<PAGE> PAGE 1
000 A000000 03/31/99
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002 D010000 02110
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007 C020100 AARP HIGH QUALITY SHORT TERM BOND FUND
007 C030100 N
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007 C020200 AARP GNMA AND U.S. TREASURY FUND
007 C030200 N
007 C010300 3
007 C020300 AARP BOND FUND FOR INCOME
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007 C010500 5
007 C010600 6
007 C010700 7
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013 A00AA01 PRICEWATERHOUSECOOPERS LLP
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013 B02AA01 MA
013 B03AA01 02109
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 16
019 C00AA00 SCUDDDAARP
<PAGE> PAGE 2
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
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
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077 P000000 N
015 A000101 STATE STREET BANK AND TRUST COMPANY
015 B000101 C
015 C010101 BOSTON
015 C020101 MA
015 C030101 02110
015 E010101 X
015 A000102 CITIBANK, N.A.
015 B000102 S
015 C010102 BUENOS AIRES
015 D010102 ARGENTINA
015 E040102 X
015 A000103 WESTPAC BANKING CORPORATION
015 B000103 S
015 C010103 SYDNEY
015 D010103 AUSTRALIA
015 E040103 X
015 A000104 ERSTE BANK DER OESTERREICHISCHEN
015 B000104 S
015 C010104 VIENNA
015 D010104 AUSTRIA
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015 A000105 STANDARD CHARTERED BANK
015 B000105 S
015 C010105 DHAKA
015 D010105 BANGLADESH
015 E040105 X
015 A000106 GENERALE DE BANQUE
015 B000106 S
015 C010106 BRUSSELS
015 D010106 BELGIUM
015 E040106 X
<PAGE> PAGE 3
015 A000107 THE BANK OF BERMUDA LIMITED
015 B000107 S
015 C010107 HAMILTON
015 D010107 BERMUDA
015 E040107 X
015 A000108 BARCLAYS BANK OF BOTSWANA LTD.
015 B000108 S
015 C010108 GABORONE
015 D010108 BOTSWANA
015 E040108 X
015 A000109 BANKBOSTON, N.A.
015 B000109 S
015 C010109 SAO PAULO
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015 A000110 CANADA TRUSTCO MORTGAGE CORPORATION
