1. The Morgan Stanley Institute for Sustainable Investing engaged The Economist Intelligence Unit to develop the Opportunities for Inclusive Growth Index. May 18, 2017.

Disclosures:

The material contained in the Inclusive Growth Opportunities Index (“Index”) was developed by the Economic Intelligence Unit with input from the Morgan Stanley Institute for Sustainable Investing. The data contained herein may be obtained from a variety of sources and may be subject to change. Morgan Stanley and its affiliates disclaim any and all liability for the information, including without limitation, any express or implied representations or warranties for information or errors contained in, or omissions from, the information. Morgan Stanley and its affiliates, employees and officers shall not be liable for any loss or liability suffered by you resulting from the provision to you of the information or your use or reliance in any way on the information. References to Economic Intelligence Unit and/or third parties contained herein should not be considered a solicitation on behalf of or an endorsement of those entities by Morgan Stanley.

The information and/or projections generated by the Index regarding the likelihood of various outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. Since the future cannot be forecast, actual results will vary from the information shown for the future, including estimates and assumptions. It is possible that these variations may be material. The degree of uncertainty normally increases with the length of the future period covered. As a result, Morgan Stanley cannot give any assurances that any estimates, assumptions or other aspects of the following analyses will prove correct. They are subject to actual known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those shown.

The Technology for Inclusive Growth Index is new and first of its kind without prior historical information or performance and may not be suitable for all investors. It should not be assumed that any transactions or holdings discussed were or will prove to be profitable. In general, indices are unmanaged. An investor cannot invest directly in an index. The index is shown for illustrative purposes only and does not represent the performance of any specific investment or strategy.
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International investing entails greater risk, as well as greater potential rewards compared to U.S. investing and may not be suitable for all investors. These risks include political and economic uncertainties of foreign countries as well as the risk of currency fluctuations. These risks are magnified in countries with emerging markets, since these countries may have relatively unstable governments and less established markets and economics. In addition, the securities markets of many of the emerging markets are substantially smaller, less developed, less liquid and more volatile than the securities of the U.S. and other more developed countries.

Because of their narrow focus, sector investments tend to be more volatile than investments that diversify across many sectors and companies.

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