UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT
INVESTMENT COMPANY
Investment Company Act file number 811-08718
IPS Funds
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Exact name of registrant as specified in charter)
9111 CrossPark Dr. E-120 Knoxville, TN 37923
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(Address of principal executive offices) (Zip code)
Citco Mutual Fund Services, Inc.
83 General Warren Boulevard, Suite 200
Malvern, PA 19355
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(Name and address of agent for service)
Registrant's telephone number, including area code: 800-232-9142
Date of fiscal year end: 11/30/2003
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Date of reporting period: 06/30/2004
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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.
SEC 2451 (4-03) Persons who are to respond to the collection of information
contained in this form are not required to respond unless the
form displays a currently valid OMB control number.
ITEM 1. PROXY VOTING RECORD:
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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APPLE COMPUTER, INC. DIRECTORS:
TICKER: AAPL 1 William V. Campbell X X X
CUSIP: 037833100 Millard S. Drexler X X X
DATE: 4/20/04 Albert A. Gore, Jr. X X X
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Steven P. Jobs X X X
Arthur D. Levinson] X X X
Jerome B. York X X X
AUDITORS:
2 Ratify the appointment of KPMG LLP as X X X
independent
auditors for fiscal year 2004
OTHER MATTERS:
3 To consider a shareholder proposal if X X X
properly
presented at the meeting
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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AUTODESK DIRECTORS:
TICKER: ADSK 1 Carol A. Bartz X X X
CUSIP: 52769106 Mark A. Bertelsen X X X
DATE: 6/15/04 Crawford W. Beveridge X X X
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J. Hallam Dawson X X X
Michael J. Fister X X X
Per-Kristian Halvorsen X X X
Steven L. Scheid X X X
Mary Alice Taylor X X X
Larry W. Wangberg X X X
AUDITORS:
2 Ratification of appointment of Earnst & X X X
Young LLP as
the independent auditors
OTHER MATTERS:
3 To consider a shareholder proposal to X X X
require all
senior executives to retain a
significant percentage of
shares acquired through equity
compensation
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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AFLAC, DIRECTORS:
INC.
TICKER: AFL 1 Daniel P. Amos X X X
CUSIP: 001055102 John Shelby Amos II X X X
DATE: 4/20/04 Michael H. Armacost X X X
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Kriss Cloninger III X X X
Joe Frank Harris X X X
Elizabeth J. Hudson X X X
Kenneth S. Janke Sr. X X X
Douglas W. Johnson X X X
Robert B. Johnson X X X
Charles B. Knapp X X X
Hidefumi Matsui X X X
Nobuhiro Mori X X X
E. Stephen Purdom, MD X X X
Barbara K. Rimer, Ph.D X X X
Marvin R. Schuster X X X
Glenn Vaughn Jr. X X X
Robert L. Wright X X X
AUDITORS:
2 Ratification of appointment of KPMG LLP X X X
as the
independent auditors
OTHER MATTERS:
3 To consider and approve the 2004 AFLAC, X X X
Inc Long-
Term Incentive Plan
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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BANDAG, INC. DIRECTORS:
TICKER: BDG 1 Roy J. Carver, Jr. X X X
CUSIP: 59815100 James E. Everline X X X
DATE: 5/5/04 Phillip J. Hanrahan X X X
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Amy P. Hutton X X X
2 Approval of Bandag 2004 Stock Grant and X X X
awards plan
AUDITORS:
3 Ernst & Young LLP X X X
OTHER MATTERS:
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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BALL CORPORATION DIRECTORS:
TICKER: BLL 1 Hanno C. Fiedler X X X
CUSIP: 58498106 John F. Lehman X X X
DATE: 4/20/04 George A. Sissel X X X
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Erik H. Van Der Kaay X X X
AUDITORS:
2 Proposal to ratify the appointment of X X X
PricewaterHouse
Coopers LLP as the independent auditor
for the corp.
