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Riversource Variable Portfolio Managers Series, Inc. – ‘NSAR-B/A’ for 8/31/04

On: Friday, 1/28/05, at 12:26pm ET · Effective: 1/28/05 · For: 8/31/04 · Accession #: 820027-5-63 · File #: 811-10383

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 1/28/05  Axp Var Port Partners Series Inc. NSAR-B/A    8/31/04    3:24K                                    American Express F… Corp

Amendment to Annual Report by an Investment Company — Form N-SAR — ICA’40
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: NSAR-B/A    Axp Variable Portfolio - Partners Series, Inc.        16     63K 
 2: EX-99.77B ACCT LTTR  Report of Independent Registered Public       2      9K 
                Accounting Firm                                                  
 3: EX-99.77O RULE 10F-3  Rule 10F-3 Report                            3     10K

‘NSAR-B/A’ — Axp Variable Portfolio – Partners Series, Inc.

SEC Info℠ rendering: Data from the Answer File, which may only contain updates to a prior Form N-SAR

Form N-SAR

Annual Report by an Open-End Investment Company

Report
Registrant: Axp Variable Portfolio-Partners Series, Inc. — List all N-SARs

Annual Report for the 2nd-half period ended at fiscal year end: 8/31/04

Were there any Answer File errors in the Filing? None FoundNone Found by SEC InfoNot Checked by the FilerOne or more Found by SEC Info
Was the Answer File completed by the Registrant? Yes

Is this an Amendment to a previous Report? Yes
Is this a change to a previous Report? No
Registrant
1. SEC CIK: 1140533
SEC File #: 811-10383

Telephone #: 612-671-2059
2. Address: 50606 Axp Financial Center
Minneapolis, MN 55474
3. Is this the first Form N-SAR filed by the Registrant? No
4. Is this the final Form N-SAR filed by the Registrant? No
Funds/Series ↑Top of Form N-SAR
7. Is the Registrant a Funds/Series (multiple portfolios) company? Yes

The number of separate Funds/Series (portfolios) at period end: 2
The number of separate Funds/Series (portfolios) reported here: 2...

N-SAR S# Fund/Series — Filings for F/S#… ⇒ Symbols
↓Information Common to All
↓ Series 2: Axp VP Partners Select Value Fund — N-SARs
↓ Series 1: Axp VP Partners Small Cap Value Fund — N-SARs
Family of Investment Companies
19. Is the Registrant/Series part of a “family” of investment companies? Yes

Total number of registered management investment companies, Series
and portfolios (excluding any Unit Investment Trusts) in the family: 87

The Identification Code of the family for Form N-SAR Filings: AMEXPFUNDS
Investment Company Type
27. Is the Registrant an “open-end” investment company? Yes, Open-End
Additional Disclosures
77. Did the Registrant file any additional Exhibits with the filing of this
Report (listed here and filed either herewith — as one of the ‘EX-99.*’
↑Exhibits in this Filing — or separately and incorporated by reference)? Yes

EX-99.77B: Accountant’s Report re: Internal Controls? Yes

EX-99.77O: Transaction Effected — Rule 10f-3 – ICA’40? Yes
Subsidiaries
78. Does the Registrant have any wholly-owned investment company
subsidiaries whose operating and financial data are consolidated with
that of the Registrant in this Report? No
All Series ↑List of 2 Funds/Series Reported Here

