Morgan Stanley to launch Emerging Markets External Debt Portfolio

By Toni Weeks

San Diego, March 9 - Morgan Stanley Institutional Fund, Inc. announced in an N-1A filing with the Securities and Exchange Commission its plans to offer the Emerging Markets External Debt Portfolio.

The fund will launch with class I, class P, class H and class L shares. Ticker symbols have not yet been set.

The fund will seek high total return by investing, under normal conditions, at least 80% of its assets in dollar-denominated debt securities of issuers located in emerging market countries. The portfolio may also invest in securities denominated in currencies other than the dollar, fixed-income securities issued or guaranteed by foreign governments or supranational organizations or their instrumentalities, below-investment-grade fixed-income securities, convertible securities and exchange-traded funds.

Eric J. Baurmeister and Federico L. Kaune will be the portfolio managers.

Only class H shares will incur a sales charge, which will be 3.5%. A 2% redemption fee will apply to redemptions made within 30 days of purchase.

Management fees will run 0.75%. Including other expenses and a fee waiver agreement with the adviser, total annual portfolio operating expenses are expected to be 0.85% for class I, 1.1% for class P and class H and 1.6% for class L shares.

New York-based Morgan Stanley Investment Management Inc. will be the investment adviser.

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