<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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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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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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SIGNATURE RICHARD BUTT
TITLE OPERATIONS MANAGER
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
SCHRODER U.S. EQUITY FUND FINANCIAL STAEMENTS DATED APRIL 30, 1996
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH REPORT.
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<CIK> 0000019532
<NAME> SCHRODER CAPITAL FUNDS
<SERIES>
<NUMBER> 001
<NAME> U.S. EQUITY FUND
<S> <C>
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<TABLE> <S> <C>
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<LEGEND>
THIS SCHEDULE CONTAINS FINANCIAL INFORMATION EXTRACTED FROM INTERNATIONAL
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<CIK> 0000019532
<NAME> SCHRODER CAPITAL FUNDS
<SERIES>
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<NAME> INTERNATIONAL EQUITY FUND-GATEWAY
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<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM U.S.
SMALLER COMPANIES FINANCIAL STATEMENTS DATED APRIL 30, 1996 AND IS
QULAIFIED IN IT'S ENTIRETY BY REFERENCE TO SUCH REPORT.
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<CIK> 0000019532
<NAME> SCHRODER CAPITAL FUNDS
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<NAME> U.S. SMALLER COMPANIES
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
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IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH REPORT.
</LEGEND>
<CIK> 0000019532
<NAME> SCHRODER CAPITAL FUNDS
<SERIES>
<NUMBER> 004
<NAME> EMERGING MARKETS FUND
<S> <C>
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