<PAGE> PAGE 1
000 A000000 10/31/96
000 C000000 0000035692
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 INVESCO DYNAMICS FUND, INC.
001 B000000 811-1474
001 C000000 3039306300
002 A000000 7800 E. UNION AVENUE
002 B000000 DENVER
002 C000000 CO
002 D010000 80237
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 INVESCO FUNDS GROUP, INC.
008 B000001 A
008 C000001 801-1569
008 D010001 DENVER
008 D020001 CO
008 D030001 80237
008 A000002 INVESCO TRUST COMPANY
008 B000002 S
008 C000002 801-12389
008 D010002 DENVER
008 D020002 CO
008 D030002 80237
010 A000001 INVESCO FUNDS GROUP, INC.
010 B000001 1569
010 C010001 DENVER
010 C020001 CO
010 C030001 80237
011 A000001 INVESCO FUNDS GROUP, INC.
011 B000001 8-02856
<PAGE> PAGE 2
011 C010001 DENVER
011 C020001 CO
011 C030001 80237
012 A000001 INVESCO FUNDS GROUP, INC.
012 B000001 84-0235630
012 C010001 DENVER
012 C020001 CO
012 C030001 80237
013 A000001 PRICE WATERHOUSE LLP
013 B010001 DENVER
013 B020001 CO
013 B030001 80202
015 A000001 STATE STREET BANK AND TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02105
015 E010001 X
015 A000002 WESTPACK BANKING CORP.
015 B000002 S
015 C010002 SYDNEY
015 D010002 AUSTRALIA
015 E040002 X
015 A000003 CITIBANK, N.A.
015 B000003 S
015 C010003 BUENOS AIRES
015 D010003 ARGENTINA
015 E040003 X
015 A000004 CITIBANK,N.A.
015 B000004 S
015 C010004 SAO PAULO
015 D010004 BRAZIL
015 E040004 X
015 A000005 HONG KONG & SHANGHAI BANKING CORP. LTD.
015 B000005 S
015 C010005 SHANGHAI
015 D010005 CHINA
015 E040005 X
015 A000006 BERLINER HANDELS UND FRANKFURTER BANK
015 B000006 S
015 C010006 FRANKFURT
015 D010006 GERMANY
015 E040006 X
015 A000007 STANDARD CHARTERED BANK
015 B000007 S
015 C010007 HONG KONG
015 D010007 HONG KONG
015 E040007 X
015 A000008 STANDARD CHARTERED BANK PLC
015 B000008 S
015 C010008 JAKARTA
<PAGE> PAGE 3
015 D010008 INDONESIA
015 E040008 X
015 A000009 THE SUMITOMO TRUST AND BANKING CO. LTD.
015 B000009 S
015 C010009 TOKYO
015 D010009 JAPAN
015 E040009 X
015 A000010 STANDARD CHARTERED BANK MALAYSIA BERHAD
015 B000010 S
015 C010010 KUALA LUMPUR
015 D010010 MALAYSIA
015 E040010 X
015 A000011 CITIBANK MEXICO S.A.
015 B000011 S
015 C010011 MEXICO CITY
015 D010011 MEXICO
015 E040011 X
015 A000012 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD.
015 B000012 S
015 C010012 WELLINGTON
015 D010012 NEW ZEALAND
015 E040012 X
015 A000013 STANDARD CHARTERED BANK PLC
015 B000013 S
015 C010013 MANILA
015 D010013 PHILIPPINES
015 E040013 X
015 A000014 THE DEVELOPMENT BANK OF SINGAPORE LTD.
015 B000014 S
015 C010014 SINGAPORE
015 D010014 SINGAPORE
015 E040014 X
015 A000015 LOMBARD ODIER ET CIE
015 B000015 S
015 C010015 GENEVA
015 D010015 SWITZERLAND
015 E040015 X
015 A000016 STANDARD CHARTERED BANK
015 B000016 S
015 C010016 BANGKOK
015 D010016 THAILAND
015 E040016 X
015 A000017 SEOULBANK
015 B000017 S
015 C010017 SEOUL
015 D010017 KOREA
015 E040017 X
015 A000018 MAESPIERSON N.V.
015 B000018 S
015 C010018 AMSTERDAM
015 D010018 NETHERLANDS
<PAGE> PAGE 4
015 E040018 X
015 A000019 SKANDINAVISKA ENSKILDA BANKEN
015 B000019 S
015 C010019 STOCKHOLM
015 D010019 SWEDEN
015 E040019 X
015 A000020 STATE STREET BANK & TRUST COMPANY
015 B000020 S
015 C010020 LONDON
015 D010020 UNITED KINGDOM
015 E040020 X
015 A000021 BANQUE PARIBAS
015 B000021 S
015 C010021 PARIS
015 D010021 FRANCE
