MORGAN STANLEY UNIVERSAL FUNDS INC
NSAR-B, 1998-03-03
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<PAGE>      PAGE  1
000 B000000 12/31/97
000 C000000 0001011378
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 MORGAN STANLEY UNIVERSAL FUNDS, INC.
001 B000000 811-7607
001 C000000 6175578743
002 A000000 73 TREMONT STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02108
002 D020000 3913
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000 11
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
007 C020300 HIGH YIELD PORTFOLIO
007 C030300 N
007 C010400  4
007 C020400 EQUITY GROWTH PORTFOLIO
007 C030400 N
007 C010500  5
007 C020500 VALUE PORTFOLIO
007 C030500 N
007 C010600  6
007 C020600 MID CAP VALUE PORTFOLIO
007 C030600 N
007 C010700  7
007 C020700 GLOBAL EQUITY PORTFOLIO
007 C030700 N
007 C010800  8
007 C020800 INTERNATIONAL MAGNUM PORTFOLIO
007 C030800 N
007 C010900  9
007 C020900 ASIAN EQUITY PORTFOLIO
007 C030900 N
007 C011000 10
<PAGE>      PAGE  2
007 C021000 U.S. REAL ESTATE PORTFOLIO
007 C031000 N
007 C011100 11
007 C021100 EMERGING MARKETS DEBT PORTFOLIO
007 C031100 N
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
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
015 B00AA02 C
015 C01AA02 BROOKLYN
015 C02AA02 NY
015 C03AA02 11245
015 E01AA02 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   71
019 C00AA00 MORGANSTAN
020 A000001 MERRILL LYNCH AND CO., INC.
020 B000001 13-5674085
020 C000001     35
020 A000002 BARING SECURITIES, INC.
020 B000002 04-2455153
020 C000002     28
020 A000003 JARDINE FLEMING
020 B000003 04-2455153
020 C000003     25
020 A000004 UBS SECURITIES, INC.
020 B000004 13-2932996
<PAGE>      PAGE  3
020 C000004     23
020 A000005 CREDIT LYONNAIS
020 B000005 13-5674085
020 C000005     20
020 A000006 W.I. CARR (AMERICA), LTD.
020 B000006 13-2927466
020 C000006     19
020 A000007 AUTRANET, INC.
020 B000007 13-2961507
020 C000007     18
020 A000008 GOLDMAN SACHS
020 B000008 13-5108880
020 C000008     18
020 A000009 PEREGRINE SECURITIES CORP.
020 B000009 13-2972987
020 C000009     17
020 A000010 INSTINET CORP.
020 B000010 13-3443395
020 C000010     14
021  000000      537
022 A000001 THE CHASE MANHATTAN BANK
022 B000001 13-2633612
022 C000001   3766260
022 D000001      5975
022 A000002 LEHMAN BROTHERS, INC.
022 B000002 94-2537674
022 C000002     19120
022 D000002     10473
022 A000003 GOLDMAN SACHS
022 B000003 13-5108880
022 C000003     15927
022 D000003      8252
022 A000004 MORGAN (J.P.) SECURITIES, INC.
022 B000004 13-3224016
022 C000004      9073
022 D000004      7273
022 A000005 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
022 B000005 13-2747129
022 C000005      9731
022 D000005      5786
022 A000006 CS FIRST BOSTON CORP.
022 B000006 13-5659485
022 C000006      8113
022 D000006      6696
022 A000007 MERRILL LYNCH AND CO., INC.
022 B000007 13-5674085
022 C000007      8952
022 D000007      3257
022 A000008 GREENWICH CAPITAL MARKETS, INC.
022 C000008      6518
022 D000008      3727
<PAGE>      PAGE  4
022 A000009 SALOMON BROTHERS, INC.
022 B000009 13-3082694
022 C000009      7456
022 D000009      3216
022 A000010 BEAR STEARNS & CO., INC.
022 B000010 13-3299429
022 C000010      4003
022 D000010      1610
023 C000000    3883570
023 D000000      65130
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<PAGE>      PAGE  5
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010 B000101 801-15757
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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
010 C010201 WEST CONSHOHOCKEN
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010 A000202 CHASE GLOBAL FUNDS SERVICES COMPANY
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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<PAGE>      PAGE  16
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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008 A000401 MORGAN STANLEY ASSET MANAGEMENT INC.
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010 A000401 MORGAN STANLEY ASSET MANAGEMENT INC.
