<PAGE> PAGE 1
000 B000000 06/30/96
000 C000000 0000860721
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 PIPER GLOBAL FUNDS, INC.
001 B000000 811-06046
001 C000000 6123421169
002 A000000 222 SOUTH NINTH STREET
002 B000000 MINNEAPOLIS
002 C000000 MN
002 D010000 55402
003 000000 Y
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C010200 2
007 C020200 EMERGING MARKET GROWTH FUND
007 C030200 N
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 PIPER CAPITAL MANAGEMENT INCORPORATED
008 B00AA01 A
008 C00AA01 801-20165
008 D01AA01 MINNEAPOLIS
008 D02AA01 MN
008 D03AA01 55402
008 A00AA02 EDINBURGH FUND MANAGERS, PLC
008 B00AA02 S
008 C00AA02 801-00000
008 D01AA02 EDINBURGH
008 D05AA02 SCOTLAND
008 D06AA02 EH12 5HD
010 A00AA01 PIPER CAPITAL MANAGEMENT INCORPORATED
010 B00AA01 811-20165
010 C01AA01 MINNEAPOLIS
010 C02AA01 MN
010 C03AA01 55402
<PAGE> PAGE 2
011 A00AA01 PIPER JAFFRAY INC.
011 B00AA01 8-15204
011 C01AA01 MINNEAPOLIS
011 C02AA01 MN
011 C03AA01 55402
012 A00AA01 INVESTORS FIDUCIARY TRUST COMPANY
012 B00AA01 85-00535
012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 64105
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 MINNEAPOLIS
013 B02AA01 MN
013 B03AA01 55402
014 A00AA01 PIPER JAFFRAY INC.
014 B00AA01 8-15204
015 A00AA01 INVESTORS FIDUCIARY TRUST COMPANY
015 B00AA01 C
015 C01AA01 KANSAS CITY
015 C02AA01 MO
015 C03AA01 64105
015 C04AA01 1716
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 17
019 C00AA00 PIPER FUND
020 A000001 BARING SECURITIES
020 C000001 40
020 A000002 MORGAN STANLEY
020 C000002 22
020 A000003 MERRILL LYNCH
020 C000003 19
020 A000004 OPPENHEIMERIES
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020 A000005 AFIN SECURITIESES
020 C000005 13
020 A000006 GARANTIA
020 C000006 8
020 A000007 SMITH BARNEY
020 C000007 8
020 A000008 BEAR STEARNS
020 C000008 8
020 A000009 J.P. MORGAN SECURITIES
020 C000009 6
020 A000010 FREIMARK BLAIR
020 C000010 5
021 000000 183
022 A000001 CIBC
022 C000001 122538
022 D000001 0
<PAGE> PAGE 3
022 A000002 FUJI
022 C000002 8963
022 D000002 9574
022 A000003 DEAN WITTER
022 C000003 5958
022 D000003 5303
022 A000004 NATWEST BANCORP USA
022 C000004 7357
022 D000004 3096
022 A000005 GX CLARKE
022 C000005 4720
022 D000005 4426
022 A000006 MERRILL LYNCH
022 C000006 831
022 D000006 1798
022 A000007 BARING SECURITIES
022 C000007 467
022 D000007 927
022 A000008 BEAR STEARNS
022 C000008 0
022 D000008 704
022 A000009 UNION BANK OF SWITZERLAND
022 C000009 0
022 D000009 535
022 A000010 LATINVEST
022 C000010 301
022 D000010 191
023 C000000 152327
023 D000000 27665
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
077 A000000 Y
077 B000000 Y
077 C000000 Y
077 M000000 Y
078 000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
<PAGE> PAGE 4
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
024 000200 N
025 D000201 0
025 D000202 0
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 1125
028 A020200 0
028 A030200 0
028 A040200 1043
028 B010200 372
028 B020200 0
028 B030200 0
028 B040200 1334
028 C010200 917
028 C020200 0
028 C030200 0
028 C040200 2944
028 D010200 1640
028 D020200 0
028 D030200 0
028 D040200 3066
028 E010200 1737
028 E020200 0
028 E030200 0
028 E040200 3137
028 F010200 21
028 F020200 0
028 F030200 0
028 F040200 1372
028 G010200 5812
028 G020200 0
028 G030200 0
028 G040200 12896
028 H000200 0
029 000200 N
030 A000200 0
030 B000200 0.00
030 C000200 0.00
031 A000200 0
031 B000200 0
032 000200 0
033 000200 0
<PAGE> PAGE 5
034 000200 Y
035 000200 0
036 A000200 N
036 B000200 0
037 000200 N
038 000200 0
039 000200 N
040 000200 Y
041 000200 Y
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 100
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 94