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2003 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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CBRL GROUP DIRECTORS:
TICKER: CBRL 1 James D. Carreker X X X
CUSIP: 12489V106 Robert V. Dale X X X
DATE: 11/25/03 Dan W. Evins X X X
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Robert C. Hilton X X X
Charles E. Jones X X X
B.F. Lowery X X X
Gordon L. Miller X X X
Martha M. Mitchell X X X
Andrea M. Weiss X X X
Jimmie D. White X X X
Michael A. Woodhouse X X X
AUDITORS:
2 Deloitte & Touche
OTHER MATTERS:
3 To approve the selection of deloitte & X X X
touche LLP
as the company's independent auditors
for fiscal
year 2004
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COMPANY ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
INFORMATION: MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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CENDANT DIRECTORS:
CORP.
TICKER: CD 1 Rt. Hon. Brian Mulroney X X
CUSIP: 151313103 Ronald L. Nelson X X
DATE: 4/19/04 Robert W. Pittman X X
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Myra J. Biblowit X X
Sheli Z. Rosenberg X X
BOARD CLASSIFICATION
2 The company proposed that the X X X
by-laws & articles of
incorporation be amended to
eliminate classification
of the Board of Directors
AUDITORS:
3 Deloitte & Touche LLP X X X
OTHER MATTERS:
4 Shareholder proposal requesting X X X
the company
separate the offices of CEO &
Chairman
5 Shareholder proposal limiting CEO X X X
compensation to
no more than 100 times that of
non-management
employees average salary
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDERPRO CON ABST. FOR W/HOLD PRO CON
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CHINA FUND DIRECTORS:
TICKER: CHN 1 Joe O. Rogers X X X
CUSIP: 169373107 Michael F. Holland X X X
DATE: 2/26/04
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AUDITORS:
2 n/a
OTHER MATTERS:
3 A vote for election of all nominees X X X
4 To approve or reject a revised X X X
investment advisory and
management agreement between the fund
and Martin
Currie Inc.
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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CRAWFORD & COMPANY DIRECTORS:
TICKER: CRDXB 1 J.H. Lanier X X X
CUSIP: 224633107 J.C. Crawford X X X
DATE: 4/20/04 L.L. Prince X X X
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J.A. Williams X X X
E.J. Wood X X X
G.L. Davis X X X
C.H. Ridley X X X
R.J. Johnson X X X
AUDITORS:
2 Proposal to approve Ernst & Young LLP X X X
as the
independent auditors for the 2004
fiscal year
OTHER MATTERS:
3 Maximize Value Resolution X X X
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDERPRO CON ABST. FOR W/HOLD PRO CON
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COINSTAR, INC DIRECTORS:
TICKER: CSTR 1 Keith D. Grinstein X X X
CUSIP: 19259P300 Ronald B. Woodward X X X
DATE: 6/7/04
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AUDITORS:
2 Advise on the appointment of KPMG LLP X X X
as
independent auditors
OTHER MATTERS:
3 Approve amendments to the 1997 amended X X X
and
restated Equity Incentive Plan
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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CENTURYTEL DIRECTORS:
TICKER: CTL 1 William R. Boles, Jr. X X X
CUSIP: 156700106 W. Bruce Hanks X X X
DATE: 5/5/04 C.G. Melville, Jr. X X X
- ----------------------
Glen F. Post, III X X X
AUDITORS:
2 KPMG LLP X X X
OTHER MATTERS:
4
5
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2003 MGMT SHAREHOLDERPRO CON ABST. FOR W/HOLD PRO CON
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DELL, INC. DIRECTORS:
TICKER: DELL 1 Michael A. Miles X X X X
CUSIP: 247025109 Alex J. Mandl X X X X
DATE: 7/18/03 Morton L. Topfer X X X X
- ----------------------
AUDITORS:
2 n/a
OTHER MATTERS:
3 Elimination of classified board X X X
4 Change of company name to "Dell Inc." X X X
5 Approval of executive annual incentive X X X
bonus plan
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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DEVON ENERGY DIRECTORS:
CORPORATION
TICKER: DVN 1 Thomas F. Ferguson X X X
CUSIP: 25179M103 Peter J. Fluor X X X
DATE: 6/7/04 David M. Gavrin X X X
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Michael E. Gellert X X X
AUDITORS:
2 Appointment of KPMG LLP as independent X X X
auditor
for year ending Dec. 31, 2004
OTHER MATTERS:
