MORGAN STANLEY UNIVERSAL FUNDS INC
NSAR-A, 1998-09-03
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<PAGE>      PAGE  1
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007 C010100  1
007 C020100 EMERGING MARKETS EQUITY PORTFOLIO
007 C030100 N
007 C010200  2
007 C020200 FIXED INCOME PORTFOLIO
007 C030200 N
007 C010300  3
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007 C030300 N
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007 C020500 VALUE PORTFOLIO
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007 C010600  6
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<PAGE>      PAGE  2
007 C021000 U.S. REAL ESTATE PORTFOLIO
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013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10036
014 A00AA01 MORGAN STANLEY & CO. INC.
014 B00AA01 8-15869
014 A00AA02 MAS FUND DISTRIBUTION, INC.
014 B00AA02 8-36353
014 A00AA03 DEAN WITTER REYNOLDS, INC.
014 B00AA03 8-00000000
015 A00AA01 MORGAN STANLEY TRUST COMPANY
015 B00AA01 C
015 C01AA01 BROOKLYN
015 C02AA01 NY
015 C03AA01 11210
015 E04AA01 X
015 A00AA02 CHASE MANHATTAN BANK
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020 B000001 13-5674085
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020 A000002 MORGAN STANLEY & CO., INC.
020 B000002 13-2655998
020 C000002     23
020 A000003 GOLDMAN SACHS
020 B000003 13-5108880
020 C000003     22
020 A000004 LEHMAN BROTHERS, INC.
020 B000004 94-2537674
<PAGE>      PAGE  3
020 C000004     15
020 A000005 CS FIRST BOSTON CORP.
020 B000005 13-5659485
020 C000005     13
020 A000006 CROSBY SECURITIES, LTD.
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020 A000007 INSTINET CORP.
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020 C000007     10
020 A000008 MONTGOMERY SECURITIES
020 B000008 94-1701676
020 C000008     10
020 A000009 MORGAN (J.P.) SECURITIES, INC.
020 B000009 13-3224016
020 C000009     10
020 A000010 CREDIT LYONNAIS
020 B000010 13-5674085
020 C000010     10
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022 A000001 THE CHASE MANHATTAN BANK
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022 A000003 MERRILL LYNCH AND CO., INC.
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022 A000004 GOLDMAN SACHS
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022 C000004     19122
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022 A000005 SALOMON BROTHERS, INC.
022 B000005 13-3082694
022 C000005     13926
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022 A000006 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
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022 A000007 LEHMAN BROTHERS, INC.
022 B000007 94-2537674
022 C000007      7098
022 D000007      7119
022 A000008 BEAR STEARNS & CO., INC.
022 B000008 13-3299429
022 C000008      7619
022 D000008      3821
<PAGE>      PAGE  4
022 A000009 PRUDENTIAL-BACHE SECURITIES, INC.
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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  16
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008 A000401 MORGAN STANLEY ASSET MANAGEMENT INC.
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<PAGE>      PAGE  45
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<PAGE>      PAGE  49
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SIGNATURE   JOANNA M. HAIGNEY                            
TITLE       TREASURER           
 


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<INVESTMENTS-AT-COST>                           24,183
<INVESTMENTS-AT-VALUE>                          24,202
<RECEIVABLES>                                      947
<ASSETS-OTHER>                                       9
<OTHER-ITEMS-ASSETS>                                 1  
<TOTAL-ASSETS>                                  25,159
<PAYABLE-FOR-SECURITIES>                           419
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           96
<TOTAL-LIABILITIES>                                515
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        23,707
<SHARES-COMMON-STOCK>                            2,238 
<SHARES-COMMON-PRIOR>                            1,180
<ACCUMULATED-NII-CURRENT>                          678
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            241
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                            18
<NET-ASSETS>                                    24,644
<DIVIDEND-INCOME>                                   20
<INTEREST-INCOME>                                  723
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    (67)
<NET-INVESTMENT-INCOME>                            676
<REALIZED-GAINS-CURRENT>                           198 
<APPREC-INCREASE-CURRENT>                        (314)
<NET-CHANGE-FROM-OPS>                              560
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         13,018
<NUMBER-OF-SHARES-REDEEMED>                    (1,424)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                          12,154
<ACCUMULATED-NII-PRIOR>                              2
<ACCUMULATED-GAINS-PRIOR>                           43
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               42
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    106 
<AVERAGE-NET-ASSETS>                            16,991
<PER-SHARE-NAV-BEGIN>                            10.59
<PER-SHARE-NII>                                   0.43
<PER-SHARE-GAIN-APPREC>                         (0.01)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.01
<EXPENSE-RATIO>                                   0.80
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001011378
<NAME> MORGAN STANLEY UNIVERSAL FUNDS, INC.
