditors
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Nevada Gold & UWN 64126Q206 9/22/03 Directors I Y Appoint All F
Casinos, Inc.
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Nevada Gold & UWN 64126Q206 9/22/03 Ratify appointment of I Y For F
Casinos, Inc. Pannell Kerr and Foster
of Texas as independent
accountants
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
King Pharmaceuticals, KG 495582PPH 11/4/03 Directors I Y Appoint All F
Inc.
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
King Pharmaceuticals, KG 495582PPH 11/4/03 Ratify appointment of I Y For F
Inc. PricewaterhouseCoopers
as independent auditors
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Audiocodes LTD AUDC M15342104 10/29/03 Elect Shabtai Alderberg I Y For F
as Class III Director
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Audiocodes LTD AUDC M15342104 10/29/03 Authorize Chairman of I Y For F
the Board to continue
as President & CEO
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Audiocodes LTD AUDC M15342104 10/29/03 Ratify option grant to I Y For F
Chairman of the Board
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Audiocodes LTD AUDC M15342104 10/29/03 Appoint Joseph Tenn I Y For F
Class II Director
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Audiocodes LTD AUDC M15342104 10/29/03 Ratify option grant to I Y For F
Joseph Tenne,
non-employee director
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Audiocodes LTD AUDC M15342104 10/29/03 Elect Doron Nevo, I Y For F
Independent Director
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Audiocodes LTD AUDC M15342104 10/29/03 Ratify appointment of I Y For F
independent auditor
and authorization of
compensation to auditors
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Audiocodes LTD AUDC M15342104 10/29/03 Ratify options grant I Y For F
to certain
non-employee directors
........................ ........ ........................ ....................................... ............... ............ .....
Page 3 of 7
........................ ........ ........................ ....................................... ............... ............ .....
Audiocodes LTD AUDC M15342104 10/29/03 Ratify purchase of I Y For F
directors and officers'
liability insurance
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Audiocodes LTD AUDC M15342104 10/29/03 Indicate if you have I Y Abstain F
a personal interest in
liability insurance issue
#9
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Qwest Communications Q 749121109 12/16/03 Directors I Y Appoint All F
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Qwest Communications Q 749121109 12/16/03 Approve amended and I Y For F
restated stock purchase
plan
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Qwest Communications Q 749121109 12/16/03 Exclude pension S Y For F
credits from net income
when determining annual
or short-term incentive
compensation for
executive officers
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Qwest Communications Q 749121109 12/16/03 Take necessary steps S Y For F
to declassify the
Board of Directors
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Qwest Communications Q 749121109 12/16/03 Require shareholder S Y For F
approval for severance
agreement to executive
officers
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Qwest Communications Q 749121109 12/16/03 Requesting that S Y For A
substantial majority
of the board be
independent
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Qwest Communications Q 749121109 12/16/03 Requesting all future S Y For A
stock option grants to
senior executives be
performance based
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Qwest Communications Q 749121109 12/16/03 Shareholder proposal S Y For A
requesting that some
portion of future
stock option grants
to senior executives be
performance based
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Qwest Communications Q 749121109 12/16/03 Request expensing in S Y For A
annual income
statements of the cost
of future stock option
grants
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
JDS Uniphase Corp. JDSU 46612J101 11/6/03 Directors I Y For F
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
JDS Uniphase Corp. JDSU 46612J101 11/6/03 Approve 2003 Equity I Y For F
Incentive Plan
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
JDS Uniphase Corp. JDSU 46612J101 11/6/03 Ratify the appointment I Y For F
of Ernst & Young as
independent auditors
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Zila, Inc. ZILA 989513205 12/4/03 Directors I Y Appoint All F
........................ ........ ........................ ....................................... ............... ............ .....
Page 4 of 7
........................ ........ ........................ ....................................... ............... ............ .....
