-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 68lRl59DoOFhLAUCFehs/A==

<SEC-DOCUMENT>0001097291-01-500007.txt : 20010730
<SEC-HEADER>0001097291-01-500007.hdr.sgml : 20010730
ACCESSION NUMBER:		0001097291-01-500007
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20010531
FILED AS OF DATE:		20010727

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MUNIASSETS FUND INC
		CENTRAL INDEX KEY:			0000901243
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NSAR-B
		SEC ACT:		
		SEC FILE NUMBER:	811-07642
		FILM NUMBER:		1690945

	BUSINESS ADDRESS:	
		STREET 1:		800 SCUDDERS MILL RD
		CITY:			PLAINSBORO
		STATE:			NJ
		ZIP:			08536
		BUSINESS PHONE:		6092822800
</SEC-HEADER>
<DOCUMENT>
<TYPE>NSAR-B
<SEQUENCE>1
<FILENAME>0001.txt
<DESCRIPTION>N-SAR (6.1)
<TEXT>

<PAGE>      PAGE  1
000 B000000 05/31/2001
000 C000000 0000901243
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000 F000000 Y
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000 I000000 6.1
000 J000000 A
001 A000000 MUNIASSETS FUND, INC.
001 B000000 811-7642
001 C000000 6092822800
002 A000000 P.O. BOX 9011
002 B000000 PRINCETON
002 C000000 NJ
002 D010000 08543
002 D020000 9011
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004  000000 N
005  000000 N
006  000000 N
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008 B000001 A
008 C000001 801-12485
008 D010001 PRINCETON
008 D020001 NJ
008 D030001 08543
008 D040001 9011
011 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
011 B000001 8-7221
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10281
011 C040001 1201
012 A000001 THE BANK OF NEW YORK
012 B000001 85-05006
012 C010001 NEW YORK
012 C020001 NY
012 C030001 10286
<PAGE>      PAGE  2
013 A000001 DELOITTE & TOUCHE LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10281
013 B040001 1008
014 A000001 MLPF&S AND OTHER ML BROKER/DEALER AFFILIATES
014 B000001 8-7221
015 A000001 THE BANK OF NEW YORK
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015 C030002 10006
015 E010002 X
015 A000003 THE CHASE MANHATTAN BANK
015 B000003 S
015 C010003 NEW YORK
015 C020003 NY
015 C030003 10017
015 E010003 X
015 A000004 CUSTODIAL TRUST CO.
015 B000004 S
015 C010004 NEW YORK
015 C020004 NY
015 C030004 10167
015 E010004 X
015 A000005 MORGAN GUARANTY TRUST CO. OF NEW YORK
015 B000005 S
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<PAGE>      PAGE  3
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022 A000001 GOLDMAN, SACHS & CO.
022 B000001 13-5108880
022 C000001     22760
022 D000001     19060
022 A000002 MORGAN STANLEY DEAN WITTER & CO.
022 B000002 13-2655998
022 C000002      8562
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022 B000003 13-3224016
022 C000003      8100
022 D000003      6100
022 A000004 SALOMON SMITH BARNEY INC.
022 B000004 11-2418191
022 C000004      3556
022 D000004      1958
022 A000005 MUNIYIELD FUND, INC.
022 B000005 22-3136942
022 C000005      5215
022 D000005         0
022 A000006 PAINEWEBBER INCORPORATED
022 B000006 13-2638166
022 C000006      1981
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022 B000007 14-1391446
022 C000007      1013
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022 A000008 B.C. ZIEGLER AND COMPANY
022 B000008 39-0727640
022 C000008      3674
022 D000008         0
022 A000009 WILLIAM E. SIMON & SONS MUNI. SECS., INC.
022 C000009         0
022 D000009      2071
022 A000010 LEHMAN BROTHERS INC.
022 B000010 13-2518466
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<PAGE>      PAGE  4
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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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SIGNATURE   DONALD C. BURKE
TITLE       TREASURER

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77BACCTLTTR
<SEQUENCE>2
<FILENAME>munas77b.txt
<TEXT>

INDEPENDENT AUDITORS' REPORT

The Board of Directors and Shareholders,
MuniAssets Fund, Inc.:

In planning and performing our audit of the financial
statements of MuniAssets Fund, Inc. (the "Fund") for the
year ended May 31, 2001 (on which we have issued our
report dated June 27, 2001), we considered its internal
control, including control activities for safeguarding
securities, in order to determine our auditing procedures for
the purpose of expressing our opinion on the financial
statements and to comply with the requirements of Form N-
SAR, and not to provide assurance on the Fund's internal
control.

The management of the Fund is responsible for establishing
and maintaining internal control.  In fulfilling this
responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of
controls.  Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing financial
statements for external purposes that are fairly presented in
conformity with accounting principles generally accepted
in the United States of America.  Those controls include the
safeguarding of assets against unauthorized acquisition,
use, or disposition.

Because of inherent limitations in any internal control,
misstatements due to error or fraud may occur and not be
detected.  Also, projections of any evaluation of internal
control to future periods are subject to the risk that the
internal control  may become inadequate because of
changes in conditions, or that the degree of compliance
with policies or procedures may deteriorate.

Our consideration of the Fund's internal control would not
necessarily disclose all matters in the internal control that
might be material weaknesses under standards established
by the American Institute of Certified Public Accountants.
A material weakness is a condition in which the design or
operation of one or more of the internal control components
does not reduce to a relatively low level the risk that
misstatements caused by error or fraud in amounts that
would be material in relation to the financial statements
being audited may occur and not be detected within a
timely period by employees in the normal course of
performing their assigned functions.  However, we noted
no matters involving the Fund's internal control and its
operation, including controls for safeguarding securities,
that we consider to be material weaknesses as defined
above as of May 31, 2001.

This report is intended solely for the information and use of
management, the Board of Directors and Shareholders of
the Fund, and the Securities and Exchange Commission
and is not intended to be and should not be used by anyone
other than these specified parties.

/s/ Deloitte & Touche LLP

June 27, 2001
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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