<PAGE> PAGE 1
000 A000000 06/30/96
000 C000000 0000002646
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 AETNA INCOME SHARES
001 B000000 811-2361
001 C000000 2032738902
002 A000000 151 FARMINGTON AVENUE
002 B000000 HARTFORD
002 C000000 CT
002 D010000 06156
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 AETNA LIFE INSURANCE AND ANNUITY COMPANY
008 B000001 A
008 C000001 801-12643
008 D010001 HARTFORD
008 D020001 CT
008 D030001 06156
010 A000001 AETNA LIFE INSURANCE AND ANNUITY COMPANY
010 C010001 HARTFORD
010 C020001 CT
010 C030001 06156
011 A000001 AETNA LIFE INSURANCE AND ANNUITY COMPANY
011 B000001 8-13256
011 C010001 HARTFORD
011 C020001 CT
011 C030001 06156
012 A000001 FIRSTAR TRUST COMPANY
012 B000001 84-0000
012 C010001 MILWAUKEE
012 C020001 WI
<PAGE> PAGE 2
012 C030001 53201
012 C040001 0701
013 A000001 KPMG PEAT MARWICK LLP
013 B010001 BOSTON
013 B020001 MA
013 B030001 02110
013 B040001 2371
014 A000001 AETNA LIFE INSURANCE AND ANNUITY COMPANY
014 B000001 8-15409
014 A000002 AETNA INVESTMENT SERVICES, INC.
014 B000002 8-46451
014 A000003 SYSTEMATIZED BENEFITS ADMINISTRATORS, INC.
014 B000003 8-37340
014 A000004 AELTUS CAPITAL, INC.
014 B000004 8-41464
014 A000005 AETNA FINANCIAL SERVICES, INC.
014 B000005 8-19393
015 A000001 MELLON BANK NA
015 B000001 C
015 C010001 PITTSBURGH
015 C020001 PA
015 C030001 15258
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 8
019 C000000 AETNALIFEI
020 A000001 LEHMAN BROTHERS, INC
020 C000001 3622
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 3622
022 A000001 LEHMAN BROTHERS, INC.
022 C000001 3049419
022 D000001 37023
022 A000002 GOLDMAN SACHS & CO.
022 C000002 948323
022 D000002 0
022 A000003 CITICORP
022 C000003 650766
022 D000003 0
022 A000004 FIRST BOSTON CORP.
022 C000004 621815
022 D000004 20872
<PAGE> PAGE 3
022 A000005 MERRILL LYNCH
022 C000005 399987
022 D000005 25416
022 A000006 NATIONSBANK
022 C000006 246621
022 D000006 0
022 A000007 J.P. MORGAN & CO.
022 C000007 146054
022 D000007 24503
022 A000008 CITIBANK
022 C000008 120330
022 D000008 0
022 A000009 UNION BANK OF SWITZERLAND
022 C000009 84976
022 D000009 62749
022 A000010 BANKERS TRUST COMPANY
022 C000010 41059
022 D000010 4925
023 C000000 6439076
023 D000000 254403
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 2063
028 A020000 0
028 A030000 0
028 A040000 3590
028 B010000 3498
028 B020000 0
028 B030000 0
028 B040000 4909
028 C010000 2618
028 C020000 0
028 C030000 0
028 C040000 3363
<PAGE> PAGE 4
028 D010000 7920
028 D020000 0
028 D030000 0
028 D040000 1096
028 E010000 7879
028 E020000 0
028 E030000 0
028 E040000 58
028 F010000 3917
028 F020000 0
028 F030000 0
028 F040000 831
028 G010000 27895
028 G020000 0
028 G030000 0
028 G040000 13847
028 H000000 0
029 000000 N
030 A000000 0
030 B000000 0.00
030 C000000 0.00
031 A000000 0
031 B000000 0
032 000000 0
033 000000 0
034 000000 N
035 000000 0
036 B000000 0
037 000000 N
038 000000 0
039 000000 Y
040 000000 N
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 0
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.250
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
<PAGE> PAGE 5
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 Y
054 E000000 Y
054 F000000 Y
054 G000000 Y
054 H000000 Y
054 I000000 Y
054 J000000 Y
054 K000000 Y
054 L000000 Y
054 M000000 Y
054 N000000 Y
055 A000000 N
055 B000000 N
056 000000 N
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 0
062 A000000 Y
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
<PAGE> PAGE 6
062 G000000 0.0
062 H000000 0.0
062 I000000 23.1
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 20.7
062 N000000 15.7
062 O000000 0.0
062 P000000 40.5
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 3.9
064 A000000 N
064 B000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 N
070 B010000 N
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 N
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 N
070 N010000 N
070 N020000 N
070 O010000 Y
070 O020000 N
<PAGE> PAGE 7
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 259841
071 B000000 256513
071 C000000 543575
071 D000000 47
072 A000000 6
072 B000000 22296
072 C000000 27
072 D000000 0
072 E000000 0
072 F000000 811
072 G000000 219
072 H000000 0
