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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 5
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<PAGE> PAGE 7
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<PAGE> PAGE 12
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<PAGE> PAGE 14
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SIGNATURE JEROME L. DUFFY
TITLE TREASURER
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<LEGEND>
This schedule contains summary financial information extracted from the January
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<NAME> KEMPER MONEY MARKET FUND
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<NAME> KEMPER MONEY MARKET FUND
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<INTEREST-INCOME> 16,387
<OTHER-INCOME> 0
<EXPENSES-NET> (1,452)
<NET-INVESTMENT-INCOME> 14,935
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (14,935)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 458,073
<NUMBER-OF-SHARES-REDEEMED> (589,755)
<SHARES-REINVESTED> 13,787
<NET-CHANGE-IN-ASSETS> (117,895)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (839)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1,452)
<AVERAGE-NET-ASSETS> 622,242
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .024
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.024)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .005
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the January
31, 1995 semiannual report to shareholders and is qualified in its entirety by
reference to such financial statements.
</LEGEND>
<CIK> 0000055189
<NAME> KEMPER MONEY MARKET FUND
<SERIES>
<NUMBER> 3
<NAME> TAX-EXEMPT PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1995
<PERIOD-END> JAN-31-1995
<INVESTMENTS-AT-COST> 756,423
<INVESTMENTS-AT-VALUE> 756,423
<RECEIVABLES> 5,089
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 761,512
<PAYABLE-FOR-SECURITIES> 9,750
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,672
<TOTAL-LIABILITIES> 16,422
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 745,090
<SHARES-COMMON-STOCK> 745,090
<SHARES-COMMON-PRIOR> 792,131
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 745,090
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 14,013
<OTHER-INCOME> 0
<EXPENSES-NET> (1,593)
<NET-INVESTMENT-INCOME> 12,420
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (12,420)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 377,853
<NUMBER-OF-SHARES-REDEEMED> (436,821)
<SHARES-REINVESTED> 11,927
<NET-CHANGE-IN-ASSETS> (47,041)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (1,046)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1,593)
<AVERAGE-NET-ASSETS> 776,405
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .016
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.016)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .004
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
Exhibit 77N
Kemper Money Market Fund
Form N-SAR for the period ended 1/31/95
File No. 811-2527
On December 9, 1994, Registrant reported to the Director of the
Division of Investment Management that an event of default may have
occurred with respect to portfolio securities of the Money Market
Portfolio of Registrant issued by Orange County, California
involving more than 1/2 of 1% of the Portfolio's total assets.
Kemper Assets Holdings, Inc. (KAHI), a subsidiary of Kemper
Corporation, the parent company of Kemper Financial Services, Inc.,
Registrant's investment manager, arranged for the issuance of an
irrevocable letter of credit from the Bank of New York for the
benefit of Registrant. The letter of credit supports the payment
of principal and interest on the Orange County obligation.
Registrant and KAHI are parties to an agreement related to the
letter of credit which provides, among other things, that, in
connection with a payment of principal or interest under the letter
of credit, Registrant will transfer to KAHI any proceeds received
under the Orange County obligation.
MAM|W:\FUNDS\NSAR.EXH\KMMF395.77N|032395