Information Common to All Funds/Series
All: Administrator
10.1 Name: American Express Financial Corp.
SEC File #: 801-14721
Location: Minneapolis, MN
All: Independent Public Accountant
13.1 Name: KPMG LLP
Location: Minneapolis, MN
All: Custodian
18. Does the Registrant’s/Series’ Custodian(s) maintain some or all of the
Registrant’s/Series’ securities in a central depository or book-entry
system pursuant to Rule 17f-4? Yes
All: Brokerage Commissions Paid on Portfolio Transactions
20. The brokers who received the largest amount of gross brokerage
commissions during the period:
20.1 Broker: M.J. Whitman LLC
IRS #: 01-0690868
Commissions paid ($000s): 46
20.2 Broker: Cantor Fitzgerald & Co.
IRS #: 13-3680184
Commissions paid ($000s): 42
20.3 Broker: Jefferies & Co., Inc.
IRS #: 95-2622900
Commissions paid ($000s): 36
20.4 Broker: Itg Inc.
IRS #: 95-2848406
Commissions paid ($000s): 30
20.5 Broker: Credit Suisse First Boston Corp.
IRS #: 13-5659485
Commissions paid ($000s): 21
20.6 Broker: Charles Schwab & Co., Inc.
IRS #: 94-1737782
Commissions paid ($000s): 21
20.7 Broker: Lehman Brothers Inc.
IRS #: 13-2518466
Commissions paid ($000s): 20
20.8 Broker: Jones & Associates, Inc.
IRS #: 95-3583143
Commissions paid ($000s): 18
20.9 Broker: Pulse Trading Inc.
IRS #: 04-3573598
Commissions paid ($000s): 14
20.10 Broker: Susquehanna Investment Group
IRS #: 22-2454154
Commissions paid ($000s): 14
21. Total brokerage commissions paid by the Registrant during the period:
Aggregate paid ($000s): 596
All: Portfolio Transactions with Entities Acting as Principals
22. The entities acting as principals with whom the Registrant did the
largest amount of portfolio transactions, based on total value of
principal, during the period:
22.1 Entity: Lehman Brothers Inc.
IRS #: 13-2518466
Registrant’s purchases ($000s): 1,043,660
22.2 Entity: Citigroup Global Markets Inc.
IRS #: 11-2418191
Registrant’s purchases ($000s): 465,506
22.3 Entity: Credit Suisse First Boston Corp.
IRS #: 13-5659485
Registrant’s purchases ($000s): 414,972
22.4 Entity: Goldman, Sachs & Co.
IRS #: 13-5108880
Registrant’s purchases ($000s): 288,883
22.5 Entity: Household Finance Corp.
IRS #: 36-1239445
Registrant’s purchases ($000s): 234,287
22.6 Entity: Ge Investment Services Inc.
IRS #: 06-1362678
Registrant’s purchases ($000s): 233,388
22.7 Entity: Wachovia Securities Inc.
IRS #: 54-0796506
Registrant’s purchases ($000s): 202,387
22.8 Entity: Morgan Stanley
IRS #: 13-2655998
Registrant’s purchases ($000s): 162,823
22.9 Entity: Merrill Lynch, Pierce, Fenner & Smith Inc.
IRS #: 13-5674085
Registrant’s purchases ($000s): 154,651
22.10 Entity: Abbey National
Registrant’s purchases ($000s): 104,695
23. Total purchase/sale transactions by the Registrant during the period:
Aggregate purchases ($000s): 3,518,595
Aggregate sales ($000s): 1,692
All: Considerations which Affected the Participation of Brokers or Dealers
26. Considerations which affected the participation of brokers or dealers or
other entities in commissions or other compensation paid on portfolio
transactions of the Registrant:

Consideration?
Sales of the Registrant’s/Series’ shares ............................... No
Receipt of investment research and statistical info .................... Yes
Receipt of quotations for portfolio valuations ......................... Yes
Ability to execute portfolio transactions to obtain the best price
and execution ........................................................ Yes
Receipt of telephone line and wire services ............................ No
Broker or Dealer which is an affiliated person ......................... Yes
An arrangement to return or credit part or all of commissions or
profits thereon...
To an Investment Adviser or Principal Underwriter, or to an
affiliated person of either ...................................... Yes
To the Registrant .................................................. No
Other .................................................................. Yes
All: Advisory Fee
54. Indicated below are whether services were supplied or paid for wholly or
in substantial part by Investment Adviser(s) or Administrator(s) in
connection with the advisory or administrative contract(s) but for which
the Adviser(s) or Administrator(s) are not reimbursed by the Registrant:

