<PAGE> PAGE 1
000 B000000 09/30/2000
000 C000000 0000088051
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
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
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007 C010200 2
007 C020200 VALUE FUND
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007 C010500 5
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007 C010700 7
007 C010800 8
007 C010900 9
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008 A00AA01 SCUDDER 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 LIS SECURITIES, LLC
014 B00AA02 8-8-31022
014 A00AA03 INVESTORS BROKERAGE SEVICE, INC.
014 B00AA03 8-14989
014 A00AA04 ZURICH CAPITAL MARKETS, INC.
014 B00AA04 8-49827
014 A00AA05 KEMPER DISTRIBUTORS
014 B00AA05 8-47765
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02110
015 E01AA01 X
015 A00AA02 WESTPAC BANKING CORPORATION
015 B00AA02 S
015 C01AA02 SYDNEY
015 D01AA02 AUSTRALIA
015 E04AA02 X
015 A00AA03 ERSTE BANK DE OESTERREICHISCHEN SPARKASSEN
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015 D01AA03 AUSTRIA
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015 C01AA04 DHAKA
015 D01AA04 BANGLADESH
015 E04AA04 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
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<PAGE> PAGE 3
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 & SHENZHEN
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
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 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 BERLIN
015 D01AA17 GERMANY
015 E04AA17 X
015 A00AA18 BARCLAYS BANK OF GHANA LIMITED
015 B00AA18 S
<PAGE> PAGE 4
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 AG
015 B00AA22 S
015 C01AA22 BOMBAY
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 MILAN
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
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<PAGE> PAGE 5
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 LUMPUR
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015 E04AA30 X
015 A00AA31 CITIBANK MEXICO, S.A.
015 B00AA31 S
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015 D01AA31 MEXICO
015 E04AA31 X
015 A00AA32 MEESPIERSON N.V.
015 B00AA32 S
015 C01AA32 AMSTERDAM
015 D01AA32 NETHERLANDS
015 E04AA32 X
015 A00AA33 ANZ BANKING GROUP (NEW ZEALAND) LIMITED
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015 C01AA33 WELLINGTON
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
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015 A00AA37 STANDARD CHARTERED BANK
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015 C01AA37 MANILA
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015 A00AA38 CITIBANK POLAND, S.A.
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<PAGE> PAGE 6
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 OBCHODNA BANKA A.S.
015 B00AA41 S
015 C01AA41 BRATISLAVA
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
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 COLOMBO
015 D01AA44 SRI LANKA
015 E04AA44 X
015 A00AA45 STANDARD BANK SWAZILAND LIMITED
015 B00AA45 S
015 C01AA45 MBABANE
015 D01AA45 SWAZILAND
015 E04AA45 X
015 A00AA46 SKANDINAVISKA ENSKILDA BANKEN
015 B00AA46 S
015 C01AA46 STOCKHOLM
015 D01AA46 SWEDEN
015 E04AA46 X
015 A00AA47 UNION BANK OF SWITZERLAND AG
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
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<PAGE> PAGE 7
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 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.
015 B00AA53 S
015 C01AA53 MONTEVIDEO
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015 E04AA53 X
015 A00AA54 CITIBANK, N.A.
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015 C01AA54 CARACAS
015 D01AA54 VENEZUELA
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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 THE BANK OF BERMUDA LIMITED
015 B00AA57 S
015 C01AA57 HAMILTON
015 D01AA57 BERMUDA
015 E04AA57 X
015 A00AA58 CITIBANK, N.A.
015 B00AA58 S
015 C01AA58 BUENOS AIRES
015 D01AA58 ARGENTINA
015 E04AA58 X
015 A00AA59 STATE STREET BANK & TRUST COMPANY
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015 C02AA59 MA
015 C03AA59 02110
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<PAGE> PAGE 8
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020 B000002 13-5674085
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020 A000003 GOLDMAN SACHS
020 B000003 13-5108880
020 C000003 35
020 A000004 MORGAN STANLEY & CO
020 B000004 13-2655998
020 C000004 34
020 A000005 DONALDSON LUFKIN
020 B000005 13-2741729
020 C000005 32
020 A000006 S G WARBURG & CO INC
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020 A000007 SMITH BARNEY SHEARSON
020 B000007 13-1912900
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020 A000009 A.G. EDWARDS & SONS
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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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SIGNATURE JOHN MILLETTE
TITLE VICE PRESIDENT