<PAGE> PAGE 1
000 A000000 03/31/97
000 C000000 0000088051
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 SCUDDER EQUITY TRUST
001 B000000 811-1444
001 C000000 6172952559
002 A000000 TWO INTERNATIONAL PLACE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02110
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C020100 SCUDDER LARGE COMPANY VALUE FUND
007 C030100 N
007 C010200 2
007 C020200 SCUDDER VALUE 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
010 A00AA01 SCUDDER FUND ACCOUNTING CORPORATION
010 C01AA01 BOSTON
010 C02AA01 MA
010 C03AA01 02107
010 C04AA01 2291
013 A00AA01 COOPERS AND LYBRAND, L.L.P.
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02110
015 A00AA01 CITIBANK, N.A.
015 B00AA01 S
015 C01AA01 BUENOS AIRES
015 D01AA01 ARGENTINA
015 E04AA01 X
015 A00AA02 WESTPAC BANKING CORPORATION
<PAGE> PAGE 2
015 B00AA02 S
015 C01AA02 SYDNEY
015 D01AA02 AUSTRALIA
015 E04AA02 X
015 A00AA03 GIROCREDIT BANK AKTIENGESELLSCHAFT DER SPARK
015 B00AA03 S
015 C01AA03 VIENNA
015 D01AA03 AUSTRIA
015 E04AA03 X
015 A00AA04 STANDARD CHARTERED BANK
015 B00AA04 S
015 C01AA04 DHAKA
015 D01AA04 BANGLADESH
015 E01AA04 X
015 A00AA05 GENERALE BANK
015 B00AA05 S
015 C01AA05 BRUSSELS
015 D01AA05 BELGIUM
015 E04AA05 X
015 A00AA06 BARCLAYS BANK OF BOTSWANA LIMITED
015 B00AA06 S
015 C01AA06 GABORONE
015 D01AA06 BOTSWANA
015 E04AA06 X
015 A00AA07 THE FIRST NATIONAL BANK OF BOSTON
015 B00AA07 S
015 C01AA07 SAO PAULO
015 D01AA07 BRAZIL
015 E04AA07 X
015 A00AA08 CANADA TRUSTCO MORTGAGE COMPANY
015 B00AA08 S
015 C01AA08 TORONTO
015 D01AA08 CANADA
015 E04AA08 X
015 A00AA09 CITIBANK, N.A.
015 B00AA09 S
015 C01AA09 SANTIAGO
015 D01AA09 CHILE
015 E04AA09 X
015 A00AA10 THE HONG KONG & SHANGHAI BANKING CORP. LTD.
015 B00AA10 S
015 C01AA10 SHANGHAI
015 D01AA10 CHINA
015 E04AA10 X
015 A00AA11 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B00AA11 S
015 C01AA11 BOGOTA
015 D01AA11 COLOMBIA
015 E04AA11 X
015 A00AA12 BARCLAYS BANK PLC
015 B00AA12 S
<PAGE> PAGE 3
015 C01AA12 NICOSIA
015 D01AA12 CYPRUS
015 E04AA12 X
015 A00AA13 CESKOSLOVENSKA OBCHODNI BANKA A.S.
015 B00AA13 S
015 C01AA13 PRAGUE
015 D01AA13 CZECH REPUBLIC
015 E04AA13 X
015 A00AA14 DEN DANSKE BANK
015 B00AA14 S
015 C01AA14 COPENHAGEN
015 D01AA14 DENMARK
015 E04AA14 X
015 A00AA15 MERITA BANK LIMITED
015 B00AA15 S
015 C01AA15 HELSINKI
015 D01AA15 FINLAND
015 E04AA15 X
015 A00AA16 BANQUE PARIBAS
015 B00AA16 S
015 C01AA16 PARIS
015 D01AA16 FRANCE
015 E04AA16 X
015 A00AA17 DRESDNER BANK A.G.
015 B00AA17 S
015 C01AA17 XXX
015 D01AA17 GERMANY
015 E04AA17 X
015 A00AA18 BARCLAYS BANK OF GHANA LIMITED
015 B00AA18 S
015 C01AA18 ACCRA
015 D01AA18 GHANA
015 E04AA18 X
015 A00AA19 NATIONAL BANK OF GREECE S.A.
015 B00AA19 S
015 C01AA19 ATHENS
015 D01AA19 GREECE
015 E04AA19 X
015 A00AA20 STANDARD CHARTERED BANK
015 B00AA20 S
015 C01AA20 HONG KONG
015 D01AA20 HONG KONG
015 E04AA20 X
015 A00AA21 CITIBANK BUDAPEST RT.
015 B00AA21 S
015 C01AA21 BUDAPEST
015 D01AA21 HUNGARY
015 E04AA21 X
