ROYCE FUND
NSAR-A, 1998-08-31
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<PAGE>      PAGE  1
000 A000000 06/30/98
000 C000000 0000709364
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 THE ROYCE FUND
001 B000000 811-3599
001 C000000 2123557311
002 A000000 1414 AVENUE OF THE AMERICAS
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10019
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007 C010200  2
007 C010300  3
007 C010400  4
007 C010500  5
007 C020500 ROYCE MICRO-CAP FUND
007 C030500 N
007 C010600  6
007 C020600 ROYCE PREMIER FUND
007 C030600 N
007 C010700  7
007 C020700 ROYCE LOW-PRICED STOCK FUND
007 C030700 N
007 C010800  8
007 C020800 ROYCE TOTAL RETURN FUND
007 C030800 N
007 C010900  9
007 C020900 REVEST GROWTH & INCOME FUND
007 C030900 N
007 C011000 10
007 C021000 ROYCE FINANCIAL SERVICES FUND
007 C031000 N
007 C011100 11
007 C021100 ROYCE GIFTSHARES FUND
007 C031100 N
007 C011200 12
007 C021200 PENNSYLVANIA MUTUAL FUND
007 C031200 N
007 C011300 13
<PAGE>      PAGE  2
007 C021300 PMFII
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007 C011400 14
007 C011500 15
007 C021500 ROYCE SPECIAL EQUITY FUND
007 C031500 N
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
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012 C02AA01 MO
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013 A00AA01 COOPERS & LYBRAND L.L.P.
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02110
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020 A000003 WILLIAM O'NEILL & CO. INC.
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020 A000005 SBC WARBURG DILLON READ & CO.
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020 A000006 JEFFERIES & COMPANY, INC.
<PAGE>      PAGE  3
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<PAGE>      PAGE  4
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
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<PAGE>      PAGE  20
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<PAGE>      PAGE  21
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<PAGE>      PAGE  23
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<PAGE>      PAGE  24
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<PAGE>      PAGE  25
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<PAGE>      PAGE  26
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<PAGE>      PAGE  27
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<PAGE>      PAGE  28
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<PAGE>      PAGE  29
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<PAGE>      PAGE  30
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<PAGE>      PAGE  31
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<PAGE>      PAGE  32
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<PAGE>      PAGE  35
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<PAGE>      PAGE  36
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<PAGE>      PAGE  37
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<PAGE>      PAGE  38
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<PAGE>      PAGE  40
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<PAGE>      PAGE  41
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<PAGE>      PAGE  42
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<PAGE>      PAGE  43
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<PAGE>      PAGE  44
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<PAGE>      PAGE  45
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<PAGE>      PAGE  46
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<PAGE>      PAGE  50
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SIGNATURE   JOHN E. DENNEEN                              
TITLE       SECRETARY           
 


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<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<RESTATED> 
<CIK> 0000709364
<NAME> THE ROYCE FUND
<SERIES>
   <NUMBER> 7
   <NAME> LOW-PRICED STOCK FUND
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<RESTATED> 
<CIK> 0000709364
<NAME> THE ROYCE FUND
<SERIES>
   <NUMBER>8 
   <NAME>TOTAL RETURN FUND 
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               JUN-30-1998
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<RESTATED> 
<CIK> 0000709364
<NAME> THE ROYCE FUND
<SERIES>
   <NUMBER> 9
   <NAME> REVEST GROWTH & INCOME FUND
       
<S>                             <C>
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<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               JUN-30-1998
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<RESTATED> 
<CIK> 0000709364
<NAME> THE ROYCE FUND
<SERIES>
   <NUMBER> 10
   <NAME> ROYCE FINANCIAL SERVICES FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<RESTATED> 
<CIK> 0000709364
<NAME> THE ROYCE FUNDS
<SERIES>
   <NUMBER>11
   <NAME>ROYCE GIFTSHARES FUND 
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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<INVESTMENTS-AT-COST>                          6566134
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<RESTATED> 
<CIK> 0000709364
<NAME> THE ROYCE FUND
<SERIES>
   <NUMBER>11 
   <NAME>ROYCE GIFTSHARES FUND CONSULTANT CLASS 
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<RESTATED> 
<CIK> 0000709364
<NAME> THE ROYCE FUND
<SERIES>
   <NUMBER>12 
   <NAME>PENNSYLVANIA MUTUAL FUND 
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               JUN-30-1998
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<RESTATED> 
<CIK> 0000709364
<NAME> THE ROYCE FUND
<SERIES>
   <NUMBER>12 
   <NAME>PENNSYLVANIA MUTUAL FUND CONSULTANT CLASS 
       
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