1838 INVESTMENT ADVISORS FUNDS
NSAR-A, 1997-06-27
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<PAGE>      PAGE  1
000 A000000 04/30/97
000 C000000 0000933996
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 1838 INVESTMENT ADVISORS FUNDS
001 B000000 811-8902
001 C000000 6102934300
002 A000000 5 RADNOR CORP. CENTER, 100 MATSONFORD RD
002 B000000 RADNOR
002 C000000 PA
002 D010000 19087
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C020100 1838 INTERNATIONAL EQUITY FUND
007 C030100 N
007 C010200  2
007 C020200 1838 SMALL CAP EQUITY FUND
007 C030200 N
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 A00AA01 1838 INVESTMENT ADVISORS, L.P.
008 B00AA01 A
008 C00AA01 801-33025
008 D01AA01 RADNOR
008 D02AA01 PA
008 D03AA01 19087
008 A00AA02 DELETE
010 A00AA01 RODNEY SQUARE MANAGEMENT CORPORATION
010 B00AA01 801-22071
010 C01AA01 WILMINGTON
010 C02AA01 DE
010 C03AA01 19890
010 C04AA01 0001
011 A00AA01 RODNEY SQUARE DISTRIBUTORS, INC.
011 B00AA01 8-37006
<PAGE>      PAGE  2
011 C01AA01 WILMINGTON
011 C02AA01 DE
011 C03AA01 19890
011 C04AA01 0001
012 A00AA01 RODNEY SQUARE MANAGEMENT CORPORATION
012 B00AA01 85-000761
012 C01AA01 WILMINGTON
012 C02AA01 DE
012 C03AA01 19890
012 C04AA01 0001
013 A00AA01 COOPERS & LYBRAND LLP
013 B01AA01 PHILADELPHIA
013 B02AA01 PA
013 B03AA01 19103
018  00AA00 Y
019 A00AA00 Y
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019 C00AA00 1838INVEST
020 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH
020 B000001 13-5674085
020 C000001     80
020 A000002 ROSENBLATT (RICHARD A) & COMPANY
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020 C000002      9
020 A000003 O'NEIL (WILLIAM) & CO. INC.
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020 A000004 BEAR, STEARNS & CO. INC.
020 B000004 13-3299429
020 C000004      4
020 A000005 STANDARD & POOR'S SECURITIES INC.
020 B000005 13-2671951
020 C000005      3
020 A000006 SCOTT & STRINGFELLOW INVESTMENT CORP
020 B000006 54-0957557
020 C000006      3
020 A000007 SMITH BARNEY SHEARSON INC.
020 B000007 13-1912900
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020 A000008 DEUTSCHE BANK CAPITAL CORP
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020 A000009 WERTHEIM SCHRODER & CO. INC.
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020 A000010 GOLDMAN; SACHS & CO.
020 B000010 13-5108880
020 C000010      1
021  000000      117
022 A000001 MERRILL LYNCH, PIERCE, FINNER & SMITH
022 B000001 13-5674085
<PAGE>      PAGE  3
022 C000001    198108
022 D000001      1479
022 A000002 AMERICAN EXPRESS CREDIT CORP
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022 A000003 GENERAL ELECTRIC CAPITAL CORP.
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022 D000005       239
022 A000006 DEUTSCHE BANK CAPITAL CORP.
022 B000006 13-2730828
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022 A000007 GOLDMAN, SACHS & CO.
022 B000007 13-5108880
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022 A000008 SCUDDER INVESTMENT
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022 A000009 PRUDENTIAL SECURITIES INC.
022 B000009 22-2347336
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022 A000010 DIRECT ACCESS BROKERAGE SERVICE INC.
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<PAGE>      PAGE  4
032  00AA00      0
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037  00AA00 N
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039  00AA00 N
040  00AA00 N
041  00AA00 N
055 A00AA00 N
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057  00AA00 N
058 A00AA00 N
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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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024  000100 N
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<PAGE>      PAGE  9
028 D030100         0
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042 H000100   0
043  000100      0
044  000100      0
045  000100 Y
046  000100 N
047  000100 Y
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048 E010100        0
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048 F010100        0
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048 I020100 0.000
048 J010100        0
048 J020100 0.000
048 K010100        0
048 K020100 0.000
<PAGE>      PAGE  10
049  000100 N
050  000100 N
051  000100 N
052  000100 N
053 A000100 Y
053 B000100 Y
053 C000100 N
054 A000100 Y
054 B000100 Y
054 C000100 N
054 D000100 N
054 E000100 N
054 F000100 N
054 G000100 N
054 H000100 Y
054 I000100 N
054 J000100 Y
054 K000100 N
054 L000100 N
054 M000100 Y
054 N000100 N
054 O000100 N
062 A000100 N
062 B000100   0.0
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070 A010100 Y
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070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
<PAGE>      PAGE  11
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 Y
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
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<PAGE>      PAGE  12
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015 A000201 WILMINGTON TRUST COMPANY
<PAGE>      PAGE  13
015 B000201 C
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
062 B000200   0.0
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<PAGE>      PAGE  16
070 Q010200 N
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<PAGE>      PAGE  17
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SIGNATURE   ANNA BENCROWSKI                              
TITLE       SECRETARY           
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000933996
<NAME> 1838 INVESTMENT ADVISORS FUNDS
<SERIES>
   <NUMBER> 1
   <NAME> 1838 INTERNATIONAL EQUITY FUND
       
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<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000933996
<NAME> 1838 INVESTMENT ADVISORS FUNDS
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   <NUMBER> 2
   <NAME> 1838 SMALL CAP EQUITY FUND
       
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