<PAGE> PAGE 1
000 A000000 01/31/2000
000 C000000 0000088051
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 U
001 A000000 VALUE EQUITY TRUST
001 B000000 811-1444
001 C000000 2123266200
002 A000000 TWO INTERNATIONAL PLACE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02110
002 D020000 4103
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 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 ALLDDER KEMPER INVESTMENTS, INC.
008 B00AA01 A
008 C00AA01 801-252
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10154
010 A00AA01 SCUDDER FUND ACCOUNTING CORPORATION
010 C01AA01 BOSTON
010 C02AA01 MA
010 C03AA01 02107
010 C04AA01 2291
011 A00AA01 SCUDDER INVESTOR SERVICES, INC.
011 B00AA01 8-298
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02110
<PAGE> PAGE 2
012 A00AA01 SCUDDER SERVICE CORPORATION
012 B00AA01 84-1489
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02107
013 A00AA01 PRICEWATERHOUSECOOPERS LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02110
014 A00AA01 SCUDDER INVESTOR SERVICES, INC.
014 B00AA01 8-44899
014 A00AA02 GRUNTAL & CO., INC.
014 B00AA02 8-31022
014 A00AA03 GMS GROUP LLC (A GRUNTAL AFFILIATE)
014 B00AA03 8-23936
014 A00AA04 ZURICH CAPITAL MARKETS
014 B00AA04 8-49827
014 A00AA05 BANK HANDLOWY
014 B00AA05 8-24613
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02110
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 84
019 C00AA00 SCUDDERKEM
020 A000001 BEAR STEARNS & CO
020 B000001 13-3299429
020 C000001 136
020 A000002 DEUTSCHE BANK CAPITAL
020 B000002 13-6124068
020 C000002 110
020 A000003 GOLDMAN SACHS & CO
020 B000003 13-5108880
020 C000003 94
020 A000004 SMITH BARNEY SHEARSON
020 B000004 13-1912900
020 C000004 85
020 A000005 SCHROEDER WERTHEIM & CO
020 B000005 13-2697272
020 C000005 86
020 A000006 MORGAN STANLEY & CO
020 B000006 13-2655998
020 C000006 65
020 A000007 DONALDSON LUFKIN
020 B000007 13-2741729
020 C000007 59
020 A000008 CREDIT SUISSE FIRST BOSTON
<PAGE> PAGE 3
020 B000008 13-5659485
020 C000008 57
020 A000009 SANFORD C BERNSTEIN & CO INC
020 B000009 13-2625874
020 C000009 56
020 A000010 LEHMAN BROTHERS SECURITIES
020 B000010 13-2518466
020 C000010 52
021 000000 1184
022 A000001 STATE STREET BANK
022 B000001 04-1867445
022 C000001 4943928
022 D000001 0
022 A000002 DONALDSON LUKIN & JENRETTE FIXED INC.
022 B000002 13-2741729
022 C000002 1183756
022 D000002 0
022 A000003 DLJ CAPITAL MARKETS
022 C000003 591
022 D000003 0
022 A000004 ROBERT W BAIRD & CO INC
022 C000004 12072
022 D000004 0
022 C000005 0
022 D000005 0
022 C000006 0
022 D000006 0
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 6730803
023 D000000 0
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
<PAGE> PAGE 4
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 N
041 00AA00 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
<PAGE> PAGE 5
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
063 A00AA00 0
063 B00AA00 0.0
066 A00AA00 Y
066 B00AA00 N
066 C00AA00 Y
066 D00AA00 N
066 E00AA00 N
066 F00AA00 N
066 G00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
077 A000000 Y
077 B000000 Y
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
<PAGE> PAGE 6
077 Q010000 Y
077 Q020000 N
077 Q030000 Y
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 B00AA00 NATIONAL/CHUBB INSURANCE COMPANY
080 C00AA00 150000
081 A00AA00 Y
081 B00AA00 205
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
028 A010100 31286
028 A020100 0
028 A030100 0
028 A040100 39702
028 B010100 38392
028 B020100 0
028 B030100 0
028 B040100 44795
028 C010100 36299
028 C020100 0
028 C030100 0
028 C040100 63202
028 D010100 27204
028 D020100 0
028 D030100 0
028 D040100 42573
028 E010100 34328
028 E020100 141095
028 E030100 0
028 E040100 72963
028 F010100 55009
028 F020100 43
<PAGE> PAGE 7
028 F030100 0
028 F040100 116370
028 G010100 222518
028 G020100 141139
028 G030100 0
028 G040100 379605
028 H000100 0
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 N
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 N
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 Y
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 N
070 N010100 N
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 447898
071 B000100 598528
