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015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
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015 C02AA01 MA
015 C03AA01 02110
015 E01AA01 X
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015 B00AA02 S
015 C01AA02 LONDON
015 D01AA02 ENGLAND
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015 A00AA03 SECURITY PACIFIC NATIONAL TRUST COMPANY
015 B00AA03 S
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<PAGE> PAGE 2
015 B00AA05 S
015 A00AA06 MORGAN GUARANTY TRUST COMPANY OF NEW YORK
015 B00AA06 S
015 C01AA06 NEW YORK
015 C02AA06 NY
015 C03AA06 10015
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
070 A020100 N
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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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SIGNATURE THOMAS F. MCDONOUGH
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE>6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
Managed Muncicpal Bond Semiannual Report for the period ended 6/30/97 and
is qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>1
<NAME>SCUDDER MANAGED MUNI BND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> JAN-01-1997
<PERIOD-END> JUN-30-1997
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<NUMBER-OF-SHARES-REDEEMED> (7,846,050)
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</TABLE>
<TABLE> <S> <C>
<ARTICLE>6
<LEGEND>
This schedule contains summary financial information extracted from the
Scudder High Yield T/F Semiannual Report for the period ended 6/30/97 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>2
<NAME>SCUDDER HIGH YIELD T/F
<S> <C>
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</TABLE>