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015 C010110 TORONTO
015 D010110 CANADA
015 E040110 X
015 A000111 CITIBANK, N.A.
015 B000111 S
015 C010111 SANTIAGO
015 D010111 CHILE
015 E040111 X
015 A000112 THE HONGKONG & SHANGHAI BANKING CO. LIMITED
015 B000112 S
015 C010112 SHANGHAI
015 D010112 CHINA
015 E040112 X
015 A000113 THE HONGKONG & SHANGHAI BANKING CO. LIMITED
015 B000113 S
015 C010113 SHENZHEN
015 D010113 CHINA
015 E040113 X
015 A000114 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B000114 S
015 C010114 BOGOTA
015 D010114 COLOMBIA
015 E040114 X
015 A000115 BARCLAYS BANK PLC CYPRUS OFFSHORE BANKING UNT
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015 C010115 NICOSIA
015 D010115 CYPRUS
015 E040115 X
015 A000116 CESKOSLOVENSKA OBCHODNI BANKA A.S.
015 B000116 S
015 C010116 PRAGUE
015 D010116 CZECH REPUBLIC
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015 A000117 DEN DANSKE BANK
<PAGE> PAGE 4
015 B000117 S
015 C010117 COPENHAGEN
015 D010117 DENMARK
015 E040117 X
015 A000118 MERITA BANK LIMITED
015 B000118 S
015 C010118 HELSINKI
015 D010118 FINLAND
015 E040118 X
015 A000119 BANQUE PARIBAS
015 B000119 S
015 C010119 PARIS
015 D010119 FRANCE
015 E040119 X
015 A000120 DRESDNER BANK
015 B000120 S
015 C010120 BERLIN
015 D010120 GERMANY
015 E040120 X
015 A000121 BARCLAYS BANK OF GHANA, LTD.
015 B000121 S
015 C010121 ACCRA
015 D010121 GHANA
015 E040121 X
015 A000122 NATIONAL BANK OF GREECE S.A.
015 B000122 S
015 C010122 ATHENS
015 D010122 GREECE
015 E040122 X
015 A000123 STANDARD CHARTERED BANK
015 B000123 S
015 C010123 HONG KONG
015 D010123 HONG KONG
015 E040123 X
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015 B000124 S
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015 D010124 HUNGARY
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015 A000125 DEUTSCHE BANK AG LIMITED
015 B000125 S
015 C010125 MUMBAI
015 D010125 INDIA
015 E040125 X
015 A000126 HONGKONG AND SHANGHAI BANKING CORPORATION LTD
015 B000126 S
015 C010126 MUMBAI
015 D010126 INDIA
015 E040126 X
015 A000127 STANDARD CHARTERED BANK
015 B000127 S
<PAGE> PAGE 5
015 C010127 JAKARTA
015 D010127 INDONESIA
015 E040127 X
015 A000128 BANK OF IRELAND
015 B000128 S
015 C010128 DUBLIN
015 D010128 IRELAND
015 E040128 X
015 A000129 BANK HAPOALIM B.M.
015 B000129 S
015 C010129 TEL AVIV
015 D010129 ISRAEL
015 E040129 X
015 A000130 BANQUE PARIBAS
015 B000130 S
015 C010130 MILAN
015 D010130 ITALY
015 E040130 X
015 A000131 THE FUJI BANK, LIMITED
015 B000131 S
015 C010131 TOKYO
015 D010131 JAPAN
015 E040131 X
015 A000132 BARCLAYS BANK OF KENYA LIMITED
015 B000132 S
015 C010132 NAIROBI
015 D010132 KENYA
015 E040132 X
015 A000133 CITIBANK, N.A.
015 B000133 S
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015 D010133 KOREA
015 E040133 X
015 A000134 STANDARD CHARTERED BANK MALAYSIA
015 B000134 S
015 C010134 KUALA LUMPUR
015 D010134 MALAYSIA
015 E040134 X
015 A000135 CITIBANK MEXICO, S.A.
015 B000135 S
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015 D010135 MEXICO
015 E040135 X
015 A000136 MEESPIERSON N.V.
015 B000136 S
015 C010136 AMSTERDAM
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015 A000137 ANZ BANKING GROUP
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015 C010137 WELLINGTON
<PAGE> PAGE 6
015 D010137 NEW ZEALAND
015 E040137 X
015 A000138 CHRISTINIA BANK OG KREDITKASSE
015 B000138 S
015 C010138 OSLO
015 D010138 NORWAY
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015 A000140 CITIBANK, N.A.
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015 A000141 STANDARD CHARTERED BANK
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015 A000145 CESKOSLOVENSKA OBCHODNA BANKA, A.S.
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<PAGE> PAGE 7
015 E040147 X
015 A000148 THE HONGKONG & SHANGHAI BANKING CORP LIMITED
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015 C010148 COLOMBO
015 D010148 SRI LANKA
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015 A000149 STANDARD BANK SWAZILAND LIMITED
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015 A000150 SKANDINAVISKA ENSKILDA BANKEN
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015 A000151 UNION BANK OF SWITZERLAND
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015 D010151 SWITZERLAND
015 E040151 X
015 A000152 CENTRAL TRUST OF CHINA
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015 C010152 TAIPEI
015 D010152 TAIWAN
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015 A000153 STANDARD CHARTERED BANK
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015 A000157 CITIBANK, N.A.
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<PAGE> PAGE 8
015 A000158 BARCLAYS BANK OF ZAMBIA LIMITED
015 B000158 S
015 C010158 LUSAKA
015 D010158 ZAMBIA
015 E040158 X
015 A000159 BARCLAYS BANK OF ZIMBABWE LIMITED
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015 C010159 HARARE
015 D010159 ZIMBABWE
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028 A010100 6640
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
070 N020200 N
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<PAGE> PAGE 14
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015 A000301 STATE STREET BANK AND TRUST COMPANY
015 B000301 C
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<PAGE> PAGE 15
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<PAGE> PAGE 16
015 E040314 X
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<PAGE> PAGE 17
015 A000325 DEUTSCHE BANK AG LIMITED
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<PAGE> PAGE 18
015 B000335 S
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015 A000339 DEUTSCHE BANK AG