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<PAGE>      PAGE  49
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<PAGE>      PAGE  51
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SIGNATURE   JOANNA M. HAIGNEY                            
TITLE       TREASURER           
 


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<TOTAL-ASSETS>                                  27,975
<PAYABLE-FOR-SECURITIES>                         1,222
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          375
<TOTAL-LIABILITIES>                              1,597
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<PAID-IN-CAPITAL-COMMON>                        27,106
<SHARES-COMMON-STOCK>                            2,727
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                        (256)
<OVERDISTRIBUTION-NII>                               0
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<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         (472)
<NET-ASSETS>                                    26,378
<DIVIDEND-INCOME>                                    1
<INTEREST-INCOME>                                  838
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (120)
<NET-INVESTMENT-INCOME>                            719
<REALIZED-GAINS-CURRENT>                            20
<APPREC-INCREASE-CURRENT>                        (472)
<NET-CHANGE-FROM-OPS>                              267
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        (694)
<DISTRIBUTIONS-OF-GAINS>                         (301)
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<NUMBER-OF-SHARES-SOLD>                         41,254
<NUMBER-OF-SHARES-REDEEMED>                   (14,879)
<SHARES-REINVESTED>                                731
<NET-CHANGE-IN-ASSETS>                          26,378
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               71
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    183
<AVERAGE-NET-ASSETS>                            16,275
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                   0.28
<PER-SHARE-GAIN-APPREC>                         (0.22)
<PER-SHARE-DIVIDEND>                            (0.27)
<PER-SHARE-DISTRIBUTIONS>                       (0.12)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.67
<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>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               DEC-30-1997
<INVESTMENTS-AT-COST>                           39,631
<INVESTMENTS-AT-VALUE>                          35,900
<RECEIVABLES>                                      663
<ASSETS-OTHER>                                     391
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  36,954
<PAYABLE-FOR-SECURITIES>                           636
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        2,220
<TOTAL-LIABILITIES>                              2,856
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        38,845
<SHARES-COMMON-STOCK>                            3,610
<SHARES-COMMON-PRIOR>                            1,206
<ACCUMULATED-NII-CURRENT>                           14
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (925)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       (3,836)
<NET-ASSETS>                                    34,098
<DIVIDEND-INCOME>                                  344
<INTEREST-INCOME>                                  165
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (403)
<NET-INVESTMENT-INCOME>                            106
<REALIZED-GAINS-CURRENT>                           195
<APPREC-INCREASE-CURRENT>                      (3,701)
<NET-CHANGE-FROM-OPS>                          (3,400)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        (226)
<DISTRIBUTIONS-OF-GAINS>                       (1,000)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         39,684
<NUMBER-OF-SHARES-REDEEMED>                   (13,972)
<SHARES-REINVESTED>                              1,223    
<NET-CHANGE-IN-ASSETS>                          22,309
<ACCUMULATED-NII-PRIOR>                             83
<ACCUMULATED-GAINS-PRIOR>                          654
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              279
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    922
<AVERAGE-NET-ASSETS>                            22,396    
<PER-SHARE-NAV-BEGIN>                             9.78
<PER-SHARE-NII>                                   0.04
<PER-SHARE-GAIN-APPREC>                           0.00
<PER-SHARE-DIVIDEND>                            (0.07)
<PER-SHARE-DISTRIBUTIONS>                       (0.30)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.45
<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>                   OTHER
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-02-1997
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                           11,546
<INVESTMENTS-AT-VALUE>                          12,482
<RECEIVABLES>                                      133
<ASSETS-OTHER>                                       1
<OTHER-ITEMS-ASSETS>                                 1
<TOTAL-ASSETS>                                  12,617
<PAYABLE-FOR-SECURITIES>                           144
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           54
<TOTAL-LIABILITIES>                                198
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        11,307
<SHARES-COMMON-STOCK>                              975
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            1
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            175
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           936
<NET-ASSETS>                                    12,419
<DIVIDEND-INCOME>                                   55
<INTEREST-INCOME>                                   14 
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    (47)
<NET-INVESTMENT-INCOME>                             22
<REALIZED-GAINS-CURRENT>                           665 
<APPREC-INCREASE-CURRENT>                          936
<NET-CHANGE-FROM-OPS>                            1,623
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         (21)
<DISTRIBUTIONS-OF-GAINS>                         (490)
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<NUMBER-OF-SHARES-SOLD>                         11,079
<NUMBER-OF-SHARES-REDEEMED>                      (146)
<SHARES-REINVESTED>                                374
<NET-CHANGE-IN-ASSETS>                          12,419
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               30
<INTEREST-EXPENSE>                                   0
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<AVERAGE-NET-ASSETS>                             5,538
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                   0.02
<PER-SHARE-GAIN-APPREC>                           3.27
