1838 INVESTMENT ADVISORS FUNDS
NSAR-B, 1997-12-30
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<PAGE>      PAGE  1
000 B000000 10/31/97
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  3
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 C020300 1838 FIXED INCOME FUND
007 C030300 N
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
<PAGE>      PAGE  2
011 A00AA01 RODNEY SQUARE DISTRIBUTORS, INC.
011 B00AA01 8-37006
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
019 B00AA00    3
019 C00AA00 1838INVEST
020 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH
020 B000001 13-5674085
020 C000001    160
020 A000002 ROSENBLATT (RICHARD A) & COMPANY
020 B000002 13-2975865
020 C000002      9
020 A000003 DRESDNER BANK
020 C000003      7
020 A000004 DEUTSCHE BANK CAPITAL CORP.
020 B000004 13-2730828
020 C000004      7
020 A000005 SMITH BARNEY SHEARSON INC.
020 B000005 13-1912900
020 C000005      6
020 A000006 SCOTT & STRINGFELLOW INVESTMENT CORP
020 B000006 54-0957557
020 C000006      6
020 A000007 O'NEIL (WILLIAM) & CO. INC.
020 B000007 95-2269163
020 C000007      6
020 A000008 BEAR STEARNS & CO. INC.
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020 A000009 DONALDSON, LUFKIN & JENRETTE SEC. CORP.
020 B000009 13-2741729
020 C000009      4
020 A000010 WERTHEIM SCHRODER & CO. INC.
020 B000010 13-2697272
020 C000010      4
021  000000      251
022 A000001 MERRILL LYNCH, PIERCE, FINNER & SMITH
022 B000001 13-5674085
<PAGE>      PAGE  3
022 C000001    241886
022 D000001      3199
022 A000002 AMERICAN EXPRESS CREDIT CORP
022 C000002    107072
022 D000002         0
022 A000003 GENERAL ELECTRIC CAPITAL CORP.
022 C000003     24111
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022 A000004 SCUDDER INVESTMENT
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022 D000004      4309
022 A000005 FORD MOTOR CREDIT CORP.
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022 A000006 GOLDMAN SACHS & CO.
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022 C000006      4877
022 D000006       954
022 A000007 SMITH BARNEY SHEARSON INC.
022 B000007 13-1912900
022 C000007      4633
022 D000007       738
022 A000008 DEUTSCHE BANK CAPITAL CORP.
022 B000008 13-2730828
022 C000008      2871
022 D000008      2361
022 A000009 DIRECT ACCESS BROKERAGE SERVICE CORP.
022 C000009      2289
022 D000009      1689
022 A000010 WILMINGTON TRUST COMPANY
022 C000010      3962
022 D000010         0
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023 D000000      22280
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<PAGE>      PAGE  4
033  00AA00      0
034  00AA00 N
035  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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060 A00AA00 Y
060 B00AA00 Y
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066 A00AA00 Y
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066 E00AA00 N
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<PAGE>      PAGE  5
086 D020000      0
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
015 A000128 SVENSKA HANDELSBANKEN
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024  000100 N
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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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
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<PAGE>      PAGE  11
070 B010100 Y
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070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
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
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070 L020100 Y
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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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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
042 A000200   0
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050  000200 N
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052  000200 N
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054 A000200 Y
054 B000200 Y
054 C000200 N
054 D000200 N
054 E000200 N
054 F000200 N
054 G000200 N
054 H000200 Y
054 I000200 N
<PAGE>      PAGE  15
054 J000200 Y
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070 H010200 Y
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<PAGE>      PAGE  16
070 M020200 N
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<PAGE>      PAGE  17
073 C000200   0.0000
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015 A000301 WILMINGTON TRUST COMPANY
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<PAGE>      PAGE  18
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048 C010300        0
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048 E010300        0
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048 F010300        0
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048 G010300        0
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048 H010300        0
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048 I020300 0.000
048 J010300        0
<PAGE>      PAGE  19
048 J020300 0.000
048 K010300        0
048 K020300 0.000
049  000300 N
050  000300 N
051  000300 N
052  000300 N
053 A000300 Y
053 B000300 Y
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062 A000300 Y
062 B000300   0.0
062 C000300   0.0
062 D000300   0.0
062 E000300   0.0
062 F000300   0.0
062 G000300   0.0
062 H000300   0.0
062 I000300   0.0
062 J000300   0.0
062 K000300   0.0
062 L000300   1.9
062 M000300  24.7
062 N000300   0.0
062 O000300   0.0
062 P000300  38.5
062 Q000300  35.8
062 R000300   0.0
063 A000300   0
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064 A000300 N
064 B000300 N
070 A010300 Y
070 A020300 Y
070 B010300 Y
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
<PAGE>      PAGE  20
070 J020300 N
070 K010300 N
070 K020300 N
070 L010300 Y
070 L020300 N
070 M010300 Y
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300      5925
071 B000300      8179
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072 A000300 12
072 B000300       21
072 C000300      184
072 D000300        0
072 E000300        0
072 F000300        0
072 G000300        4
072 H000300        0
072 I000300        3
072 J000300        1
072 K000300        0
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072 N000300        4
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072 Z000300      181
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<PAGE>      PAGE  21
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074 D000300    32219
074 E000300        0
074 F000300        0
074 G000300        0
074 H000300        0
074 I000300      611
074 J000300      735
074 K000300       27
074 L000300      444
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074 O000300     1011
074 P000300        0
074 Q000300        0
074 R010300        0
074 R020300        0
074 R030300        0
074 R040300      488
074 S000300        0
074 T000300    32537
074 U010300     3169
074 U020300        0
074 V010300    10.27
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074 W000300   0.0000
074 X000300       16
074 Y000300        0
075 A000300        0
075 B000300    18912
076  000300     0.00
SIGNATURE   ANNA BENCROWSKI                              
TITLE       SECRETARY           
 

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

<TABLE> <S> <C>

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<CIK>     0000933996 
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK>     0000933996 
<NAME> 1838 INVESTMENT ADVISORS SMALL CAP EQUITY FUND
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</TABLE>

<TABLE> <S> <C>

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<NAME> 1838 INVESTMENT ADVISORS FIXED INCOME FUND
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</TABLE>


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