015 E040021 X
018 000000 Y
019 A000000 Y
019 B000000 39
019 C000000 INVESCOFUN
020 A000001 GOLDMAN SACHS
020 B000001 13-5108880
020 C000001 242
020 A000002 MORGAN STANLEY
020 B000002 13-2655998
020 C000002 181
020 A000003 MERRILL LYNCH PIERCE FENNER & SMITH
020 B000003 13-5674085
020 C000003 154
020 A000004 SCHRODER WERTHEIM
020 B000004 13-2697272
020 C000004 137
020 A000005 LEHMAN BROTHERS
020 B000005 13-2518466
020 C000005 89
020 A000006 OPPENHEIMER & CO
020 B000006 13-2798343
020 C000006 79
020 A000007 PAINEWEBBER INC.
020 B000007 13-2638166
020 C000007 76
020 A000008 FURMAN SELZ MAGER DIETZ & BIRNEY
020 B000008 13-2753731
020 C000008 74
020 A000009 SALOMON BROTHERS
020 B000009 13-3082694
020 C000009 74
020 A000010 MONTGOMERY SECURITIES
020 B000010 94-1701676
020 C000010 72
021 000000 2318
<PAGE> PAGE 5
022 A000001 ASSOCIATES CORP OF NORTH AMERICA
022 B000001 74-1494554
022 C000001 1544286
022 D000001 0
022 A000002 CHEVRON OIL FINANCE
022 B000002 25-1215010
022 C000002 231105
022 D000002 0
022 A000003 AMERICAN EXPRESS CREDIT
022 B000003 11-1988350
022 C000003 198039
022 D000003 0
022 A000004 GENERAL ELECTRIC CAPITAL
022 B000004 13-1500700
022 C000004 191889
022 D000004 0
022 A000005 HOUSEHOLD FINANCE
022 B000005 36-1239445
022 C000005 156196
022 D000005 18730
022 A000006 GENERAL MOTORS ACCEPTANCE
022 B000006 38-0572512
022 C000006 132753
022 D000006 0
022 A000007 GENERAL ELECTRIC
022 B000007 14-0689340
022 C000007 109300
022 D000007 0
022 A000008 FORD FINANCIAL SERVICES
022 B000008 38-2138998
022 C000008 108285
022 D000008 0
022 A000009 MERRILL LYNCH GOVERNMENT SECURITIES/MONEY MKT
022 B000009 13-2973073
022 C000009 94042
022 D000009 0
022 A000010 SEARS ROEBUCK ACCEPTANCE
022 B000010 51-0080535
022 C000010 82110
022 D000010 0
023 C000000 3368288
023 D000000 245725
024 000000 Y
025 A000001 ASSOCIATES CORP OF NORTH AMERICA
025 B000001 74-1494554
025 C000001 D
025 D000001 10543
025 A000002 MERRILL LYNCH
025 B000002 13-5674085
025 C000002 D
025 D000002 21677
<PAGE> PAGE 6
025 A000003 DELETE
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 Y
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 71485
028 A020000 0
028 A030000 0
028 A040000 42295
028 B010000 41426
028 B020000 0
028 B030000 0
028 B040000 45976
028 C010000 50595
028 C020000 0
028 C030000 0
028 C040000 131059
028 D010000 100867
028 D020000 0
028 D030000 0
028 D040000 60741
028 E010000 110361
028 E020000 0
028 E030000 0
028 E040000 51727
028 F010000 71533
028 F020000 0
028 F030000 0
028 F040000 80193
028 G010000 446267
028 G020000 0
028 G030000 0
028 G040000 411991
028 H000000 0
029 000000 N
030 A000000 0
030 B000000 0.00
030 C000000 0.00
031 A000000 0
<PAGE> PAGE 7
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 N
040 000000 Y
041 000000 Y
042 A000000 13
042 B000000 23
042 C000000 0
042 D000000 47
042 E000000 0
042 F000000 0
042 G000000 17
042 H000000 0
043 000000 945
044 000000 115
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 350000
048 A020000 0.600
048 B010000 350000
048 B020000 0.550
048 C010000 0
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 700000
048 K020000 0.500
049 000000 N
050 000000 N
051 000000 N
052 000000 N
<PAGE> PAGE 8
053 A000000 Y
053 B000000 Y
054 A000000 Y
054 B000000 N
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 Y