<SERIES>
   <NUMBER> 08
   <NAME> INTERNATIONAL MAGNUM PORTFOLIO
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                           38,840
<INVESTMENTS-AT-VALUE>                          41,303
<RECEIVABLES>                                      232
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                62
<TOTAL-ASSETS>                                  41,597
<PAYABLE-FOR-SECURITIES>                         1,798 
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          213
<TOTAL-LIABILITIES>                              2,011
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        36,161
<SHARES-COMMON-STOCK>                            3,228
<SHARES-COMMON-PRIOR>                            1,817
<ACCUMULATED-NII-CURRENT>                          292
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            617
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         2,516
<NET-ASSETS>                                    39,586
<DIVIDEND-INCOME>                                  352
<INTEREST-INCOME>                                  109
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (153)
<NET-INVESTMENT-INCOME>                            308
<REALIZED-GAINS-CURRENT>                           662 
<APPREC-INCREASE-CURRENT>                        2,755
<NET-CHANGE-FROM-OPS>                            3,725
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         23,697
<NUMBER-OF-SHARES-REDEEMED>                    (6,691)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                          20,731
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                         (45)
<OVERDISTRIB-NII-PRIOR>                           (16)
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              106 
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    241
<AVERAGE-NET-ASSETS>                            26,967
<PER-SHARE-NAV-BEGIN>                            10.38
<PER-SHARE-NII>                                   0.10
<PER-SHARE-GAIN-APPREC>                           1.79
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.27
<EXPENSE-RATIO>                                   1.15
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001011378
<NAME> MORGAN STANLEY UNIVERSAL FUNDS, INC.
<SERIES>
   <NUMBER> 11
   <NAME> EMERGING MARKETS DEBT PORTFOLIO
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                           33,065
<INVESTMENTS-AT-VALUE>                          30,602
<RECEIVABLES>                                    1,011
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                             1,013
<TOTAL-ASSETS>                                  32,626
<PAYABLE-FOR-SECURITIES>                         1,970
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          127
<TOTAL-LIABILITIES>                              2,097
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        32,599
<SHARES-COMMON-STOCK>                            3,284
<SHARES-COMMON-PRIOR>                            2,727
<ACCUMULATED-NII-CURRENT>                        1,433
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        (1,038)    
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       (2,465)
<NET-ASSETS>                                    30,529
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                1,638
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (205)
<NET-INVESTMENT-INCOME>                          1,433
<REALIZED-GAINS-CURRENT>                         (782)
<APPREC-INCREASE-CURRENT>                      (1,993)
<NET-CHANGE-FROM-OPS>                          (1,342)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         23,653
<NUMBER-OF-SHARES-REDEEMED>                   (18,160)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           4,151
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                        (256)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              116
<INTEREST-EXPENSE>                                   5
<GROSS-EXPENSE>                                    311
<AVERAGE-NET-ASSETS>                            29,340
<PER-SHARE-NAV-BEGIN>                             9.67
<PER-SHARE-NII>                                   0.44
<PER-SHARE-GAIN-APPREC>                         (0.81)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.30
<EXPENSE-RATIO>                                   1.30
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001011378
<NAME> MORGAN STANLEY UNIVERSAL FUNDS, INC.
