<PAGE> PAGE 1
000 B000000 07/31/1999
000 C000000 088064
000 D000000 Y
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 INVESTMENT TRUST
001 B000000 811-43
001 C000000 6172952559
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 8
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C020400 SCUDDER LARGE COMPANY GROWTH FUND
007 C030400 N
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 SCUDDER KEMPER INVESTMENTS, INC.
008 B00AA01 A
008 C00AA01 801-252
008 D01AA01 BOSTON
008 D02AA01 MA
008 D03AA01 02110
008 D04AA01 2267
010 A00AA01 SCUDDER FUND ACCOUNTING CORPORATION, INC.
010 C01AA01 BOSTON
010 C02AA01 MA
010 C03AA01 02110
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 8-298
014 A00AA02 GRUNTAL & CO., LLC
014 B00AA02 8-31022
014 A00AA03 GMS GROUP LLC
014 B00AA03 8-23936
014 A00AA04 ZURICH CAPITAL MARKETS
014 B00AA04 8-49827
014 A00AA05 BANK HANDLOWY
014 B00AA05 8-4613
014 A00AA06 KEMPER DISTRIBUTORS, INC
014 B00AA06 8-47765
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02101
015 E01AA01 X
015 A00AA02 CITIBANK, N.A.
015 B00AA02 S
015 C01AA02 BUENOS AIRES
015 D01AA02 ARGENTINA
015 E04AA02 X
015 A00AA03 WESTPAC BANKING CORPORATION
015 B00AA03 S
015 C01AA03 SYDNEY
015 D01AA03 AUSTRALIA
015 E04AA03 X
015 A00AA04 GIROCREDIT BANK AKTIENGESELLSCHAFT DER SPARKA
015 B00AA04 S
015 C01AA04 VIENNA
015 D01AA04 AUSTRIA
015 E04AA04 X
015 A00AA05 GENERALE BANK
015 B00AA05 S
015 C01AA05 BRUSSELS
015 D01AA05 BELGIUM
015 E04AA05 X
015 A00AA06 BANKBOSTON
015 B00AA06 S
015 C01AA06 SAO PAULO
015 D01AA06 BRAZIL
<PAGE> PAGE 3
015 E04AA06 X
015 A00AA07 STATE STREET TRUST COMPANY CANADA
015 B00AA07 S
015 C01AA07 TORONTO
015 D01AA07 CANADA
015 E04AA07 X
015 A00AA09 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B00AA09 S
015 C01AA09 BOGOTA
015 D01AA09 COLOMBIA
015 E04AA09 X
015 A00AA10 DEN DANSKE BANK
015 B00AA10 S
015 C01AA10 COPENHAGEN
015 D01AA10 DENMARK
015 E04AA10 X
015 A00AA11 MERITA BANK LIMITED
015 B00AA11 S
015 C01AA11 HELSINKI
015 D01AA11 FINLAND
015 E04AA11 X
015 A00AA12 BANQUE PARIBAS
015 B00AA12 S
015 C01AA12 PARIS
015 D01AA12 FRANCE
015 E04AA12 X
015 A00AA13 DRESDNER BANK AG
015 B00AA13 S
015 C01AA13 FRANKFURT
015 D01AA13 GERMANY
015 E04AA13 X
015 A00AA14 NATIONAL BANK OF GREECE
015 B00AA14 S
015 C01AA14 ATHENS
015 D01AA14 GREECE
015 E04AA14 X
015 A00AA15 STANDARD CHARTERED BANK
015 B00AA15 S
015 C01AA15 HONG KONG
015 D01AA15 HONG KONG
015 E04AA15 X
015 A00AA17 STANDARD CHARTERED BANK
015 B00AA17 S
015 C01AA17 JAKARTA
015 D01AA17 INDONESIA
015 E04AA17 X
015 A00AA18 BANK OF IRELAND
015 B00AA18 S
015 C01AA18 DUBLIN
015 D01AA18 IRELAND
015 E04AA18 X
<PAGE> PAGE 4
015 A00AA19 BANQUE PARIBAS, AGMT. DTD
015 B00AA19 S
015 C01AA19 MILAN
015 D01AA19 ITALY
015 E04AA19 X
015 A00AA20 THE FUJI BANK LIMITED
015 B00AA20 S
015 C01AA20 TOKYO
015 D01AA20 JAPAN
015 E04AA20 X
015 A00AA21 CITIBANK, N.A.
015 B00AA21 S
015 C01AA21 SEOUL
015 D01AA21 KOREA
015 E04AA21 X
015 A00AA22 STANDARD CHARTERED BANK MALAYSIA BERHAD
015 B00AA22 S
015 C01AA22 KUALA LUMPUR
015 D01AA22 MALAYSIA
015 E04AA22 X
015 A00AA23 CITIBANK, N.A.
015 B00AA23 S
015 C01AA23 MEXICO CITY
015 D01AA23 MEXICO
015 E04AA23 X
015 A00AA24 MEESPIERSON N.V.
015 B00AA24 S
015 C01AA24 AMSTERDAM
015 D01AA24 NETHERLANDS
015 E04AA24 X
015 A00AA25 ANZ BANKING GROUP LIMITED
015 B00AA25 S
015 C01AA25 WELLINGTON
015 D01AA25 NEW ZEALAND
015 E04AA25 X
015 A00AA26 CHRISTIANA BANKOG KREDITKASSE
015 B00AA26 S
015 C01AA26 OSLO
015 D01AA26 NORWAY
015 E04AA26 X
015 A00AA27 DEUTSCH BANK A.G.
015 B00AA27 S
015 C01AA27 KARACHI
015 D01AA27 PAKISTAN
015 E04AA27 X
015 A00AA28 STANDARD CHARTERED BANK
015 B00AA28 S
015 C01AA28 MANILA
015 D01AA28 PHILIPPINES
015 E04AA28 X