055 B000000 N
056 000000 N
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 1000
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 Y
066 C000000 N
066 D000000 N
066 E000000 N
<PAGE> PAGE 9
066 F000000 N
066 G000000 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 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 Y
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 715881
071 B000000 669177
071 C000000 737456
071 D000000 91
072 A000000 6
072 B000000 1168
072 C000000 2646
072 D000000 0
072 E000000 -99
<PAGE> PAGE 10
072 F000000 2212
072 G000000 63
072 H000000 0
072 I000000 914
072 J000000 122
072 K000000 40
072 L000000 54
072 M000000 21
072 N000000 67
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 13
072 S000000 13
072 T000000 975
072 U000000 0
072 V000000 0
072 W000000 8
072 X000000 4502
072 Y000000 60
072 Z000000 -727
072AA000000 10184
072BB000000 0
072CC010000 14310
072CC020000 0
072DD010000 0
072DD020000 0
072EE000000 0
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 357
074 B000000 0
074 C000000 32233
074 D000000 0
074 E000000 7100
074 F000000 792511
074 G000000 0
074 H000000 0
074 I000000 154
074 J000000 22127
074 K000000 0
074 L000000 8029
074 M000000 141
074 N000000 862652
074 O000000 24396
074 P000000 181
074 Q000000 0
074 R010000 0
074 R020000 0
<PAGE> PAGE 11
074 R030000 0
074 R040000 1616
074 S000000 0
074 T000000 836459
074 U010000 59159
074 U020000 0
074 V010000 14.14
074 V020000 0.00
074 W000000 0.0000
074 X000000 51575
074 Y000000 0
075 A000000 0
075 B000000 779528
076 000000 0.00
077 A000000 N
078 000000 N
080 C000000 0
081 B000000 0
082 B000000 0
083 B000000 0
084 B000000 0
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
SIGNATURE JUDY WIESE
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000035692
<NAME> INVESCO DYNAMICS FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-1997
<PERIOD-END> OCT-31-1996
<INVESTMENTS-AT-COST> 735516127
<INVESTMENTS-AT-VALUE> 831843533
<RECEIVABLES> 30155911
<ASSETS-OTHER> 140701
<OTHER-ITEMS-ASSETS> 511408
<TOTAL-ASSETS> 862651553
<PAYABLE-FOR-SECURITIES> 24395663
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1796970
<TOTAL-LIABILITIES> 26192633
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 658359317
<SHARES-COMMON-STOCK> 59159482
<SHARES-COMMON-PRIOR> 57186453
<ACCUMULATED-NII-CURRENT> (726656)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 82500292
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 96325967
<NET-ASSETS> 836458920
<DIVIDEND-INCOME> 2645525
<INTEREST-INCOME> 1168195
<OTHER-INCOME> (98648)
<EXPENSES-NET> 4442158
<NET-INVESTMENT-INCOME> (727086)
<REALIZED-GAINS-CURRENT> 10184245
<APPREC-INCREASE-CURRENT> 14309686
<NET-CHANGE-FROM-OPS> 24493931
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 32908543
<NUMBER-OF-SHARES-REDEEMED> 30935514
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 58043162
<ACCUMULATED-NII-PRIOR> 430
<ACCUMULATED-GAINS-PRIOR> 72316047
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2211722
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4501949
<AVERAGE-NET-ASSETS> 779528295
<PER-SHARE-NAV-BEGIN> 13.61
<PER-SHARE-NII> (0.01)
<PER-SHARE-GAIN-APPREC> 0.54
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.14
<EXPENSE-RATIO> 1
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
