<PAGE> PAGE 1
000 A000000 12/31/96
000 C000000 0000075368
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.
000 J000000 U
001 A000000 VKAC PACE FUND
001 B000000 811-01792
001 C000000 6306846000
002 A000000 ONE PARKVIEW PLAZA
002 B000000 OAKBROOK TERRACE
002 C000000 IL
002 D010000 60181
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007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 VAN KAMPEN AMERICAN CAPITAL ASSET MGT., INC.
008 B000001 A
008 C000001 801-8286
008 D010001 OAKBROOK TERRACE
008 D020001 IL
008 D030001 60181
011 A000001 VAN KAMPEN AMERICAN CAPITAL DISTRIBUTORS, INC
011 B000001 8-19903
011 C010001 OAKBROOK TERRACE
011 C020001 IL
011 C030001 60181
012 A000001 ACCESS INVESTOR SERVICES, INC.
012 B000001 84-01621
012 C010001 KANSAS CITY
012 C020001 MO
012 C030001 64141
012 C040001 9256
013 A000001 PRICE WATERHOUSE LLP
013 B010001 HOUSTON
<PAGE> PAGE 2
013 B020001 TX
013 B030001 77002
014 A000001 MORGAN STANLEY & CO., INCORPORATED
014 B000001 8-
015 A000001 STATE STREET BANK & TRUST CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E010001 X
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019 B000000 114
019 C000000 VANKAMPENA
020 A000001 SALOMAN BROTHERS, INC.
020 B000001 13-3082694
020 C000001 436
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020 B000002 13-5108880
020 C000002 431
020 A000003 FIRST BOSTON CORP.
020 B000003 13-5659485
020 C000003 305
020 A000004 MERRILL LYNCH & CO., INC.
020 B000004 13-5674085
020 C000004 297
020 A000005 PAINE WEBBER, INC.
020 B000005 13-2638166
020 C000005 249
020 A000006 UBS SECURITIES
020 B000006 13-2932996
020 C000006 204
020 A000007 SMITH BARNEY INC.
020 B000007 13-1912900
020 C000007 199
020 A000008 BERNSTEIN SANFORD C & CO. INC.
020 B000008 13-2625874
020 C000008 187
020 A000009 MORGAN STANELY & CO., INC.
020 B000009 13-2655998
020 C000009 174
020 A000010 NATWEST SECURITIES
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020 C000010 162
021 000000 5015
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022 B000001 95-4035346
022 C000001 4323561
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022 A000002 LEHMAN BROTHERS, INC.
022 B000002 13-2518466
<PAGE> PAGE 3
022 C000002 2014285
022 D000002 1140
022 A000003 SBC CAPITAL MARKETS INC.
022 B000003 13-2639550
022 C000003 1144991
022 D000003 0
022 A000004 DONALDSON LUFKIN JENRETTE
022 B000004 13-2741729
022 C000004 900897
022 D000004 91937
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022 B000005 04-1867445
022 C000005 908470
022 D000005 0
022 A000006 PRUDENTIAL SECURITIES, INC.
022 B000006 22-2347336
022 C000006 876220
022 D000006 0
022 A000007 GOLDMAN, SACHS & CO.
022 B000007 13-5108880
022 C000007 119424
022 D000007 148135
022 A000008 MERRILL LYNCH
022 B000008 13-5674085
022 C000008 99333
022 D000008 69028
022 A000009 BEAR STEARNS
022 B000009 13-3299429
022 C000009 60524
022 D000009 31072
022 A000010 FIRST CHICAGO CAPITAL MARKETS
022 B000010 36-3595942
022 C000010 74664
022 D000010 0
023 C000000 10844843
023 D000000 521551
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025 C000001 E
025 D000001 3953
025 A000002 MERRILL LYNCH & CO., INC.
025 B000002 13-5674085
025 C000002 E
025 D000002 18134
025 A000003 BEAR STEARNS COS., INC.
025 B000003 13-3299429
025 C000003 E
025 D000003 10453
025 A000004 J.P. MORGAN & CO., INC.
025 B000004 13-3224016
<PAGE> PAGE 4
025 C000004 E
025 D000004 8201
025 A000005 CHARLES SCHWAB CORP.
025 C000005 E
025 D000005 3200
025 A000006 BA SECURITIES
025 B000006 95-4035346
025 C000006 E
025 D000006 24578
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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SIGNATURE DENNIS J MCDONNELL
TITLE PRES, CEO & TRUSTEE
NSAR ITEM 77C
Van Kampen American Capital Pace Fund
(a) A Special Meeting of Shareholders was held on October 25, 1996.
(b) The election of Trustees of Van Kampen American Capital Pace Fund
(the "Fund") included:
None
(c) The following were voted on at the meeting:
1) Approval of New Investment Advisory Agreement in the event of
a change of control of the Adviser.
For 112,436,505 Against 3,986,777
2) Approval of changes to Fundamental Investment Policies with
respect to investments in other investment companies.
For 101,622,304 Against 5,126,630
4) For each AC Fund, to Ratify the Selection of Price Waterhouse
LLP as Independent Public Accountants for its Current Fiscal
Year.
