US Advantage Fund
Share Class :
 
ISIN: LU0360484686
 
 
Overall Morningstar Rating
US Advantage Fund
ISIN: LU0360484686
Share Class :

US Advantage Fund

SHARE CLASS :
ISIN: LU0360484686
 
Overall Morningstar Rating
 
 
 
Investment Objective
Long term growth of your investment.
Investment Approach
We seek high-quality established companies with strong brand recognition, sustainable competitive advantages, strong current free-cash-flow yields and favorable returns on invested capital trends. We focus on long-term growth rather than short-term events, with our stock selection informed by rigorous fundamental analysis.
 
 
Pricing & Performance

Past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations. All performance data is calculated NAV to NAV, net of fees, and does not take account of commissions and costs incurred on the issue and redemption of units. The sources for all performance and Index data is Morgan Stanley Investment Management. Please click here for additional performance disclosures and important information, which should be reviewed carefully.

Please Note: Time periods where NAV figures are not displayed are due to the Fund being fully redeemed and then re-launched at a later date.

The Blended Index performance shown is calculated using the S&P 500 Index from inception through 31 August 2009, the Russell 1000 Growth Net 30% Withholding Tax TR Index to 31 March 2010 and the S&P 500 Index thereafter.

 

As of 31-Dec-2017

As of 19-Jan-2018


Performance of 100 USD invested
Performance of 100 USD invested

    
Past performance is not a reliable indicator of future results.
 
 
Average Annual Total Returns As of 31-Dec-2017 As of 31-Dec-2017
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class Z USD (%) 32.17 14.70 17.51 -- 13.53
S&P 500 Index (%) 21.83 11.41 15.79 -- 11.10
1 YR 3 YRS 5 YRS 10 YRS Since Inception
Share Class Z USD (%) 32.17 14.70 17.51 -- 13.53
S&P 500 Index (%) 21.83 11.41 15.79 -- 11.10
2011 2012 2013 2014 2015 2016 2017
Share Class Z USD (%) 5.49 13.56 36.33 8.90 11.58 2.32 32.17
S&P 500 Index (%) 2.11 16.00 32.39 13.69 1.38 11.96 21.83
2013 2014 2015 2016 2017
Share Class Z USD (%) 36.33 8.90 11.58 2.32 32.17
S&P 500 Index (%) 32.39 13.69 1.38 11.96 21.83
 
Average Annual Total Returns
TIMEFRAME Share Class Z USD (%) S&P 500 Index (%)
1 Yr 32.17 21.83
3 Yrs 14.70 11.41
5 Yrs 17.51 15.79
10 Yrs -- --
Since Inception 13.53 11.10
TIMEFRAME Share Class Z USD (%) S&P 500 Index (%)
1 Yr 32.17 21.83
3 Yrs 14.70 11.41
5 Yrs 17.51 15.79
10 Yrs -- --
Since Inception 13.53 11.10
TIMEFRAME Share Class Z USD (%) S&P 500 Index (%)
2011 5.49 2.11
2012 13.56 16.00
2013 36.33 32.39
2014 8.90 13.69
2015 11.58 1.38
2016 2.32 11.96
2017 32.17 21.83
TIMEFRAME Share Class Z USD (%) S&P 500 Index (%)
2013 36.33 32.39
2014 8.90 13.69
2015 11.58 1.38
2016 2.32 11.96
2017 32.17 21.83
Past performance is not a reliable indicator of future results.
 
 
Risk/Return StatisticsAs of 31-Dec-2017

TIMEFRAME:
    Share Class Z Index
Alpha (%) 3.29 --
Beta 1.05 1.00
Information ratio 0.49 --
R squared 0.72 1.00
Sharpe ratio 1.14 1.10
Tracking error (%) 6.68 --
Volatility (Standard deviation) (%) 12.53 10.07
Past performance is not a reliable indicator of future results.
 
