INVESCO VALUE TRUST
NSAR-A, 1996-04-24
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<PAGE>      PAGE  1
000 A000000 02/29/96
000 C000000 789940
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 VALUE TRUST
001 B000000 811-4595
001 C000000 3039306300
002 A000000 7800 EAST UNION AVE
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  3
007 C010100  1
007 C020100 INVESCO VALUE EQUITY FUND
007 C030100 N
007 C010200  2
007 C020200 INVESCO INTERMEDIATE GOVERNMENT BOND FUND
007 C030200 N
007 C010300  3
007 C020300 INVESCO TOTAL RETURN FUND
007 C030300 N
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 INVESCO FUNDS GROUP, INC.
008 B00AA01 A
008 C00AA01 801-1569
008 D01AA01 DENVER
008 D02AA01 CO
008 D03AA01 80237
008 A00AA02 INVESCO CAPITAL MANAGEMENT, INC
008 B00AA02 S
008 C00AA02 801-33949
008 D01AA02 ATLANTA
008 D02AA02 GA
008 D03AA02 30309
010 A00AA01 INVESCO FUNDS GROUP, INC.
<PAGE>      PAGE  2
010 B00AA01 801-1569
010 C01AA01 DENVER
010 C02AA01 CO
010 C03AA01 80237
011 A00AA01 INVESCO FUNDS GROUP, INC.
011 B00AA01 8-02856
011 C01AA01 DENVER
011 C02AA01 CO
011 C03AA01 80237
012 A00AA01 INVESCO FUNDS GROUP, INC.
012 B00AA01 84-0235630
012 C01AA01 DENVER
012 C02AA01 CO
012 C03AA01 80237
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 DENVER
013 B02AA01 CO
013 B03AA01 80202
015 A00AA01 STATE STREET BANK & TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02105
015 E01AA01 X
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019 C00AA00 INVESCOFUN
020 A000001 SMITH BARNEY SHEARSON
020 B000001 13-2869611
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020 A000002 LAMON & STERN
020 B000002 58-1334773
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020 A000003 BROWN (ALEX) & SONS
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020 A000004 MERRILL LYNCH PIERCE FENNER & SMITH
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020 A000005 INSTITUTIONAL BROKERAGE SERVICES
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<PAGE>      PAGE  3
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<PAGE>      PAGE  4
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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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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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<PAGE>      PAGE  16
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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<PAGE>      PAGE  19
SIGNATURE   JUDY P. WIESE                                
TITLE       VICE PRESIDENT      
 


<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 1
   <NAME> INVESCO VALUE EQUITY FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          AUG-30-1996
<PERIOD-END>                               FEB-29-1996
<INVESTMENTS-AT-COST>                        153039044
<INVESTMENTS-AT-VALUE>                       197408493
<RECEIVABLES>                                  1286229
<ASSETS-OTHER>                                   39675
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               198734397
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       299067
<TOTAL-LIABILITIES>                             299067
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     153671847
<SHARES-COMMON-STOCK>                          9145195
<SHARES-COMMON-PRIOR>                          7842096
<ACCUMULATED-NII-CURRENT>                         1856
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         392178
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      44369449
<NET-ASSETS>                                 198435330
<DIVIDEND-INCOME>                              2171409
<INTEREST-INCOME>                               224943
<OTHER-INCOME>                                 (29568)
<EXPENSES-NET>                                  837839
<NET-INVESTMENT-INCOME>                        1529395
<REALIZED-GAINS-CURRENT>                        583067
<APPREC-INCREASE-CURRENT>                     20200339
<NET-CHANGE-FROM-OPS>                         20783406
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      1540155
<DISTRIBUTIONS-OF-GAINS>                       3086951
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        4212615
<NUMBER-OF-SHARES-REDEEMED>                    3124817
<SHARES-REINVESTED>                             215301
<NET-CHANGE-IN-ASSETS>                        45264441
<ACCUMULATED-NII-PRIOR>                          12616
<ACCUMULATED-GAINS-PRIOR>                      2896062
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           648375
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 848796
<AVERAGE-NET-ASSETS>                         172813218
<PER-SHARE-NAV-BEGIN>                            19.53
<PER-SHARE-NII>                                   0.18
<PER-SHARE-GAIN-APPREC>                           2.55
<PER-SHARE-DIVIDEND>                              0.18
<PER-SHARE-DISTRIBUTIONS>                         0.38
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              21.70
