<PAGE> PAGE 1
000 A000000 04/30/97
000 C000000 0000019532
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 2.2
000 J000000 A
001 A000000 SCHRODER CAPITAL FUNDS, INC.
001 B000000 811-1911
001 C000000 2078798903
002 A000000 2 PORTLAND SQUARE
002 B000000 PORTLAND
002 C000000 ME
002 D010000 04101
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 5
007 C010100 1
007 C020100 SCHRODER U.S. EQUITY FUND
007 C030100 N
007 C010200 2
007 C020200 SCHRODER INTERNATIONAL FUND
007 C030200 N
007 C010300 3
007 C020300 SCHRODER U.S. SMALLER COMPANIES FUND
007 C030300 N
007 C010400 4
007 C020400 SCHRODER EMERGING MARKETS INSTITUTIONAL FUND
007 C030400 N
007 C010500 5
007 C020500 SCHRODER INTERNATIONAL SMALLER COMPANIES FUND
007 C030500 N
008 A00AA01 SCHRODER CAPITAL MANAGEMENT INTERNATIONAL INC
008 B00AA01 A
008 C00AA01 801-15843
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10019
012 A00AA01 FORUM FINANCIAL CORP.
012 B00AA01 84-01612
012 C01AA01 PORTLAND
012 C02AA01 ME
012 C03AA01 04112
013 A00AA01 COOPERS & LYBRAND LLP
013 B01AA01 BOSTON
013 B02AA01 MA
<PAGE> PAGE 2
013 B03AA01 02109
014 A00AA01 SCHRODER CAPITAL DISTRIBUTORS INC
014 B00AA01 8-A-40973
014 A00AA02 WERTHEIM SCHRODER INC.
014 B00AA02 8-A-99999
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 A000001 LIPPER ANALYTICAL
020 B000001 13-2792478
020 C000001 3
020 A000002 GORDON HASKETT
020 C000002 1
020 A000003 SMITH BARNEY SHERASON
020 B000003 13-1912900
020 C000003 1
020 A000004 INSTINET
020 B000004 13-3443395
020 C000004 1
020 A000005 MERRILL LYNCH
020 B000005 13-5674085
020 C000005 1
020 A000006 BERNSTEIN, SANFORD
020 C000006 0
020 A000007 BEAR STEARNS & COMPANY
020 B000007 13-3299429
020 C000007 0
020 A000008 MORGAN STANLEY
020 B000008 13-2655998
020 C000008 0
020 A000009 JP MORGAN
020 B000009 13-3224016
020 C000009 0
020 A000010 UBS SECURITIES
020 B000010 13-2932996
020 C000010 0
021 000000 10
022 A000001 LIPPER ANALYTICAL
022 B000001 13-2792478
022 C000001 0
022 D000001 249
022 A000002 BEAR STEARNS & CO.
022 B000002 13-3299429
022 C000002 0
022 D000002 226
022 A000003 COWEN & COMPANY
022 B000003 13-5616116
022 C000003 0
022 D000003 141
022 A000004 MORGAN STANLEY INTERNATIONAL
022 B000004 13-2655998
<PAGE> PAGE 3
022 C000004 0
022 D000004 100
022 A000005 SMITH BARNEY SHEARSON
022 B000005 13-1912900
022 C000005 66
022 D000005 0
022 A000006 GODLMAN SACHS
022 B000006 13-5108880
022 C000006 0
022 D000006 41
022 A000007 LEHMAN BROTHERS
022 C000007 0
022 D000007 40
022 A000008 SALOMON BROTHERS
022 B000008 13-3082694
022 C000008 0
022 D000008 25
022 A000009 DONALDSON, LUFKIN, JENERETTE
022 B000009 13-2741729
022 C000009 0
022 D000009 17
022 A000010 TROSTER SINGER
022 C000010 8
022 D000010 0
023 C000000 4479
023 D000000 5178
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
<PAGE> PAGE 4
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
077 A000000 N
078 000000 N
080 A00AA00 GULF INSURANCE COMPANY
080 C00AA00 1250
081 A00AA00 Y
081 B00AA00 1
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 N
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
010 A000101 FORUM ADMINISTRATVIE SERVICES INC., LLC
010 C010101 PORTLAND
010 C020101 ME
010 C030101 04101
010 A000102 DELETE
015 A000101 CHASE MANHATTAN BANK, N.A.
015 B000101 C
015 C010101 BROOKLYN
015 C020101 NY
015 C030101 11245
015 E010101 X
024 000100 N
025 D000101 0
025 D000102 0
<PAGE> PAGE 5
025 D000103 0
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 7
028 A020100 0
028 A030100 0
028 A040100 367
028 B010100 1
028 B020100 2684
028 B030100 0
028 B040100 12
028 C010100 17
028 C020100 0
028 C030100 0
028 C040100 23
028 D010100 14
028 D020100 0
028 D030100 0
028 D040100 3153
028 E010100 60
028 E020100 0
028 E030100 0
