<PAGE> PAGE 1
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<PAGE> PAGE 2
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02110
012 A00AA01 SCUDDER SERVICE CORPORATION
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012 C01AA01 BOSTON
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014 A00AA02 KEMPER DISTRIBUTORS, INC
014 B00AA02 8-47765
014 A00AA03 GRUNTAL SECURITIES, INC.
014 B00AA03 8-31022
014 A00AA04 THE GMS GROUP, INC.
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014 A00AA06 BANK HANDLOWY
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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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028 A010400 3376
028 A020400 0
028 A030400 0
028 A040400 3442
028 B010400 6163
028 B020400 0
028 B030400 0
028 B040400 1851
028 C010400 10861
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028 C030400 0
028 C040400 3430
028 D010400 11781
028 D020400 0
028 D030400 0
028 D040400 2576
028 E010400 34345
028 E020400 4508
028 E030400 0
028 E040400 8056
028 F010400 58033
028 F020400 1
028 F030400 0
028 F040400 10631
<PAGE> PAGE 19
028 G010400 124559
028 G020400 4509
028 G030400 0
028 G040400 29986
028 H000400 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
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
<PAGE> PAGE 20
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 N
070 N010400 Y
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 159460
071 B000400 -87098
071 C000400 110642
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072 A000400 6
072 B000400 226
072 C000400 8
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072 M000400 25
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072 P000400 0
072 Q000400 0
072 R000400 9
072 S000400 8
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072 U000400 2
072 V000400 0
072 W000400 5
072 X000400 1048
072 Y000400 45
072 Z000400 -769
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<PAGE> PAGE 21
072DD020400 0
072EE000400 4562
073 A010400 0.0000
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074 F000400 67899
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SIGNATURE JOHN MILLETTE
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
Small Company Value Fund Semiannual Report for the six months ended January
31,2000 and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> Scudder Small Company Value Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-START> AUG-01-1999
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 230,832,646
<INVESTMENTS-AT-VALUE> 198,012,760
<RECEIVABLES> 2,225,590
<ASSETS-OTHER> 1,433
<OTHER-ITEMS-ASSETS> 4,609
<TOTAL-ASSETS> 200,244,392
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,490,357
<TOTAL-LIABILITIES> 1,490,357
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 230,445,995
<SHARES-COMMON-STOCK> 12,352,381
<SHARES-COMMON-PRIOR> 15,158,488
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (4,909)
<ACCUMULATED-NET-GAINS> 1,132,836
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (32,819,887)
<NET-ASSETS> 198,754,035
<DIVIDEND-INCOME> 1,562,330
<INTEREST-INCOME> 125,909
<OTHER-INCOME> 0
<EXPENSES-NET> 1,564,569
<NET-INVESTMENT-INCOME> 123,670
<REALIZED-GAINS-CURRENT> 7,425,477
<APPREC-INCREASE-CURRENT> (54,394,814)
<NET-CHANGE-FROM-OPS> (46,845,667)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (257,871)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 27,550,676
<NUMBER-OF-SHARES-REDEEMED> (75,951,093)
<SHARES-REINVESTED> 240,307
<NET-CHANGE-IN-ASSETS> (95,263,648)
<ACCUMULATED-NII-PRIOR> 129,292
<ACCUMULATED-GAINS-PRIOR> (6,292,641)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 938,741
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,964,633
<AVERAGE-NET-ASSETS> 248,544,169
<PER-SHARE-NAV-BEGIN> 19.40
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> (3.31)
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.01
<PER-SHARE-NAV-END> 16.09
<EXPENSE-RATIO> 1.25
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
21St Century Growth Fund Semiannual Report for the period ended 1/31/2000 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> JUL-31-2000
<PERIOD-START> AUG-01-1999
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 168,699,070
<INVESTMENTS-AT-VALUE> 200,012,786
<RECEIVABLES> 26,372,035
<ASSETS-OTHER> 941
<OTHER-ITEMS-ASSETS> 8,163
<TOTAL-ASSETS> 226,393,925
<PAYABLE-FOR-SECURITIES> 10,158,443
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,261,998
<TOTAL-LIABILITIES> 11,420,441
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 151,348,691
<SHARES-COMMON-STOCK> 7,559,868
<SHARES-COMMON-PRIOR> 3,870,878
<ACCUMULATED-NII-CURRENT> (769,406)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 33,080,483
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 31,313,716
<NET-ASSETS> 214,973,484
<DIVIDEND-INCOME> 8,429
<INTEREST-INCOME> 225,761
<OTHER-INCOME> 0
<EXPENSES-NET> 1,003,596
<NET-INVESTMENT-INCOME> (769,406)
<REALIZED-GAINS-CURRENT> 33,826,012
<APPREC-INCREASE-CURRENT> 15,845,764
<NET-CHANGE-FROM-OPS> 48,902,370
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (4,561,756)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 124,558,615
<NUMBER-OF-SHARES-REDEEMED> 29,986,431
<SHARES-REINVESTED> 4,508,959
<NET-CHANGE-IN-ASSETS> 143,421,757
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 3,816,227
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 568,767
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,048,184
<AVERAGE-NET-ASSETS> 113,761,729
<PER-SHARE-NAV-BEGIN> 18.48
<PER-SHARE-NII> (0.16)
<PER-SHARE-GAIN-APPREC> 10.92
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.82
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 28.44
<EXPENSE-RATIO> 1.75
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
Development Fund Semiannual Report for the six months ended 1/31/2000 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> Scudder Development Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-START> AUG-01-1999
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 531,076,286
<INVESTMENTS-AT-VALUE> 817,922,009
<RECEIVABLES> 10,216,566
<ASSETS-OTHER> 4,835
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 828,143,410
<PAYABLE-FOR-SECURITIES> 26,467,836
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,161,948
<TOTAL-LIABILITIES> 31,629,784
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 395,593,979
<SHARES-COMMON-STOCK> 18,637,345
<SHARES-COMMON-PRIOR> 17,787,902
<ACCUMULATED-NII-CURRENT> (3,484,119)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 117,561,538
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 286,842,228
<NET-ASSETS> 796,513,626
<DIVIDEND-INCOME> 888,781
<INTEREST-INCOME> 974,675
<OTHER-INCOME> 0
<EXPENSES-NET> 5,347,575
<NET-INVESTMENT-INCOME> (3,484,119)
<REALIZED-GAINS-CURRENT> 75,227,937
<APPREC-INCREASE-CURRENT> 85,451,212
<NET-CHANGE-FROM-OPS> 157,195,030
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (113,692,320)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 365,405,462
<NUMBER-OF-SHARES-REDEEMED> (435,132,708)
<SHARES-REINVESTED> 106,659,586
<NET-CHANGE-IN-ASSETS> 80,435,050
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 156,025,921
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,673,215
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,357,873
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 40.26
<PER-SHARE-NII> (0.20)
<PER-SHARE-GAIN-APPREC> 9.18
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (6.50)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 42.74
<EXPENSE-RATIO> 1.44
</TABLE>