044 000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 1.000
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
049 000200 N
050 000200 N
051 000200 N
052 000200 N
053 A000200 Y
054 A000200 Y
<PAGE> PAGE 6
054 B000200 Y
054 C000200 N
054 D000200 N
054 E000200 N
054 F000200 N
054 G000200 Y
054 H000200 Y
054 I000200 N
054 J000200 Y
054 K000200 N
054 L000200 N
054 M000200 Y
054 N000200 N
054 O000200 N
055 A000200 Y
055 B000200 N
056 000200 Y
057 000200 N
058 A000200 N
059 000200 Y
060 A000200 N
060 B000200 N
061 000200 250
062 A000200 N
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 0
063 B000200 0.0
066 A000200 Y
066 B000200 N
066 C000200 Y
066 D000200 N
066 E000200 N
066 F000200 N
066 G000200 N
067 000200 N
<PAGE> PAGE 7
068 A000200 N
068 B000200 Y
069 000200 N
070 A010200 Y
070 A020200 N
070 B010200 Y
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 Y
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 Y
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 Y
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 23023
071 B000200 33759
071 C000200 16414
071 D000200 140
072 A000200 12
072 B000200 126
072 C000200 279
072 D000200 0
072 E000200 0
072 F000200 188
072 G000200 0
072 H000200 0
<PAGE> PAGE 8
072 I000200 24
072 J000200 229
072 K000200 0
072 L000200 0
072 M000200 7
072 N000200 16
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 44
072 S000200 0
072 T000200 131
072 U000200 18
072 V000200 0
072 W000200 11
072 X000200 668
072 Y000200 291
072 Z000200 29
072AA000200 1782
072BB000200 78
072CC010200 1774
072CC020200 0
072DD010200 0
072DD020200 0
072EE000200 0
073 A010200 0.0000
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 3
074 B000200 0
074 C000200 777
074 D000200 0
074 E000200 3409
074 F000200 9768
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 43
074 M000200 46
074 N000200 14047
074 O000200 0
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 2
074 S000200 0
<PAGE> PAGE 9
074 T000200 14045
074 U010200 0
074 U020200 0
074 V010200 0.00
074 V020200 0.00
074 W000200 0.0000
074 X000200 3
074 Y000200 0
075 A000200 0
075 B000200 18862
076 000200 0.00
080 A000200 AETNA LIFE AND CASUALTY
080 C000200 2000
081 A000200 Y
081 B000200 1
082 A000200 N
082 B000200 0
083 A000200 N
083 B000200 0
084 A000200 N
084 B000200 0
085 A000200 Y
085 B000200 N
SIGNATURE STEVE GAST
TITLE ACCOUNTING ADMINISTR
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-END> JUN-21-1996
<INVESTMENTS-AT-COST> 13528
<INVESTMENTS-AT-VALUE> 13954
<RECEIVABLES> 43
<ASSETS-OTHER> 46
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 14047
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 111
<TOTAL-LIABILITIES> 111
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 20132
<SHARES-COMMON-STOCK> 1576
<SHARES-COMMON-PRIOR> 3140
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (6621)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 425
<NET-ASSETS> 13936
<DIVIDEND-INCOME> 279
<INTEREST-INCOME> 126
<OTHER-INCOME> 0
<EXPENSES-NET> 377
<NET-INVESTMENT-INCOME> 29
<REALIZED-GAINS-CURRENT> 1704
<APPREC-INCREASE-CURRENT> 1774
<NET-CHANGE-FROM-OPS> 3507
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1061
<NUMBER-OF-SHARES-REDEEMED> 2626
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 8688
<ACCUMULATED-NII-PRIOR> (153624)
<ACCUMULATED-GAINS-PRIOR> (11142882)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 188
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 668
<AVERAGE-NET-ASSETS> 18862
<PER-SHARE-NAV-BEGIN> 720
<PER-SHARE-NII> .01
<PER-SHARE-GAIN-APPREC> 1.63
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.84
<EXPENSE-RATIO> 2.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