Provided to the Registrant?
Occupancy and office rental ............................................ Yes
Clerical and bookkeeping services ...................................... Yes
Accounting services .................................................... Yes
Services of independent auditors ....................................... No
Services of outside counsel ............................................ No
Registration and filing fees ........................................... No
Stationery, supplies and printing ...................................... Yes
Salaries & compensation of Registrant’s interested Directors ........... Yes
Salaries & compensation of Registrant’s disinterested Directors ........ No
Salaries & compensation of Registrant’s Officers who aren’t Directors .. Yes
Reports to current shareholders ........................................ No
Determination of offering and redemption prices ........................ Yes
Trading department ..................................................... Yes
Prospectus preparation and printing for current shareholders ........... No
Other .................................................................. Yes
All: Miscellaneous Info
55. Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
Overdrafts? No
Bank loans? No
56. During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies? Yes
57. Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend? No
All: Classification and Asset Allocation
62. Does the Registrant/Series invest primarily in debt securities,
including convertible debt securities, options & futures on debt
securities or indices of debt securities? No
All: Fidelity Bond in Effect at Fiscal Year End
80. Insurer: Great American Insurance Co.
2nd Insurer: Travelers Casualty & Surety Co. of America

Aggregate face amount of coverage for the Registrant/Series on all bonds
on which it is named as an insured ($000s): 600
81. Is the bond part of a joint fidelity bond(s) shared with other
investment companies or other entities? No
82. Does the mandatory coverage of the fidelity bond have a deductible? No
83. Were any claims with respect to this Registrant/Series filed under the
bond during the period? No
84. Were any losses incurred with respect to this Registrant/Series that
could have been filed as a claim under the fidelity bond but were not? No
85. Are the Registrant’s/Series’ Officers and Directors covered as Officers
and Directors of the Registrant/Series under any errors and omissions
insurance policy owned by the Registrant/Series or anyone else? Yes

Were any claims filed under such policy during the period with respect
to the Registrant/Series? No
Series 1 ↑Information Common to All Funds/Series ↑List of 2 Funds/Series
7. Name: Axp VP Partners Small Cap Value Fund — N-SARs

Is this the final Form N-SAR filed for this Fund/Series? No
S 1: Investment Adviser
8.1 Name: American Express Financial Corp.
Role: Adviser
SEC File #: 801-147211
Location: Minneapolis, MN
8.2 Name: Goldman Sachs Asset Management, L.P. (Gsam)
Role: Sub-Adviser
SEC File #: 801-16048
Location: New York, NY
8.3 Name: Royce & Associates, LLC
Role: Sub-Adviser
SEC File #: 801-08268
Location: New York, NY
8.4 Name: Donald Smith & Co., Inc.
Role: Sub-Adviser
SEC File #: 801-10798
Location: Paramus, NJ
8.5 Name: Franklin Portfolio Associates, LLC
Role: Sub-Adviser
SEC File #: 801-54328
Location: Boston, MA
8.6 Name: Barrow, Hanley, Mewhinney & Strauss, Inc.
Role: Sub-Adviser
SEC File #: 801-31237
Location: Dallas, TX
S 1: Custodian
15.1 Name: American Express Trust Co.
Role: Custodian
Location: Minneapolis, MN

Type of custody: Section 17(f)(1) — Bank
15.2 Name: Bank of New York
Role: Sub-Custodian
Location: New York, NY

Type of custody: Rule 17f-5 — Foreign Custodian
S 1: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? Yes

25.
The brokers or dealers, or their parents (issuers):
25.1 Name: Affiliated Managers Group
IRS #: 04-3218510
Type of security owned: Equity
Value of securities owned at period end ($000s): 329
25.2 Name: E*Trade Financial
IRS #: 77-0116489
Type of security owned: Equity
Value of securities owned at period end ($000s): 203
25.3 Name: Knight Trading Group
IRS #: 52-2096335
Type of security owned: Equity
Value of securities owned at period end ($000s): 284
25.4 Name: Citigroup Global Markets Holdings
IRS #: 11-2418067
Type of security owned: Equity
Value of securities owned at period end ($000s): 9,600
S 1: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 6,597
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 383
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 6,368
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 375
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 5,656
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 500
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 7,426
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 596
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 8,313
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 1,482
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 7,612
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 821

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 41,972
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 4,157

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 0
S 1: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance)
29. Was a front-end sales load deducted from any share sales during the
period? No
34. Did the Registrant/Series impose a deferred or contingent deferred sales
load during the period? No
37. Did the Registrant/Series impose a redemption fee other than a deferred
or contingent sales load during the period? No
39. Were any account maintenance fees or other administrative fees imposed
directly on shareholders during the period? No
S 1: Payment Plan for the Distribution of Fund Shares
40. During the period, did the Registrant/Series have a plan of distribution
adopted pursuant to Rule 12b-1? Yes
41. During the period, did the Registrant/Series use its assets directly to
make payments under the 12b-1 plan? Yes
42. For the period, the percentage of total dollars paid directly by the
Registrant/Series under the 12b-1 plan for each of the following:

Percentage of Total Amount Paid (%)
Advertising ............................................................ –
Printing & mailing of prospectuses to other than current shareholders .. –
Payments to underwriters ............................................... –
Payments to brokers or dealers ......................................... –
Direct payments to sales personnel ..................................... –
Payments to banks and savings & loans .................................. –
Other uses, including payments to its Investment Adviser separate
from the advisory fee ................................................ –
Unallocated payments made for a combination of such services ........... 100
43. Total amount paid directly by the Registrant/Series pursuant to its
12b-1 plan ($000s): 153
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 0
S 1: Advisory Fee
45. Did the Registrant/Series have an advisory contract during the period? Yes
46. Did the Registrant/Series pay more than one Investment Adviser directly
for investment advice during the period? Yes
47. Was the Registrant’s/Series’ advisory fee based solely on a percentage
of its assets? No
49. Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income? No
50. Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets? No
51. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance? Yes
52. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants? No
53. Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws? No
S 1: Classification and Asset Allocation
58. Is the Registrant/Series a Separate Account of an insurance company? No
59. Is the Registrant/Series a management investment company? Yes
60. Was the Registrant/Series a diversified investment company at any time
during the period? No

Was the Registrant/Series a diversified investment company at the end of
the period? No
61. The lowest minimum initial investment required by the Registrant/Series
from an investor that is not an employee or otherwise affiliated with
the Registrant/Series, its Investment Adviser, Principal Underwriter or
other affiliated entity: $600
66. Is the Registrant/Series a Fund that usually invests in equity
securities, options & futures on equity securities, indices of equity
securities or securities convertible into equity securities? Yes

Which best describes its primary investment objective:

Aggressive capital appreciation? No
Capital appreciation? Yes
Growth? No
Growth and income? No
Income? No
Total return? No
67. Is the Registrant/Series a “balanced” Fund? No
68. Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
Engaged primarily in production or distribution of precious metals? No
Located primarily in countries other than the United States? No
69. Is the Registrant/Series an index Fund? No
S 1: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes No
Writing or investing in options on equities? Yes No
Writing or investing in options on debt securities? No –
Writing or investing in options on stock indices? Yes No
Writing or investing in interest rate futures? No –
Writing or investing in stock index futures? Yes No
Writing or investing in options on futures? No –
Writing or investing in options on stock index futures? Yes No
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes No
Investments in shares of other investment companies? Yes to both
Investments in securities of foreign issuers? Yes to both
Currency exchange transactions? Yes to both
Loaning portfolio securities? Yes No
Borrowing of money? Yes No
Purchases/sales by certain exempted affiliated persons? Yes No
Margin purchases? No –
Short selling? No –
S 1: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 203,100
Sales ($000s): 141,345

Monthly average Value of portfolio ($000s): 167,311

Percent turnover (lesser of Purchases or Sales, divided by Value): 84%
S 1: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 12

Income ($000s)
Net interest income .............................................. 250
Net dividend income .............................................. 1,773
Account maintenance fees ......................................... –
Net other income ................................................. –

Expenses ($000s)
Advisory fees .................................................... 1,776
Administrator fees ............................................... 153
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. –
Custodian fees ................................................... 177
Postage .......................................................... –
Printing expenses ................................................ 23
Directors’ fees .................................................. 9
Registration fees ................................................ –
Taxes ............................................................ –
Interest ......................................................... –
Bookkeeping fees paid to anyone performing this service .......... –
Auditing fees .................................................... 18
Legal fees ....................................................... –
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. 235
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 5
Total expenses ................................................... 2,396

Expense reimbursements ($000s): 0

Net investment income ($000s): -373

Realized capital gains ($000s): 23,789
Realized capital losses ($000s): 0

Net unrealized appreciation during the period ($000s): 816
Net unrealized depreciation during the period ($000s): 0

Total income dividends for which the record date passed during the
period ($000s): 49