Conexant Systems, Inc. CNXT 207142100 2/25/04 Directors I Y Appoint All F
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Conexant Systems, Inc. CNXT 207142100 2/25/04 Approve issuance of I Y For F
Conexant common stock
in the merger pursuant
to the agreement
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Conexant Systems, Inc. CNXT 207142100 2/25/04 Approve the assumption I Y For F
and adoption of
Globespanvirata's 1999
equity incentive plan,
supplemental stock
option plan and amended
and restated 1999 stock
incentive plan
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Conexant Systems, Inc. CNXT 207142100 2/25/04 Ratify the appointment I Y For F
of independent auditors
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Bookham Technology BKHM 09856Q108 6/2/04 Receive the accounts, I Y In agreement F
with the directors'
report, directors'
remuneration report &
auditors' report
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Bookham Technology BKHM 09856Q108 6/2/04 Approve directors I Y In agreement F
remuneration report,
2003
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Bookham Technology BKHM 09856Q108 6/2/04 Directors (Rickman,
Bordui, Fu) I Y Appoint all F
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Bookham Technology BKHM 09856Q108 6/2/04 Approve Ernst & Young I Y Appoint F
as auditors, and
determine remuneration
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Bookham Technology BKHM 09856Q108 6/2/04 Authorization of I Y Yes F
Directors pursuant to
section 80 of the 1985
Act to allot relevant
securities
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Bookham Technology BKHM 09856Q108 6/2/04 Subject to passing I Y Yes F
resolution above,
directors may allot
equity securities
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Bookham Technology BKHM 09856Q108 6/2/04 Company is generally I Y Yes F
and unconditionally
authorized to make
market purchases of
any ordinary shares
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Net Perceptions, Inc. NETP.PK 64107U101 6/23/04 Directors (Jones, I Y Appoint All F
Kanders, Sokolow)
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Nanogen, Inc. NGEN 630075109 4/15/04 Director Bucnauto I Y Appoint F
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Nanogen, Inc. NGEN 630075109 4/15/04 Amend 1997 Stock I Y Approve F
Option Plan Increase
number of shares
authorized by 1,100,000
........................ ........ ........................ ....................................... ............... ............ .....
Page 5 of 7
........................ ........ ........................ ....................................... ............... ............ .....
Nanogen, Inc. NGEN 630075109 4/15/04 Increase number of I Y Approve F
shares authorized for
employee stock purchase
plan by 150,000
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Nanogen, Inc. NGEN 630075109 4/15/04 Ratify appointment of I Y Appoint F
Ernst & Young as
independent auditors
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
ITXC Corp. ITXC 45069F109 3/31/04 Adoption of merger I Y For merger F
agreement dated
11/4/2003 by and among
the Company, Teleglobe
Bermuda Holdings, LTD,
and, upon incorporation
in Bermuda, New Teleglobe
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Electronics for EFII 286082102 4/12/04 Approve Company 2004 I Y For F
Imaging, Inc. Equity Incentive Plan
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
E Trade Financial ET 269246104 5/27/04 Appoint Deloitte & I Y Appoint F
Corp. Touche, LLP as
independent auditors
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Manhattan Associates, MANH 562750109 5/21/04 Directors (Huntz, I Y Appoint all F
Inc. Noonan)
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Manhattan Associates, MANH 562750109 5/21/04 Ernst & Young as I Y Appoint F
Inc. independent auditors
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
ValueClick, Inc. VCLK 92046N102 6/3/04 Directors (Zarley, I Y Appoint All F
Buzby, Hart,
Vadnais, Rayport)
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Cablevision Systems, CVC 12686C109 5/25/04 Directors (Ferris, I Y Appoint All F
Corp. Hochman, Oristano,
Tese, Reifenheiser, Ryan)
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
XM Satellite Radio XMSR 983759101 5/27/04 Directors (Parson, I Y Appoint all F
Holdings, Inc. Panero, Davis,
Donohue, Elliott,
Haywood, Huber,
Nohn, Roberts, Shaw)
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Teva Pharmaceutical TEVA 881624209 5/20/04 Receive and discuss I Y Approve F
Industries consolidated balance
sheet, as of 12/31/2003
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Teva Pharmaceutical TEVA 881624209 5/20/04 Declare final the I Y Approve F
Industries 1/31/2003 dividend
paid in four
installments and
aggregated NIS 1.44
(US.322 per
ordinary Share)
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Teva Pharmaceutical TEVA 881624209 5/20/04 Elect Cohen, Dan, I Y Appoint all F
Industries Heth, Many, and
Shafir to serve
3-year term
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Teva Pharmaceutical TEVA 881624209 5/20/04 Approve purchase D&O I y Approve F
Industries liability insurance
........................ ........ ........................ ....................................... ............... ............ .....
Page 6 of 7
........................ ........ ........................ ....................................... ............... ............ .....
Teva Pharmaceutical TEVA 881624209 5/20/04 Appoint Kesselman & I Y Appoint and F
Industries Kesselman, a division Approve
of PricewaterhouseCoopers,
as independent auditors
and authorize audit
committee to determine
their compensation
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Juniper Networks, Inc. JNPR 48203R104 5/19/04 Directors (Sindhu, I y Appoint all F
Calderoni, Levy)
........................ ........ ........................ ....................................... ............... ............ .....
........................ ........ ........................ ....................................... ............... ............ .....
Juniper Networks, Inc. JNPR 48203R104 5/19/04 Appoint Ernst & Young, I Y Appoint F
LLP as independent
auditors
........................ ........ ........................ ....................................... ............... ............ .....
Page 7 of 7
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.
(Registrant) IPC FUNDS
By (Signature and Title)* /S/ ROBERT C. THURMOND
---------------------------------------------
Robert C. Thurmond, Trustee and
Chairman of the Audit Committee
Date 8/9/2005
---------------------------------------------------------------
* Print the name and title of each signing officer under his or her signature.