015 A00AA29 BANCO COMERCIAL PORTUGUES
<PAGE> PAGE 5
015 B00AA29 S
015 C01AA29 LISBON
015 D01AA29 PORTUGAL
015 E04AA29 X
015 A00AA30 THE DEVELOPMENT BANK OF SINGAPORE, LTD.
015 B00AA30 S
015 C01AA30 SINGAPORE
015 D01AA30 SINGAPORE
015 E04AA30 X
015 A00AA31 BANCO SANTANDER S.A.
015 B00AA31 S
015 C01AA31 MADRID
015 D01AA31 SPAIN
015 E04AA31 X
015 A00AA32 THE HONGKONG AND SHANGAI BANKING CO. LTD
015 B00AA32 S
015 C01AA32 COLOMBO
015 D01AA32 SRI LANKA
015 E04AA32 X
015 A00AA33 SKANDINAVISKA ENSKILDA BANKEN
015 B00AA33 S
015 C01AA33 STOCKHOLM
015 D01AA33 SWEDEN
015 E04AA33 X
015 A00AA34 UNION BANK OF SWITZERLAND
015 B00AA34 S
015 C01AA34 ZURICH
015 D01AA34 SWITZERLAND
015 E04AA34 X
015 A00AA35 CENTRAL TRUST OF CHINA
015 B00AA35 S
015 C01AA35 TAIPEI
015 D01AA35 TAIWAN
015 E04AA35 X
015 A00AA36 STANDARD CHARTERED BANK
015 B00AA36 S
015 C01AA36 BANGKOK
015 D01AA36 THAILAND
015 E04AA36 X
015 A00AA37 CITIBANK, N.A.
015 B00AA37 S
015 C01AA37 ISTANBUL
015 D01AA37 TURKEY
015 E04AA37 X
015 A00AA38 STATE STREET BANK AND TRUST CO.
015 B00AA38 S
015 C01AA38 LONDON
015 D01AA38 UNITED KINGDOM
015 E04AA38 X
015 A00AA39 CITIBANK, N.A.
015 B00AA39 S
<PAGE> PAGE 6
015 C01AA39 MONDEVIDEO
015 D01AA39 URUGUAY
015 E04AA39 X
015 A00AA40 CITIBANK, N.A.
015 B00AA40 S
015 C01AA40 CARACAS
015 D01AA40 VENEZUELA
015 E04AA40 X
015 A00AA41 THE HONG KONG & SHANGHAI BANKING CO. LTD
015 B00AA41 S
015 C01AA41 SHANGHAI
015 D01AA41 CHINA
015 E04AA41 X
015 A00AA43 BARCLAYS BANK OF BOTSWANA LIMITED
015 B00AA43 S
015 C01AA43 GABORONE
015 D01AA43 BOTSWANA
015 E04AA43 X
015 A00AA44 BARCLAYS BANK PLC
015 B00AA44 S
015 C01AA44 NICOSIA
015 D01AA44 CYPRUS
015 E04AA44 X
015 A00AA45 CESKOSLOVENSKA OBCHODNI BANKA A.S.
015 B00AA45 S
015 C01AA45 PRAGUE
015 D01AA45 CZECH REPUBLIC
015 E04AA45 X
015 A00AA46 BARCLAYS BANK OF GHANA LIMITED
015 B00AA46 S
015 C01AA46 ACCRA
015 D01AA46 GHANA
015 E04AA46 X
015 A00AA47 CITIBANK BUDAPEST RT.
015 B00AA47 S
015 C01AA47 BUDAPEST
015 D01AA47 HUNGARY
015 E04AA47 X
015 A00AA48 BANK HAPOALIM B.M.
015 B00AA48 S
015 C01AA48 TEL AVIV
015 D01AA48 ISRAEL
015 E04AA48 X
015 A00AA49 BARCLAYS BANK OF KENYA LIMITED
015 B00AA49 S
015 C01AA49 NAIROBI
015 D01AA49 KENYA
015 E04AA49 X
015 A00AA51 CITIBANK POLAND S.A.
015 B00AA51 S
015 C01AA51 WARSAW
<PAGE> PAGE 7
015 D01AA51 POLAND
015 E04AA51 X
015 A00AA52 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B00AA52 S
015 C01AA52 JOHANNESBURG
015 D01AA52 SOUTH AFRICA
015 E04AA52 X
015 A00AA53 BARCLAYS BANK OF SWAZILAND LIMITED
015 B00AA53 S
015 C01AA53 MBABANE
015 D01AA53 SWAZILAND
015 E04AA53 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 STANDARD CHARTERED BANK
015 B00AA57 S
015 C01AA57 DHAKA
015 D01AA57 BANGLADESH
015 E04AA57 X
015 A00AA58 CESKOSLOVENSKA OBCHODNA BANKA A.S.
015 B00AA58 S
015 C01AA58 BRATISLAVA
015 D01AA58 SLOVAK REPUBLIC
015 E04AA58 X
015 A00AA59 THE BANK OF BERMUDA
015 B00AA59 S
015 C01AA59 HAMILTON
015 D01AA59 BERMUDA
015 E04AA59 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 84
019 C00AA00 SCUDDERKEM
020 A000001 GOLDMAN SACHS & COMPANY
020 B000001 13-5108880
020 C000001 540
020 A000002 SMITH BARNEY SHEARSON
020 B000002 13-1912900
020 C000002 35
020 A000003 DONALDSON LUFKIN
020 B000003 13-2741729
020 C000003 34
020 A000004 ESI
<PAGE> PAGE 8
020 B000004 13-2518466
020 C000004 30
020 A000005 RAYMOND JAMES
020 B000005 59-1237041
020 C000005 29
020 A000006 SOUTHEAST RESEARCH
020 C000006 28
020 A000007 MORGAN STANLEY AND COMPANY
020 B000007 13-2655998
020 C000007 26
020 A000008 SCHROEDER WERTHEIM & CO.
020 C000008 24
020 A000009 S G WARBUG AND COMAPNY INC.
020 B000009 13-3243112
020 C000009 23
020 A000010 CREDIT SUISSE FIRST BOSTON
020 B000010 13-5659485
020 C000010 23
021 000000 1161