Total capital gains distributions for which the record date passed
during the period ($000s): 2,450
73. Distributions per share for which the record date passed during the
period, shown in fractions of a cent, if so declared:

Dividends from net investment income: $0.0000

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 1: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. 2,575
Repurchase agreements ............................................ –
Short-term debt securities, other than repurchase agreements ..... 24,891
Long-term debt securities, including convertible debt ............ –
Preferred, conv. preferred and adjustable-rate preferred stock ... 223
Common stock ..................................................... 201,710
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ –
Receivables from portfolio instruments sold ...................... 235
Receivables from affiliated persons .............................. –
Other receivables ................................................ 125
All other assets ................................................. –
Total assets ..................................................... 229,759

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... 535
Amounts owed to affiliated persons ............................... –
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 355

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 228,869

Number of shares outstanding (000s): 17,472

Net Asset Value (NAV) per share (to nearest cent): $13.10

Total number of shareholder accounts: 43

Total value of assets in segregated accounts ($000s): 0
75. Monthly average net assets during the period ($000s): 186,820
Series 2 ↑Information Common to All Funds/Series ↑List of 2 Funds/Series
7. Name: Axp VP Partners Select Value Fund — N-SARs

Is this the final Form N-SAR filed for this Fund/Series? No
S 2: Investment Adviser
8.1 Name: American Express Financial Corp.
Role: Adviser
SEC File #: 801-14721
Location: Minneapolis, MN
8.2 Name: Gamco Investors, Inc.
Role: Sub-Adviser
SEC File #: 801-14132
Location: Rye, NY
S 2: Custodian
15.1 Name: American Express Trust Co.
Role: Custodian
Location: Minneapolis, MN

Type of custody: Section 17(f)(1) — Bank
S 2: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? No
S 2: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 1,076
Reinvestment of dividends and distributions ................ 1
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 1
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 984
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 2
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 901
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 100
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 897
Reinvestment of dividends and distributions ................ 2
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 5
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 936
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 56
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 813
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 7

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 5,607
Reinvestment of dividends and distributions ................ 3
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 171

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 0
S 2: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance)
29. Was a front-end sales load deducted from any share sales during the
period? No
34. Did the Registrant/Series impose a deferred or contingent deferred sales
load during the period? No
37. Did the Registrant/Series impose a redemption fee other than a deferred
or contingent sales load during the period? No
39. Were any account maintenance fees or other administrative fees imposed
directly on shareholders during the period? No
S 2: Payment Plan for the Distribution of Fund Shares
40. During the period, did the Registrant/Series have a plan of distribution
adopted pursuant to Rule 12b-1? Yes
41. During the period, did the Registrant/Series use its assets directly to
make payments under the 12b-1 plan? Yes
42. For the period, the percentage of total dollars paid directly by the
Registrant/Series under the 12b-1 plan for each of the following:

Percentage of Total Amount Paid (%)
Advertising ............................................................ –
Printing & mailing of prospectuses to other than current shareholders .. –
Payments to underwriters ............................................... –
Payments to brokers or dealers ......................................... –
Direct payments to sales personnel ..................................... –
Payments to banks and savings & loans .................................. –
Other uses, including payments to its Investment Adviser separate
from the advisory fee ................................................ –
Unallocated payments made for a combination of such services ........... 100
43. Total amount paid directly by the Registrant/Series pursuant to its
12b-1 plan ($000s): 2
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 0
S 2: Advisory Fee
45. Did the Registrant/Series have an advisory contract during the period? Yes
46. Did the Registrant/Series pay more than one Investment Adviser directly
for investment advice during the period? Yes
47. Was the Registrant’s/Series’ advisory fee based solely on a percentage
of its assets? No
49. Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income? No
50. Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets? No
51. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance? Yes
52. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants? No
53. Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws? Yes

Was the limitation that applied during the period based on...
Assets? Yes
Income? No
S 2: Classification and Asset Allocation
58. Is the Registrant/Series a Separate Account of an insurance company? No
59. Is the Registrant/Series a management investment company? Yes
60. Was the Registrant/Series a diversified investment company at any time
during the period? Yes