015 B000339 S
015 C010339 KARACHI
015 D010339 PAKISTAN
015 E040339 X
015 A000340 CITIBANK, N.A.
015 B000340 S
015 C010340 LIMA
015 D010340 PERU
015 E040340 X
015 A000341 STANDARD CHARTERED BANK
015 B000341 S
015 C010341 MANILA
015 D010341 PHILIPPINES
015 E040341 X
015 A000342 CITIBANK (POLAND) S.A.
015 B000342 S
015 C010342 WARSAW
015 D010342 POLAND
015 E040342 X
015 A000343 BANCO COMERCIAL PORTUGUES
015 B000343 S
015 C010343 LISBON
015 D010343 PORTUGAL
015 E040343 X
015 A000344 THE DEVELOPMENT BANK OF SINGAPORE LTD
015 B000344 S
015 C010344 SINGAPORE
015 D010344 SINGAPORE
015 E040344 X
015 A000345 CESKOSLOVENSKA OBCHODNA BANKA, A.S.
015 B000345 S
<PAGE> PAGE 19
015 C010345 BRATISLAVA
015 D010345 SLOVAK REPUBLIC
015 E040345 X
015 A000346 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B000346 S
015 C010346 JOHANNESBURG
015 D010346 SOUTH AFRICA
015 E040346 X
015 A000347 BANCO SANTANDER, S.A.
015 B000347 S
015 C010347 MADRID
015 D010347 SPAIN
015 E040347 X
015 A000348 THE HONGKONG & SHANGHAI BANKING CORP LIMITED
015 B000348 S
015 C010348 COLOMBO
015 D010348 SRI LANKA
015 E040348 X
015 A000349 STANDARD BANK SWAZILAND LIMITED
015 B000349 S
015 C010349 MBABANE
015 D010349 SWAZILAND
015 E040349 X
015 A000350 SKANDINAVISKA ENSKILDA BANKEN
015 B000350 S
015 C010350 STOCKHOLM
015 D010350 SWEDEN
015 E040350 X
015 A000351 UNION BANK OF SWITZERLAND A.G.
015 B000351 S
015 C010351 ZURICH
015 D010351 SWITZERLAND
015 E040351 X
015 A000352 CENTRAL TRUST OF CHINA
015 B000352 S
015 C010352 TAIPEI
015 D010352 TAIWAN
015 E040352 X
015 A000353 STANDARD CHARTERED BANK
015 B000353 S
015 C010353 BANGKOK
015 D010353 THAILAND
015 E040353 X
015 A000354 CITIBANK, N.A.
015 B000354 S
015 C010354 ISTANBUL
015 D010354 TURKEY
015 E040354 X
015 A000355 STATE STREET BANK AND TRUST COMPANY
015 B000355 S
015 C010355 LONDON
<PAGE> PAGE 20
015 D010355 UNITED KINGDOM
015 E040355 X
015 A000356 CITIBANK, N.A.
015 B000356 S
015 C010356 MONTEVIDEO
015 D010356 URUGUAY
015 E040356 X
015 A000357 CITIBANK, N.A.
015 B000357 S
015 C010357 CARACAS
015 D010357 VENEZUELA
015 E040357 X
015 A000358 BARCLAYS BANK OF ZAMBIA LIMITED
015 B000358 S
015 C010358 LUSAKA
015 D010358 ZAMBIA
015 E040358 X
015 A000359 BARCLAYS BANK OF ZIMBABWE LIMITED
015 B000359 S
015 C010359 HARARE
015 D010359 ZIMBABWE
015 E040359 X
028 A010300 15465
028 A020300 761
028 A030300 0
028 A040300 4320
028 B010300 9141
028 B020300 0
028 B030300 0
028 B040300 5129
028 C010300 8368
028 C020300 3270
028 C030300 0
028 C040300 6048
028 D010300 12670
028 D020300 0
028 D030300 0
028 D040300 5015
028 E010300 9951
028 E020300 825
028 E030300 0
028 E040300 2743
028 F010300 12935
028 F020300 1586
028 F030300 0
028 F040300 6257
028 G010300 68530
028 G020300 6442
028 G030300 0
028 G040300 29512
028 H000300 0
<PAGE> PAGE 21
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 3.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 20.0
062 N000300 8.0
062 O000300 0.0
062 P000300 64.0
062 Q000300 5.0
062 R000300 0.0
063 A000300 0
063 B000300 9.1
064 A000300 Y
064 B000300 N
070 A010300 Y
070 A020300 Y
070 B010300 Y
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 Y
070 E020300 Y
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 Y
070 I020300 N
070 J010300 Y
070 J020300 Y
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 N
070 M010300 Y
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
<PAGE> PAGE 22
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 130250
071 B000300 77755
071 C000300 192026
071 D000300 40
072 A000300 6
072 B000300 7049
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 558
072 G000300 0
072 H000300 0
072 I000300 304
072 J000300 15
072 K000300 0
072 L000300 12
072 M000300 11
072 N000300 59
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 14
072 S000300 6
072 T000300 0
072 U000300 1
072 V000300 0
072 W000300 4
072 X000300 984
072 Y000300 649
072 Z000300 6715
072AA000300 0
072BB000300 1300
072CC010300 0
072CC020300 3922
072DD010300 6715
072DD020300 0
072EE000300 2135
073 A010300 0.5100
073 A020300 0.0000
073 B000300 0.1700
073 C000300 0.0000
074 A000300 0
074 B000300 5755
074 C000300 0
<PAGE> PAGE 23
074 D000300 211134
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 0