015 A00AA22 DEUTSCHE BANK A.G.
015 B00AA22 S
015 C01AA22 BOMBAY
<PAGE> PAGE 4
015 D01AA22 INDIA
015 E04AA22 X
015 A00AA23 STANDARD CHARTERED BANK
015 B00AA23 S
015 C01AA23 JAKARTA
015 D01AA23 INDONESIA
015 E04AA23 X
015 A00AA24 BANK OF IRELAND
015 B00AA24 S
015 C01AA24 DUBLIN
015 D01AA24 IRELAND
015 E04AA24 X
015 A00AA25 BANK HAPOALIM B.M.
015 B00AA25 S
015 C01AA25 TEL AVIV
015 D01AA25 ISRAEL
015 E04AA25 X
015 A00AA26 BANQUE PARIBAS
015 B00AA26 S
015 C01AA26 XXX
015 D01AA26 ITALY
015 E04AA26 X
015 A00AA27 SUMITOMO TRUST & BANKING CO. LTD.
015 B00AA27 S
015 C01AA27 TOKYO
015 D01AA27 JAPAN
015 E04AA27 X
015 A00AA28 BARCLAYS BANK OF KENYA LIMITED
015 B00AA28 S
015 C01AA28 NAIROBI
015 D01AA28 KENYA
015 E04AA28 X
015 A00AA29 CITIBANK, N.A.
015 B00AA29 S
015 C01AA29 SEOUL
015 D01AA29 KOREA
015 E04AA29 X
015 A00AA30 STANDARD CHARTERED BANK
015 B00AA30 S
015 C01AA30 BERHAD KUALA
015 D01AA30 MALAYSIA
015 E04AA30 X
015 A00AA31 CITIBANK MEXICO, S.A.
015 B00AA31 S
015 C01AA31 MEXICO CITY
015 D01AA31 MEXICO
015 E04AA31 X
015 A00AA32 MEES PIERSON N.V.
015 B00AA32 S
015 C01AA32 AMSTERDAM
015 D01AA32 NETHERLANDS
<PAGE> PAGE 5
015 E04AA32 X
015 A00AA33 ANZ BANKING GROUP LIMITED
015 B00AA33 S
015 C01AA33 AUCKLAND
015 D01AA33 NEW ZEALAND
015 E04AA33 X
015 A00AA34 CHRISTIANA BANK OG KREDITKASSE
015 B00AA34 S
015 C01AA34 OSLO
015 D01AA34 NORWAY
015 E04AA34 X
015 A00AA35 DEUTSCHE BANK AG
015 B00AA35 S
015 C01AA35 KARACHI
015 D01AA35 PAKISTAN
015 E04AA35 X
015 A00AA36 CITIBANK, N.A.
015 B00AA36 S
015 C01AA36 LIMA
015 D01AA36 PERU
015 E04AA36 X
015 A00AA37 STANDARD CHARTERED BANK
015 B00AA37 S
015 C01AA37 MANILA
015 D01AA37 PHILIPPINES
015 E04AA37 X
015 A00AA38 CITIBANK POLAND, S.A.
015 B00AA38 S
015 C01AA38 WARSAW
015 D01AA38 POLAND
015 E04AA38 X
015 A00AA39 BANCO COMERCIAL PORTUGUES
015 B00AA39 S
015 C01AA39 LISBON
015 D01AA39 PORTUGAL
015 E04AA39 X
015 A00AA40 THE DEVELOPMENT BANK OF SINGAPORE LTD.
015 B00AA40 S
015 C01AA40 SINGAPORE
015 D01AA40 SINGAPORE
015 E04AA40 X
015 A00AA41 CESKOSLOVENSKA OBCHADNA BANKA A.S.
015 B00AA41 S
015 C01AA41 XXXX
015 D01AA41 SLOVAK REPUBLIC
015 E04AA41 X
015 A00AA42 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B00AA42 S
015 C01AA42 JOHANNESBURG
015 D01AA42 SOUTH AFRICA
015 E04AA42 X
<PAGE> PAGE 6
015 A00AA43 BANCO SANTANDER, S.A.
015 B00AA43 S
015 C01AA43 MADRID
015 D01AA43 SPAIN
015 E04AA43 X
015 A00AA44 THE HONG KONG & SHANGHAI BANKING CORP., LTD.
015 B00AA44 S
015 C01AA44 COLUMBO
015 D01AA44 SRI LANKA
015 E04AA44 X
015 A00AA45 BARCLAYS BANK OF SWAZILAND, LTD.
015 B00AA45 S
015 C01AA45 MBABANE
015 D01AA45 SWAZILAND
015 E04AA45 X
015 A00AA46 SKANDINAVISKA ENSKILDA BANKER
015 B00AA46 S
015 C01AA46 STOCKHOLM
015 D01AA46 SWEDEN
015 E04AA46 X
015 A00AA47 UNION BANK OF SWITZERLAND
015 B00AA47 S
015 C01AA47 ZURICH
015 D01AA47 SWITZERLAND
015 E04AA47 X
015 A00AA48 CENTRAL TRUST OF CHINA
015 B00AA48 S
015 C01AA48 TAIPEI
015 D01AA48 TAIWAN
015 E04AA48 X
015 A00AA49 STANDARD CHARTERED BANK
015 B00AA49 S