3 Revise director election threshold X X X
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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EASTMAN KODAK DIRECTORS:
TICKER: EK 1 William H. Hernandez X X X
CUSIP: 277461109 Hector de J. Ruiz X X X
DATE: 5/5/04 Laura D'Andrea Tyson X X X
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AUDITORS:
2 Independent Accountants not specified X X X
3 Performance Goals X X X
OTHER MATTERS:
4 Adoption of chemicals policy X X X
5 Compensation limits for senior X X X
executives
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2003 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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ELECTRONIC DIRECTORS:
ARTS
TICKER: ERTS 1 M. Richard Asher X X X X
CUSIP: 2855121 William J. Byron X X X X
DATE: 7/31/03 Leonard S. Coleman X X X X
- ----------------------
Gary M. Kusin X X X X
Gregory B. Maffei X X X X
Timothy Mott X X X X
Lawrence F. Probst III X X X X
Linda J. Srere X X X X
AUDITORS:
2 n/a
OTHER MATTERS:
3 Amendment to the 2000 equity incentive X X
plan
4 Amendment to the 2000 employee stock X X
purchase plan
5 Ratification of appointment of X X
independent auditors
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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FRESH DEL MONTE DIRECTORS:
PRODUCE, INC.
TICKER: FDP 1 Amir Abu-Ghazaleh X X X
CUSIP: G36738105 Edward L. Boykin X X X
DATE: 4/20/04 Salvadore H. Alfiero X X X
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AUDITORS:
2 Approval of Ernst & Young as X X X
independent auditors
OTHER MATTERS:
3 Approval of the company's financial X X X
statements for the
2003 fiscal year ended December 26, 2003
4 Approval of the company's final X X X
dividend payment for
the fiscal year ended Dec. 26, 2003 of
US$0.20 per
share to registered members of the
company on May
12, 2004 to be paid on June 4, 2004
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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FISHER SCIENTIFIC DIRECTORS:
INTERNATIONAL
TICKER: FSH 1 Michael D. Dingman X X X
CUSIP: 338032204 Charles A. Sanders, MD X X X
DATE: 6/24/04
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AUDITORS:
2 Appointment of Deloitte & Touche LLP as X X X
independent
auditors for fiscal year ending Dec.
31, 2004
OTHER MATTERS:
3 Issuance of Fisher Common Stock X X X
4 Adjournment of the meeting, if X X X
necessary, to solicit
additional proxies
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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KINDRED HEALTH CARE, DIRECTORS:
INC.
TICKER: KIND 1 Edward L. Kuntz X X X
CUSIP: 494580103 Thomas P. Cooper, MD X X X
DATE: 5/17/04 Paul J. Diaz X X X
- ----------------------
Michael J. Embler X X X
Garry N. Garrison X X X
Isaac Kaufman X X X
John H. Klein X X X
Eddy J. Rogers, Jr. X X X
AUDITORS:
OTHER MATTERS:
2 Approval of the Kindred Healthcare, X X X
Inc. 2001 Stock
Incentive Plan, amended and restated
3 Approval of the Kindred Healthcare, X X X
Inc. 2001 Stock
Option Plan for non-employee directors,
amended and
restated
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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KELLWOOD CO. DIRECTORS:
TICKER: KWD 1 M. Bloom X X X
CUSIP: 488044108 M. Granoff X X X
DATE: 6/2/04 R. Skinner, Jr. X X X
- ----------------------
H. Upbin X X X
AUDITORS:
2 N/A
OTHER MATTERS:
4 Foreign labor standards & enforcement X X X
5
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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KYPHON INC. DIRECTORS:
TICKER: KYPH 1 Stephen M. Campe X X X
CUSIP: 501577100 Douglas W. Kohrs X X X
DATE: 6/14/04 Jack W. Lasersohn X X X
- ----------------------
AUDITORS:
2 Ratify the appointment of X X X
PricewaterhouseCoopers
LLP as independent auditors for the
fiscal year ending
31-Dec-04
OTHER MATTERS:
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2003 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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LANCASTER DIRECTORS:
COLONY
TICKER: LANC 1 Kerrii B. Anderson X X X
CUSIP: 513847103 James B. Bachmann X X X
DATE: 11/17/03 Robert S. Hamilton X X X
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AUDITORS:
2 n/a
OTHER MATTERS:
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2003 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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MICROSOFT DIRECTORS:
CORP.
