PAINEWEBBER MASTER SERIES INC
NSAR-A, 2000-04-27
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<PAGE>      PAGE  1
000 A000000 02/29/2000
000 C000000 0000780403
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 PAINEWEBBER MASTER SERIES, INC.
001 B000000 811-4448
001 C000000 2127133041
002 A000000 51 WEST 52ND STREET
002 B000000 NEW YORK,
002 C000000 NY
002 D010000 10019
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C010200  2
007 C020200 PW BALANCED FUND (FORMERLY ASSET ALLOCATION)
007 C030200 N
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 MITCHELL HUTCHINS ASSET MANAGEMENT, INC.
008 B00AA01 A
008 C00AA01 801-13219
008 D01AA01 NEW YORK,
008 D02AA01 NY
008 D03AA01 10019
010 A00AA01 MITCHELL HUTCHINS ASSET MANAGEMENT, INC.
010 B00AA01 801-13219
010 C01AA01 NEW YORK,
010 C02AA01 NY
010 C03AA01 10019
011 A00AA01 PAINEWEBBER, INC.
011 B00AA01 8-16267
011 C01AA01 NEW YORK,
011 C02AA01 NY
011 C03AA01 10019
012 A00AA01 PFPC, INC.
<PAGE>      PAGE  2
012 B00AA01 85-0000000
012 C01AA01 WILMINGTON,
012 C02AA01 DE
012 C03AA01 19809
013 A00AA01 PRICEWATERHOUSECOOPERS
013 B01AA01 NEW YORK,
013 B02AA01 NY
013 B03AA01 10036
014 A00AA01 PAINEWEBBER, INC.
014 B00AA01 8-16267
015 A00AA01 STATE STREET BANK & TRUST CO.
015 B00AA01 C
015 C01AA01 NORTH QUINCY,
015 C02AA01 MA
015 C03AA01 02171
015 E01AA01 X
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019 C00AA00 PAINEWEBBE
020 A000001 PAINEWEBBER INC.
020 B000001 13-2638166
020 C000001      6
020 A000002 MERRILL LYNCH PIERCE
020 B000002 13-5670850
020 C000002      6
020 A000003 SG COWEN SECURITIES CORP.
020 C000003      6
020 A000004 BANC AMERICA SECURITY LLC
020 C000004      5
020 A000005 GERARD KLAUER MATTISON & CO
020 C000005      4
020 A000006 MORGAN, J.P., SECURITIES
020 B000006 13-3224016
020 C000006      3
020 A000007 WEEDED & CO
020 B000007 13-3364318
020 C000007      2
020 A000008 PRUDENTIAL SECURITIES INC.
020 B000008 22-2347336
020 C000008      2
020 A000009 CIBC WORLD MARKETS CORP.
020 C000009      2
020 A000010 ISI GROUP INC.
020 C000010      2
021  000000      158
022 A000001 STATE STREET BANK & TRUST CO.
022 B000001 04-1867445
022 C000001    472523
022 D000001    163450
022 A000002 WARBURG
<PAGE>      PAGE  3
022 B000002 13-3340045
022 C000002    364623
022 D000002       965
022 A000003 DRESDNER SECURITIES INC.
022 B000003 13-6172414
022 C000003    330613
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022 A000004 SOCIETE GENERALE
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022 C000004    282657
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022 D000006      6395
022 A000007 CS FIRST BOSTON CORP.
022 B000007 13-5659455
022 C000007     55362
022 D000007     38273
022 A000008 GOLDMAN SACHS & CO.
022 B000008 13-5108880
022 C000008     51514
022 D000008     37032
022 A000009 BANK ONE CAPITAL MARKETS
022 C000009     85941
022 D000009         0
022 A000010 MORGAN STANLEY AND CO.,INC.
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SIGNATURE   PAUL SCHUBERT
TITLE       TREASURER


WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000780403
<NAME> PAINEWBBER MASTER SERIES, INC.
<SERIES>
   <NUMBER> 1
   <NAME> PAINEWEBBER BALANCED FUND-CLASS A
<MULTIPLIER> 1000

<S>                             <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000780403
<NAME> PAINEWEBBER MASTER SERIES, INC.
<SERIES>
   <NUMBER> 1
   <NAME> PAINEWEBBER BALANCED FUND-CLASS B
<MULTIPLIER> 1000

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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000780403
<NAME> PAINEWEBBER MASTER SERIES, INC.
<SERIES>
   <NUMBER> 1
   <NAME> PAINEWEBBER BALANCED FUND-CLASS C
<MULTIPLIER> 1000

<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000780403
<NAME> PAINEWEBBER MASTER SERIES, INC
<SERIES>
   <NUMBER> 1
   <NAME> PAINEWEBBER BALANCED FUND-CLASS Y
<MULTIPLIER> 1000

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<PER-SHARE-NAV-END>                              10.62
<EXPENSE-RATIO>                                   0.98



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