015 C01AA49 BANGKOK
015 D01AA49 THAILAND
015 E04AA49 X
015 A00AA50 CITIBANK, N.A.
015 B00AA50 S
015 C01AA50 ISTANBUL
015 D01AA50 TURKEY
015 E04AA50 X
015 A00AA51 STATE STREET LONDON LIMITED
015 B00AA51 S
015 C01AA51 LONDON
015 D01AA51 UNITED KINGDOM
015 E04AA51 X
015 A00AA52 STATE STREET BANK AND TRUST COMPANY
015 B00AA52 S
015 C01AA52 LONDON
015 D01AA52 UNITED KINGDOM
015 E04AA52 X
015 A00AA53 CITIBANK, N.A.
<PAGE> PAGE 7
015 B00AA53 S
015 C01AA53 MONTEVIDEO
015 D01AA53 URUGUAY
015 E04AA53 X
015 A00AA54 CITIBANK, N.A.
015 B00AA54 S
015 C01AA54 CARACAS
015 D01AA54 VENEZUELA
015 E04AA54 X
015 A00AA55 BARCLAYS BANK OF ZAMBIA LIMITED
015 B00AA55 S
015 C01AA55 LUSAKA
015 D01AA55 ZAMBIA
015 E04AA55 X
015 A00AA56 BARCLAYS BANK OF ZIMBABWE LIMITED
015 B00AA56 S
015 C01AA56 HARARE
015 D01AA56 ZIMBABWE
015 E04AA56 X
015 A00AA57 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B00AA57 S
015 C01AA57 BOGOTA
015 D01AA57 COLOMBIA
015 E04AA57 X
015 A00AA58 STATE STREET BANK AND TRUST COMPANY
015 B00AA58 C
015 C01AA58 BOSTON
015 C02AA58 MA
015 C03AA58 02110
015 E01AA58 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 55
019 C00AA00 SCUDDERRRR
020 A000001 LEHMAN BROS. INC.
020 B000001 13-2663822
020 C000001 106
020 A000002 THE FIRST BOSTON CORPORATION
020 C000002 91
020 A000003 MORGAN STANLEY
020 B000003 13-2655998
020 C000003 84
020 A000004 GOLDMAN SACHS
020 B000004 13-5108880
020 C000004 82
020 A000005 SCHROEDER WERTHEIM & CO.
020 C000005 72
020 A000006 DONALDSON LUFKIN
020 C000006 72
020 A000007 WEEDEN
020 C000007 70
<PAGE> PAGE 8
020 A000008 SANFORD C. BERNSTEIN & CO.
020 C000008 69
020 A000009 SALOMON BROTHERS
020 C000009 63
020 A000010 SMITH BARNEY SHEARSON
020 C000010 56
021 000000 1522
022 A000001 SANWA BANK CALIFORNIA
022 C000001 96977
022 D000001 0
022 A000002 MERRILL LYNCH
022 B000002 13-5674085
022 C000002 40463
022 D000002 45970
022 A000003 MORGAN STANLEY
022 B000003 13-2655998
022 C000003 44384
022 D000003 35416
022 A000004 DONALDSON LUFKIN
022 C000004 37370
022 D000004 41656
022 A000005 GOLDMAN SACHS
022 B000005 13-5108880
022 C000005 52812
022 D000005 20148
022 A000006 SANFORD C. BERNSTEIN
022 C000006 10419
022 D000006 56110
022 A000007 LEHMAN BROTHERS
022 B000007 13-2663822
022 C000007 29890
022 D000007 30323
022 A000008 SCHROEDER WERTHEIM
022 C000008 22854
022 D000008 34317
022 A000009 FIRST BOSTON CORPORATION
022 C000009 25230
022 D000009 28079
022 A000010 SALOMON BROTHERS
022 C000010 28921
022 D000010 17430
023 C000000 9326411
023 D000000 4978665
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
<PAGE> PAGE 9
026 H000000 Y
027 000000 Y
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 2500
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
080 A00AA00 ICI MUTUAL INSURANCE CO.
080 B00AA00 GULF INSURANCE COMPANY
080 C00AA00 60000
081 A00AA00 Y
081 B00AA00 70
082 A00AA00 Y
082 B00AA00 100000
028 A010100 15656
028 A020100 0
028 A030100 0
<PAGE> PAGE 10
028 A040100 20328
028 B010100 21820
