<PAGE> PAGE 1
000 A000000 04/30/96
000 C000000 943734
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 RREEF REAL ESTATE SECURITIES FUND
001 B000000 811-9016
001 C000000 8009099234
002 A000000 650 CALIFORNIA STREET
002 B000000 SAN FRANCISCO
002 C000000 CA
002 D010000 94108
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 RREEF REAL ESTATE SECURITIES FUND
007 C030100 N
007 C010200 2
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 RREEF REAL ESTATE SECURITIES ADVISERS L.P.
008 B00AA01 A
008 C00AA01 801-43791
008 D01AA01 SAN FRANCISCO
008 D02AA01 CA
008 D03AA01 94108
010 A00AA01 INVESTORS BANK & TRUST COMPANY
010 C01AA01 BOSTON
010 C02AA01 MA
010 C03AA01 02111
012 A00AA01 INVESTORS BANK & TRUST COMPANY
012 B00AA01 85-720
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02111
013 A00AA01 DELOITTE & TOUCHE L.L.P.
013 B01AA01 NEW YORK
<PAGE> PAGE 2
013 B02AA01 NY
013 B03AA01 10281
015 A00AA01 INVESTORS BANK & TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02111
015 E01AA01 X
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 A000001 JEFFRIES & COMPANY
020 B000001 95-2622900
020 C000001 4
020 A000002 PRUDENTIAL SECURITIES
020 B000002 22-2347336
020 C000002 1
020 A000003 GREEN STREET ADVISORS
020 C000003 1
020 A000004 MERRILL LYNCH, PIERCE, FENNER & SMITH
020 B000004 13-5674085
020 C000004 1
020 A000005 PAINEWEBBER INC
020 B000005 13-2638166
020 C000005 1
020 A000006 SCOTT & STRINGFELLOW
020 C000006 1
020 A000007 ALEX, BROWN & SONS, INC
020 C000007 0
020 A000008 ROBERTSON, STEPHEN & COMPANY
020 C000008 0
020 A000009 JONES & ASSOCIATES, INC
020 B000009 95-3583143
020 C000009 0
020 A000010 GOLDMAN SACHS & CO
020 B000010 13-5108880
020 C000010 0
021 000000 10
022 A000001 BANK OF BOSTON
022 C000001 1935
022 D000001 0
022 A000002 GOLDMAN SACHS
022 B000002 13-5108880
022 C000002 131
022 D000002 0
022 A000003 PERSHING DIVISION, DONALDSON LUFKIN JENRETTE
022 B000003 13-2741729
022 C000003 110
022 D000003 0
022 A000004 LEHMAN BROTHERS INC
022 B000004 13-2518466
<PAGE> PAGE 3
022 C000004 98
022 D000004 0
022 A000005 MERRILL LYNCH PIERCE FENNER & SMITH INC
022 B000005 13-5674085
022 C000005 84
022 D000005 0
022 C000006 0
022 D000006 0
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 2358
023 D000000 0
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A01AA00 1
028 A02AA00 0
028 A03AA00 0
028 A04AA00 0
028 B01AA00 1000
028 B02AA00 0
028 B03AA00 0
028 B04AA00 0
028 C01AA00 0
028 C02AA00 39
028 C03AA00 0
028 C04AA00 0
028 D01AA00 154
028 D02AA00 0
<PAGE> PAGE 4
028 D03AA00 0
028 D04AA00 0
028 E01AA00 188
028 E02AA00 0
028 E03AA00 0
028 E04AA00 0
028 F01AA00 138
028 F02AA00 0
028 F03AA00 0
028 F04AA00 3
028 G01AA00 1481
028 G02AA00 39
028 G03AA00 0
028 G04AA00 3
028 H00AA00 0
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.000
048 A01AA00 100000
048 A02AA00 0.750
048 B01AA00 100000
048 B02AA00 0.650
048 C01AA00 0
048 C02AA00 0.000
<PAGE> PAGE 5
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 N
060 B00AA00 N
061 00AA00 50000
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
<PAGE> PAGE 6
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 0
063 B00AA00 0.0
066 A00AA00 Y
066 B00AA00 N
066 C00AA00 Y
066 D00AA00 N
066 E00AA00 N
066 F00AA00 N
066 G00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
070 A01AA00 Y
070 A02AA00 N
070 B01AA00 N
070 B02AA00 N
070 C01AA00 N
070 C02AA00 N
070 D01AA00 N
070 D02AA00 N
