HERCULES FUNDS INC
NSAR-A, 1995-03-15
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<PAGE>      PAGE  1
000 A000000 12/31/94
000 C000000 0000910241
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 HERCULES FUNDS INC.
001 B000000 811-7936
001 C000000 6123421134
002 A000000 222 SOUTH NINTH STREET
002 B000000 MINNEAPOLIS
002 C000000 MN
002 D010000 55402
002 D020000 3804
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
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007 C010100  1
007 C020100 NORTH AMERICAN GROWTH AND INCOME FUND
007 C030100 N
007 C010200  2
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007 C030200 N
007 C010300  3
007 C020300 PACIFIC BASIN VALUE FUND
007 C030300 N
007 C010400  4
007 C020400 LATIN AMERICAN VALUE FUND
007 C030400 N
007 C010500  5
007 C020500 WORLD BOND FUND
007 C030500 N
007 C010600  6
007 C020600 GLOBAL SHORT-TERM FUND
007 C030600 N
007 C010700  7
007 C020700 MONEY MARKET FUND
007 C030700 N
007 C010800  8
007 C020800 EMERGING MARKETS DEBT FUND
007 C030800 N
007 C010900  9
007 C011000 10
007 C011100 11
007 C011200 12
<PAGE>      PAGE  2
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007 C012000 20
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007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
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010 A00AA01 HERCULES INTERNATIONAL MANAGEMENT LLC
010 B00AA01 801-44592
010 C01AA01 MINNEAPOLIS
010 C02AA01 MN
010 C03AA01 55402
010 C04AA01 3804
011 A00AA01 PIPER JAFFRAY INC.
011 B00AA01 8-15204
011 C01AA01 MINNEAPOLIS
011 C02AA01 MN
011 C03AA01 55402
011 C04AA01 3804
012 A00AA01 INVESTORS FIDUCIARY TRUST COMPANY
012 B00AA01 85-00535
012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 64105
012 C04AA01 1716
013 A00AA01 KPMG PEAT MARWICK, LLP
013 B01AA01 MINNEAPOLIS
013 B02AA01 MN
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014 A00AA01 PIPER JAFFRAY INC.
014 B00AA01 8-15204
015 A00AA01 INVESTORS FIDUCIARY TRUST COMPANY
015 B00AA01 C
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015 C02AA01 MO
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<PAGE>      PAGE  3
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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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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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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<PAGE>      PAGE  38
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<PAGE>      PAGE  39
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SIGNATURE   STEVE GAST                                   
TITLE       ACCOUNTING ASSOC.   
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910241
<NAME> HERCULES FUNDS INC.
<SERIES>
   <NUMBER> 1
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910241
<NAME> HERCULES FUNDS INC.
<SERIES>
   <NUMBER> 2
   <NAME> EUROPEAN VALUE FUND
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<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910241
<NAME> HERCULES FUNDS INC.
<SERIES>
   <NUMBER> 3
   <NAME> PACIFIC BASIN VALUE FUND
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<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910241
<NAME> HERCULES FUNDS INC.
<SERIES>
   <NUMBER> 4
   <NAME> LATIN AMERICAN VALUE FUND
<MULTIPLIER> 1000
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910241
<NAME> HERCULES FUNDS INC.
<SERIES>
   <NUMBER> 5
   <NAME> WORLD BOND FUND
<MULTIPLIER> 1000
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910241
<NAME> HERCULES FUNDS INC.
<SERIES>
   <NUMBER> 6
   <NAME> GLOBAL SHORT-TERM FUND
<MULTIPLIER> 1000
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910241
<NAME> HERCULES FUNDS INC.
<SERIES>
   <NUMBER> 7
   <NAME> MONEY MARKET FUND
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<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000910241
<NAME> HERCULES FUNDS INC.
<SERIES>
   <NUMBER> 8
   <NAME> EMERGING MARKETS DEBT FUND
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1995
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