INVESCO CAPITAL APPRECIATION FUNDS INC
NSAR-B, 1998-06-29
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<PAGE>      PAGE  1
000 B000000 04/30/98
000 C000000 000035692
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 CAPITAL APPRECIATION FUNDS, INC
001 B000000 811-1474
001 C000000 3039306300
002 A000000 7800 EAST 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 Y
007 B000000  1
007 C010100  1
007 C020100 INVESCO DYNAMICS FUND
007 C030100 N
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
020 A000001 MERRILL LYNCH PIERCE FENNER & SMITH
020 B000001 13-5674085
020 C000001   1035
020 A000002 GOLDMAN SACHS
020 B000002 13-5108880
020 C000002    872
020 A000003 SALOMON SMITH BARNEY
020 B000003 22-1660266
020 C000003    397
020 A000004 MORGAN STANLEY & CO., INC
020 B000004 13-2655998
020 C000004    390
020 A000005 BT ALEX BROWN & SONS
020 B000005 52-0256630
020 C000005    304
020 A000006 NATIONSBANC/MONTGOMERY SEC
020 B000006 56-1684171
<PAGE>      PAGE  2
020 C000006    249
020 A000007 BEAR STEARNS
020 B000007 13-3604093
020 C000007    191
020 A000008 LEHMAN BROTHERS
020 B000008 13-2518466
020 C000008    158
020 A000009 COWEN & COMPANY
020 B000009 13-5616116
020 C000009    157
020 A000010 FIRST BOSTON CORP
020 B000010 13-5659485
020 C000010    148
021  000000     6927
022 A000001 STATE STREET BANK & TRUST
022 B000001 04-1867445
022 C000001    510586
022 D000001         0
022 A000002 GOLDMAN SACHS
022 B000002 13-5108880
022 C000002    130269
022 D000002    117608
022 A000003 MORGAN STANLEY & CO., INC
022 B000003 13-2655998
022 C000003     99557
022 D000003     70111
022 A000004 MERRILL LYNCH FENNER & PIERCE
022 B000004 13-5674085
022 C000004    159997
022 D000004     43039
022 A000005 DONALDSON LUFKIN & JENRET
022 B000005 13-2741729
022 C000005      9797
022 D000005     80974
022 A000006 TROSTER SINGER CORP
022 B000006 13-2901399
022 C000006     57569
022 D000006     28366
022 A000007 BEAR STEARNS SECURITIES
022 B000007 13-3604093
022 C000007     57618
022 D000007     25483
022 A000008 FIRST BOSTON CORPORATION
022 B000008 13-5659485
022 C000008     39282
022 D000008     32002
022 A000009 RAYMOND JAMES & ASSOC
022 B000009 59-1237041
022 C000009     32302
022 D000009     34418
022 A000010 SALOMON SMITH BARNEY
<PAGE>      PAGE  3
022 B000010 22-1660266
022 C000010     42373
022 D000010     19790
023 C000000    8884131
023 D000000     768532
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
077 A000000 Y
077 B000000 Y
077 C000000 N
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
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078  000000 N
080 A00AA00 FEDERAL INSURANCE COMPANY
080 C00AA00    30000
081 A00AA00 Y
081 B00AA00  70
082 A00AA00 N
082 B00AA00        0
083 A00AA00 N
083 B00AA00        0
084 A00AA00 N
084 B00AA00        0
085 A00AA00 Y
085 B00AA00 N
086 A010000      0
086 A020000      0
086 B010000      0
086 B020000      0
<PAGE>      PAGE  4
086 C010000      0
086 C020000      0
086 D010000      0
086 D020000      0
086 E010000      0
086 E020000      0
086 F010000      0
086 F020000      0
008 A000101 INVESCO FUNDS GROUP, INC.
008 B000101 A
008 C000101 801-1569
008 D010101 DENVER
008 D020101 CO
008 D030101 80237
008 A000102 DELETE
010 A000101 INVESCO FUNDS GROUP, INC.
010 B000101 801-1569
010 C010101 DENVER
010 C020101 CO
010 C030101 80237
011 A000101 INVESCO DISTRIBUTORS, INC.
011 B000101 8-02856
011 C010101 DENVER
011 C020101 CO
011 C030101 80237
012 A000101 INVESCO FUNDS GROUP, INC.
012 B000101 84-0235630
012 C010101 DENVER
012 C020101 CO
012 C030101 80237
013 A000101 PRICE WATERHOUSE LLP
013 B010101 DENVER
013 B020101 CO
013 B030101 80202
015 A000101 STATE STREET BANK AND TRUST COMPANY
015 B000101 C
