MORGAN STANLEY UNIVERSAL FUNDS INC
NSAR-B, 1999-03-01
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<PAGE>      PAGE  1
000 B000000 12/31/98
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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
007 C020300 HIGH YIELD PORTFOLIO
007 C030300 N
007 C010400  4
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007 C010500  5
007 C020500 VALUE PORTFOLIO
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007 C010600  6
007 C020600 MID CAP VALUE PORTFOLIO
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<PAGE>      PAGE  2
007 C021000 U.S. REAL ESTATE PORTFOLIO
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013 A00AA01 PRICEWATERHOUSECOOPERS 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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015 C03AA02 11245
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020 A000001 INSTINET CORP.
020 B000001 13-3443395
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020 A000002 LEHMAN BROTHERS, INC.
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020 A000003 MONTGOMERY SECURITIES
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020 A000004 GOLDMAN SACHS
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<PAGE>      PAGE  3
020 C000004     39
020 A000005 DONALDSON, LUFKIN, & JENRETTE SECURITIES CORP
020 B000005 13-2747129
020 C000005     35
020 A000006 AUTRANET, INC.
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020 C000006     34
020 A000007 CS FIRST BOSTON CORP.
020 B000007 13-5659485
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020 A000008 SMITH BARNEY, HARRIS, UPHAM & CO., INC.
020 B000008 13-1912900
020 C000008     31
020 A000009 BAIRD (ROBERT W.) SECURITIES, INC.
020 B000009 13-2766571
020 C000009     24
020 A000010 MORGAN (J.P.) SECURITIES, INC.
020 B000010 13-3224016
020 C000010     21
021  000000      808
022 A000001 THE CHASE MANHATTAN BANK
022 B000001 13-2633612
022 C000001   6303111
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022 C000002    125699
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022 A000003 DONALDSON, LUFKIN, & JENRETTE SECURITIES,CORP
022 B000003 13-2747129
022 C000003    101163
022 D000003     80841
022 A000004 SALOMON BROTHERS, INC.
022 B000004 13-3082694
022 C000004     99928
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022 A000005 CS FIRST BOSTON CORP.
022 B000005 13-5659485
022 C000005     64557
022 D000005     20425
022 A000006 MERRILL LYNCH AND CO., INC.
022 B000006 13-5674085
022 C000006     52421
022 D000006     28061
022 A000007 BEAR STEARNS & CO., INC.
022 B000007 13-3299429
022 C000007     45620
022 D000007     24494
022 A000008 LEHMAN BROTHERS, INC.
022 B000008 94-2537674
022 C000008     35135
<PAGE>      PAGE  4
022 D000008     28708
022 A000009 PRUDENTIAL-BACHE SECURITIES, INC.
022 B000009 22-2347336
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022 D000009      7341
022 A000010 GREENWICH CAPITAL MARKETS, 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  10
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
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<PAGE>      PAGE  17
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<PAGE>      PAGE  45
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SIGNATURE   JOANNA M. HAIGNEY                            
TITLE       TREASURER           
 


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<NAME> MORGAN STANLEY UNIVERSAL FUNDS, INC.
