BARON ASSET FUND
NSAR-A, 1997-05-30
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<PAGE>      PAGE  1
000 A000000 03/31/97
000 C000000 0000810902
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 BARON ASSET FUND
001 B000000 811-5032
001 C000000 2125832000
002 A000000 767 FIFTH AVENUE  24TH FLOOR
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10153
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C020100 BARON ASSET FUND
007 C030100 N
007 C010200  2
007 C020200 BARON GROWTH & INCOME FUND
007 C030200 N
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
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007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
008 A00AA01 BAMCO, INC.
008 B00AA01 A
008 C00AA01 801-29080
008 D01AA01 NEW YORK
008 D02AA01 NY
<PAGE>      PAGE  2
008 D03AA01 10153
011 A00AA01 BARON CAPITAL, INC.
011 B00AA01 8-27533
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10153
012 A00AA01 DST SYSTEMS,INC.
012 B00AA01 84-00448
012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 84105
012 C04AA04 0
013 A00AA01 COOPERS & LYBRAND, LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10019
013 B04AA01 6013
014 A00AA01 BARON CAPITAL, INC.
014 B00AA01 8-27533
015 A00AA01 THE BANK OF NEW YORK
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10286
015 E01AA01 X
018  00AA00 Y
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020 C000004     13
020 A000005 CANTOR FITZGERALD
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<PAGE>      PAGE  3
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<PAGE>      PAGE  7
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066 A000100 Y
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<PAGE>      PAGE  8
070 B020100 N
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070 C020100 N
070 D010100 N
070 D020100 N
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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028 A010200     26795
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<PAGE>      PAGE  11
067  000200 N
068 A000200 N
068 B000200 N
069  000200 N
070 A010200 Y
070 A020200 N
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
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070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 Y
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 N
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SIGNATURE   LINDA S. MARTINSON                           
TITLE       GENERAL COUNSEL     
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000810902
<NAME> BARON ASSET FUND
<SERIES>
   <NUMBER> 1
   <NAME> BARON ASSET FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-START>                             OCT-01-1996
<PERIOD-END>                               MAR-31-1997
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<INVESTMENTS-AT-VALUE>                  $1,682,239,198
<RECEIVABLES>                           $    4,861,853
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<SENIOR-EQUITY>                         $            0
<PAID-IN-CAPITAL-COMMON>                $1,536,279,304
<SHARES-COMMON-STOCK>                       47,552,985
<SHARES-COMMON-PRIOR>                       32,842,555
<ACCUMULATED-NII-CURRENT>                            0
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<EQUALIZATION>                          $            0
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000810902
<NAME> BARON ASSET FUND
<SERIES>
   <NUMBER> 2
   <NAME> BARON GROWTH & INCOME FUND
       
<S>                             <C>
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<NUMBER-OF-SHARES-REDEEMED>              (  2,707,922)
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<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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