SecProbe.io

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      May 20, 2005

Mail Stop 4561

Shaun D. O`Brien
Chief Financial Officer
IDS Managed Futures, L.P.
233 South Wacker Drive, Suite 2300
Chicago, IL  60606

Re:	IDS Managed Futures, L.P.
      Form 10-K for the fiscal year ended December 31, 2004
      File No. 0-16515

Dear Mr. O`Brien:

      We have reviewed your filing and have the following
comments.
We have limited our review to only your financial statements and
related disclosures and will make no further review of your
documents.  As such, all persons who are responsible for the
adequacy
and accuracy of the disclosure are urged to be certain that they
have
included all information required pursuant to the Securities
Exchange
Act of 1934.

      Where indicated, we think you should revise your document in
response to these comments in future filings.  If you disagree, we
will consider your explanation as to why our comment is
inapplicable
or a revision is unnecessary.  Please be as detailed as necessary
in
your explanation.  In some of our comments, we may ask you to
provide
us with supplemental information so we may better understand your
disclosure.  After reviewing this information, we may or may not
raise additional comments.

	Please understand that the purpose of our review process is
to
assist you in your compliance with the applicable disclosure
requirements and to enhance the overall disclosure in your filing.
We look forward to working with you in these respects.  We welcome
any questions you may have about our comments or any other aspect
of
our review.  Feel free to call us at the telephone numbers listed
at
the end of this letter.

Form 10-K for the fiscal year ended December 31, 2004

Financial Statements

Report of Independent Registered Public Accounting Firm
1. Supplementally, please confirm that you obtained a manually
signed
audit report from your auditors in accordance with Rule 302 of
Regulation S-T.  In future filings, please include the auditor`s
signature in typed form within the electronic 10-K filing.
2. Supplementally, tell us the city and state where your
accountant`s
report was issued.  In future filings, please have your
accountants
provide this information within their accountants` report as
required
by Rule 2-02 of Regulation S-X.

Note 6 - Investments in Other Commodity Pool
3. Please advise us why you have not included financial statements
for IDS Managed Fund LLC as required by Rule 3-09 of Regulation S-
X.

*  *  *  *

	As appropriate, please respond to these comments within 10
business days or tell us when you will provide us with a response.
Please furnish a cover letter with your proposed revisions that
keys
your responses to our comments and provides any requested
supplemental information.  Detailed cover letters greatly
facilitate
our review.  Please file your cover letter on EDGAR.  Please
understand that we may have additional comments after reviewing
your
responses to our comments.

	We urge all persons who are responsible for the accuracy and
adequacy of the disclosure in the filings reviewed by the staff to
be
certain that they have provided all information investors require
for
an informed decision.  Since the company and its management are in
possession of all facts relating to a company`s disclosure, they
are
responsible for the accuracy and adequacy of the disclosures they
have made.

	In connection with responding to our comments, please
provide,
in writing, a statement from the company acknowledging that

* the company is responsible for the adequacy and accuracy of the
disclosure in the filings;

* staff comments or changes to disclosure in response to staff
comments do not foreclose the Commission from taking any action
with
respect to the filings; and

* the company may not assert staff comments as a defense in any
proceeding initiated by the Commission or any person under the
federal securities laws of the United States.

      In addition, please be advised that the Division of
Enforcement
has access to all information you provide to the staff of the
Division of Corporation Finance in our review of your filings or
in
response to our comments on your filings.

	You may contact Howard Efron, Staff Accountant, at (202) 551-
3439 or the undersigned at (202) 551-3403 if you have questions.

							Sincerely,

Steven Jacobs
Branch Chief

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IDS Managed Futures, L.P.
May 20, 2005
Page 3

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