028 E040100 285
028 F010100 7
028 F020100 0
028 F030100 0
028 F040100 133
028 G010100 106
028 G020100 2684
028 G030100 0
028 G040100 3973
028 H000100 0
037 000100 N
038 000100 0
039 000100 Y
040 000100 N
041 000100 N
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 0
044 000100 0
045 000100 Y
<PAGE> PAGE 6
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 100
048 A020100 0.750
048 B010100 100
048 B020100 0.500
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 Y
053 B000100 Y
055 A000100 N
055 B000100 N
056 000100 Y
057 000100 N
058 A000100 N
058 B000100 N
058 C000100 N
058 D000100 N
058 E000100 N
059 000100 Y
060 A000100 Y
060 B000100 Y
061 000100 10000
062 A000100 N
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
<PAGE> PAGE 7
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 0
063 B000100 0.0
066 A000100 Y
066 B000100 N
066 C000100 Y
066 D000100 N
066 E000100 N
066 F000100 N
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 N
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 Y
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 Y
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
<PAGE> PAGE 8
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 2572
071 B000100 7525
071 C000100 15952
071 D000100 16
072 A000100 6
072 B000100 8
072 C000100 114
072 D000100 0
072 E000100 0
072 F000100 61
072 G000100 8
072 H000100 0
072 I000100 15
072 J000100 3
072 K000100 0
072 L000100 0
072 M000100 0
072 N000100 5
072 O000100 0
072 P000100 0
072 Q000100 18
072 R000100 6
072 S000100 1
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 6
072 X000100 123
072 Y000100 8
072 Z000100 7
072AA000100 2818
072BB000100 0
072CC010100 0
072CC020100 752
072DD010100 41
072DD020100 0
072EE000100 3649
073 A010100 0.0200
073 A020100 0.0000
073 B000100 2.1100
073 C000100 0.0000
074 A000100 2
<PAGE> PAGE 9
074 B000100 0
074 C000100 0
074 D000100 0
074 E000100 0
074 F000100 13853
074 G000100 0
074 H000100 0
074 I000100 538
074 J000100 0
074 K000100 0
074 L000100 18
074 M000100 0
074 N000100 14411
074 O000100 0
074 P000100 11
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 12
074 S000100 0
074 T000100 14388
074 U010100 1664
074 U020100 0
074 V010100 8.65
074 V020100 0.00
074 W000100 0.0000
074 X000100 599
074 Y000100 0
075 A000100 0
075 B000100 16453
076 000100 0.00
010 A000201 SCHRODER FUND ADVISORS INC.
010 C010201 NEW YORK
010 C020201 NY
010 C030201 10019
010 A000202 FORUM ADMINISTRATIVE SERVICES INC., LLC
010 C010202 PORTLAND
010 C020202 ME
010 C030202 04101
015 A000201 CHASE MANHATTAN BANK, N.A.
015 B000201 C
015 C010201 LONDON
015 D010201 U.K.
015 D020201 EC2P 2HD
015 E040201 X
024 000200 N
025 D000201 0
025 D000202 0
025 D000203 0
025 D000204 0
<PAGE> PAGE 10
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 1134
028 A020200 0
028 A030200 0
028 A040200 1973
028 B010200 2256
028 B020200 17732
028 B030200 0
028 B040200 10044
028 C010200 4241
028 C020200 0
028 C030200 0
028 C040200 5952
028 D010200 17679
028 D020200 0
028 D030200 0
028 D040200 7241
028 E010200 2304
028 E020200 0
028 E030200 0
028 E040200 12770
028 F010200 3804
028 F020200 0
028 F030200 0
028 F040200 4913
028 G010200 31418
028 G020200 17732
028 G030200 0
028 G040200 42893
028 H000200 0
037 000200 N
038 000200 0
039 000200 Y
040 000200 N
041 000200 N
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 0
044 000200 0
045 000200 Y
046 000200 N
047 000200 Y
<PAGE> PAGE 11
048 000200 0.450
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
055 A000200 N
055 B000200 N
056 000200 Y
057 000200 N
058 A000200 N
058 B000200 N
058 C000200 N
058 D000200 N
058 E000200 N
059 000200 Y
060 A000200 Y
060 B000200 Y
061 000200 2500
062 A000200 N
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
