MUMBAI, May 12, 2009 - Morgan Stanley Investment Management (MSIM) today announced the launch of a fixed income product range in India with two new funds, Morgan Stanley Short Term Bond Fund and Morgan Stanley Active Bond Fund. The announcement marks the debut of Morgan Stanley Mutual Fund's Fixed Income Boutique in India and continues the Firm's expansion in India's investment management industry.
The investment objective of Morgan Stanley Short Term Bond Fund is to generate income from a diversified portfolio of short to medium term debt and money market securities and will be benchmarked against the CRISIL Short-Term Bond Fund Index. The Morgan Stanley Active Bond Fund will seek to generate optimal returns through active management of a portfolio consisting of debt and money market securities. It will be benchmarked against the CRISIL Composite Bond Fund Index.
The New Fund Offers priced at Rs. 10 per unit, will be open for purchase from May 12 to May 20, 2009 for Morgan Stanley Short Term Bond Fund and from May 12 to May 25, 2009 for Morgan Stanley Active Bond Fund.
Commenting on the fund launches, Anthony Heredia, CEO, Morgan Stanley Mutual Fund, said: "We are pleased to be expanding our product offering with the launch of two new fixed income funds. These mark the launch of our Fixed Income Boutique and are in line with our strategy to expand our business and range of products in India's domestic funds market."
"Interest rates are at a cyclical downturn on the back of global economic slowdown and low inflation," said Ritesh Jain, Head - Fixed Income and Lead Portfolio Manager for the Fixed Income Boutique, Morgan Stanley Mutual Fund. "Given this environment, Morgan Stanley Short Term Bond Fund will be well positioned to take advantage of any fall in short term interest rates. Morgan Stanley Active Bond Fund will be actively managed to take advantage of any fall in the overall interest rate structure. A flexible investment strategy is best positioned to generate an optimal risk adjusted return, given market opportunities."
Morgan Stanley Investment Management in India
The India Magnum Fund, an offshore fund set up in 1989, marked the entry of Morgan Stanley in the Indian market. In 1994, Morgan Stanley launched its first domestic fund, Morgan Stanley Growth Fund (MSGF). As of April 30, 2009, Morgan Stanley Mutual Fund had approximately Rs. 1641 crore in assets under management. For further information about MSIM in India, please visit www.morganstanley.com/indiamf.
Morgan Stanley Investment Management (MSIM), together with its investment advisory affiliates, has nearly 1000 investment professionals around the world and approximately US$356 billion in assets under management or supervision as of March 31, 2009. By leveraging its global ‘community of boutiques' structure and the strength of Morgan Stanley, MSIM strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 36 countries.
For further information about Morgan Stanley, please visit www.morganstanley.com