TICKER: MSFT 1 William H. Gates III X X X X
CUSIP: 594918104 Steven A. Ballmer X X X X
DATE: 11/11/03 James I. Cash Jr. X X X X
- ----------------------
Raymond V. Gilmartin X X X X
A. McLaughlin Korologos X X X
David F. Marquardt X X X
Charles H. Noski X X X
Helmut Panke X X X
Wm G. Reed X X X
Jon A. Shirley X X
AUDITORS:
2 n/a
OTHER MATTERS:
3 Adoption of the amendments to the 2001 X X
stock plan
Adoption of the amendments to the 1999 X X
stock option
plan for non-employee directors
Shareholder proposal(the board X X
recommends a vote
"against" this proposal)
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDERPRO CON ABST. FOR W/HOLD PRO CON
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VODAFONE DIRECTORS:
TICKER: NFG 1 Philip C. Ackerman X X X X
CUSIP: 636180101 Bernard S. Lee Ph.D. X X X X
DATE: 2/19/04
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AUDITORS:
2 N/A
OTHER MATTERS:
3 Appointment of Independent Accountants X X
4 Adoption of, if presented at the X X
meeting, a shareholder
proposal
5
6
7
8
9
10
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDERPRO CON ABST. FOR W/HOLD PRO CON
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PLUM CREEK TIMBER DIRECTORS:
COMPANY
TICKER: PCL 1 Rick R. Holley X X X
CUSIP: 729251108 Ian B. Davidson X X X
DATE: 4/21/04 Robin Josephs X X X
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David D. Leland X X X
John G. McDonald X X X
Hamid R. Moghadam X X X
John H. Scully X X X
Stephen C. Tobias X X X
Carl B. Webb X X X
AUDITORS:
2 Proposal to ratify appointment of Ernst X X X
& Young as
independent auditors
OTHER MATTERS:
3 Proposal regarding approval of amended X X X
and restated
stock incentive plan
4 Stockholder proposal regarding adoption X X X
of a ceres
principles
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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THE PHOENIX DIRECTORS:
COMPANIES, INC.