<PAGE> PAGE 12
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 0
063 B000200 0.0
066 A000200 Y
066 B000200 N
066 C000200 Y
066 D000200 N
066 E000200 N
066 F000200 N
066 G000200 N
067 000200 N
068 A000200 N
068 B000200 Y
069 000200 N
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 Y
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 Y
070 N010200 N
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
<PAGE> PAGE 13
070 R020200 N
071 A000200 0
071 B000200 0
071 C000200 0
071 D000200 0
072 A000200 6
072 B000200 124
072 C000200 1235
072 D000200 0
072 E000200 -718
072 F000200 0
072 G000200 191
072 H000200 0
072 I000200 21
072 J000200 0
072 K000200 0
072 L000200 0
072 M000200 4
072 N000200 12
072 O000200 0
072 P000200 0
072 Q000200 6
072 R000200 5
072 S000200 6
072 T000200 0
072 U000200 0
072 V000200 0
072 W000200 29
072 X000200 274
072 Y000200 46
072 Z000200 413
072AA000200 9181
072BB000200 0
072CC010200 2236
072CC020200 0
072DD010200 4571
072DD020200 0
072EE000200 26130
073 A010200 0.4600
073 A020200 0.0000
073 B000200 2.6300
073 C000200 0.0000
074 A000200 0
074 B000200 0
074 C000200 0
074 D000200 0
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 189129
<PAGE> PAGE 14
074 J000200 0
074 K000200 0
074 L000200 1200
074 M000200 0
074 N000200 190329
074 O000200 0
074 P000200 13
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 196
074 S000200 0
074 T000200 190120
074 U010200 10541
074 U020200 0
074 V010200 18.04
074 V020200 0.00
074 W000200 0.0000
074 X000200 907
074 Y000200 0
075 A000200 0
075 B000200 192508
076 000200 0.00
010 A000301 SCHRODER FUND ADVISORS INC.
010 C010301 NEW YORK
010 C020301 NY
010 C030301 10019
010 A000302 FORUM ADMINISTRATIVE SERVICES INC., LLC
010 C010302 PORTLAND
010 C020302 ME
010 C030302 04101
015 A000301 CHASE MANHATTAN BANK, N.A.
015 B000301 C
015 C010301 BROOKLYN
015 C020301 NY
015 C030301 11245
015 E010301 X
024 000300 N
025 D000301 0
025 D000302 0
025 D000303 0
025 D000304 0
025 D000305 0
025 D000306 0
025 D000307 0
025 D000308 0
028 A010300 346
028 A020300 0
028 A030300 0
028 A040300 640
<PAGE> PAGE 15
028 B010300 792
028 B020300 3517
028 B030300 0
028 B040300 214
028 C010300 4114
028 C020300 0
028 C030300 0
028 C040300 360
028 D010300 935
028 D020300 0
028 D030300 0
028 D040300 2087
028 E010300 3573
028 E020300 0
028 E030300 0
028 E040300 497
028 F010300 1031
028 F020300 0
028 F030300 0
028 F040300 249
028 G010300 10791
028 G020300 3517
028 G030300 0
028 G040300 4047
028 H000300 0
037 000300 N
038 000300 0
039 000300 Y
040 000300 N
041 000300 N
042 A000300 0
042 B000300 0
042 C000300 0
042 D000300 0
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 0
043 000300 0
044 000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.600
048 A010300 0
048 A020300 0.000
048 B010300 0
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
<PAGE> PAGE 16
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
055 A000300 N
055 B000300 N
056 000300 Y
057 000300 N
058 A000300 N
058 B000300 N
058 C000300 N
058 D000300 N
058 E000300 N
059 000300 Y
060 A000300 Y
060 B000300 Y
061 000300 10000
062 A000300 N
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
063 A000300 0
063 B000300 0.0
066 A000300 Y
066 B000300 N
066 C000300 Y
<PAGE> PAGE 17
066 D000300 N
066 E000300 N
066 F000300 N
066 G000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 N
070 B010300 Y
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 Y
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 Y
070 L010300 N
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 0
071 B000300 0
071 C000300 0
071 D000300 0
072 A000300 6
072 B000300 27
072 C000300 63
<PAGE> PAGE 18
072 D000300 0
072 E000300 -68
072 F000300 0
072 G000300 26