022 A000001 STATE STREET BANK
022 B000001 04-1867445
022 C000001 6207321
022 D000001 0
022 A000002 DONALDSON LUFKIN & JENRETTE FIXED INC.
022 B000002 13-2741729
022 C000002 1115769
022 D000002 0
022 A000003 THE FIRST BOSTON COPORATION
022 B000003 13-5659485
022 C000003 19983
022 D000003 19989
022 A000004 GOLDMAN SACHS, & COMPANY
022 B000004 13-5108880
022 C000004 12117
022 D000004 18996
022 A000005 FIRST CHICAGO CAPITAL MARKETS
022 B000005 36-3595942
022 C000005 29995
022 D000005 0
022 A000006 CREDIT SUISSE FIRST BOSTON
022 B000006 13-5659485
022 C000006 17886
022 D000006 11063
022 A000007 SMITH BARNEY SHEARSON
022 B000007 13-1912900
022 C000007 8706
022 D000007 13177
022 A000008 PAINE WEBBER
022 B000008 13-2638166
022 C000008 7693
022 D000008 12280
<PAGE> PAGE 9
022 A000009 MERRILL LYNCH
022 B000009 13-5674085
022 C000009 8100
022 D000009 8304
022 A000010 MORGAN STANLEY & COMPANY
022 B000010 13-2655998
022 C000010 13301
022 D000010 3013
023 C000000 7496903
023 D000000 111939
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
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
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
<PAGE> PAGE 10
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
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
077 Q010000 Y
077 Q020000 N
077 Q030000 Y
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 B00AA00 CHUBB/NATIONAL 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
<PAGE> PAGE 11
028 A010400 30411
028 A020400 0
028 A030400 0
028 A040400 27515
028 B010400 24720
028 B020400 0
028 B030400 0
028 B040400 24077
028 C010400 63588
028 C020400 0
028 C030400 0
028 C040400 63738
028 D010400 0
028 D020400 0
028 D030400 0
028 D040400 0
028 E010400 0
028 E020400 0
028 E030400 0
028 E040400 0
028 F010400 0
028 F020400 0
028 F030400 0
028 F040400 0
028 G010400 118719
028 G020400 0
028 G030400 0
028 G040400 115330
028 H000400 0
037 000400 N
038 000400 0
039 000400 N
040 000400 N
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.700
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
<PAGE> PAGE 12
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
049 000400 N
050 000400 N
051 000400 N
052 000400 N
053 A000400 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
066 A000400 Y
066 B000400 N
066 C000400 N
066 D000400 Y
066 E000400 N
066 F000400 N
066 G000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 Y
<PAGE> PAGE 13
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 Y
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 N
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 N
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 496802
071 B000400 327331
071 C000400 696860
071 D000400 47
072 A000400 9
072 B000400 1155
072 C000400 3106
072 D000400 0
072 E000400 0
072 F000400 3856
072 G000400 0
072 H000400 0
072 I000400 2470
072 J000400 84
072 K000400 0
072 L000400 118
072 M000400 27
<PAGE> PAGE 14
072 N000400 105
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 34
072 S000400 16
072 T000400 0
072 U000400 0
072 V000400 0
072 W000400 64
072 X000400 6774
072 Y000400 0
072 Z000400 -2513
072AA000400 16823
072BB000400 0
072CC010400 116058
072CC020400 0
072DD010400 0
072DD020400 0
072EE000400 32235
073 A010400 0.0000
073 A020400 0.0000
073 B000400 1.7100
073 C000400 0.0000
074 A000400 1
074 B000400 49389
074 C000400 0
074 D000400 0
074 E000400 0
074 F000400 785608
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 7247
074 K000400 0
074 L000400 987
074 M000400 3
074 N000400 843235
074 O000400 12314
074 P000400 489
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 1117
074 S000400 0
074 T000400 829315
074 U010400 24864
074 U020400 0