TICKER: PNX 1 Jean S. Blackwell X X X
CUSIP: 71902E109 Arthur P. Byrne X X X
DATE: 4/21/04 Ann Maynard Gray X X X
- -----------------------------
Dona D. Young X X X
AUDITORS:
2 Ratification of the appointment of X X X
PricewaterHouse
Coopers LLP as independent auditor
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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PROQUEST CO. DIRECTORS:
TICKER: PQE 1 David Bonderman X X X
CUSIP: 74346P102 David G. Brown X X X
DATE: 5/21/04 Alan W. Aldworth X X X
- ----------------------
William E. Oberndorf X X X
James P. Roemer X X X
Gary L. Roubos X X X
Todd S. Nelson X X X
Linda G. Roberts X X X
William J. White X X X
AUDITORS:
2
OTHER MATTERS:
4 2003 Strategic Performance Plan X X X
5
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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RAYONIER, INC DIRECTORS:
TICKER: RYN 1 Ronald M. Gross X X X
CUSIP: 754907103 Thomas I. Morgan X X X
DATE: 5/19/04 Katherine D. Ortega X X X
- ----------------------
AUDITORS:
OTHER MATTERS:
2 Approval of an amendment to the X X
company's articles of
incorporation to increase the number of
authorized
common shares
3 Approval of an amendment to the 2004 X X
incentive stock
and management bonus plan to increase
the number
of shares available thereunder
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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SUNRISE SENIOR LIVING DIRECTORS:
TICKER: SRZ 1 Craig R. Callen X X X
CUSIP: 86768K106 Paul J. Klaassen X X X
DATE: 5/5/04
- ----------------------
AUDITORS:
2 Independent Accountants not specified
3
OTHER MATTERS:
4
5
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2003 ISSUESHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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LONESTAR DIRECTORS:
STEAKHOUSE
TICKER: STAR 1 R. Clark X X X X
CUSIP: 542307103 Mandigo X X X X
DATE: 7/11/03 John D. White X X X X
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Thomas C. Lasorda X X X X
AUDITORS:
2 Ernst & Young
OTHER MATTERS:
3 To ratify the appt of Ernst & Young LLP X X X
as the
company's independent auditors for the
fiscal year
ending 12/30/03
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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STORAGE TECHNOLOGY DIRECTORS:
TICKER: STK 1 James R. Adams X X X
CUSIP: 862111200 Charles E. Foster X X X
DATE: 5/19/04 Mercedes Johnson X X X
- ----------------------
William T. Kerr X X X
Robert E. Lee X X X
Patrick J. Martin X X X
Judy C. Odom X X X
AUDITORS:
2 2004 Long Term Incentive Plan X X X
3 2004 Performance-Based Incentive Bonus X X X
Plan
OTHER MATTERS:
4 Cumulative Voting for Directors X X
5
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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SUNCOR DIRECTORS:
ENERGY, INC.
TICKER: SU 1 Mel E. Benson X X X
CUSIP: 867229106 Brian A. Canfield X X X
DATE: 4/21/04 Susan E. Crocker X X X
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Bryan P. Davies X X X
Brian A. Felesky X X X
John T. Ferguson X X X
W. Douglas Ford X X X
Richard L. George X X X
John R. Huff X X X
Robert W. Korthals X X X
M. Ann McCaig X X X
Michael W. O'Brien X X X
JR Shaw X X X
AUDITORS:
2 Reappointment of X X X
PricewaterHouseCoopers LLP as
auditor of the corporation for the
ensuing year
OTHER MATTERS:
3 Resolution requesting the Board of X X X
Directors establish
a policy of seeking shareholder
approval for any new
executive officer participation in the
company's
supplemental executive retirement plan
(SERP)
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2003 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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THOR DIRECTORS:
INDUSTRIES
TICKER: THOR 1 Neil D. Chrisman X X X X
CUSIP: 885160101 Alan Siegel X X X X
DATE: 12/9/03 Geoffrey A. Thompson X X X X
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AUDITORS:
2 n/a
OTHER MATTERS:
3 Amendment to the company's certificate X X X
of
incorporation to increase the
authorized number of
shares of common stock from 40,000,000
to
250,000,000.00
Approval of THOR Industries, Inc. X X X
Annual Incentive
Plan
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2003 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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VODAFONE DIRECTORS:
TICKER: VOD 1 Lord MacLaurin of Knebworth X X X