072 H000300 0
072 I000300 13
072 J000300 0
072 K000300 0
072 L000300 0
072 M000300 0
072 N000300 11
072 O000300 0
072 P000300 0
072 Q000300 6
072 R000300 5
072 S000300 7
072 T000300 0
072 U000300 0
072 V000300 0
072 W000300 10
072 X000300 78
072 Y000300 27
072 Z000300 -29
072AA000300 1537
072BB000300 0
072CC010300 0
072CC020300 1267
072DD010300 0
072DD020300 0
072EE000300 4518
073 A010300 0.0000
073 A020300 0.0000
073 B000300 5.8300
073 C000300 0.0000
074 A000300 0
074 B000300 0
074 C000300 0
074 D000300 0
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 19739
074 J000300 0
074 K000300 0
074 L000300 0
074 M000300 19
074 N000300 19758
074 O000300 0
074 P000300 0
074 Q000300 0
<PAGE> PAGE 19
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 31
074 S000300 0
074 T000300 19727
074 U010300 1654
074 U020300 8
074 V010300 11.87
074 V020300 11.85
074 W000300 0.0000
074 X000300 218
074 Y000300 0
075 A000300 0
075 B000300 16199
076 000300 0.00
010 A000401 SCHRODER FUND ADVISORS INC.
010 C010401 NEW YORK
010 C020401 NY
010 C030401 10019
010 A000402 FORUM ADMINISTRATIVE SERVICES INC., LLC
010 C010402 PORTLAND
010 C020402 ME
010 C030402 04101
015 A000401 CHASE MANHATTAN BANK, N.A.
015 B000401 C
015 C010401 LONDON
015 D010401 U.K.
015 D020401 EC2P 2HD
015 E040401 X
024 000400 N
025 A000401 DELETE
025 D000401 0
025 D000402 0
025 D000403 0
025 D000404 0
025 D000405 0
025 D000406 0
025 D000407 0
025 D000408 0
028 A010400 11626
028 A020400 0
028 A030400 0
028 A040400 8
028 B010400 0
028 B020400 99
028 B030400 0
028 B040400 0
028 C010400 13571
028 C020400 0
028 C030400 0
<PAGE> PAGE 20
028 C040400 40
028 D010400 7287
028 D020400 0
028 D030400 0
028 D040400 5000
028 E010400 8633
028 E020400 0
028 E030400 0
028 E040400 0
028 F010400 353
028 F020400 0
028 F030400 0
028 F040400 0
028 G010400 41470
028 G020400 99
028 G030400 0
028 G040400 5048
028 H000400 0
037 000400 Y
038 000400 25
039 000400 N
040 000400 N
041 000400 N
042 A000400 0
042 B000400 0
042 C000400 0
042 D000400 0
042 E000400 0
042 F000400 0
042 G000400 0
042 H000400 0
043 000400 0
044 000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 1.000
048 A010400 0
048 A020400 0.000
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
<PAGE> PAGE 21
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 0
048 K020400 0.000
055 A000400 N
055 B000400 N
056 000400 Y
057 000400 N
058 A000400 N
058 B000400 N
058 C000400 N
058 D000400 N
058 E000400 N
059 000400 Y
060 A000400 N
060 B000400 N
061 000400 250000
062 A000400 N
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
063 A000400 0
063 B000400 0.0
066 A000400 Y
066 B000400 N
066 C000400 Y
066 D000400 N
066 E000400 N
066 F000400 N
066 G000400 N
067 000400 N
068 A000400 N
068 B000400 Y
<PAGE> PAGE 22
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 Y
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 0
071 B000400 0
071 C000400 0
071 D000400 0
072 A000400 6
072 B000400 217
072 C000400 1840
072 D000400 0
072 E000400 -1876
072 F000400 0
072 G000400 103
072 H000400 0
072 I000400 29
072 J000400 0
<PAGE> PAGE 23
072 K000400 0
072 L000400 0
072 M000400 4
072 N000400 14
072 O000400 0
072 P000400 0
072 Q000400 6
072 R000400 5
072 S000400 6
072 T000400 0
072 U000400 0
072 V000400 0
072 W000400 29
072 X000400 196
072 Y000400 22
072 Z000400 7
072AA000400 0
072BB000400 3490
072CC010400 32186
072CC020400 0
072DD010400 161
072DD020400 0
072EE000400 0
073 A010400 0.0100
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 0
074 B000400 0
074 C000400 0
074 D000400 0
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 232619
074 J000400 0
074 K000400 0
074 L000400 0
074 M000400 57
074 N000400 232676
074 O000400 0
074 P000400 11
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 32