<PER-SHARE-DIVIDEND>                            (0.02)
<PER-SHARE-DISTRIBUTIONS>                       (0.53)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.74
<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>                   OTHER
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-02-1997
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                           12,701
<INVESTMENTS-AT-VALUE>                          12,836
<RECEIVABLES>                                      372 
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                13
<TOTAL-ASSETS>                                  13,221
<PAYABLE-FOR-SECURITIES>                           330
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<TOTAL-LIABILITIES>                                461
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<PAID-IN-CAPITAL-COMMON>                        12,530
<SHARES-COMMON-STOCK>                            1,225
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<ACCUMULATED-NET-GAINS>                             78
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           150
<NET-ASSETS>                                    12,760
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                  600
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    (66)
<NET-INVESTMENT-INCOME>                            534
<REALIZED-GAINS-CURRENT>                           222 
<APPREC-INCREASE-CURRENT>                          150
<NET-CHANGE-FROM-OPS>                              906
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        (526)
<DISTRIBUTIONS-OF-GAINS>                         (150)
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<NUMBER-OF-SHARES-SOLD>                         20,590
<NUMBER-OF-SHARES-REDEEMED>                    (8,736)
<SHARES-REINVESTED>                                676
<NET-CHANGE-IN-ASSETS>                          12,760
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               38
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    162
<AVERAGE-NET-ASSETS>                             9,460    
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                   0.46
<PER-SHARE-GAIN-APPREC>                           0.53
<PER-SHARE-DIVIDEND>                            (0.45)
<PER-SHARE-DISTRIBUTIONS>                       (0.13)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.41
<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>                   OTHER
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-02-1997
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                           15,054
<INVESTMENTS-AT-VALUE>                          15,875
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<ASSETS-OTHER>                                       0 
<OTHER-ITEMS-ASSETS>                                 5
<TOTAL-ASSETS>                                  16,047
<PAYABLE-FOR-SECURITIES>                         1,294  
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           46
<TOTAL-LIABILITIES>                              1,340
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        13,746
<SHARES-COMMON-STOCK>                            1,252
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                             (2)
<ACCUMULATED-NET-GAINS>                            129
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<ACCUM-APPREC-OR-DEPREC>                           834
<NET-ASSETS>                                    14,707
<DIVIDEND-INCOME>                                  130
<INTEREST-INCOME>                                   55
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    (89)
<NET-INVESTMENT-INCOME>                             96
<REALIZED-GAINS-CURRENT>                           332 
<APPREC-INCREASE-CURRENT>                          834
<NET-CHANGE-FROM-OPS>                            1,262
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         (96)
<DISTRIBUTIONS-OF-GAINS>                         (205)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         14,602
<NUMBER-OF-SHARES-REDEEMED>                    (1,028)
<SHARES-REINVESTED>                                172  
<NET-CHANGE-IN-ASSETS>                          14,707
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               62
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    188
<AVERAGE-NET-ASSETS>                             7,788
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                   0.08
<PER-SHARE-GAIN-APPREC>                           1.92
<PER-SHARE-DIVIDEND>                            (0.08)
<PER-SHARE-DISTRIBUTIONS>                       (0.18)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.74
<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> 03
   <NAME> HIGH YIELD PORTFOLIO
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   OTHER
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-02-1997
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                           11,931
<INVESTMENTS-AT-VALUE>                          12,263
<RECEIVABLES>                                      262
<ASSETS-OTHER>                                       8
<OTHER-ITEMS-ASSETS>                                 0  
<TOTAL-ASSETS>                                  12,533
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           43
<TOTAL-LIABILITIES>                                 43
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        12,113
<SHARES-COMMON-STOCK>                            1,180 
<SHARES-COMMON-PRIOR>                                0
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<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           332
<NET-ASSETS>                                    12,490
<DIVIDEND-INCOME>                                   21
<INTEREST-INCOME>                                  778
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    (79)
<NET-INVESTMENT-INCOME>                            720
<REALIZED-GAINS-CURRENT>                           191 
<APPREC-INCREASE-CURRENT>                          332
<NET-CHANGE-FROM-OPS>                            1,243
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        (719)
<DISTRIBUTIONS-OF-GAINS>                         (147)
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<NUMBER-OF-SHARES-SOLD>                         11,950
<NUMBER-OF-SHARES-REDEEMED>                       (94)
<SHARES-REINVESTED>                                257
<NET-CHANGE-IN-ASSETS>                          12,490
<ACCUMULATED-NII-PRIOR>                              0
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<OVERDISTRIB-NII-PRIOR>                              0
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<GROSS-ADVISORY-FEES>                               49