028 B020100 0
028 B030100 0
028 B040100 26562
028 C010100 25246
028 C020100 182941
028 C030100 0
028 C040100 56617
028 D010100 22144
028 D020100 0
028 D030100 0
028 D040100 35729
028 E010100 19513
028 E020100 0
028 E030100 0
028 E040100 28074
028 F010100 17447
028 F020100 0
028 F030100 0
028 F040100 28529
028 G010100 121827
028 G020100 182941
028 G030100 0
028 G040100 195839
028 H000100 0
070 A010100 Y
070 A020100 Y
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 Y
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 Y
<PAGE> PAGE 11
070 M020100 Y
070 N010100 Y
070 N020100 N
070 O010100 N
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 504938
071 B000100 585456
071 C000100 1728158
071 D000100 58
072 A000100 6
072 B000100 843
072 C000100 22401
072 D000100 0
072 E000100 0
072 F000100 5786
072 G000100 0
072 H000100 0
072 I000100 2289
072 J000100 166
072 K000100 0
072 L000100 153
072 M000100 19
072 N000100 60
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 27
072 S000100 13
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 25
072 X000100 8538
072 Y000100 0
072 Z000100 14706
072AA000100 78504
072BB000100 0
072CC010100 103379
072CC020100 0
072DD010100 0
072DD020100 0
072EE000100 0
073 A010100 0.1600
073 A020100 0.0000
073 B000100 2.4800
<PAGE> PAGE 12
073 C000100 0.0000
074 A000100 0
074 B000100 27885
074 C000100 0
074 D000100 0
074 E000100 0
074 F000100 1733622
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 9942
074 K000100 0
074 L000100 4742
074 M000100 45
074 N000100 1776236
074 O000100 3222
074 P000100 1005
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 5766
074 S000100 0
074 T000100 1766243
074 U010100 77865813
074 U020100 0
074 V010100 22.68
074 V020100 0.00
074 W000100 0.0000
074 X000100 81154
074 Y000100 0
075 A000100 0
075 B000100 1779812
076 000100 0.00
028 A010200 2618
028 A020200 0
028 A030200 0
028 A040200 1523
028 B010200 6885
028 B020200 0
028 B030200 0
028 B040200 2516
028 C010200 4084
028 C020200 8028
028 C030200 0
028 C040200 5360
028 D010200 12745
028 D020200 0
028 D030200 0
028 D040200 3218
028 E010200 12334
<PAGE> PAGE 13
028 E020200 0
028 E030200 0
028 E040200 3217
028 F010200 14802
028 F020200 0
028 F030200 0
028 F040200 5937
028 G010200 53468
028 G020200 8028
028 G030200 0
028 G040200 21771
028 H000200 0
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 Y
070 F020200 Y
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 Y
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 Y
070 N010200 Y
070 N020200 N
070 O010200 N
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 48668
071 B000200 31318
071 C000200 97572
<PAGE> PAGE 14
071 D000200 64
072 A000200 6
072 B000200 316
072 C000200 1116
072 D000200 0
072 E000200 0
072 F000200 382
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072 I000200 213
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072 W000200 1
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072 Y000200 43
072 Z000200 753
072AA000200 6489