070 E01AA00 N
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 N
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 Y
070 J02AA00 N
070 K01AA00 Y
070 K02AA00 N
070 L01AA00 N
070 L02AA00 N
<PAGE> PAGE 7
070 M01AA00 N
070 M02AA00 N
070 N01AA00 N
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 N
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
071 A00AA00 2884
071 B00AA00 1400
071 C00AA00 3907
071 D00AA00 36
072 A00AA00 6
072 B00AA00 6
072 C00AA00 139
072 D00AA00 0
072 E00AA00 0
072 F00AA00 16
072 G00AA00 82
072 H00AA00 0
072 I00AA00 0
072 J00AA00 0
072 K00AA00 0
072 L00AA00 3
072 M00AA00 11
072 N00AA00 5
072 O00AA00 0
072 P00AA00 0
072 Q00AA00 0
072 R00AA00 12
072 S00AA00 12
072 T00AA00 0
072 U00AA00 10
072 V00AA00 0
072 W00AA00 17
072 X00AA00 168
072 Y00AA00 147
072 Z00AA00 124
072AA00AA00 65
072BB00AA00 35
072CC01AA00 279
072CC02AA00 0
072DD01AA00 53
072DD02AA00 0
072EE00AA00 0
073 A01AA00 0.1310
073 A02AA00 0.0000
<PAGE> PAGE 8
073 B00AA00 0.0000
073 C00AA00 0.0000
074 A00AA00 26
074 B00AA00 0
074 C00AA00 0
074 D00AA00 0
074 E00AA00 0
074 F00AA00 4661
074 G00AA00 0
074 H00AA00 0
074 I00AA00 0
074 J00AA00 135
074 K00AA00 54
074 L00AA00 12
074 M00AA00 86
074 N00AA00 4975
074 O00AA00 56
074 P00AA00 0
074 Q00AA00 0
074 R01AA00 0
074 R02AA00 0
074 R03AA00 0
074 R04AA00 38
074 S00AA00 0
074 T00AA00 4881
074 U01AA00 452
074 U02AA00 0
074 V01AA00 10.79
074 V02AA00 0.00
074 W00AA00 0.0000
074 X00AA00 9
074 Y00AA00 0
075 A00AA00 0
075 B00AA00 4188
076 00AA00 0.00
077 A000000 N
078 000000 N
080 C00AA00 0
081 B00AA00 0
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
<PAGE> PAGE 9
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE KIM REDDING
TITLE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from RREEF Real
Estate Securities Fund form NSAR for the period ended April 30, 1996 and is
qualified in its entirety by refernce to such financial statements.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 4,464,783
<INVESTMENTS-AT-VALUE> 4,661,315
<RECEIVABLES> 201,938
<ASSETS-OTHER> 85,947
<OTHER-ITEMS-ASSETS> 26,231
<TOTAL-ASSETS> 4,975,431
<PAYABLE-FOR-SECURITIES> 56,202
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 38,350
<TOTAL-LIABILITIES> 94,552
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,562,988
<SHARES-COMMON-STOCK> 452,422
<SHARES-COMMON-PRIOR> 303,769
<ACCUMULATED-NII-CURRENT> 90,993
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 30,366
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 279,122
<NET-ASSETS> 4,880,879
<DIVIDEND-INCOME> 138,800
<INTEREST-INCOME> 6,182
<OTHER-INCOME> 0
<EXPENSES-NET> 20,840
<NET-INVESTMENT-INCOME> 124,142
<REALIZED-GAINS-CURRENT> 30,366
<APPREC-INCREASE-CURRENT> 279,122
<NET-CHANGE-FROM-OPS> 433,630
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 52,938
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 145,260
<NUMBER-OF-SHARES-REDEEMED> 309
<SHARES-REINVESTED> 3,702
<NET-CHANGE-IN-ASSETS> 1,897,916
<ACCUMULATED-NII-PRIOR> 19,789
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 15,630
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 167,952
<AVERAGE-NET-ASSETS> 4,187,952
<PER-SHARE-NAV-BEGIN> 9.82
<PER-SHARE-NII> 0.27
<PER-SHARE-GAIN-APPREC> 0.83
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.13)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.79
<EXPENSE-RATIO> 1.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