Was the Registrant/Series a diversified investment company at the end of
the period? Yes
61. The lowest minimum initial investment required by the Registrant/Series
from an investor that is not an employee or otherwise affiliated with
the Registrant/Series, its Investment Adviser, Principal Underwriter or
other affiliated entity: $600
66. Is the Registrant/Series a Fund that usually invests in equity
securities, options & futures on equity securities, indices of equity
securities or securities convertible into equity securities? Yes

Which best describes its primary investment objective:

Aggressive capital appreciation? No
Capital appreciation? No
Growth? Yes
Growth and income? No
Income? No
Total return? No
67. Is the Registrant/Series a “balanced” Fund? No
68. Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
Engaged primarily in production or distribution of precious metals? No
Located primarily in countries other than the United States? No
69. Is the Registrant/Series an index Fund? No
S 2: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes No
Writing or investing in options on equities? Yes No
Writing or investing in options on debt securities? No –
Writing or investing in options on stock indices? Yes No
Writing or investing in interest rate futures? No –
Writing or investing in stock index futures? Yes No
Writing or investing in options on futures? No –
Writing or investing in options on stock index futures? Yes No
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes No
Investments in shares of other investment companies? Yes No
Investments in securities of foreign issuers? Yes to both
Currency exchange transactions? Yes No
Loaning portfolio securities? Yes No
Borrowing of money? Yes No
Purchases/sales by certain exempted affiliated persons? Yes No
Margin purchases? No –
Short selling? No –
S 2: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 5,472
Sales ($000s): 587

Monthly average Value of portfolio ($000s): 4,670

Percent turnover (lesser of Purchases or Sales, divided by Value): 13%
S 2: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 8

Income ($000s)
Net interest income .............................................. 6
Net dividend income .............................................. 48
Account maintenance fees ......................................... –
Net other income ................................................. –

Expenses ($000s)
Advisory fees .................................................... 26
Administrator fees ............................................... –
Salaries and other compensation .................................. 2
Shareholder Servicing Agent fees ................................. –
Custodian fees ................................................... 9
Postage .......................................................... 1
Printing expenses ................................................ –
Directors’ fees .................................................. –
Registration fees ................................................ –
Taxes ............................................................ –
Interest ......................................................... –
Bookkeeping fees paid to anyone performing this service .......... –
Auditing fees .................................................... 18
Legal fees ....................................................... –
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. 4
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 4
Total expenses ................................................... 64

Expense reimbursements ($000s): 26

Net investment income ($000s): 16

Realized capital gains ($000s): 17
Realized capital losses ($000s): 0

Net unrealized appreciation during the period ($000s): 0
Net unrealized depreciation during the period ($000s): 86

Total income dividends for which the record date passed during the
period ($000s): 16

Total capital gains distributions for which the record date passed
during the period ($000s): 0
73. Distributions per share for which the record date passed during the
period, shown in fractions of a cent, if so declared:

Dividends from net investment income: $0.0000

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 2: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. 952
Repurchase agreements ............................................ –
Short-term debt securities, other than repurchase agreements ..... –
Long-term debt securities, including convertible debt ............ –
Preferred, conv. preferred and adjustable-rate preferred stock ... –
Common stock ..................................................... 7,663
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ –
Receivables from portfolio instruments sold ...................... –
Receivables from affiliated persons .............................. –
Other receivables ................................................ 19
All other assets ................................................. –
Total assets ..................................................... 8,634

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... –
Amounts owed to affiliated persons ............................... –
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 30

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 8,604

Number of shares outstanding (000s): 865

Net Asset Value (NAV) per share (to nearest cent): $9.95

Total number of shareholder accounts: 25

Total value of assets in segregated accounts ($000s): 0
75. Monthly average net assets during the period ($000s): 5,686

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Filing Submission 0000820027-05-000063 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Riversource Variable Portfolio Managers Series, Inc. – ‘NSAR-B/A’ for 8/31/04

On: Friday, 1/28/05, at 12:26pm ET · Effective: 1/28/05 · For: 8/31/04 · Accession #: 820027-5-63 · File #: 811-10383

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Amendment to Annual Report by an Investment Company — Form N-SAR — ICA’40Filing Table of Contents

‘NSAR-B/A’ — Axp Variable Portfolio – Partners Series, Inc.

Amendment to Annual Report by an Investment Company — Form N-SAR — ICA’40
Filing Table of Contents