<PAGE> PAGE 1
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<PAGE> PAGE 2
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02110
012 A00AA01 SCUDDER SERVICE CORPORATION
012 B00AA01 84-1489
012 C01AA01 BOSTON
012 C02AA01 MA
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013 A00AA01 COOPERS AND LYBRAND L.L.P.
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013 B03AA01 02109
014 A00AA01 SCUDDER INVESTOR SERVICES, INC.
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015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02107
015 E01AA01 X
015 A00AA02 CITIBANK, NA
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015 D01AA02 ARGENTINA
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015 C01AA03 SYDNEY
015 D01AA03 AUSTRALIA
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015 A00AA04 GIRO CREDIT BANK
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<PAGE> PAGE 3
015 B00AA08 S
015 C01AA08 SAO PAULO
015 D01AA08 BRAZIL
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015 A00AA09 CANADA TRUSTEE MORTGAGE COMPANY
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015 A00AA10 CITIBANK, N.A.
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015 C01AA11 SHANGHAI
015 D01AA11 CHINA
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<PAGE> PAGE 4
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015 D01AA18 GERMANY
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015 A00AA24 STANDARD CHARTERED BANK
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015 A00AA26 BANK HAPOALIM B.M.
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<PAGE> PAGE 5
015 D01AA28 JAPAN
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015 A00AA30 CITIBANK, N.A.
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<PAGE> PAGE 6
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015 A00AA39 CITIBANK POLAND, S.A.
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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
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072 W000300 3
072 X000300 454
072 Y000300 189
072 Z000300 -36
072AA000300 199
072BB000300 0
072CC010300 3925
072CC020300 0
072DD010300 0
072DD020300 0
072EE000300 0
073 A010300 0.0200
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 315
074 B000300 1238
074 C000300 1000
074 D000300 0
074 E000300 0
074 F000300 49664
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 189
074 L000300 105
074 M000300 24
074 N000300 52535
074 O000300 1128
074 P000300 115
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
<PAGE> PAGE 20
074 R040300 332
074 S000300 0
074 T000300 50960
074 U010300 3723323
074 U020300 0
074 V010300 13.69
074 V020300 0.00
074 W000300 0.0000
074 X000300 6831
074 Y000300 0
075 A000300 0
075 B000300 30442
076 000300 0.00
024 000400 N
025 D000401 0
025 D000402 0
025 D000403 0
025 D000404 0
025 D000405 0
025 D000406 0
025 D000407 0
025 D000408 0
028 A010400 2591
028 A020400 0
028 A030400 0
028 A040400 3
028 B010400 3501
028 B020400 0
028 B030400 0
028 B040400 16
028 C010400 2530
028 C020400 0
028 C030400 0
028 C040400 126
028 D010400 1527
028 D020400 0
028 D030400 0
028 D040400 134
028 E010400 2870
028 E020400 0
028 E030400 0
028 E040400 178
028 F010400 2707
028 F020400 0
028 F030400 0
028 F040400 374
028 G010400 15726
028 G020400 0
028 G030400 0
028 G040400 831
028 H000400 0
<PAGE> PAGE 21
029 000400 N
030 A000400 0
030 B000400 0.00
030 C000400 0.00
031 A000400 0
031 B000400 0
032 000400 0
033 000400 0
034 000400 N
035 000400 0
036 B000400 0
037 000400 Y
038 000400 6
040 000400 N
041 000400 N
042 A000400 0
042 B000400 0
042 C000400 0
042 D000400 0
042 E000400 0
042 F000400 0
042 G000400 0
042 H000400 0
043 000400 0
044 000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 1.000
048 A010400 0
048 A020400 0.000
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 0
048 K020400 0.000
<PAGE> PAGE 22
049 000400 N
050 000400 N
051 000400 N
052 000400 N
053 A000400 Y
053 B000400 Y
053 C000400 N
054 A000400 Y
054 B000400 Y
054 C000400 N
054 D000400 N
054 E000400 N
054 F000400 N
054 G000400 N
054 H000400 Y
054 I000400 N
054 J000400 Y
054 K000400 N
054 L000400 N
054 M000400 Y
054 N000400 N
054 O000400 Y
055 A000400 N
055 B000400 N
056 000400 Y
057 000400 N
058 A000400 N
059 000400 Y
060 A000400 Y
060 B000400 Y
061 000400 2500
062 A000400 N
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
063 A000400 0
063 B000400 0.0
<PAGE> PAGE 23
066 A000400 Y
066 D000400 Y
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 N
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 17250
071 B000400 3278
071 C000400 8060
071 D000400 81
072 A000400 6
072 B000400 25
072 C000400 5
072 D000400 0
072 E000400 0
<PAGE> PAGE 24
072 F000400 38
072 G000400 0
072 H000400 0
072 I000400 44
072 J000400 36
072 K000400 0
072 L000400 17
072 M000400 12
072 N000400 21
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 12
072 S000400 6
072 T000400 0
072 U000400 2
072 V000400 0
072 W000400 5
072 X000400 193
072 Y000400 128
072 Z000400 -35
072AA000400 507
072BB000400 0
072CC010400 667
072CC020400 0
072DD010400 0
072DD020400 0
072EE000400 0
073 A010400 0.0500
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 1
074 B000400 732
074 C000400 0
074 D000400 0
074 E000400 0
074 F000400 12799
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 447
074 K000400 127
074 L000400 70
074 M000400 22
074 N000400 14198
074 O000400 303
074 P000400 38
074 Q000400 0
074 R010400 0
074 R020400 0
<PAGE> PAGE 25
074 R030400 0
074 R040400 169