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   <NUMBER> 11
   <NAME> EMERGING MARKETS DEBT PORTFOLIO
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                  12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
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<INVESTMENTS-AT-COST>                           26,112
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<PAYABLE-FOR-SECURITIES>                         1,232
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<PAID-IN-CAPITAL-COMMON>                        37,766
<SHARES-COMMON-STOCK>                            4,090
<SHARES-COMMON-PRIOR>                            2,727
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                            (77)
<ACCUMULATED-NET-GAINS>                       (11,909)    
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         (848)
<NET-ASSETS>                                    24,932
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                3,388
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (414)
<NET-INVESTMENT-INCOME>                          2,974
<REALIZED-GAINS-CURRENT>                      (11,855)
<APPREC-INCREASE-CURRENT>                        (376)
<NET-CHANGE-FROM-OPS>                         (12,231)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (2,849)
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<NUMBER-OF-SHARES-SOLD>                          7,204
<NUMBER-OF-SHARES-REDEEMED>                    (6,217)
<SHARES-REINVESTED>                                376
<NET-CHANGE-IN-ASSETS>                         (1,446)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                        (256)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                  13
<GROSS-EXPENSE>                                    557
<AVERAGE-NET-ASSETS>                            27,183
<PER-SHARE-NAV-BEGIN>                             9.67
<PER-SHARE-NII>                                   0.85
<PER-SHARE-GAIN-APPREC>                         (3.60)
<PER-SHARE-DIVIDEND>                            (0.82)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               6.10
<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-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                           41,773
<INVESTMENTS-AT-VALUE>                          36,500
<RECEIVABLES>                                      575
<ASSETS-OTHER>                                      13
<OTHER-ITEMS-ASSETS>                               400
<TOTAL-ASSETS>                                  37,488
<PAYABLE-FOR-SECURITIES>                           903
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          272
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        51,390
<SHARES-COMMON-STOCK>                            5,106
<SHARES-COMMON-PRIOR>                            3,610
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                           (101)
<ACCUMULATED-NET-GAINS>                        (9,606)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       (5,370)
<NET-ASSETS>                                    36,313
<DIVIDEND-INCOME>                                  666
<INTEREST-INCOME>                                  332
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (699)
<NET-INVESTMENT-INCOME>                            299
<REALIZED-GAINS-CURRENT>                       (8,981)  
<APPREC-INCREASE-CURRENT>                      (1,534)
<NET-CHANGE-FROM-OPS>                         (10,216)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        (198)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          3,556
<NUMBER-OF-SHARES-REDEEMED>                    (2,088)
<SHARES-REINVESTED>                                 28    
<NET-CHANGE-IN-ASSETS>                           2,215
<ACCUMULATED-NII-PRIOR>                             14
<ACCUMULATED-GAINS-PRIOR>                        (925)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              447
<INTEREST-EXPENSE>                                  26
<GROSS-EXPENSE>                                  1,233
<AVERAGE-NET-ASSETS>                            35,792    
<PER-SHARE-NAV-BEGIN>                             9.45
<PER-SHARE-NII>                                   0.06
<PER-SHARE-GAIN-APPREC>                         (2.36)
<PER-SHARE-DIVIDEND>                            (0.04)
<PER-SHARE-DISTRIBUTIONS>                            0    
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               7.11
<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>                  12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                           43,034                          
<INVESTMENTS-AT-VALUE>                          50,689
<RECEIVABLES>                                    6,877
<ASSETS-OTHER>                                       1
<OTHER-ITEMS-ASSETS>                                 1
<TOTAL-ASSETS>                                  57,568
<PAYABLE-FOR-SECURITIES>                         1,294
<SENIOR-LONG-TERM-DEBT>                              0
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<TOTAL-LIABILITIES>                              1,353
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        50,637
<SHARES-COMMON-STOCK>                            3,723
<SHARES-COMMON-PRIOR>                              975
<ACCUMULATED-NII-CURRENT>                           72
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        (2,149)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         7,655
<NET-ASSETS>                                    56,215
<DIVIDEND-INCOME>                                  255
<INTEREST-INCOME>                                   78 
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (251)
<NET-INVESTMENT-INCOME>                             82
<REALIZED-GAINS-CURRENT>                       (2,114)
<APPREC-INCREASE-CURRENT>                        6,719
<NET-CHANGE-FROM-OPS>                            4,687
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                         (211)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          3,215