074 S000400 0
074 T000400 232633
074 U010400 16939
<PAGE> PAGE 24
074 U020400 1368
074 V010400 12.77
074 V020400 12.82
074 W000400 0.0000
074 X000400 29
074 Y000400 0
075 A000400 0
075 B000400 208940
076 000400 0.00
010 A000501 SCHRODER FUND ADVISORS INC.
010 C010501 NEW YORK
010 C020501 NY
010 C030501 10019
010 A000502 FORUM ADMINISTRATIVE SERVICES INC., LLC
010 C010502 PORTLAND
010 C020502 ME
010 C030502 04101
015 A000501 CHASE MANHATTAN BANK, N.A.
015 B000501 C
015 C010501 LONDON
015 D010501 U.K.
015 D020501 EC2P 2HD
015 E040501 X
024 000500 N
025 D000501 0
025 D000502 0
025 D000503 0
025 D000504 0
025 D000505 0
025 D000506 0
025 D000507 0
025 D000508 0
028 A010500 7000
028 A020500 0
028 A030500 0
028 A040500 0
028 B010500 0
028 B020500 0
028 B030500 0
028 B040500 0
028 C010500 383
028 C020500 0
028 C030500 0
028 C040500 0
028 D010500 4
028 D020500 0
028 D030500 0
028 D040500 0
028 E010500 1
028 E020500 0
028 E030500 0
<PAGE> PAGE 25
028 E040500 0
028 F010500 67
028 F020500 0
028 F030500 0
028 F040500 0
028 G010500 7455
028 G020500 0
028 G030500 0
028 G040500 0
028 H000500 0
037 000500 N
038 000500 0
039 000500 N
040 000500 N
041 000500 N
042 A000500 0
042 B000500 0
042 C000500 0
042 D000500 0
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 0
043 000500 0
044 000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.000
048 A010500 100
048 A020500 0.850
048 B010500 0
048 B020500 0.000
048 C010500 0
048 C020500 0.000
048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
<PAGE> PAGE 26
055 A000500 N
055 B000500 N
056 000500 Y
057 000500 N
058 A000500 N
058 B000500 N
058 C000500 N
058 D000500 N
058 E000500 N
059 000500 Y
060 A000500 N
060 B000500 N
061 000500 100000
062 A000500 N
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
063 A000500 0
063 B000500 0.0
066 A000500 Y
066 B000500 N
066 C000500 Y
066 D000500 N
066 E000500 N
066 F000500 N
066 G000500 N
067 000500 N
068 A000500 N
068 B000500 Y
069 000500 N
070 A010500 Y
070 A020500 N
070 B010500 Y
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 Y
<PAGE> PAGE 27
070 D020500 N
070 E010500 Y
070 E020500 N
070 F010500 Y
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 Y
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 Y
070 M020500 N
070 N010500 N
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 0
071 B000500 0
071 C000500 0
071 D000500 0
072 A000500 6
072 B000500 14
072 C000500 35
072 D000500 0
072 E000500 -40
072 F000500 0
072 G000500 6
072 H000500 0
072 I000500 6
072 J000500 0
072 K000500 0
072 L000500 0
072 M000500 0
072 N000500 0
072 O000500 0
072 P000500 0
072 Q000500 5
072 R000500 5
<PAGE> PAGE 28
072 S000500 0
072 T000500 0
072 U000500 2
072 V000500 0
072 W000500 1
072 X000500 25
072 Y000500 15
072 Z000500 -1
072AA000500 100
072BB000500 0
072CC010500 0
072CC020500 558
072DD010500 5
072DD020500 0
072EE000500 0
073 A010500 0.0100
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 0
074 B000500 0
074 C000500 0
074 D000500 0
074 E000500 0
074 F000500 0
074 G000500 0
074 H000500 0
074 I000500 6988
074 J000500 0
074 K000500 0
074 L000500 0
074 M000500 13
074 N000500 7001
074 O000500 0
074 P000500 0
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 11
074 S000500 0
074 T000500 6990
074 U010500 748
074 U020500 0
074 V010500 9.35
074 V020500 0.00
074 W000500 0.0000
074 X000500 3
074 Y000500 0
075 A000500 0
075 B000500 0
<PAGE> PAGE 29
076 000500 0.00
SIGNATURE RICHARD BUTT
TITLE OPERATIONS
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM SCHRODER
CAPITAL FUNDS (DELAWARE) SEMI-ANNUAL REPORT DATED APRIL 30, 1997 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH REPORT
</LEGEND>
<CIK> 0000019532
<NAME> SCHRODER CAPITAL FUNDS, INC.
