<PAGE> PAGE 1
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000 C000000 0000721358
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000 F000000 Y
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001 C000000 2127131319
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002 B000000 NEW YORK
002 C000000 NY
002 D010000 10019
003 000000 N
004 000000 N
005 000000 N
006 000000 N
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007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
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010 C02AA01 NY
010 C03AA01 10019
011 A00AA01 PAINEWEBBER INC.
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011 C02AA01 NY
011 C03AA01 10019
<PAGE> PAGE 2
011 A00AA02 DELETE
011 A00AA03 DELETE
011 A00AA04 DELETE
012 A00AA01 PFPC INC.
012 B00AA01 84-0000000
012 C01AA01 WILMINGTON
012 C02AA01 DE
012 C03AA01 19899
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013 B02AA01 NY
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014 A00AA02 DELETE
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015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02109
015 E02AA01 X
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015 B00AA02 S
015 C01AA02 BUENOS AIRES
015 D01AA02 ARGENTINA
015 E04AA02 X
015 A00AA03 NATIONAL AUSTRALIA BANK LTD
015 B00AA03 S
015 C01AA03 SIDNEY
015 D01AA03 AUSTRALIA
015 E04AA03 X
015 A00AA04 MORGAN GUARANTY TRUST COMPANY OF NY
015 B00AA04 S
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<PAGE> PAGE 3
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015 D01AA08 CHILE
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<PAGE> PAGE 4
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<PAGE> PAGE 5
015 C01AA28 SINGAPORE
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015 D01AA36 VENEZUELA
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015 A00AA37 STANDARD CHARTERED BANK
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015 C01AA37 DHAKA
015 D01AA37 BANGLADESH
015 E04AA37 X
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<PAGE> PAGE 6
015 D01AA38 BOTSWANA
015 E04AA38 X
015 A00AA39 STANDARD CHARTERED BANK
015 B00AA39 S
015 C01AA39 SHANGHAI
015 D01AA39 CHINA
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015 A00AA40 STANDARD CHARTERED BANK
015 B00AA40 S
015 C01AA40 SHENZHEN
015 D01AA40 CHINA
015 E04AA40 X
015 A00AA41 CITITRUST COLUMBIA SA SOCIEDAD FIDUCIARIA
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015 C01AA41 COLOMBIA
015 D01AA41 COLOMBIA
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015 A00AA43 BARCLAYS BANK PLC
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<PAGE> PAGE 7
015 E04AA48 X
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015 C01AA49 LIMA
015 D01AA49 PERU
015 E04AA49 X
015 A00AA50 CITIBANK SA
015 B00AA50 S
015 C01AA50 POLAND
015 D01AA50 POLAND
015 E04AA50 X
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015 A00AA53 BARCLAYS BANK PLC
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015 C01AA54 MONTEVIDEO
015 D01AA54 URUGUAY
015 E04AA54 X
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015 C01AA55 ZAMBIA
015 D01AA55 ZAMBIA
015 E04AA55 X
015 A00AA56 BARCLAYS BANK PLC
015 B00AA56 S
015 C01AA56 ZIMBABWE
015 D01AA56 ZIMBABWE
015 E04AA56 X
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<PAGE> PAGE 8
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020 A000009 ROBERT FLEMING
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022 D000002 59560
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<PAGE> PAGE 9
022 A000009 MORGAN STANLEY & C., INC.
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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 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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SIGNATURE JULIAN F. SLUYTERS
TITLE VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000721358
<NAME> PAINEWEBBER ATLAS FUND
<SERIES>
<NUMBER> 1
<NAME> PAINEWEBBER ATLAS CLASS A
<S> <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000721358
<NAME> PAINEWEBBER ATLAS FUND
<SERIES>
<NUMBER> 1
<NAME> PAINEWEBBER ATLAS CLASS B
<S> <C>
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