 
 
Risk and Reward Profile As of 27-Nov-2017
 
 
Lower Risk
High Risk
Potentially
Lower Rewards
Potentially
Higher Rewards
 
The risk and reward category shown is based on historic data.
  • Historic figures are only a guide and may not be a reliable indicator of what may happen in the future.
  • As such this category may change in the future.
  • The higher the category, the greater the potential reward, but also the greater the risk of losing the investment. Category 1 does not indicate a risk free investment.
  • The fund is in this category because it invests in company shares and the fund's simulated and/or realised return has experienced high rises and falls historically.
  • The fund may be impacted by movements in the exchange rates between the fund's currency and the currencies of the fund's investments.
This rating does not take into account other risk factors which should be considered before investing, these include:
  • The fund relies on other parties to fulfill certain services, investments or transactions. If these parties become insolvent, it may expose the fund to financial loss.
  • There may be an insufficient number of buyers or sellers which may affect the funds ability to buy or sell securities.
  • Investment in China A-Shares via Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programs may also entail additional risks, such as risks linked to the ownership of shares.
  • There are increased risks of investing in emerging markets as political, legal and operational systems may be less developed than in developed markets.
  • Past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations. The value of investments and the income from them can go down as well as up and investors may lose all or a substantial portion of his or her investment.
  • The value of the investments and the income from them will vary and there can be no assurance that the Fund will achieve its investment objectives.
  • Investments may be in a variety of currencies and therefore changes in rates of exchange between currencies may cause the value of investments to decrease or increase. Furthermore, the value of investments may be adversely affected by fluctuations in exchange rates between the investor’s reference currency and the base currency of the investments.
The risk and reward category shown is based on historic data.
  • Historic figures are only a guide and may not be a reliable indicator of what may happen in the future.
  • As such this category may change in the future.
  • The higher the category, the greater the potential reward, but also the greater the risk of losing the investment. Category 1 does not indicate a risk free investment.
  • The fund is in this category because it invests in company shares and the fund's simulated and/or realised return has experienced high rises and falls historically.
  • The fund may be impacted by movements in the exchange rates between the fund's currency and the currencies of the fund's investments.
This rating does not take into account other risk factors which should be considered before investing, these include:
  • The fund relies on other parties to fulfill certain services, investments or transactions. If these parties become insolvent, it may expose the fund to financial loss.
  • There may be an insufficient number of buyers or sellers which may affect the funds ability to buy or sell securities.
  • Investment in China A-Shares via Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programs may also entail additional risks, such as risks linked to the ownership of shares.
  • There are increased risks of investing in emerging markets as political, legal and operational systems may be less developed than in developed markets.
  • Past performance is not a reliable indicator of future results. Returns may increase or decrease as a result of currency fluctuations. The value of investments and the income from them can go down as well as up and investors may lose all or a substantial portion of his or her investment.
  • The value of the investments and the income from them will vary and there can be no assurance that the Fund will achieve its investment objectives.
  • Investments may be in a variety of currencies and therefore changes in rates of exchange between currencies may cause the value of investments to decrease or increase. Furthermore, the value of investments may be adversely affected by fluctuations in exchange rates between the investor’s reference currency and the base currency of the investments.
 
 
 
 
Composition 4 As of 31-Dec-2017
  Fund Index
Consumer Discretionary 35.80 12.20
Information Technology 24.65 23.76
Industrials 16.69 10.26
Financials 8.53 14.78
Health Care 4.83 13.84
Materials 4.71 3.00
Cash & equivalents 4.80 --
Total 100.00 --


Holdings As of 31-Dec-2017
Fund Index
Amazon.com Inc 8.27 2.05
Alphabet Inc 5.75 2.76
Union Pacific Corp 5.40 0.46
United Technologies Corp 5.08 0.42
Berkshire Hathwy 5.08 1.67
Lvmh Moet Hennessy Louis Vuitton 4.84 --
Starbucks Corp 4.79 0.36
Disney Walt Holding Co. 4.36 0.71
Facebook Inc 4.24 1.84
TJX Cos Inc 3.62 0.21
Total 51.43 --

These securities and percentage allocations are only for illustrative purposes and do not constitute, and should not be construed as, investment advice or recommendations with respect to the securities or investments mentioned.

Full Holdings Report available at least 45 calendar days after quarter-end.

Complete holdings for the Portfolio will be available at least 15 calendar days after month-end to current shareholders who email client service at cslux@morganstanley.com.