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 2
   <NAME> INVESCO INTERMEDIATE GOVERNMENT BOND FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          AUG-30-1996
<PERIOD-END>                               FEB-29-1996
<INVESTMENTS-AT-COST>                         36958019
<INVESTMENTS-AT-VALUE>                        38450925
<RECEIVABLES>                                   411659
<ASSETS-OTHER>                                   16547
<OTHER-ITEMS-ASSETS>                              3967
<TOTAL-ASSETS>                                38883098
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        95730
<TOTAL-LIABILITIES>                              95730
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      38197598
<SHARES-COMMON-STOCK>                          3045975
<SHARES-COMMON-PRIOR>                          2953843
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       (903136)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       1492906
<NET-ASSETS>                                  38787368
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              1299022
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  227893
<NET-INVESTMENT-INCOME>                        1071129
<REALIZED-GAINS-CURRENT>                         29460
<APPREC-INCREASE-CURRENT>                       223912
<NET-CHANGE-FROM-OPS>                           253372
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      1071129
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         832776
<NUMBER-OF-SHARES-REDEEMED>                     819828
<SHARES-REINVESTED>                              79184
<NET-CHANGE-IN-ASSETS>                         1448024
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                     (932596)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           114414
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 231403
<AVERAGE-NET-ASSETS>                          38555043
<PER-SHARE-NAV-BEGIN>                            12.64
<PER-SHARE-NII>                                   0.36
<PER-SHARE-GAIN-APPREC>                           0.09
<PER-SHARE-DIVIDEND>                              0.36
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.73
<EXPENSE-RATIO>                                      1
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 3
   <NAME> INVESCO TOTAL RETURN FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          AUG-30-1996
<PERIOD-END>                               FEB-29-1996
<INVESTMENTS-AT-COST>                        739936848
<INVESTMENTS-AT-VALUE>                       872639617
<RECEIVABLES>                                  5900904
<ASSETS-OTHER>                                  106498
<OTHER-ITEMS-ASSETS>                            822347
<TOTAL-ASSETS>                               879469366
<PAYABLE-FOR-SECURITIES>                       5844601
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       567166
<TOTAL-LIABILITIES>                            6411767
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     740374084
<SHARES-COMMON-STOCK>                         38527980
<SHARES-COMMON-PRIOR>                         26892589
<ACCUMULATED-NII-CURRENT>                         9106
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        (28360)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     132702769
<NET-ASSETS>                                 873057599
<DIVIDEND-INCOME>                              6534976
<INTEREST-INCOME>                              9092503
<OTHER-INCOME>                                (109202)
<EXPENSES-NET>                                 3171060
<NET-INVESTMENT-INCOME>                       12347217
<REALIZED-GAINS-CURRENT>                       2691013
<APPREC-INCREASE-CURRENT>                     55786207
<NET-CHANGE-FROM-OPS>                         58477220
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     12331584
<DISTRIBUTIONS-OF-GAINS>                       4352077
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                       14609468
<NUMBER-OF-SHARES-REDEEMED>                    3706825
<SHARES-REINVESTED>                             732748
<NET-CHANGE-IN-ASSETS>                       309589109
<ACCUMULATED-NII-PRIOR>                         (6527)
<ACCUMULATED-GAINS-PRIOR>                      1632704
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          2607632
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                3208419
<AVERAGE-NET-ASSETS>                         725328773
<PER-SHARE-NAV-BEGIN>                            20.95
<PER-SHARE-NII>                                   0.35
<PER-SHARE-GAIN-APPREC>                           1.84
<PER-SHARE-DIVIDEND>                              0.35
<PER-SHARE-DISTRIBUTIONS>                         0.13
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              22.66
<EXPENSE-RATIO>                                      0
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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