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    164 
<AVERAGE-NET-ASSETS>                             9,742
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                   0.63
<PER-SHARE-GAIN-APPREC>                           0.72
<PER-SHARE-DIVIDEND>                            (0.63)
<PER-SHARE-DISTRIBUTIONS>                       (0.13)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.59
<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>                   OTHER
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-02-1997
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                           19,986
<INVESTMENTS-AT-VALUE>                          19,585
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<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                               147
<TOTAL-ASSETS>                                  19,934
<PAYABLE-FOR-SECURITIES>                           984
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           95
<TOTAL-LIABILITIES>                              1,079
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        19,155
<SHARES-COMMON-STOCK>                            1,817
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
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<ACCUMULATED-NET-GAINS>                           (45)
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<ACCUM-APPREC-OR-DEPREC>                         (239)
<NET-ASSETS>                                    18,855
<DIVIDEND-INCOME>                                  269
<INTEREST-INCOME>                                  105
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (167)
<NET-INVESTMENT-INCOME>                            207
<REALIZED-GAINS-CURRENT>                           329 
<APPREC-INCREASE-CURRENT>                        (239)
<NET-CHANGE-FROM-OPS>                              297
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        (560)
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<NUMBER-OF-SHARES-SOLD>                         28,522
<NUMBER-OF-SHARES-REDEEMED>                    (9,913)
<SHARES-REINVESTED>                                546
<NET-CHANGE-IN-ASSETS>                          18,855
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              116 
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    402
<AVERAGE-NET-ASSETS>                            14,516
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                   0.13
<PER-SHARE-GAIN-APPREC>                           0.59
<PER-SHARE-DIVIDEND>                            (0.32)
<PER-SHARE-DISTRIBUTIONS>                       (0.02)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.38
<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>                   OTHER
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-02-1997
<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                           10,583
<INVESTMENTS-AT-VALUE>                          11,611
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<OTHER-ITEMS-ASSETS>                                 0
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<PAYABLE-FOR-SECURITIES>                           328
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           36 
<TOTAL-LIABILITIES>                                364 
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        10,254
<SHARES-COMMON-STOCK>                              861
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            1
<OVERDISTRIBUTION-NII>                               0
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<ACCUM-APPREC-OR-DEPREC>                         1,028
<NET-ASSETS>                                    11,461
<DIVIDEND-INCOME>                                   55
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<EXPENSES-NET>                                    (66)
<NET-INVESTMENT-INCOME>                             13 
<REALIZED-GAINS-CURRENT>                           778 
<APPREC-INCREASE-CURRENT>                        1,028
<NET-CHANGE-FROM-OPS>                            1,819
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         (12)
<DISTRIBUTIONS-OF-GAINS>                         (600)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          9,968
<NUMBER-OF-SHARES-REDEEMED>                      (102)
<SHARES-REINVESTED>                                388
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<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    135
<AVERAGE-NET-ASSETS>                             6,346
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                   0.02
<PER-SHARE-GAIN-APPREC>                           4.05
<PER-SHARE-DIVIDEND>                            (0.02)
<PER-SHARE-DISTRIBUTIONS>                       (0.73)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.32
<EXPENSE-RATIO>                                   1.05
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

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

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001011378
<NAME> MORGAN STANLEY UNIVERSAL FUNDS, INC.
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   <NUMBER> 05
   <NAME> VALUE PORTFOLIO
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<S>                             <C>
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<PERIOD-END>                               DEC-31-1997
<INVESTMENTS-AT-COST>                           14,112
<INVESTMENTS-AT-VALUE>                          14,619
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<PAYABLE-FOR-SECURITIES>                            17
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<SHARES-COMMON-PRIOR>                                0
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<ACCUMULATED-NET-GAINS>                            (2) 
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<OTHER-INCOME>                                       0
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<NET-INVESTMENT-INCOME>                            116 
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        (119)    
<DISTRIBUTIONS-OF-GAINS>                         (251)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         13,979
<NUMBER-OF-SHARES-REDEEMED>                       (93)
<SHARES-REINVESTED>                                276 
<NET-CHANGE-IN-ASSETS>                          14,664
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<PER-SHARE-NAV-BEGIN>                            10.00
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<PER-SHARE-DIVIDEND>                            (0.10)
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<EXPENSE-RATIO>                                   0.85
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>


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