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072CC020200 0
072DD010200 0
072DD020200 0
072EE000200 0
073 A010200 0.0700
073 A020200 0.0000
073 B000200 1.4800
073 C000200 0.0000
074 A000200 1
074 B000200 3757
074 C000200 20000
074 D000200 0
074 E000200 0
074 F000200 112674
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<PAGE> PAGE 15
074 N000200 139239
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074 R030200 0
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076 000200 0.00
SIGNATURE THOMAS F. MCDONOUGH
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE>6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
Large Company Value Fund Semi Annual Report for the fiscal period ended 3/31/97
and is qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> Scudder Large Company Value Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-START> SEP-30-1996
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 1,465,516,805
<INVESTMENTS-AT-VALUE> 1,761,507,044
<RECEIVABLES> 14,815,966
<ASSETS-OTHER> 45,239
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,776,368,249
<PAYABLE-FOR-SECURITIES> 3,221,731
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,902,642
<TOTAL-LIABILITIES> 10,124,373
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,407,449,530
<SHARES-COMMON-STOCK> 77,865,813
<SHARES-COMMON-PRIOR> 2,934,700
<ACCUMULATED-NII-CURRENT> 8,446,742
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 54,358,150
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 295,989,454
<NET-ASSETS> 1,766,243,876
<DIVIDEND-INCOME> 22,400,683
<INTEREST-INCOME> 843,343
<OTHER-INCOME> 0
<EXPENSES-NET> 8,538,199
<NET-INVESTMENT-INCOME> 14,705,827
<REALIZED-GAINS-CURRENT> 78,504,360
<APPREC-INCREASE-CURRENT> 103,378,988
<NET-CHANGE-FROM-OPS> 196,589,175
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (11,553,936)
<DISTRIBUTIONS-OF-GAINS> (179,180,946)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,183,647
<NUMBER-OF-SHARES-REDEEMED> (8,401,373)
<SHARES-REINVESTED> 8,148,839
<NET-CHANGE-IN-ASSETS> 114,784,079
<ACCUMULATED-NII-PRIOR> 5,294,851
<ACCUMULATED-GAINS-PRIOR> 155,034,736
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,786,214
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 1,779,812,491
<PER-SHARE-NAV-BEGIN> 22.64
<PER-SHARE-NII> (0.19)
<PER-SHARE-GAIN-APPREC> (4.80)
<PER-SHARE-DIVIDEND> 0.16
<PER-SHARE-DISTRIBUTIONS> 2.48
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 22.68
<EXPENSE-RATIO> 0.96
<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
Value Fund Semi Annual Report for the fiscal period ended 3/31/97 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME>SCUDDER VALUE FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-START> SEP-30-1996
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 119,105,753
<INVESTMENTS-AT-VALUE> 136,431,294
<RECEIVABLES> 2,794,337
<ASSETS-OTHER> 14,483
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</TABLE>