Portfolio Characteristics As of 31-Dec-2017
Fund Index
Active share (%) 87.67 --
Number of holdings 33 505
Return on capital (%) 12.87 11
5 year EPS growth (%) 10.87 6.70
Sales growth (%) 4.48 6.89
Weighted median market capitalization ($B) 82.19 94.86
D/E weighted median (%) 48.72 83.72
Dividend Yield (%) 1.03 1.84
 
 
Investors
Head of Growth Investing
24 years industry experience
Managing Director
30 years industry experience
Managing Director
22 years industry experience
Executive Director
23 years industry experience
Managing Director
21 years industry experience
Managing Director
18 years industry experience
Team members may be subject to change at any time without notice.
 
 
 
 

Please visit our Glossary page for fund related terms and definitions.

Performance data quoted is based on average annualized returns and net of fees.

The source for all performance and index data is Morgan Stanley Investment Management Limited.

Past performance is not indicative of future results. The value of the investments and the income from them can go down as well as up and an investor may not get back the amount invested. Returns may increase or decrease as a result of currency fluctuations. Performance data for funds with less than one year's track record is not shown. Performance is calculated net of fees. YTD performance data is not annualised. Performance of other share classes, when offered, may differ. Please consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus and key investor information document (KIID) contains this and other information about the fund. Please read the prospectus and KIID carefully before you invest.

1 The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not take into account sales loads.

The Europe/Asia and South Africa category (EAA) includes funds domiciled in European markets, major cross-border Asian markets where material numbers of European UCITS funds are available (principally Hong Kong, Singapore and Taiwan), South Africa, and selected other Asian and African markets where Morningstar believes it is of benefit to investors for the funds to be included in the EAA classification system.

© 2018 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

2 The Standard & Poor’s 500® Index (S&P 500®) measures the performance of the large cap segment of the U.S. equities market, covering approximately 80% of the U.S. equities market. The Index includes 500 leading companies in leading industries of the U.S. economy.

The Russell 1000 Growth Net 30% Withholding Tax TR Index measures the performance of the large-cap growth segment of the U.S. equity universe, net 30% withholding tax TR. It includes those Russell 1000® Index companies with higher price-to-book ratios and higher forecasted growth values. The Russell 1000® Index is an index of approximately 1,000 of the largest U.S. companies based on a combination of market capitalization and current index membership.

Entry Charge is a maximum possible figure. In some cases you might pay less, you can find this out from your financial adviser. Ongoing Charges reflect the payments and expenses incurred during the fund's operation and are deducted from the assets of the fund over the period. It includes fees paid for investment management (Management Fee), trustee/custodian, and administration charges. The Minimum Initial Investment/Minimum Subsequent Investment amounts may be in US Dollars (or the Euro Yen or Sterling equivalent of the US Dollar amount). For more information please see the Charges and Expenses section of the prospectus.

4 May not sum to 100% due to rounding. For additional information regarding sector classification/definitions please visit https://www.msci.com/gicsCash & Equivalents are defined as the value of assets that can be converted into cash immediately. These include commercial paper, open FX transactions, Treasury bills and other short-term instruments.  Such instruments are considered cash equivalents because they are deemed liquid and not subject to significant risk of changes in values.

Dennis Lynch, David Cohen, Sam Chainani, Alexander Norton, Jason Yeung and Armistead Nash started to manage the fund in June 2009.

 
 

WAM is the weighted average maturity of the portfolio. The WAM calculation utilizes the interest-rate reset date, rather than a security's stated final maturity, for variable- and floating- rate securities. By looking to a portfolio's interest rate reset schedule in lieu of final maturity dates, the WAM measure effectively captures a fund's exposure to interest rate movements and the potential price impact resulting from interest rate movements.

 

WAL is the weighted average life of the portfolio. The WAL calculation utilizes a security's stated final maturity date or, when relevant, the date of the next demand feature when the fund may receive payment of principal and interest (such as a put feature). Accordingly, WAL reflects how a portfolio would react to deteriorating credit (widening spreads) or tightening liquidity conditions.

 

It is important that users read the Terms of Use before proceeding as it explains certain legal and regulatory restrictions applicable to the dissemination of information pertaining to Morgan Stanley Investment Management's investment products.

The services described on this website may not be available in all jurisdictions or to all persons. For further details, please see our Terms of Use.


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