CUSIP: 92857W100 Kenneth Hydon X X X
DATE: 7/30/03 Thomas Geitner X X X
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Professor Sir Alec Broers X X X
Jurgen Schrempp X X X
Dr. John Buchanan X X X
X
X
X
AUDITORS: X X
2 Deloitte & Touche X
OTHER MATTERS: X
3 To receive the report of directors & X X
financial statements
4 To approve the renumeration report X X X
5 To approve a final dividend of .8983 X X X
6 To authorize the audit committee to X X X
determine the
auditors remuneration
7 To authorize donations and expenditure X X X
under the
political parties, elections &
referendums act of 2000
8 To renew authority to allot shares X X X
under Article 16.2
of the company's Articles of
Association
9 To renew authority to disapply X X X
preemption rights
under article 16.3
10 To authorize the company's repurchase X X X
of its shares
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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VOLT INFO. DIRECTORS:
SCIENCES
TICKER: VOLT 1 Lloyd Frank X X X
CUSIP: 928703107 Bruce G. Goodman X X X
DATE: 4/9/04 Mark N. Kaplan X X X
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Steven A. Shaw X X X
Theresa A. Havell X X X
AUDITORS:
2 Ernst & Young
OTHER MATTERS:
To ratify the action of the board of
3 directors in X X X
appointing Ernst & Young LLP as the
company's
independent auditors for the fiscal
year ending
October 31,2004
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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VERIZON DIRECTORS:
TICKER: VZ 1 J.R. Barker X X X
CUSIP: 92343V104 R.L. Carrion X X X
DATE: 4/20/04 R.W. Lane X X X
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S.O. Moose X X X
J. Neubauer X X X
T.H. O'Brien X X X
H.B. Price X X X
I.G. Seidenberg X X X
W.V. Shipley X X X
J.R. Stafford X X X
R.D. Storey X X X
AUDITORS:
2 Ratification of independent auditor X X
OTHER MATTERS:
3 Cumulative Voting X X
4 Board Composition X X X
5 Separate Chairman and CEO X X X
6 Future Poison Pill X X X
7 Supplemental Executive Retirement Plans X X X
Options or Stock Grants Based on
8 Tracking Stock X X X
Diversity Report on Option Grants to
9 Employees X X X
10 Report on Political Contributions X X X
Collection of Universal Service &
11 Number Portability X X
Fees
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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WOODWARD DIRECTORS:
GOVERNOR
TICKER: WGOV 1 John D. Cohn X X X
CUSIP: 980745103 Michael H. Joyce X X X
DATE: 1/28/04 James R. Rulseh X X X
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AUDITORS:
2 n/a
OTHER MATTERS:
3 A vote for election of above nominees. X X X
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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WELLMAN, INC. DIRECTORS:
TICKER: WLM 1 James B. Baker X X X
CUSIP: 949702104 Thomas M. Duff X X X
DATE: 5/17/04 Richard F. Heitmiller X X X
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Gerard J. Kerins X X X
David J. McKittrick X X X
James E. Rogers X X X
Roger A. Vandenberg X X X
AUDITORS:
Proposal to ratify the selection of
2 Ernst & Young LLP as X X X
independent auditors of Wellman for the
fiscal year
ending Dec. 31, 2004
OTHER MATTERS:
Proposal to ratify adoption of the
3 Wellman, Inc X X X
Restricted Stock Plan
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COMPANY INFORMATION: ITEMS TO BE VOTED ON: PROPOSED BY: FUND VOTE: DIRECTORS: VS.
MANAGEMENT:
2004 MGMT SHAREHOLDER PRO CON ABST. FOR W/HOLD PRO CON
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WASHINGTON DIRECTORS:
MUTUAL
TICKER: WM 1 Anne V. Farrell X X X
CUSIP: 939322103 Stephen E. Frank X X X
DATE: 4/19/04 Margaret Osmer McQuade X X X
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William D. Schute X X X
AUDITORS:
2 Deloitte & Touche LLP X X X
OTHER MATTERS:
3 Shareholder Resolution: Proposes X X X
specific measures
to limit salary, bonuses, long term
compensation, and
severance pay for senior executives,
and to provide
adequate disclosure regarding
compensation
arrangements.
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SIGNATURES
[See General Instruction F]
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) IPS Funds
By (Signature and Title)* Greg D'Amico, President
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Date 08/27/2004
* Print the name and title of each signing officer under his or her signature.