074 S000400 0
074 T000400 13688
074 U010400 1237706
074 U020400 0
074 V010400 11.06
074 V020400 0.00
074 W000400 0.0000
074 X000400 2016
074 Y000400 0
075 A000400 0
075 B000400 7830
076 000400 0.00
SIGNATURE THOMAS F. MCDONOUGH
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE>6
<LEGEND>
This schedule contains summary financial information extracted from the
Scudder Small Co Value Fd Annual Report for the fiscal year ended
February and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
<SERIES>
<NUMBER>2
<NAME>SCUDDER SMALL CO VALUE FD
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 56,462,125
<INVESTMENTS-AT-VALUE> 65,874,270
<RECEIVABLES> 154,521
<ASSETS-OTHER> 17,917
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 66,046,708
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 326,451
<TOTAL-LIABILITIES> 326,451
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 55,453,343
<SHARES-COMMON-STOCK> 4,167,177
<SHARES-COMMON-PRIOR> 3,034,156
<ACCUMULATED-NII-CURRENT> (25,936)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 880,705
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9,412,145
<NET-ASSETS> 65,720,257
<DIVIDEND-INCOME> 344,058
<INTEREST-INCOME> 50,291
<OTHER-INCOME> 0
<EXPENSES-NET> 386,276
<NET-INVESTMENT-INCOME> 8,073
<REALIZED-GAINS-CURRENT> 905,879
<APPREC-INCREASE-CURRENT> 6,609,083
<NET-CHANGE-FROM-OPS> 7,523,035
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (127,322)
<DISTRIBUTIONS-OF-GAINS> (18,189)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,442,322
<NUMBER-OF-SHARES-REDEEMED> (318,343)
<SHARES-REINVESTED> 9,042
<NET-CHANGE-IN-ASSETS> 24,533,071
<ACCUMULATED-NII-PRIOR> 93,313
<ACCUMULATED-GAINS-PRIOR> (6,985)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 195,391
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 458,602
<AVERAGE-NET-ASSETS> 51,926,600
<PER-SHARE-NAV-BEGIN> 13.57
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 2.24
<PER-SHARE-DIVIDEND> (0.04)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.77
<EXPENSE-RATIO> 1.50
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE>6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
Micro Cap Fund Annual Report for the fiscal year ended February and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME>SCUDDER MICRO CAP FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Aug-31-1997
<PERIOD-START> Sep-01-1996
<PERIOD-END> Feb-28-1997
<INVESTMENTS-AT-COST> 47,952,762
<INVESTMENTS-AT-VALUE> 51,901,512
<RECEIVABLES> 295,339
<ASSETS-OTHER> 338,380
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 52,535,231
<PAYABLE-FOR-SECURITIES> 1,128,624
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 446,407
<TOTAL-LIABILITIES> 1,575,031
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 46,883,984
<SHARES-COMMON-STOCK> 3,723,323
<SHARES-COMMON-PRIOR> 651,850
<ACCUMULATED-NII-CURRENT> (71,205)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 198,671
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,948,750
<NET-ASSETS> 50,960,200
<DIVIDEND-INCOME> 141,154
<INTEREST-INCOME> 86,709
<OTHER-INCOME> 0
<EXPENSES-NET> 264,343
<NET-INVESTMENT-INCOME> (36,480)
<REALIZED-GAINS-CURRENT> 198,671
<APPREC-INCREASE-CURRENT> 3,924,510
<NET-CHANGE-FROM-OPS> 4,086,701
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (39,615)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,186,624
<NUMBER-OF-SHARES-REDEEMED> (118,035)
<SHARES-REINVESTED> 2,884
<NET-CHANGE-IN-ASSETS> 43,094,799
<ACCUMULATED-NII-PRIOR> 4,890
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 115,346
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 453,531
<AVERAGE-NET-ASSETS> 30,441,857
<PER-SHARE-NAV-BEGIN> 12.07
<PER-SHARE-NII> (0.02)
<PER-SHARE-GAIN-APPREC> 1.66
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 13.69
<EXPENSE-RATIO> 1.75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
21St Century Growth Fund Annual Report for the fiscal year ended 2/28/97 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>4
<NAME>Scudder 21st Century Growth Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-03-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 14,197,754
<INVESTMENTS-AT-VALUE> 13,530,962
<RECEIVABLES> 644,576
<ASSETS-OTHER> 22,815
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 14,198,353
<PAYABLE-FOR-SECURITIES> 302,503
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 208,277
<TOTAL-LIABILITIES> 510,780
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 14,896,233
<SHARES-COMMON-STOCK> 1,237,706
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (34,937)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (506,931)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (666,792)
<NET-ASSETS> 13,687,573
<DIVIDEND-INCOME> 4,799
<INTEREST-INCOME> 25,257
<OTHER-INCOME> 0
<EXPENSES-NET> 64,993
<NET-INVESTMENT-INCOME> (34,937)
<REALIZED-GAINS-CURRENT> (506,931)
<APPREC-INCREASE-CURRENT> (666,792)
<NET-CHANGE-FROM-OPS> (1,208,660)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,308,988
<NUMBER-OF-SHARES-REDEEMED> (71,382)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 13,686,373
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 37,719
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 192,851
<AVERAGE-NET-ASSETS> 7,829,858
<PER-SHARE-NAV-BEGIN> 12.00
<PER-SHARE-NII> (0.05)
<PER-SHARE-GAIN-APPREC> (0.89)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.06
<EXPENSE-RATIO> 1.75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