<SERIES>
<NUMBER> 040
<NAME> SCHRODER EMERGING MARKETS INSTITUTIONAL PORTFOLIO (FUND)
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-END> APR-30-1997
<INVESTMENTS-AT-COST> 197,956,640
<INVESTMENTS-AT-VALUE> 232,619,185
<RECEIVABLES> 39,939
<ASSETS-OTHER> 17,533
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 232,676,657
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 43,954
<TOTAL-LIABILITIES> 43,954
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 208,965,571
<SHARES-COMMON-STOCK> 16,939,211
<SHARES-COMMON-PRIOR> 15,153,374
<ACCUMULATED-NII-CURRENT> (1,297)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (10,192,363)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 33,860,792
<NET-ASSETS> 232,632,703
<DIVIDEND-INCOME> 1,839,773
<INTEREST-INCOME> 217,336
<OTHER-INCOME> (1,875,839)
<EXPENSES-NET> 173,995
<NET-INVESTMENT-INCOME> 7,275
<REALIZED-GAINS-CURRENT> (3,490,410)
<APPREC-INCREASE-CURRENT> 32,186,438
<NET-CHANGE-FROM-OPS> 28,703,303
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 150,511
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 25,532,978
<NUMBER-OF-SHARES-REDEEMED> 5,048,000
<SHARES-REINVESTED> 87,690
<NET-CHANGE-IN-ASSETS> 65,062,653
<ACCUMULATED-NII-PRIOR> 152,823
<ACCUMULATED-GAINS-PRIOR> (6,701,953)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 195,987
<AVERAGE-NET-ASSETS> 194,250,498
<PER-SHARE-NAV-BEGIN> 11.06
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 1.72
<PER-SHARE-DIVIDEND> .01
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.77
<EXPENSE-RATIO> 1.54
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM SCHRODER
CAPITAL FUNDS (DELAWARE) SEMI-ANNUAL REPORT DATED APRIL 30, 1997 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH REPORT
</LEGEND>
<CIK> 0000019532
<NAME> SCHRODER CAPITAL FUNDS, INC.
<SERIES>
<NUMBER> 040
<NAME> SCHRODER EMERGING MARKETS INSTITUTIONAL PORTFOLIO (FUND)
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-END> APR-30-1997
<INVESTMENTS-AT-COST> 197,956,640
<INVESTMENTS-AT-VALUE> 232,619,185
<RECEIVABLES> 39,939
<ASSETS-OTHER> 17,533
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 232,676,657
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 43,954
<TOTAL-LIABILITIES> 43,954
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 208,965,571
<SHARES-COMMON-STOCK> 1,368,268
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (1,297)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (10,192,363)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 33,860,792
<NET-ASSETS> 232,632,703
<DIVIDEND-INCOME> 1,839,773
<INTEREST-INCOME> 217,336
<OTHER-INCOME> (1,875,839)
<EXPENSES-NET> 173,995
<NET-INVESTMENT-INCOME> 7,275
<REALIZED-GAINS-CURRENT> (3,490,410)
<APPREC-INCREASE-CURRENT> 32,186,438
<NET-CHANGE-FROM-OPS> 28,703,303
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 10,884
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 15,937,193
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 10,884
<NET-CHANGE-IN-ASSETS> 65,062,653
<ACCUMULATED-NII-PRIOR> 152,823
<ACCUMULATED-GAINS-PRIOR> (6,701,953)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 195,987
<AVERAGE-NET-ASSETS> 14,689,083
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> (.64)
<PER-SHARE-DIVIDEND> .01
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.35
<EXPENSE-RATIO> 1.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM SCHRODER
CAPITAL FUNDS (DELAWARE) SEMI-ANNUAL REPORT DATED APRIL 30, 1997 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH REPORT.
</LEGEND>
<CIK> 0000019532
<NAME> SCHRODER CAPITAL FUNDS, INC.
