<PAGE> PAGE 1
000 A000000 05/31/97
000 C000000 0000919708
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000 F000000 Y
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000 J000000 A
001 A000000 KEMPER STRATEGIC INCOME FUND
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008 A000001 ZURICH KEMPER INVESTMENTS, INC.
008 B000001 A
008 C000001 801-6634
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008 D020001 IL
008 D030001 60606
008 A000002 ZURICH INVESTMENT MANAGEMENT LIMITED
008 B000002 S
008 C000002 801-45306
008 D010002 LONDON
008 D050002 UK
008 D060002 EC4M 7RQ
012 A000001 ZURICH KEMPER SERVICE COMPANY
012 B000001 84-1713
012 C010001 KANSAS CITY
012 C020001 MO
012 C030001 64105
013 A000001 ERNST & YOUNG LLP
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<PAGE> PAGE 2
013 B020001 IL
013 B030001 60606
014 A000001 ZURICH KEMPER DISTRIBUTORS, INC.
014 B000001 8-47765
014 A000002 GRUNTAL SECURITIES, INC.
014 B000002 8-31022
014 A000003 THE GMS GROUP, INC.
014 B000003 8-23936
015 A000001 INVESTORS FIDUCIARY TRUST COMPANY
015 B000001 C
015 C010001 KANSAS CITY
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015 B000002 C
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015 C030002 11245
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<PAGE> PAGE 3
022 D000003 10
022 A000004 CS FIRST BOSTON CORPORATION
022 B000004 13-5659485
022 C000004 7658
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022 C000005 2596
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022 C000008 712
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022 A000009 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
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022 C000009 67
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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
087 A010000 SHARES OF BENEFICIAL INTEREST
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SIGNATURE JEROME L. DUFFY
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1997
SEMIANNUAL REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000919708
<NAME> KEMPER STRATEGIC INCOME FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1997
<PERIOD-START> DEC-01-1996
<PERIOD-END> MAY-31-1997
<INVESTMENTS-AT-COST> 67,623
<INVESTMENTS-AT-VALUE> 79,049
<RECEIVABLES> 1,006
<ASSETS-OTHER> 224
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 80,279
<PAYABLE-FOR-SECURITIES> 498
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<OTHER-ITEMS-LIABILITIES> 25,598
<TOTAL-LIABILITIES> 26,096
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 48,260
<SHARES-COMMON-STOCK> 3,450
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<ACCUMULATED-NET-GAINS> (6,066)
<OVERDISTRIBUTION-GAINS> 0
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<AVG-DEBT-OUTSTANDING> 0
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</TABLE>