074 L000300 3722
074 M000300 9
074 N000300 220620
074 O000300 1663
074 P000300 0
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 415
074 S000300 0
074 T000300 218542
074 U010300 14722
074 U020300 0
074 V010300 14.84
074 V020300 0.00
074 W000300 0.0000
074 X000300 10
074 Y000300 0
075 A000300 0
075 B000300 199428
076 000300 0.00
SIGNATURE CAROLINE PEARSON
TITLE VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the AARP
High Quality Short Term Bond Fund Semiannual Report for the period ended 3/31/99
and is qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> AARP High Quality Short Term Bond Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-START> OCT-01-1998
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 431,972,654
<INVESTMENTS-AT-VALUE> 428,827,396
<RECEIVABLES> 5,152,847
<ASSETS-OTHER> 7,855
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 433,988,098
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,205,588
<TOTAL-LIABILITIES> 1,205,588
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 437,699,744
<SHARES-COMMON-STOCK> 26,916,397
<SHARES-COMMON-PRIOR> 27,254,456
<ACCUMULATED-NII-CURRENT> 240,718
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,012,694)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (3,145,258)
<NET-ASSETS> 432,782,510
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 14,030,623
<OTHER-INCOME> 0
<EXPENSES-NET> 1,973,923
<NET-INVESTMENT-INCOME> 12,056,700
<REALIZED-GAINS-CURRENT> (230,204)
<APPREC-INCREASE-CURRENT> (9,251,693)
<NET-CHANGE-FROM-OPS> 2,574,803
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (12,056,700)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 26,157,831
<NUMBER-OF-SHARES-REDEEMED> (40,115,848)
<SHARES-REINVESTED> 8,547,790
<NET-CHANGE-IN-ASSETS> (14,892,124)
<ACCUMULATED-NII-PRIOR> 240,718
<ACCUMULATED-GAINS-PRIOR> (1,782,490)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,032,774
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,973,923
<AVERAGE-NET-ASSETS> 440,096,897
<PER-SHARE-NAV-BEGIN> 16.43
<PER-SHARE-NII> 0.44
<PER-SHARE-GAIN-APPREC> (0.35)
<PER-SHARE-DIVIDEND> (0.44)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 16.08
<EXPENSE-RATIO> 0.90
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the AARP
Gnma And U.S. Treasury Fund Semiannual Report for the period ended 3/31/99 and
is qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> AARP GNMA and U.S. Treasury Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-START> OCT-01-1998
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 4,722,084,084
<INVESTMENTS-AT-VALUE> 4,717,060,336
<RECEIVABLES> 106,531,061
<ASSETS-OTHER> 1,106,328
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4,824,697,725
<PAYABLE-FOR-SECURITIES> 303,452,295
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 14,871,937
<TOTAL-LIABILITIES> 318,324,232
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,767,071,423
<SHARES-COMMON-STOCK> 299,022,155
<SHARES-COMMON-PRIOR> 298,216,939
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (255,811,858)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (4,886,072)
<NET-ASSETS> 4,506,373,493
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 156,021,640
<OTHER-INCOME> 0
<EXPENSES-NET> 14,063,715
<NET-INVESTMENT-INCOME> 141,957,925
<REALIZED-GAINS-CURRENT> (8,710,616)
<APPREC-INCREASE-CURRENT> (90,424,313)
<NET-CHANGE-FROM-OPS> 42,822,996
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (141,966,135)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 249,948,545
<NUMBER-OF-SHARES-REDEEMED> (320,979,893)
<SHARES-REINVESTED> 83,491,010
<NET-CHANGE-IN-ASSETS> (86,683,477)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (247,101,242)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 9,072,921
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 14,063,715
<AVERAGE-NET-ASSETS> 4,541,933,732
<PER-SHARE-NAV-BEGIN> 15.40
<PER-SHARE-NII> 0.48
<PER-SHARE-GAIN-APPREC> (0.33)
<PER-SHARE-DIVIDEND> (0.48)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 15.07
<EXPENSE-RATIO> 0.62
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