<SERIES>
<NUMBER> 020
<NAME> SCHRODER INTERNATIONAL FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-END> APR-30-1997
<INVESTMENTS-AT-COST> 155,902,047
<INVESTMENTS-AT-VALUE> 189,128,725
<RECEIVABLES> 1,200,090
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 190,328,815
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 208,823
<TOTAL-LIABILITIES> 208,823
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 147,501,033
<SHARES-COMMON-STOCK> 10,541,225
<SHARES-COMMON-PRIOR> 10,134,012
<ACCUMULATED-NII-CURRENT> 239,541
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 9,152,740
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 33,226,678
<NET-ASSETS> 190,119,992
<DIVIDEND-INCOME> 1,235,169
<INTEREST-INCOME> 123,752
<OTHER-INCOME> (718,244)
<EXPENSES-NET> 228,936
<NET-INVESTMENT-INCOME> 411,741
<REALIZED-GAINS-CURRENT> 9,180,573
<APPREC-INCREASE-CURRENT> 2,236,420
<NET-CHANGE-FROM-OPS> 11,828,734
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4,570,768
<DISTRIBUTIONS-OF-GAINS> 26,130,027
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 31,417,639
<NUMBER-OF-SHARES-REDEEMED> 42,892,722
<SHARES-REINVESTED> 17,731,934
<NET-CHANGE-IN-ASSETS> (12,615,210)
<ACCUMULATED-NII-PRIOR> 4,398,568
<ACCUMULATED-GAINS-PRIOR> 26,102,194
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 274,760
<AVERAGE-NET-ASSETS> 192,508,016
<PER-SHARE-NAV-BEGIN> 20.01
<PER-SHARE-NII> .05
<PER-SHARE-GAIN-APPREC> 1.07
<PER-SHARE-DIVIDEND> .46
<PER-SHARE-DISTRIBUTIONS> 2.63
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 18.04
<EXPENSE-RATIO> .99
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM SCHRODER
CAPITAL FUNDS (DELAWARE) SEMI-ANNUAL REPORT DATED APRIL 30, 1997 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH REPORT
</LEGEND>
<CIK> 0000019532
<NAME> SCHRODER CAPITAL FUNDS, INC.
<SERIES>
<NUMBER> 050
<NAME> SCHRODER INTERNATIONAL SMALLER COMPANIES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-END> APR-30-1997
<INVESTMENTS-AT-COST> 7,545,638
<INVESTMENTS-AT-VALUE> 6,987,844
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 13,599
<TOTAL-ASSETS> 7,001,443
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 11,286
<TOTAL-LIABILITIES> 11,286
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,454,784
<SHARES-COMMON-STOCK> 747,540
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (7,149)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 100,316
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (557,794)
<NET-ASSETS> 6,990,157
<DIVIDEND-INCOME> 34,670
<INTEREST-INCOME> 14,069
<OTHER-INCOME> (40,368)
<EXPENSES-NET> 10,093
<NET-INVESTMENT-INCOME> (1,722)
<REALIZED-GAINS-CURRENT> 100,316
<APPREC-INCREASE-CURRENT> (557,794)
<NET-CHANGE-FROM-OPS> (459,200)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 5,427
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,454,784
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 6,990,157
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 24,803
<AVERAGE-NET-ASSETS> 6,932,895
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> (.64)
<PER-SHARE-DIVIDEND> .01
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.35
<EXPENSE-RATIO> 1.47
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM SCHRODER
CAPITAL FUNDS (DELAWARE) SEMI-ANNUAL REPORT DATED APRIL 30, 1997 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH REPORT
</LEGEND>
<CIK> 0000019532
<NAME> SCHRODER CAPITAL FUNDS, INC.