<SERIES>
   <NUMBER> 01
   <NAME> EMERGING MARKETS EQUITY PORTFOLIO
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                           43,307
<INVESTMENTS-AT-VALUE>                          35,745
<RECEIVABLES>                                      620
<ASSETS-OTHER>                                      68
<OTHER-ITEMS-ASSETS>                               506
<TOTAL-ASSETS>                                  36,939
<PAYABLE-FOR-SECURITIES>                           399
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          581
<TOTAL-LIABILITIES>                                980
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        47,235
<SHARES-COMMON-STOCK>                            4,506
<SHARES-COMMON-PRIOR>                            3,610
<ACCUMULATED-NII-CURRENT>                          243
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        (3,957)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       (7,562)
<NET-ASSETS>                                    35,959
<DIVIDEND-INCOME>                                  397
<INTEREST-INCOME>                                  188
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (356)
<NET-INVESTMENT-INCOME>                            229
<REALIZED-GAINS-CURRENT>                       (3,032)   
<APPREC-INCREASE-CURRENT>                      (3,726)
<NET-CHANGE-FROM-OPS>                          (6,529)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         16,852
<NUMBER-OF-SHARES-REDEEMED>                    (8,462)
<SHARES-REINVESTED>                                  0    
<NET-CHANGE-IN-ASSETS>                           1,861
<ACCUMULATED-NII-PRIOR>                             14
<ACCUMULATED-GAINS-PRIOR>                        (925)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              237
<INTEREST-EXPENSE>                                  13
<GROSS-EXPENSE>                                    615
<AVERAGE-NET-ASSETS>                            38,296    
<PER-SHARE-NAV-BEGIN>                             9.45
<PER-SHARE-NII>                                   0.05
<PER-SHARE-GAIN-APPREC>                         (1.52)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0    
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               7.98
<EXPENSE-RATIO>                                   1.75
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001011378
<NAME> MORGAN STANLEY UNIVERSAL FUNDS, INC.
<SERIES>
   <NUMBER> 04
   <NAME> EQUITY GROWTH PORTFOLIO
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                           31,265                          
<INVESTMENTS-AT-VALUE>                          33,113
<RECEIVABLES>                                      385
<ASSETS-OTHER>                                       1
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  33,499
<PAYABLE-FOR-SECURITIES>                         1,100
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           55
<TOTAL-LIABILITIES>                              1,155
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        28,931
<SHARES-COMMON-STOCK>                            2,194
<SHARES-COMMON-PRIOR>                              975
<ACCUMULATED-NII-CURRENT>                           43
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          1,522
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         1,848
<NET-ASSETS>                                    32,344
<DIVIDEND-INCOME>                                   91
<INTEREST-INCOME>                                   31 
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    (80)
<NET-INVESTMENT-INCOME>                             42
<REALIZED-GAINS-CURRENT>                         1,347 
<APPREC-INCREASE-CURRENT>                          912
<NET-CHANGE-FROM-OPS>                            2,301
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         21,699
<NUMBER-OF-SHARES-REDEEMED>                    (4,075)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                          19,925
<ACCUMULATED-NII-PRIOR>                              1
<ACCUMULATED-GAINS-PRIOR>                          175
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               52
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    111
<AVERAGE-NET-ASSETS>                            19,342 
<PER-SHARE-NAV-BEGIN>                            12.74
<PER-SHARE-NII>                                   0.02
<PER-SHARE-GAIN-APPREC>                           1.98
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              14.74
<EXPENSE-RATIO>                                   0.85
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001011378
<NAME> MORGAN STANLEY UNIVERSAL FUNDS, INC.
<SERIES>
   <NUMBER> 02
   <NAME> FIXED INCOME PORTFOLIO
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                           35,526
<INVESTMENTS-AT-VALUE>                          35,607
<RECEIVABLES>                                    2,367 
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 5
<TOTAL-ASSETS>                                  37,979
<PAYABLE-FOR-SECURITIES>                        10,643
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           55
<TOTAL-LIABILITIES>                             10,698
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        26,394
<SHARES-COMMON-STOCK>                            2,531
<SHARES-COMMON-PRIOR>                            1,225
<ACCUMULATED-NII-CURRENT>                          584
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            233
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                            70
<NET-ASSETS>                                    27,281
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                  657
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    (75)
<NET-INVESTMENT-INCOME>                            582
<REALIZED-GAINS-CURRENT>                           155 
<APPREC-INCREASE-CURRENT>                         (80)
<NET-CHANGE-FROM-OPS>                              657
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         14,254
<NUMBER-OF-SHARES-REDEEMED>                      (390)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                          14,521
<ACCUMULATED-NII-PRIOR>                              2
<ACCUMULATED-GAINS-PRIOR>                           78
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               42
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    114
<AVERAGE-NET-ASSETS>                            21,370    
<PER-SHARE-NAV-BEGIN>                            10.41
<PER-SHARE-NII>                                   0.23
<PER-SHARE-GAIN-APPREC>                           0.14
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.78
<EXPENSE-RATIO>                                   0.70
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001011378
<NAME> MORGAN STANLEY UNIVERSAL FUNDS, INC.
