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000 C000000 0001011196
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001 C000000 2123922550
002 A000000 TWO WORLD TRADE CENTER
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002 D010000 10048
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008 B000001 A
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011 A000001 DEAN WITTER DISTRIBUTORS INC.
011 B000001 8-45262
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012 C010001 JERSEY CITY
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013 B020001 NY
<PAGE> PAGE 2
013 B030001 10036
014 A000001 DEAN WITTER REYNOLDS INC.
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015 A000001 THE BANK OF NEW YORK
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020 B000001 94-1671384
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020 A000002 PRUDENTIAL SECURITIES, INC.
020 B000002 22-2347336
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020 A000003 PAINE WEBBER, INC.
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020 C000003 11
020 A000004 DONALDSON, LUFKIN & JENRETTE SEC.
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020 A000005 SMITH BARNEY SHEARSON, INC.
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<PAGE> PAGE 3
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022 B000004 95-4035346
022 C000004 16998
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022 C000005 10587
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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SIGNATURE BARRY FINK
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
DEAN WITTER INCOME BUILDER FUND
SEMI ANNUAL NSAR 03/31/97
</LEGEND>
<CIK> 0001011196
<NAME> DW INCOME BUILDER
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 241,893,248
<INVESTMENTS-AT-VALUE> 248,447,172
<RECEIVABLES> 4,039,220
<ASSETS-OTHER> 176,900
<OTHER-ITEMS-ASSETS> 0
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<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 6,904,971
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 234,651,696
<SHARES-COMMON-STOCK> 22,705,553
<SHARES-COMMON-PRIOR> 14,483,618
<ACCUMULATED-NII-CURRENT> 60,347
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,492,354
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,553,924
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<DIVIDEND-INCOME> 2,724,918
<INTEREST-INCOME> 3,271,171
<OTHER-INCOME> 0
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<REALIZED-GAINS-CURRENT> 4,575,600
<APPREC-INCREASE-CURRENT> 3,362,112
<NET-CHANGE-FROM-OPS> 12,064,069
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,113,589)
<DISTRIBUTIONS-OF-GAINS> (157,191)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9,345,474
<NUMBER-OF-SHARES-REDEEMED> (1,422,872)
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<PER-SHARE-NAV-BEGIN> 10.23
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<PER-SHARE-GAIN-APPREC> 0.60
<PER-SHARE-DIVIDEND> (0.21)
<PER-SHARE-DISTRIBUTIONS> (0.01)
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<PER-SHARE-NAV-END> 10.82
<EXPENSE-RATIO> 1.89
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