<SERIES>
<NUMBER> 010
<NAME> SCHRODER U.S. EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-END> APR-30-1997
<INVESTMENTS-AT-COST> 10,613,810
<INVESTMENTS-AT-VALUE> 13,853,141
<RECEIVABLES> 558,327
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 14,411,468
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 22,906
<TOTAL-LIABILITIES> 22,906
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 8,323,704
<SHARES-COMMON-STOCK> 1,664,106
<SHARES-COMMON-PRIOR> 1,761,071
<ACCUMULATED-NII-CURRENT> 7,153
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,818,374
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,239,331
<NET-ASSETS> 14,338,562
<DIVIDEND-INCOME> 113,506
<INTEREST-INCOME> 8,208
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 7,152
<REALIZED-GAINS-CURRENT> 2,818,374
<APPREC-INCREASE-CURRENT> (751,728)
<NET-CHANGE-FROM-OPS> 2,073,798
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 41,185
<DISTRIBUTIONS-OF-GAINS> 3,648,560
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 106,592
<NUMBER-OF-SHARES-REDEEMED> 3,973,098
<SHARES-REINVESTED> 2,684,379
<NET-CHANGE-IN-ASSETS> (2,798,074)
<ACCUMULATED-NII-PRIOR> 41,186
<ACCUMULATED-GAINS-PRIOR> 3,648,560
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 61,190
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 122,721
<AVERAGE-NET-ASSETS> 16,452,561
<PER-SHARE-NAV-BEGIN> 9.76
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 1.02
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 2.13
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.65
<EXPENSE-RATIO> 1.40
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM SCHRODER
CAPITAL FUNDS (DELAWARE) SEMI-ANNUAL REPORT DATED APRIL 30, 1997 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH REPORT
</LEGEND>
<CIK> 0000019532
<NAME> SCHRODER CAPITAL FUNDS, INC.
<SERIES>
<NUMBER> 030
<NAME> SCHRODER U.S. SMALLER COMPANIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-END> APR-30-1997
<INVESTMENTS-AT-COST> 18,172,166
<INVESTMENTS-AT-VALUE> 19,738,693
<RECEIVABLES> 12,000
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 7,119
<TOTAL-ASSETS> 19,757,812
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 31,398
<TOTAL-LIABILITIES> 31,398
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 16,839,816
<SHARES-COMMON-STOCK> 1,654,123
<SHARES-COMMON-PRIOR> 797,795
<ACCUMULATED-NII-CURRENT> (29,905)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,349,976
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,566,527
<NET-ASSETS> 19,726,414
<DIVIDEND-INCOME> 63,483
<INTEREST-INCOME> 26,571
<OTHER-INCOME> (68,138)
<EXPENSES-NET> 51,821
<NET-INVESTMENT-INCOME> (29,905)
<REALIZED-GAINS-CURRENT> 1,537,280
<APPREC-INCREASE-CURRENT> (1,266,966)
<NET-CHANGE-FROM-OPS> 240,409
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 4,517,569
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10,667,572
<NUMBER-OF-SHARES-REDEEMED> 4,023,839
<SHARES-REINVESTED> 3,516,999
<NET-CHANGE-IN-ASSETS> 5,983,859
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 4,330,265
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 78,256
<AVERAGE-NET-ASSETS> 16,199,185
<PER-SHARE-NAV-BEGIN> 17.23
<PER-SHARE-NII> (.02)
<PER-SHARE-GAIN-APPREC> .49
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 5.83
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.87
<EXPENSE-RATIO> 1.49
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM SCHRODER
CAPITAL FUNDS (DELAWARE) SEMI-ANNUAL REPORT DATED APRIL 30, 1997 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH REPORT
</LEGEND>
<CIK> 0000019532
<NAME> SCHRODER CAPITAL FUNDS, INC.
<SERIES>
<NUMBER> 031
<NAME> SCHRODER U.S. SMALLER COMPANIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-END> APR-30-1997
<INVESTMENTS-AT-COST> 18,172,166
<INVESTMENTS-AT-VALUE> 19,738,693
<RECEIVABLES> 12,000
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 7,119
<TOTAL-ASSETS> 19,757,812
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 31,398
<TOTAL-LIABILITIES> 31,398
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 16,839,816
<SHARES-COMMON-STOCK> 8,179
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (29,905)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,349,976
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,566,527
<NET-ASSETS> 19,726,414
<DIVIDEND-INCOME> 63,483
<INTEREST-INCOME> 26,571
<OTHER-INCOME> (68,138)
<EXPENSES-NET> 51,821
<NET-INVESTMENT-INCOME> (29,905)
<REALIZED-GAINS-CURRENT> 1,537,280
<APPREC-INCREASE-CURRENT> (1,266,966)
<NET-CHANGE-FROM-OPS> 240,409
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 123,171
<NUMBER-OF-SHARES-REDEEMED> 22,884
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 5,983,859
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 4,330,265
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 78,256
<AVERAGE-NET-ASSETS> 53,910
<PER-SHARE-NAV-BEGIN> 11.89
<PER-SHARE-NII> (.01)
<PER-SHARE-GAIN-APPREC> (.03)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.85
<EXPENSE-RATIO> 1.74
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