<NUMBER-OF-SHARES-REDEEMED>                      (481)
<SHARES-REINVESTED>                                 14
<NET-CHANGE-IN-ASSETS>                          43,796
<ACCUMULATED-NII-PRIOR>                              1
<ACCUMULATED-GAINS-PRIOR>                          175
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    387
<AVERAGE-NET-ASSETS>                            29,593 
<PER-SHARE-NAV-BEGIN>                            12.74
<PER-SHARE-NII>                                   0.02
<PER-SHARE-GAIN-APPREC>                           2.43
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                       (0.09)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              15.10
<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>                  12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                           57,435
<INVESTMENTS-AT-VALUE>                          57,788
<RECEIVABLES>                                      695
<ASSETS-OTHER>                                       1
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<TOTAL-ASSETS>                                  58,487
<PAYABLE-FOR-SECURITIES>                        15,086
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           45
<TOTAL-LIABILITIES>                             15,131
<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-STOCK>                            4,051
<SHARES-COMMON-PRIOR>                            1,225
<ACCUMULATED-NII-CURRENT>                         (41)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           359
<NET-ASSETS>                                    43,356
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                1,670
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (193)
<NET-INVESTMENT-INCOME>                          1,477
<REALIZED-GAINS-CURRENT>                           375 
<APPREC-INCREASE-CURRENT>                          209
<NET-CHANGE-FROM-OPS>                            2,061
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        1,484
<DISTRIBUTIONS-OF-GAINS>                           489
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          2,919
<NUMBER-OF-SHARES-REDEEMED>                      (279)
<SHARES-REINVESTED>                                185
<NET-CHANGE-IN-ASSETS>                          30,596
<ACCUMULATED-NII-PRIOR>                              2
<ACCUMULATED-GAINS-PRIOR>                           78
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              110
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    286
<AVERAGE-NET-ASSETS>                            27,513    
<PER-SHARE-NAV-BEGIN>                            10.41
<PER-SHARE-NII>                                   0.37
<PER-SHARE-GAIN-APPREC>                           0.45
<PER-SHARE-DIVIDEND>                            (0.37)
<PER-SHARE-DISTRIBUTIONS>                       (0.16)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.70
<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>                  12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                           40,433
<INVESTMENTS-AT-VALUE>                          43,563
<RECEIVABLES>                                      250
<ASSETS-OTHER>                                       1 
<OTHER-ITEMS-ASSETS>                                 1
<TOTAL-ASSETS>                                  43,815
<PAYABLE-FOR-SECURITIES>                            35
<SENIOR-LONG-TERM-DEBT>                              0
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        40,246
<SHARES-COMMON-STOCK>                            3,314
<SHARES-COMMON-PRIOR>                            1,252
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                            (13) 
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<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         3,130
<NET-ASSETS>                                    43,553
<DIVIDEND-INCOME>                                  480
<INTEREST-INCOME>                                  168
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (342)
<NET-INVESTMENT-INCOME>                            306
<REALIZED-GAINS-CURRENT>                           269 
<APPREC-INCREASE-CURRENT>                        2,296
<NET-CHANGE-FROM-OPS>                            2,871
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        (282)
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<NUMBER-OF-SHARES-SOLD>                          3,307
<NUMBER-OF-SHARES-REDEEMED>                    (1,286)
<SHARES-REINVESTED>                                 41  
<NET-CHANGE-IN-ASSETS>                          28,846
<ACCUMULATED-NII-PRIOR>                              0
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<OVERDISTRIB-NII-PRIOR>                            (2)
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    483
<AVERAGE-NET-ASSETS>                            29,678
<PER-SHARE-NAV-BEGIN>                            11.74
<PER-SHARE-NII>                                   0.10
<PER-SHARE-GAIN-APPREC>                           1.48
<PER-SHARE-DIVIDEND>                            (0.09)
<PER-SHARE-DISTRIBUTIONS>                       (0.09)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.14
<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> 09
   <NAME> ASIAN EQUITY PORTFOLIO
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                  12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                           11,537
<INVESTMENTS-AT-VALUE>                          12,493
<RECEIVABLES>                                       69
<ASSETS-OTHER>                                       9
<OTHER-ITEMS-ASSETS>                               146
<TOTAL-ASSETS>                                  12,717
<PAYABLE-FOR-SECURITIES>                            15
<SENIOR-LONG-TERM-DEBT>                              0
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<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-STOCK>                            2,391
