DREYFUS ASSET ALLOCATION FUND INC
NSAR-B, 1999-06-29
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<PAGE>      PAGE  1
000 B000000 04/30/99
000 C000000 0000904818
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 DREYFUS ASSET ALLOCATION FUND, INC.
001 B000000 811-7710
001 C000000 2129226832
002 A000000 200 PARK AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10166
003  000000 N
004  000000 N
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006  000000 N
007 A000000 N
007 B000000  0
018  000000 Y
019 A000000 Y
019 B000000  163
019 C000000 DREYFUSFAM
020 A000001 MERRILL LYNCH PIERCE, FENNER & SMITH INC.
020 B000001 13-5674085
020 C000001     32
020 A000002 ITG INC.
020 B000002 95-4339369
020 C000002     25
020 A000003 AUTRANET, INC.
020 B000003 13-2961507
020 C000003     15
020 A000004 SANFORD C. BERNSTEIN & CO., INC.
020 B000004 13-2625874
020 C000004     12
020 A000005 PRUDENTIAL SECURITIES INCORPORATED
020 B000005 22-2347336
020 C000005     10
020 A000006 ANTHONY TUCKER INCORPORATED
020 B000006 04-2566229
020 C000006     11
020 A000007 ING BARINGS
020 B000007 95-4339369
020 C000007      8
020 A000008 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
020 B000008 13-2741729
020 C000008      8
020 A000009 CS FIRST BOSTON CORPORATION
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020 B000009 13-5659485
020 C000009      7
020 A000010 ALPHA MANAGEMENT INC.
020 B000010 94-3105302
020 C000010      7
021  000000      235
022 A000001 G.X. CLARKE & CO.
022 B000001 13-2969143
022 C000001    145351
022 D000001    147812
022 A000002 MERRILL LYNCH PIERCE, FENNER & SMITH INC.
022 B000002 13-5674085
022 C000002     34844
022 D000002     59511
022 A000003 INTERNATIONAL STRATEGY & INVESTING GROUP INC.
022 B000003 13-3599877
022 C000003     13000
022 D000003     12382
022 A000004 GOLDMAN, SACHS & CO.
022 B000004 13-5108880
022 C000004     12043
022 D000004      7484
022 A000005 GREENWICH PARTNERS, INC.
022 B000005 13-3176013
022 C000005     15633
022 D000005       440
022 A000006 MORGAN STANLEY DEAN WITTER & CO.
022 B000006 13-2655998
022 C000006     10098
022 D000006      4321
022 A000007 BEAR, STEARNS & CO. INC.
022 B000007 13-3299429
022 C000007      8768
022 D000007      2382
022 A000008 LEHMAN BROTHERS INC.
022 B000008 13-2518466
022 C000008      4368
022 D000008      5802
022 A000009 J.P. MORGAN SECURITIES INC.
022 B000009 13-3224016
022 C000009      1948
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022 A000010 CS FIRST BOSTON CORPORATION
022 B000010 13-5659485
022 C000010      4091
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080 A000000 VIGILANT INSURANCE COMPANY
080 B000000 NATIONAL UNION FIRE INSURANCE COMPANY
080 C000000   125000
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SIGNATURE   STEPHANIE D. PIERCE
TITLE       ASSISTANT TREASURER


WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000904818
<NAME> DREYFUS ASSET ALLOCATION
<MULTIPLIER> 1000

<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          APR-30-1999
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                            62494
<INVESTMENTS-AT-VALUE>                           64896
<RECEIVABLES>                                     1484
<ASSETS-OTHER>                                     107
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   66487
<PAYABLE-FOR-SECURITIES>                          1274
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          297
<TOTAL-LIABILITIES>                               1571
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         62061
<SHARES-COMMON-STOCK>                             4785
<SHARES-COMMON-PRIOR>                             6125
<ACCUMULATED-NII-CURRENT>                         1538
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         (1085)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                          2402
<NET-ASSETS>                                     64916
<DIVIDEND-INCOME>                                  745
<INTEREST-INCOME>                                 1849
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     988
<NET-INVESTMENT-INCOME>                           1606
<REALIZED-GAINS-CURRENT>                        (1224)
<APPREC-INCREASE-CURRENT>                       (4941)
<NET-CHANGE-FROM-OPS>                           (4559)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        (500)
<DISTRIBUTIONS-OF-GAINS>                        (6174)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            925
<NUMBER-OF-SHARES-REDEEMED>                     (2757)
<SHARES-REINVESTED>                                492
<NET-CHANGE-IN-ASSETS>                         (29980)
<ACCUMULATED-NII-PRIOR>                            432
<ACCUMULATED-GAINS-PRIOR>                         6314
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              588
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    988
<AVERAGE-NET-ASSETS>                             78374
<PER-SHARE-NAV-BEGIN>                            15.49
<PER-SHARE-NII>                                    .35
<PER-SHARE-GAIN-APPREC>                         (1.00)
<PER-SHARE-DIVIDEND>                             (.10)
<PER-SHARE-DISTRIBUTIONS>                       (1.17)
<RETURNS-OF-CAPITAL>                               .00
<PER-SHARE-NAV-END>                              13.57
<EXPENSE-RATIO>                                   .013
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0


</TABLE>


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