074 V010400 33.35
074 V020400 0.00
<PAGE> PAGE 15
074 W000400 0.0000
074 X000400 48
074 Y000400 0
075 A000400 0
075 B000400 861539
076 000400 0.00
SIGNATURE JOHN MILLETTE
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
Large Company Growth Fund Annual Report for the period ended July 31, 1999 and
is qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> Scudder Large Company Growth Fund
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUL-31-1999
<PERIOD-START> NOV-01-1998
<PERIOD-END> JUL-31-1999
<INVESTMENTS-AT-COST> 596,078,067
<INVESTMENTS-AT-VALUE> 834,997,285
<RECEIVABLES> 8,233,983
<ASSETS-OTHER> 2,758
<OTHER-ITEMS-ASSETS> 634
<TOTAL-ASSETS> 843,234,660
<PAYABLE-FOR-SECURITIES> 12,313,826
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,606,387
<TOTAL-LIABILITIES> 13,920,213
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 577,323,349
<SHARES-COMMON-STOCK> 24,863,681
<SHARES-COMMON-PRIOR> 17,828,773
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 13,071,880
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 238,919,218
<NET-ASSETS> 829,314,447
<DIVIDEND-INCOME> 3,105,828
<INTEREST-INCOME> 1,154,622
<OTHER-INCOME> 0
<EXPENSES-NET> 6,773,837
<NET-INVESTMENT-INCOME> (2,513,387)
<REALIZED-GAINS-CURRENT> 16,822,623
<APPREC-INCREASE-CURRENT> 116,057,567
<NET-CHANGE-FROM-OPS> 130,366,803
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 32,234,768
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 476,042,466
<NUMBER-OF-SHARES-REDEEMED> (278,510,744)
<SHARES-REINVESTED> 31,494,884
<NET-CHANGE-IN-ASSETS> 327,158,641
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 30,997,412
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,855,969
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,773,837
<AVERAGE-NET-ASSETS> 861,538,971
<PER-SHARE-NAV-BEGIN> 28.17
<PER-SHARE-NII> (0.11)
<PER-SHARE-GAIN-APPREC> 7.00
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (1.71)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 33.35
<EXPENSE-RATIO> 1.23
</TABLE>
REPORT OF INDEPENDENT ACCOUNTANTS
To the Trustees of Investment Trust:
In planning and performing our audit of the financial statements and financial
highlights (hereinafter referred to as "financial statements") of Scudder Large
Company Growth Fund, a series of Investment Trust, for the period ended July 31,
1999, we considered its internal control, including control activities for
safeguarding securities, in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial statements and to comply with
the requirements of Form N-SAR, not to provide assurance on internal control.
The management of Scudder Large Company Growth Fund is responsible for
establishing and maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are required to assess the
expected benefits and related costs of controls. Generally, controls that are
relevant to an audit pertain to the entity's objective of preparing financial
statements for external purposes that are fairly presented in conformity with
generally accepted accounting principles. Those controls include the
safeguarding of assets against unauthorized acquisition, use, or disposition.
Because of inherent limitations in internal control, error or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation may
deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may occur and not
be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
July 31, 1999.
This report is intended solely for the information and use of management, the
Board of Trustees of Investment Trust and the Securities and Exchange
Commission.
/s/PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
Boston, Massachusetts
September 17, 1999