015 C010101 BOSTON
015 C020101 MA
015 C030101 02105
015 E010101 X
015 A000102 WESTPACK BANKING CORP
015 B000102 S
015 C010102 SYDNEY
015 D010102 AUSTRALIA
015 E040102 X
015 A000103 CITIBANK, N.A.
015 B000103 S
015 C010103 BUENOS AIRES
015 D010103 ARGENTINA
015 E040103 X
015 A000104 CITIBANK, N.A.
<PAGE>      PAGE  5
015 B000104 S
015 C010104 SAO PAULO
015 D010104 BRAZIL
015 E040104 X
015 A000105 HONG KONG & SHANGHAI BANKING CORP. LTD.
015 B000105 S
015 C010105 SHANGHAI
015 D010105 CHINA
015 E040105 X
015 A000106 BERLINER HANDELS UND FRANKFURTER BANK
015 B000106 S
015 C010106 FRANKFURT
015 D010106 GERMANY
015 E040106 X
015 A000107 STANDARD CHARTERED BANK
015 B000107 S
015 C010107 HONG KONG
015 D010107 CHINA
015 E040107 X
015 A000108 STANDARD CHARTERED BANK PLC
015 B000108 S
015 C010108 JAKARTA
015 D010108 INDONESIA
015 E040108 X
015 A000109 THE SUMITOMO TRUST AND BANKING CO. LTD.
015 B000109 S
015 C010109 TOKYO
015 D010109 JAPAN
015 E040109 X
015 A000110 STANDARD CHARTERED BANK MALAYSIA BERHAD
015 B000110 S
015 C010110 KUALA LUMPUR
015 D010110 MALAYSIA
015 E040110 X
015 A000111 CITIBANK MEXICO S.A.
015 B000111 S
015 C010111 MEXICO CITY
015 D010111 MEXICO
015 E040111 X
015 A000112 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD.
015 B000112 S
015 C010112 WELLINGTON
015 D010112 NEW ZEALAND
015 E040112 X
015 A000113 STANDARD CHARTERED BANK PLC
015 B000113 S
015 C010113 MANILA
015 D010113 PHILIPPINES
015 E040113 X
015 A000114 THE DEVELOPMENT BANK OF SINGAPORE LTD.
015 B000114 S
<PAGE>      PAGE  6
015 C010114 SINGAPORE
015 D010114 SINGAPORE
015 E040114 X
015 A000115 LOMBARD ODIER ET CIE
015 B000115 S
015 C010115 GENEVA
015 D010115 SWITZERLAND
015 E040115 X
015 A000116 STANDARD CHARTERED BANK
015 B000116 S
015 C010116 BANGKOK
015 D010116 THAILAND
015 E040116 X
015 A000117 SEOULBANK
015 B000117 S
015 C010117 SEOUL
015 D010117 KOREA
015 E040117 X
015 A000118 MAESPIERSON N.V.
015 B000118 S
015 C010118 AMSTERDAM
015 D010118 NETHERLANDS
015 E040118 X
015 A000119 SKANDINAVISKA ENSKILDA BANKEN
015 B000119 S
015 C010119 STOCKHOLM
015 D010119 SWEDEN
015 E040119 X
015 A000120 STATE STREET BANK & TRUST COMPANY
015 B000120 S
015 C010120 LONDON
015 D010120 UNITED KINGDOM
015 E040120 X
015 A000121 BANQUE PARIBAS
015 B000121 S
015 C010121 PARIS
015 D010121 FRANCE
015 E040121 X
018  000100 Y
019 A000100 Y
019 B000100   46
019 C000100 INVESCOFUN
024  000100 Y
025 A000101 STATE STREET BANK & TRUST
025 B000101 04-1867445
025 C000101 D
025 D000101   53395
025 A000102 BEAR STEARNS
025 B000102 13-3604093
025 C000102 E
025 D000102   10557
<PAGE>      PAGE  7
025 A000103 LEHMAN BROTHERS HOLDINGS
025 B000103 13-2518466
025 C000103 E
025 D000103    8883
025 A000104 STATE STREET
025 B000104 04-1867445
025 C000104 E
025 D000104    8938
025 D000105       0
025 D000106       0
025 D000107       0
025 D000108       0
028 A010100     73580
028 A020100         0
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028 B030100         0
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028 C020100         0
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028 D020100         0
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028 E010100    110841
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028 F040100    133633
028 G010100    656832
028 G020100    130728
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028 H000100         0
029  000100 N
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030 B000100  0.00
030 C000100  0.00
031 A000100      0
031 B000100      0
032  000100      0
033  000100      0
034  000100 N
035  000100      0
<PAGE>      PAGE  8
036 B000100      0
037  000100 N
038  000100      0
039  000100 N
040  000100 Y
041  000100 Y