For 114,627,548 Against 2,097,597
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 11
<NAME> VKAC Pace Fund - Class A
<MULTIPLIER> 1000
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 2379933<F1>
<INVESTMENTS-AT-VALUE> 2757461<F1>
<RECEIVABLES> 52705<F1>
<ASSETS-OTHER> 0<F1>
<OTHER-ITEMS-ASSETS> 50<F1>
<TOTAL-ASSETS> 2810216<F1>
<PAYABLE-FOR-SECURITIES> 47527<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 14558<F1>
<TOTAL-LIABILITIES> 62085<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 2122776
<SHARES-COMMON-STOCK> 223673
<SHARES-COMMON-PRIOR> 212623
<ACCUMULATED-NII-CURRENT> (17)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 170775<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 377106<F1>
<NET-ASSETS> 2669479
<DIVIDEND-INCOME> 21438<F1>
<INTEREST-INCOME> 4916<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (13663)<F1>
<NET-INVESTMENT-INCOME> 12691<F1>
<REALIZED-GAINS-CURRENT> 229064<F1>
<APPREC-INCREASE-CURRENT> 57121<F1>
<NET-CHANGE-FROM-OPS> 298876<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (24363)
<DISTRIBUTIONS-OF-GAINS> (251588)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 57013
<NUMBER-OF-SHARES-REDEEMED> (67919)
<SHARES-REINVESTED> 21956
<NET-CHANGE-IN-ASSETS> 135150
<ACCUMULATED-NII-PRIOR> 11816<F1>
<ACCUMULATED-GAINS-PRIOR> 200704<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 6015<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 13675<F1>
<AVERAGE-NET-ASSETS> 2555550
<PER-SHARE-NAV-BEGIN> 11.920
<PER-SHARE-NII> .066
<PER-SHARE-GAIN-APPREC> 1.319
<PER-SHARE-DIVIDEND> (.121)
<PER-SHARE-DISTRIBUTIONS> (1.25)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.934
<EXPENSE-RATIO> 1.01
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 12
<NAME> VKAC Pace Fund - Class B
<MULTIPLIER> 1000
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 2379933<F1>
<INVESTMENTS-AT-VALUE> 2757461<F1>
<RECEIVABLES> 52705<F1>
<ASSETS-OTHER> 0<F1>
<OTHER-ITEMS-ASSETS> 50<F1>
<TOTAL-ASSETS> 2810216<F1>
<PAYABLE-FOR-SECURITIES> 47527<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 14558<F1>
<TOTAL-LIABILITIES> 62085<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 74336
<SHARES-COMMON-STOCK> 6330
<SHARES-COMMON-PRIOR> 6104
<ACCUMULATED-NII-CURRENT> (17)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 170775<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 377106<F1>
<NET-ASSETS> 75063
<DIVIDEND-INCOME> 21438<F1>
<INTEREST-INCOME> 4916<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (13663)<F1>
<NET-INVESTMENT-INCOME> 12691<F1>
<REALIZED-GAINS-CURRENT> 229064<F1>
<APPREC-INCREASE-CURRENT> 57121<F1>
<NET-CHANGE-FROM-OPS> 298876<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (153)
<DISTRIBUTIONS-OF-GAINS> (7064)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10686
<NUMBER-OF-SHARES-REDEEMED> (11029)
<SHARES-REINVESTED> 569
<NET-CHANGE-IN-ASSETS> 2948
<ACCUMULATED-NII-PRIOR> 11816<F1>
<ACCUMULATED-GAINS-PRIOR> 200704<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 6015<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 13675<F1>
<AVERAGE-NET-ASSETS> 72776
<PER-SHARE-NAV-BEGIN> 11.810
<PER-SHARE-NII> .017
<PER-SHARE-GAIN-APPREC> 1.308
<PER-SHARE-DIVIDEND> (.027)
<PER-SHARE-DISTRIBUTIONS> (1.25)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.858
<EXPENSE-RATIO> 1.82
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 13
<NAME> VKAC Pace Fund - Class C
<MULTIPLIER> 1000
<CAPTION>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 2379933<F1>
<INVESTMENTS-AT-VALUE> 2757461<F1>
<RECEIVABLES> 52705<F1>
<ASSETS-OTHER> 0<F1>
<OTHER-ITEMS-ASSETS> 50<F1>
<TOTAL-ASSETS> 2810216<F1>
<PAYABLE-FOR-SECURITIES> 47527<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 14558<F1>
<TOTAL-LIABILITIES> 62085<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 3155
<SHARES-COMMON-STOCK> 302
<SHARES-COMMON-PRIOR> 377
<ACCUMULATED-NII-CURRENT> (17)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 170775<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 377106<F1>
<NET-ASSETS> 3589
<DIVIDEND-INCOME> 21438<F1>
<INTEREST-INCOME> 4916<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (13663)<F1>
<NET-INVESTMENT-INCOME> 12691<F1>
<REALIZED-GAINS-CURRENT> 229064<F1>
<APPREC-INCREASE-CURRENT> 57121<F1>
<NET-CHANGE-FROM-OPS> 298876<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (8)
<DISTRIBUTIONS-OF-GAINS> (341)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2146
<NUMBER-OF-SHARES-REDEEMED> (2248)
<SHARES-REINVESTED> 27
<NET-CHANGE-IN-ASSETS> (879)
<ACCUMULATED-NII-PRIOR> 11816<F1>
<ACCUMULATED-GAINS-PRIOR> 200704<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 6015<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 13675<F1>
<AVERAGE-NET-ASSETS> 4114
<PER-SHARE-NAV-BEGIN> 11.830
<PER-SHARE-NII> .012
<PER-SHARE-GAIN-APPREC> 1.303
<PER-SHARE-DIVIDEND> (.027)
<PER-SHARE-DISTRIBUTIONS> (1.25)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.868
<EXPENSE-RATIO> 1.80
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>
This item relates to the Fund on a composite basis and not on a class basis.
</FN>
</TABLE>
