<PAGE> PAGE 1
000 A000000 06/30/95
000 C000000 0000912734
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 THE MORGAN STANLEY HIGH YIELD FUND, INC.
001 B000000 811-8044
001 C000000 6175578732
002 A000000 73 TREMONT STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02108
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
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 A000001 MORGAN STANLEY ASSET MANAGEMENT INC.
008 B000001 A
008 C000001 801-15757
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10020
010 A000001 THE UNITED STATES TRUST COMPANY OF NEW YORK
010 B000001 84-1719
010 C010001 BOSTON
010 C020001 MA
010 C030001 02108
011 A00AA01 MORGAN STANLEY & CO. INC.
011 B00AA01 8-15869
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10020
011 A00AA02 CROWELL, WEEDON & CO.
011 B00AA02 8-01-283
011 C01AA02 LOS ANGELES
<PAGE> PAGE 2
011 C02AA02 CA
011 C03AA02 00000
011 A00AA03 FIRST OF MICHIGAN CORP.
011 B00AA03 8-01-7209
011 C01AA03 DETROIT
011 C02AA03 MI
011 C03AA03 00000
011 A00AA04 JANNEY MONTGOMERY SCOTT INC.
011 B00AA04 8-01-7258
011 C01AA04 PHILADELPHIA
011 C02AA04 PA
011 C03AA04 00000
011 A00AA05 RAUSCHER PIERCE REFSNES, INC.
011 B00AA05 8-0000
011 C01AA05 DALLAS
011 C02AA05 TX
011 C03AA05 00000
011 A00AA06 FAHNESTOCK & CO. INC.
011 B00AA06 8-01-887
011 C01AA06 NEW YORK
011 C02AA06 NY
011 C03AA06 00000
011 A00AA07 INTERSTATE/JOHNSON LANE CORPORATION
011 B00AA07 8-01-33602
011 C01AA07 NY
011 C02AA07 NY
011 C03AA07 00000
011 A00AA08 KEMPER SECURITIES, INC.
011 B00AA08 8-37180
011 C01AA08 CHICAGO
011 C02AA08 IL
011 C03AA08 00000
011 A00AA09 TUCKER ANTHONY INC.
011 B00AA09 8-01-24297
011 C01AA09 NEW YORK
011 C02AA09 NY
011 C03AA09 00000
012 A000001 AMERICAN STOCK TRANSFER & TRUST COMPANY
012 B000001 84-416
012 C010001 NEW YORK
012 C020001 NY
012 C030001 10005
013 A000001 PRICE WATERHOUSE LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10036
015 A000001 THE UNITED STATES TRUST COMPANY OF NEW YORK
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10003
<PAGE> PAGE 3
015 E010001 X
015 A000002 MORGAN STANLEY TRUST COMPANY
015 B000002 C
015 C010002 BROOKLYN
015 C020002 NY
015 C030002 11201
015 E010002 X
018 000000 Y
019 A000000 Y
019 B000000 44
019 C000000 MORGANSTAN
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 THE UNITED STATES TRUST COMPANY OF NEW YORK
022 B000001 13-5459866
022 C000001 680831
022 D000001 0
022 A000002 BANKERS TRUST CO.
022 B000002 13-4941247
022 C000002 102852
022 D000002 6022
022 A000003 GOLDMAN SACHS & CO.
022 B000003 13-5108880
022 C000003 17523
022 D000003 5786
022 A000004 CHEMICAL BANK
022 B000004 13-4994650
022 C000004 10774
022 D000004 8659
022 A000005 SALOMON BROTHERS
022 B000005 13-3082694
022 C000005 5362
022 D000005 7535
022 A000006 MERRILL LYNCH
022 B000006 13-5674085
022 C000006 5144
022 D000006 6210
022 A000007 DONALDSON, LUFKIN, JENRETTE
022 B000007 13-2741729
022 C000007 7301
022 D000007 3485
022 A000008 MORGAN (JP) SECURITIES, INC.
<PAGE> PAGE 4
022 B000008 13-3224016
022 C000008 4260
022 D000008 4843
022 A000009 FIRST BOSTON CORP.
022 B000009 13-5659485
022 C000009 4310
022 D000009 4408
022 A000010 LEHMAN BROTHERS
022 B000010 94-2537674
022 C000010 7005
022 D000010 1039
023 C000000 859506
023 D000000 69824
024 000000 N
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 N
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.700
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
<PAGE> PAGE 5
