Morgan Stanley launches Emerging Markets External Debt Portfolio

By Toni Weeks

San Diego, May 23 - Morgan Stanley Institutional Fund, Inc. has launched a new fund that invests primarily in fixed-income securities of issuers in emerging market countries.

According to an N-1A filing with the Securities and Exchange Commission, the Emerging Markets External Debt Portfolio has launched with four share classes, class I, class P, class H and class L, which trade under the ticker symbols "MEAIX," "MEAPX," "MEAHX" and "MEALX," respectively.

The portfolio seeks high total return by investing under normal circumstances at least 80% of its assets in dollar-denominated debt securities, primarily fixed-income securities of government and government-related issuers and corporate issuers in emerging market countries.

The portfolio's holdings may range in maturity from overnight to 30 years or more and will not be subject to any minimum credit rating standard.

Eric J. Baurmeister and Federico L. Kaune are the portfolio managers.

Shareholder fees consist of a 3.5% maximum sales charge imposed on class H shares and a 2% redemption fee imposed on all share classes for redemptions made within 30 days of purchase.

Management fees run 0.75% for each share class. Including other expenses and taking into account a fee waiver agreement with the investment adviser, the total annual portfolio operating expenses will be 0.85% for class I shares, 1.1% for class P shares and class H shares and 1.6% for class L shares.

New York-based Morgan Stanley Investment Management Inc. is the portfolio's investment adviser.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.