042 A000100   5
042 B000100  13
042 C000100   0
042 D000100  62
042 E000100   0
042 F000100   0
042 G000100  20
042 H000100   0
043  000100   2558
044  000100    148
045  000100 Y
046  000100 N
047  000100 Y
048  000100  0.000
048 A010100   350000
048 A020100 0.600
048 B010100   350000
048 B020100 0.550
048 C010100        0
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048 J010100        0
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048 K010100   700000
048 K020100 0.500
049  000100 N
050  000100 N
051  000100 N
052  000100 N
053 A000100 Y
053 B000100 Y
054 A000100 Y
054 B000100 N
054 C000100 N
<PAGE>      PAGE  9
054 D000100 N
054 E000100 N
054 F000100 N
054 G000100 N
054 H000100 Y
054 I000100 N
054 J000100 Y
054 K000100 N
054 L000100 N
054 M000100 Y
054 N000100 N
054 O000100 N
055 A000100 Y
055 B000100 N
056  000100 N
057  000100 N
058 A000100 N
059  000100 Y
060 A000100 Y
060 B000100 Y
061  000100     1000
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
062 H000100   0.0
062 I000100   0.0
062 J000100   0.0
062 K000100   0.0
062 L000100   0.0
062 M000100   0.0
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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 Y
066 C000100 N
066 D000100 N
066 E000100 N
066 F000100 N
066 G000100 N
067  000100 N
068 A000100 N
068 B000100 N
<PAGE>      PAGE  10
069  000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 Y
070 N010100 Y
070 N020100 N
070 O010100 Y
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070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100   1962394
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<PAGE>      PAGE  11
072 K000100       69
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<PAGE>      PAGE  12
074 U020100        0
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SIGNATURE   JUDY P. WIESE                                
TITLE       VICE PRESIDENT      
 


<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 1
   <NAME> INVESCO DYNAMICS FUND
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          APR-30-1998
<PERIOD-END>                               APR-30-1998
<INVESTMENTS-AT-COST>                       1101925522
<INVESTMENTS-AT-VALUE>                      1355213630
<RECEIVABLES>                                 44355602
<ASSETS-OTHER>                                   89056
<OTHER-ITEMS-ASSETS>                           4854005
<TOTAL-ASSETS>                              1404512293
<PAYABLE-FOR-SECURITIES>                      55449086
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      8764363
<TOTAL-LIABILITIES>                           64213449
<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-STOCK>                         81696428
<SHARES-COMMON-PRIOR>                         63412679
<ACCUMULATED-NII-CURRENT>                      (37999)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      113702025
<OVERDISTRIBUTION-GAINS>                             0
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<OTHER-INCOME>                                 (71362)
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<NET-INVESTMENT-INCOME>                      (4623573)
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                     133519730
<DISTRIBUTIONS-OTHER>                                0
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<ACCUMULATED-NII-PRIOR>                         (9165)
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<PER-SHARE-NAV-BEGIN>                            12.02
<PER-SHARE-NII>                                 (0.05)
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</TABLE>


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