<PAGE> PAGE 1
000 A000000 09/30/94
000 C000000 0000893247
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 BEAR STEARNS EMERGING MARKETS DEBT FUND
001 B000000 811-7290
001 C000000 3027912919
002 A000000 245 PARK AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10167
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
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 A000001 BEA ASSOCIATES
008 B000001 A
008 C000001 801-37170
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10022
010 A000001 BEAR STEARNS FUNDS MANAGEMENT INC
010 B000001 801-29862
010 C010001 NEW YORK
010 C020001 NY
010 C030001 10167
010 A000002 PFPC INC.
010 B000002 85-1196
010 C010002 WILMINGTON
010 C020002 DE
010 C030002 19809
012 A000001 PFPC INC
012 B000001 85-1196
012 C010001 WILMINGTON
<PAGE> PAGE 2
012 C020001 DE
012 C030001 19809
013 A000001 DELOITTE & TOUCHE, LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10019
015 A000001 BROWN BROTHERS HARRIMAN & CO
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02109
015 E020001 X
018 000000 Y
019 A000000 N
019 B000000 0
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 BROWN BROTHERS HARRIMAN & COMPANY
022 B000001 13-4973745
022 C000001 10060
022 D000001 9296
022 A000002 BARCLAYS DE ZOETE WED
022 B000002 13-3551367
022 C000002 696
022 D000002 5385
022 A000003 CHEMICAL BANK
022 B000003 13-2624428
022 C000003 838
022 D000003 3379
022 A000004 SALOMON BROTHERS
022 B000004 13-3082694
022 C000004 771
022 D000004 1605
022 A000005 MERRILL LYNCH
022 B000005 13-5674085
022 C000005 1991
022 D000005 123
022 A000006 MARINE MIDLAND BANK
022 B000006 13-5101370
022 C000006 1484
022 D000006 0
022 A000007 MORGAN STANLEY
<PAGE> PAGE 3
022 B000007 13-2655998
022 C000007 1250
022 D000007 164
022 A000008 BT SECURITIES
022 B000008 00-0000000
022 C000008 0
022 D000008 1311
022 A000009 LEHMAN BROTHERS
022 B000009 13-2518466
022 C000009 846
022 D000009 386
022 A000010 CHASE MANHATTAN
022 B000010 13-2633613
022 C000010 1000
022 D000010 0
023 C000000 19815
023 D000000 24422
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 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
028 A010000 523
028 A020000 0
028 A030000 0
028 A040000 1566
028 B010000 164
028 B020000 0
028 B030000 0
028 B040000 829
028 C010000 236
028 C020000 1218
028 C030000 0
028 C040000 1195
028 D010000 30
028 D020000 0
028 D030000 0
<PAGE> PAGE 4
028 D040000 979
028 E010000 333
028 E020000 0
028 E030000 0
028 E040000 591
028 F010000 68
028 F020000 511
028 F030000 0
028 F040000 854
028 G010000 1354
028 G020000 1729
028 G030000 0
028 G040000 6014
028 H000000 1354
029 000000 Y
030 A000000 41
030 B000000 4.50
030 C000000 0.00
031 A000000 38
031 B000000 0
032 000000 3
033 000000 0
034 000000 N
035 000000 0
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 100
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 55
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 50000
048 A020000 0.800
048 B010000 50000
048 B020000 0.700
048 C010000 0
048 C020000 0.000
048 D010000 0
<PAGE> PAGE 5
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 100000
048 K020000 0.500
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 Y
053 B000000 Y
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 N
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 N
061 000000 10000
062 A000000 Y
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
<PAGE> PAGE 6
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 4.9
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 94.5
062 R000000 0.0
063 A000000 0
063 B000000 6.7
064 A000000 N
064 B000000 Y
065 000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 Y
069 000000 N
070 A010000 Y
070 A020000 N
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 Y
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 N
<PAGE> PAGE 7
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 Y
070 Q020000 N
070 R010000 Y
070 R020000 N
071 A000000 5570
071 B000000 8241
071 C000000 40130
071 D000000 14
072 A000000 6
072 B000000 2087
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 175
072 G000000 99
072 H000000 0
072 I000000 20
072 J000000 32
072 K000000 0
072 L000000 22
072 M000000 8
072 N000000 15
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 12
072 S000000 33
072 T000000 55
072 U000000 29
072 V000000 0
072 W000000 31
072 X000000 531
072 Y000000 94
072 Z000000 1650
072AA000000 210
072BB000000 801
072CC010000 1863
072CC020000 0
072DD010000 1615
072DD020000 0
072EE000000 1209
073 A010000 0.3350
073 A020000 0.0000
073 B000000 0.2480
073 C000000 0.0000
074 A000000 170
074 B000000 0
074 C000000 2091
<PAGE> PAGE 8
074 D000000 40467
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 890
074 K000000 0
074 L000000 1036
074 M000000 218
074 N000000 44872
074 O000000 1627
074 P000000 56
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 349
074 S000000 0
074 T000000 42840
074 U010000 4761
074 U020000 0
074 V010000 9.00
074 V020000 0.00
074 W000000 0.0000
074 X000000 2309
074 Y000000 0
075 A000000 0
075 B000000 43593
076 000000 0.00
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 Y
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
078 000000 N
080 A000000 GULF SELECT COMPANY
080 C000000 0
081 A000000 N
081 B000000 0
<PAGE> PAGE 9
082 A000000 Y
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 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
SIGNATURE WENDY MCGEE
TITLE LEGAL ASSISTANT
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 1
<NAME> BEAR STEARNS EMERGING MARKETS DEBT FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1994
<PERIOD-END> SEP-30-1994
<INVESTMENTS-AT-COST> 46771212
<INVESTMENTS-AT-VALUE> 42558133
<RECEIVABLES> 1925872
<ASSETS-OTHER> 388068
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 42872073
<PAYABLE-FOR-SECURITIES> 1626685
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 405803
<TOTAL-LIABILITIES> 2032488
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 47592180
<SHARES-COMMON-STOCK> 4760940
<SHARES-COMMON-PRIOR> 5089824
<ACCUMULATED-NII-CURRENT> 59949
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (580870)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (4231674)
<NET-ASSETS> 42839585
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2086785
<OTHER-INCOME> 0
<EXPENSES-NET> 437123
<NET-INVESTMENT-INCOME> 1649662
<REALIZED-GAINS-CURRENT> (590337)
<APPREC-INCREASE-CURRENT> 1844770
<NET-CHANGE-FROM-OPS> 2904095
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1615319
<DISTRIBUTIONS-OF-GAINS> 1208826
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1353705
<NUMBER-OF-SHARES-REDEEMED> 6014064
<SHARES-REINVESTED> 1729341
<NET-CHANGE-IN-ASSETS> (2851068)
<ACCUMULATED-NII-PRIOR> 25606
<ACCUMULATED-GAINS-PRIOR> 1218293
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 174849
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 530636
<AVERAGE-NET-ASSETS> 43592862
<PER-SHARE-NAV-BEGIN> 8.98
<PER-SHARE-NII> 0.34
<PER-SHARE-GAIN-APPREC> 0.27
<PER-SHARE-DIVIDEND> 0.34
<PER-SHARE-DISTRIBUTIONS> 0.25
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.00
<EXPENSE-RATIO> 2
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