AARP Bond Fund For Income Semiannual Report for the fiscal year ended
3/31/99 and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> AARP Bond Fund for Income
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-START> OCT-01-1998
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 220,150,106
<INVESTMENTS-AT-VALUE> 216,889,333
<RECEIVABLES> 3,721,868
<ASSETS-OTHER> 9,514
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 220,620,715
<PAYABLE-FOR-SECURITIES> 1,663,481
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 415,253
<TOTAL-LIABILITIES> 2,078,734
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 223,209,730
<SHARES-COMMON-STOCK> 14,722,090
<SHARES-COMMON-PRIOR> 11,708,636
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,406,975)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (3,260,773)
<NET-ASSETS> 218,541,981
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7,049,498
<OTHER-INCOME> 0
<EXPENSES-NET> 334,297
<NET-INVESTMENT-INCOME> 6,715,201
<REALIZED-GAINS-CURRENT> (1,300,435)
<APPREC-INCREASE-CURRENT> (3,921,655)
<NET-CHANGE-FROM-OPS> 1,493,111
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,715,201)
<DISTRIBUTIONS-OF-GAINS> (2,134,810)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 68,529,331
<NUMBER-OF-SHARES-REDEEMED> (29,512,488)
<SHARES-REINVESTED> 6,441,411
<NET-CHANGE-IN-ASSETS> 38,101,354
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 2,028,270
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 557,491
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 983,546
<AVERAGE-NET-ASSETS> 199,427,832
<PER-SHARE-NAV-BEGIN> 15.41
<PER-SHARE-NII> 0.51
<PER-SHARE-GAIN-APPREC> (0.40)
<PER-SHARE-DIVIDEND> (0.51)
<PER-SHARE-DISTRIBUTIONS> (0.17)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.84
<EXPENSE-RATIO> 0.34
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
SHAREHOLDER MEETING RESULTS
A Special Meeting of Shareholders (the "Meeting") of the AARP funds was held on
December 15, 1998, at the office of Scudder Kemper Investments, Inc., Two
International Place, Boston, Massachusetts. At the Meeting the following matters
were voted upon by the shareholders (the resulting votes for each matter are
presented below).
1. To approve a new Investment Management Agreement for each fund with
Scudder Kemper Investments, Inc.
<TABLE>
AARP Income Trust Number of Votes:
----------------- --------------------------------------------------------
Broker
For Against Abstain Non-Votes*
--- ------- ------- ----------
<S> <C> <C> <C> <C>
AARP Bond Fund for Income 8,904,816 55,129 165,896 0
AARP GNMA and U.S. Treasury Fund 168,057,365 2,477,506 6,143,897 0
AARP High Quality Short Term Bond Fund 15,725,319 264,948 521,562 0
2. (For shareholders of AARP U.S. Stock Index Fund only.) To approve a new
subadvisory agreement for the fund between Scudder Kemper Investments,
Inc. and Bankers Trust Company.
3. To approve the new Member Services Agreement between AARP Financial
Services Corporation and Scudder Kemper Investments, Inc.
AARP Income Trust Number of Votes:
----------------- --------------------------------------------------------
Broker
For Against Abstain Non-Votes*
--- ------- ------- ----------
AARP Bond Fund for Income 8,923,391 49,634 152,816 0
AARP GNMA and U.S. Treasury Fund 167,986,934 2,231,423 6,460,411 0
AARP High Quality Short Term Bond Fund 15,743,876 232,853 535,100 0
4. To approve the revision of each fund's fundamental lending policy.
AARP Income Trust Number of Votes:
----------------- --------------------------------------------------------
Broker
For Against Abstain Non-Votes*
--- ------- ------- ----------
AARP Bond Fund for Income 8,708,450 102,823 313,786 782
AARP GNMA and U.S. Treasury Fund 162,630,877 4,277,654 9,440,212 330,025
AARP High Quality Short Term Bond Fund 15,237,926 487,557 771,890 14,456
</TABLE>
- --------------------------------------------------------------------------------
* Broker non-votes are proxies received by the fund from brokers or nominees
when the broker or nominee neither has received instructions from the
beneficial owner or other persons entitled to vote nor has discretionary
power to vote on a particular matter.