072 I000000 0
072 J000000 0
072 K000000 0
072 L000000 50
072 M000000 0
072 N000000 0
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 0
072 S000000 0
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 1
072 X000000 1081
072 Y000000 0
072 Z000000 21242
072AA000000 1636
072BB000000 0
072CC010000 0
072CC020000 29562
072DD010000 0
072DD020000 0
072EE000000 0
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 1
074 B000000 0
074 C000000 148855
074 D000000 514310
<PAGE> PAGE 8
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 9553
074 K000000 0
074 L000000 8782
074 M000000 0
074 N000000 681501
074 O000000 37346
074 P000000 122
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 143
074 S000000 0
074 T000000 643890
074 U010000 50010
074 U020000 0
074 V010000 12.88
074 V020000 0.00
074 W000000 0.0000
074 X000000 384
074 Y000000 0
075 A000000 0
075 B000000 656132
076 000000 0.00
077 A000000 Y
077 B000000 N
077 C000000 Y
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
078 000000 N
SIGNATURE SUSAN E. BRYANT
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000002646
<NAME> AETNA INCOME SHARES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 661,797,092
<INVESTMENTS-AT-VALUE> 663,165,491
<RECEIVABLES> 18,335,391
<ASSETS-OTHER> 632
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 681,501,514
<PAYABLE-FOR-SECURITIES> 37,346,154
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 264,901
<TOTAL-LIABILITIES> 37,611,055
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 633,436,968
<SHARES-COMMON-STOCK> 50,010,090
<SHARES-COMMON-PRIOR> 51,297,679
<ACCUMULATED-NII-CURRENT> 21,125,681
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (12,040,589)
<ACCUM-APPREC-OR-DEPREC> 1,368,399
<NET-ASSETS> 643,890,459
<DIVIDEND-INCOME> 27,167
<INTEREST-INCOME> 22,296,228
<OTHER-INCOME> 0
<EXPENSES-NET> (1,080,933)
<NET-INVESTMENT-INCOME> 21,242,462
<REALIZED-GAINS-CURRENT> 1,635,707
<APPREC-INCREASE-CURRENT> (29,562,591)
<NET-CHANGE-FROM-OPS> (6,684,422)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,076,632
<NUMBER-OF-SHARES-REDEEMED> (2,364,221)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (23,070,030)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (116,781)
<OVERDIST-NET-GAINS-PRIOR> (13,676,296)
<GROSS-ADVISORY-FEES> 811,274
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,080,933
<AVERAGE-NET-ASSETS> 656,131,798
<PER-SHARE-NAV-BEGIN> 13.001
<PER-SHARE-NII> 0.416
<PER-SHARE-GAIN-APPREC> (0.542)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.875
<EXPENSE-RATIO> 0.33
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
AETNA INCOME SHARES
File No. 811-2361
Attachment for the period ending June 30,1996 (Item 77c)
(a) The Special Meeting of the Shareholders of Aetna Income
Shares Fund ("the Fund") was held on June 17, 1996.
(b) At the meeting, the following Directors were elected:
Morton Ehrlich
Maria T. Fighetti
David L. Grove
Timothy A. Holt
Daniel P. Kearney
Sidney Koch
Shaun P. Mathews
Corine T. Norgaard
Richard G. Scheide
(c) Shareholders were asked to vote on the following proposals:
1) To elect nine Directors to serve until their successors are elected
and qualified.
AFFIRMATIVE VOTES NEGATIVE VOTES
Morton Ehrlich 37,916,951.599 1,263,478.898
Maria T. Fighetti 37,799,689.174 1,380,741.323
David L. Grove 37,623,552.927 1,556,877.570
Timothy A. Holt 37,901,688.456 1,278,742.041
Daniel P. Kearney 37,872,659.116 1,307,771.381
Sidney Koch 37,939,126.752 1,241,303.745
Shaun P. Mathews 37,904,971.874 1,275,458.623
Corine T. Norgaard 37,705,586.943 1,474,843.554
Richard G. Scheide 37,931,383.890 1,249,046.607
2) Approve or disapprove a Subadvisory Agreement among the Fund,
Aetna Life Insurance and Annuity Company ("Aetna"), and Aetna's
affiliate, Aeltus Investment Management, Inc.
AFFIRMATIVE VOTES NEGATIVE VOTES
34,324,419.711 3,117,166.422
3) Approve or disapprove a new Investment Advisory Agreement between
the Fund and Aetna, the Fund's current investment adviser.
AFFIRMATIVE VOTES NEGATIVE VOTES
32,469,943.616 4,960,684.026
4) Approve or disapprove an amendment to the Fund's Declaration of
Trust to modify the Fund's liability and indemnification provisions.
AFFIRMATIVE VOTES NEGATIVE VOTES
34,236,869.363 2,960,541.368