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<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        (7,062)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           953
<NET-ASSETS>                                    12,504
<DIVIDEND-INCOME>                                  224
<INTEREST-INCOME>                                   48
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (140)
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<REALIZED-GAINS-CURRENT>                       (4,709)
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<NET-CHANGE-FROM-OPS>                            (788)
<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-SOLD>                          2,849
<NUMBER-OF-SHARES-REDEEMED>                    (2,701)
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<NET-CHANGE-IN-ASSETS>                            (67)
<ACCUMULATED-NII-PRIOR>                             73
<ACCUMULATED-GAINS-PRIOR>                      (2,454)
<OVERDISTRIB-NII-PRIOR>                              0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    324
<AVERAGE-NET-ASSETS>                            11,557
<PER-SHARE-NAV-BEGIN>                             5.64
<PER-SHARE-NII>                                   0.05
<PER-SHARE-GAIN-APPREC>                         (0.42)
<PER-SHARE-DIVIDEND>                            (0.04)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               5.23
<EXPENSE-RATIO>                                   1.20
<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>                  12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                           44,021
<INVESTMENTS-AT-VALUE>                          43,650
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<TOTAL-ASSETS>                                  44,295
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        44,094
<SHARES-COMMON-STOCK>                            3,923
<SHARES-COMMON-PRIOR>                            1,817
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<OVERDISTRIBUTION-NII>                               0
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<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         (325)
<NET-ASSETS>                                    44,062
<DIVIDEND-INCOME>                                  711
<INTEREST-INCOME>                                  254
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (391)
<NET-INVESTMENT-INCOME>                            416
<REALIZED-GAINS-CURRENT>                           184 
<APPREC-INCREASE-CURRENT>                         (86)
<NET-CHANGE-FROM-OPS>                              514
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        (141)
<DISTRIBUTIONS-OF-GAINS>                         (155)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          3,567
<NUMBER-OF-SHARES-REDEEMED>                    (1,488)
<SHARES-REINVESTED>                                 26
<NET-CHANGE-IN-ASSETS>                          25,207
<ACCUMULATED-NII-PRIOR>                              0
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<OVERDISTRIB-NII-PRIOR>                           (16)
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              271 
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    611
<AVERAGE-NET-ASSETS>                            34,001
<PER-SHARE-NAV-BEGIN>                            10.38
<PER-SHARE-NII>                                   0.12
<PER-SHARE-GAIN-APPREC>                           0.81
<PER-SHARE-DIVIDEND>                            (0.04)
<PER-SHARE-DISTRIBUTIONS>                       (0.04)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.23
<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>                  12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                           28,765
<INVESTMENTS-AT-VALUE>                          31,950
<RECEIVABLES>                                    1,626
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<PAYABLE-FOR-SECURITIES>                         2,165
<SENIOR-LONG-TERM-DEBT>                              0
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<TOTAL-LIABILITIES>                              2,206 
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        27,645
<SHARES-COMMON-STOCK>                            2,103
<SHARES-COMMON-PRIOR>                              861
<ACCUMULATED-NII-CURRENT>                            0
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<ACCUMULATED-NET-GAINS>                            551
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         3,185
<NET-ASSETS>                                    31,381
<DIVIDEND-INCOME>                                  177
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<EXPENSES-NET>                                   (201)
<NET-INVESTMENT-INCOME>                             80 
<REALIZED-GAINS-CURRENT>                         1,141 
<APPREC-INCREASE-CURRENT>                        2,157
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         (70)
<DISTRIBUTIONS-OF-GAINS>                         (779)
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<NUMBER-OF-SHARES-SOLD>                          1,700
<NUMBER-OF-SHARES-REDEEMED>                      (518)
<SHARES-REINVESTED>                                 60
<NET-CHANGE-IN-ASSETS>                          19,920
<ACCUMULATED-NII-PRIOR>                              1
<ACCUMULATED-GAINS-PRIOR>                          178
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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</TABLE>

<TABLE> <S> <C>

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

<TABLE> <S> <C>

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<CIK> 0001011378
<NAME> MORGAN STANLEY UNIVERSAL FUNDS, INC.
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   <NUMBER> 05
   <NAME> VALUE PORTFOLIO
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</TABLE>


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