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 N
060 B000000 N
061 000000 0
062 A000000 Y
062 B000000 0.0
062 C000000 0.0
062 D000000 0.8
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 97.7
062 Q000000 1.5
062 R000000 0.0
063 A000000 0
063 B000000 8.0
064 A000000 N
064 B000000 Y
065 000000 N
<PAGE> PAGE 6
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 N
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 Y
070 R020000 N
071 A000000 64726
071 B000000 74695
071 C000000 135512
071 D000000 48
072 A000000 6
072 B000000 7272
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 382
<PAGE> PAGE 7
072 G000000 82
072 H000000 0
072 I000000 14
072 J000000 11
072 K000000 0
072 L000000 24
072 M000000 20
072 N000000 0
072 O000000 0
072 P000000 1177
072 Q000000 0
072 R000000 13
072 S000000 32
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 37
072 X000000 1792
072 Y000000 0
072 Z000000 5480
072AA000000 0
072BB000000 2253
072CC010000 12617
072CC020000 0
072DD010000 5319
072DD020000 0
072EE000000 0
073 A010000 0.6100
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 0
074 B000000 1010
074 C000000 0
074 D000000 132357
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 54
074 J000000 5292
074 K000000 0
074 L000000 2736
074 M000000 56
074 N000000 141505
074 O000000 3370
074 P000000 90
074 Q000000 0
074 R010000 21752
074 R020000 0
074 R030000 0
<PAGE> PAGE 8
074 R040000 1472
074 S000000 0
074 T000000 114821
074 U010000 8721
074 U020000 0
074 V010000 13.17
074 V020000 0.00
074 W000000 0.0000
074 X000000 6850
074 Y000000 0
075 A000000 0
075 B000000 110515
076 000000 12.50
077 A000000 Y
077 C000000 Y
086 A010000 3
086 A020000 36
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
087 A010000 COMMON STOCK
087 A020000 61744M104
087 A030000 MSY
088 A000000 N
088 B000000 N
088 C000000 N
088 D000000 N
SIGNATURE JAMES R. ROONEY
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000912734
<NAME> THE MORGAN STANLEY HIGH YIELD FUND, INC.
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> JAN-1-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 135,683
<INVESTMENTS-AT-VALUE> 133,421
<RECEIVABLES> 8,028
<ASSETS-OTHER> 15
<OTHER-ITEMS-ASSETS> 41
<TOTAL-ASSETS> 141,505
<PAYABLE-FOR-SECURITIES> 3,370
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 23,314
<TOTAL-LIABILITIES> 26,684
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 122,398
<SHARES-COMMON-STOCK> 8,721
<SHARES-COMMON-PRIOR> 8,718
<ACCUMULATED-NII-CURRENT> 112
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (5,427)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2,262)
<NET-ASSETS> 114,821
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7,272
<OTHER-INCOME> 0
<EXPENSES-NET> (1,792)
<NET-INVESTMENT-INCOME> 5,480
<REALIZED-GAINS-CURRENT> (2,253)
<APPREC-INCREASE-CURRENT> 12,617
<NET-CHANGE-FROM-OPS> 15,844
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,319)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 3
<NET-CHANGE-IN-ASSETS> 10,561
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (3,174)
<OVERDISTRIB-NII-PRIOR> (49)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 382
<INTEREST-EXPENSE> 1,177
<GROSS-EXPENSE> 1,792
<AVERAGE-NET-ASSETS> 110,515
<PER-SHARE-NAV-BEGIN> 11.96
<PER-SHARE-NII> 0.63
<PER-SHARE-GAIN-APPREC> 1.19
<PER-SHARE-DIVIDEND> (0.61)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.17
<EXPENSE-RATIO> 3.27
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