<SERIES>
   <NUMBER> 07
   <NAME> GLOBAL EQUITY PORTFOLIO
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                           27,843
<INVESTMENTS-AT-VALUE>                          30,383
<RECEIVABLES>                                      379
<ASSETS-OTHER>                                       0 
<OTHER-ITEMS-ASSETS>                                 1
<TOTAL-ASSETS>                                  30,763
<PAYABLE-FOR-SECURITIES>                            96
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           91
<TOTAL-LIABILITIES>                                187
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        27,443
<SHARES-COMMON-STOCK>                            2,321
<SHARES-COMMON-PRIOR>                            1,252
<ACCUMULATED-NII-CURRENT>                          216
<OVERDISTRIBUTION-NII>                               0 
<ACCUMULATED-NET-GAINS>                            386
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         2,531
<NET-ASSETS>                                    30,576
<DIVIDEND-INCOME>                                  270
<INTEREST-INCOME>                                   84
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (136)
<NET-INVESTMENT-INCOME>                            218
<REALIZED-GAINS-CURRENT>                           257 
<APPREC-INCREASE-CURRENT>                        1,697
<NET-CHANGE-FROM-OPS>                            2,172
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         25,048
<NUMBER-OF-SHARES-REDEEMED>                   (11,351)
<SHARES-REINVESTED>                                  0  
<NET-CHANGE-IN-ASSETS>                          15,869
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                          129
<OVERDISTRIB-NII-PRIOR>                            (2)
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               94
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    181
<AVERAGE-NET-ASSETS>                            23,726
<PER-SHARE-NAV-BEGIN>                            11.74
<PER-SHARE-NII>                                   0.09
<PER-SHARE-GAIN-APPREC>                           1.34
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.17
<EXPENSE-RATIO>                                   1.15
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001011378
<NAME> MORGAN STANLEY UNIVERSAL FUNDS, INC.
<SERIES>
   <NUMBER> 06
   <NAME> MID CAP VALUE PORTFOLIO
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                           16,836
<INVESTMENTS-AT-VALUE>                          17,826
<RECEIVABLES>                                      451
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  18,277
<PAYABLE-FOR-SECURITIES>                           432
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           42 
<TOTAL-LIABILITIES>                                474 
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        15,484
<SHARES-COMMON-STOCK>                            1,225
<SHARES-COMMON-PRIOR>                              861
<ACCUMULATED-NII-CURRENT>                           15
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          1,314
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           990
<NET-ASSETS>                                    17,803
<DIVIDEND-INCOME>                                   62
<INTEREST-INCOME>                                   29
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    (77)
<NET-INVESTMENT-INCOME>                             14 
<REALIZED-GAINS-CURRENT>                         1,136 
<APPREC-INCREASE-CURRENT>                         (38)
<NET-CHANGE-FROM-OPS>                            1,112
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         10,086
<NUMBER-OF-SHARES-REDEEMED>                    (4,856)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           6,342
<ACCUMULATED-NII-PRIOR>                              1
<ACCUMULATED-GAINS-PRIOR>                          178
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               55
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    109
<AVERAGE-NET-ASSETS>                            14,851
<PER-SHARE-NAV-BEGIN>                            13.32
<PER-SHARE-NII>                                   0.01
<PER-SHARE-GAIN-APPREC>                           1.20
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              14.53
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</TABLE>

<TABLE> <S> <C>

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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001011378
<NAME> MORGAN STANLEY UNIVERSAL FUNDS, INC.
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   <NAME> VALUE PORTFOLIO
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</TABLE>


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