071 C000100 2324077
<PAGE> PAGE 8
071 D000100 19
072 A000100 6
072 B000100 1403
072 C000100 23626
072 D000100 0
072 E000100 0
072 F000100 7357
072 G000100 0
072 H000100 0
072 I000100 2974
072 J000100 99
072 K000100 0
072 L000100 135
072 M000100 25
072 N000100 14
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 29
072 S000100 19
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 63
072 X000100 10715
072 Y000100 36
072 Z000100 14350
072AA000100 113870
072BB000100 0
072CC010100 0
072CC020100 314963
072DD010100 31941
072DD020100 0
072EE000100 118822
073 A010100 0.3900
073 A020100 0.0000
073 B000100 1.4500
073 C000100 0.0000
074 A000100 0
074 B000100 37050
074 C000100 0
074 D000100 0
074 E000100 0
074 F000100 2516371
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 13610
074 K000100 0
074 L000100 5137
074 M000100 17
<PAGE> PAGE 9
074 N000100 2572185
074 O000100 14465
074 P000100 1278
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 1280
074 S000100 0
074 T000100 2555162
074 U010100 85028
074 U020100 0
074 V010100 30.05
074 V020100 0.00
074 W000100 0.0000
074 X000100 137179
074 Y000100 0
075 A000100 0
075 B000100 2406602
076 000100 0.00
071 A000400 447898
071 B000400 598528
071 C000400 2324077
071 D000400 19
072 A000400 6
072 B000400 1403
072 C000400 23626
072 D000400 0
072 E000400 0
072 F000400 7357
072 G000400 0
072 H000400 0
072 I000400 2974
072 J000400 99
072 K000400 0
072 L000400 135
072 M000400 25
072 N000400 14
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 29
072 S000400 19
072 T000400 0
072 U000400 0
072 V000400 0
072 W000400 63
072 X000400 10715
072 Y000400 36
072 Z000400 14350
072AA000400 113870
<PAGE> PAGE 10
072BB000400 0
072CC010400 0
072CC020400 314963
072DD010400 31941
072DD020400 0
072EE000400 118822
073 A010400 0.3900
073 A020400 0.0000
073 B000400 1.4500
073 C000400 0.0000
074 A000400 1
074 B000400 24194
074 C000400 0
074 D000400 0
074 E000400 0
074 F000400 2164651
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 20145
074 K000400 0
074 L000400 5004
074 M000400 6
074 N000400 2214001
074 O000400 3509
074 P000400 771
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 8012
074 S000400 0
074 T000400 2201709
074 U010400 84604
074 U020400 0
074 V010400 26.02
074 V020400 0.00
074 W000400 0.0000
074 X000400 0
074 Y000400 142
SIGNATURE JOHN MILLETTE
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
Large Company Value Fund Seminnual Report for the period ended January 31, 2000
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> Jul-31-2000
<PERIOD-START> Aug-01-1999
<PERIOD-END> Jan-31-2000
<INVESTMENTS-AT-COST> 1,670,785,496
<INVESTMENTS-AT-VALUE> 2,188,845,088
<RECEIVABLES> 25,149,124
<ASSETS-OTHER> 1,056
<OTHER-ITEMS-ASSETS> 6,146
<TOTAL-ASSETS> 2,214,001,414
<PAYABLE-FOR-SECURITIES> 3,509,248
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8,782,845
<TOTAL-LIABILITIES> 12,292,093
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,612,640,577
<SHARES-COMMON-STOCK> 84,603,848
<SHARES-COMMON-PRIOR> 85,028,260
<ACCUMULATED-NII-CURRENT> 2,170,513
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 68,838,639
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 518,059,592
<NET-ASSETS> 2,201,709,321
<DIVIDEND-INCOME> 23,626,065
<INTEREST-INCOME> 1,402,607
<OTHER-INCOME> 0
<EXPENSES-NET> 10,678,176
<NET-INVESTMENT-INCOME> 14,350,496
<REALIZED-GAINS-CURRENT> 113,870,442
<APPREC-INCREASE-CURRENT> (314,962,596)
<NET-CHANGE-FROM-OPS> (186,741,658)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (31,941,232)
<DISTRIBUTIONS-OF-GAINS> (118,822,149)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 222,517,863
<NUMBER-OF-SHARES-REDEEMED> (379,604,699)
<SHARES-REINVESTED> 141,138,828
<NET-CHANGE-IN-ASSETS> (353,453,047)
<ACCUMULATED-NII-PRIOR> 19,761,249
<ACCUMULATED-GAINS-PRIOR> 73,790,346
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 7,356,580
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,714,524
<AVERAGE-NET-ASSETS> 2,384,977,936
<PER-SHARE-NAV-BEGIN> 30.05
<PER-SHARE-NII> 0.17
<PER-SHARE-GAIN-APPREC> (2.36)
<PER-SHARE-DIVIDEND> (0.39)
<PER-SHARE-DISTRIBUTIONS> (1.45)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 26.02
<EXPENSE-RATIO> 0.89
</TABLE>
