Global Multi-Asset Income Portfolio
Share Class :
 
MSGMX CUSIP: 617455852
Global Multi-Asset Income Portfolio
MSGMX CUSIP: 617455852
Share Class :

Global Multi-Asset Income Portfolio

SHARE CLASS :
MSGMX CUSIP: 617455852
 
 
 
 
Investment Approach
By providing a non-traditional, diversified approach to income generation, the Global Multi-Asset Income Portfolio provides a potential solution for investors seeking to generate income in most market environments. The multi-asset strategy expands the investment universe so that income can be generated through a combination of core global equity and fixed income securities, high yielding investments and an option-writing strategy.
 
 
Pricing & Performance

Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. For the most recent month-end performance figures, please select the "month" timeframe or call 1-800-548-7786. Investment returns and principal value will fluctuate and fund shares, when redeemed, may be worth more or less than their original cost. For additional important information, please click here

As of 11/30/2018

As of 12/13/2018

As of 11/30/2018

As of 12/13/2018


Performance of $10,000 invested
Performance of $10,000 invested

    
Past performance is not indicative of future results.
 
 
Average Annual Total Returns As of 11/30/2018 As of 09/30/2018
1 YR 3 YRS 5 YRS 10 YRS Since Inception
MSGMX (%) -3.30 3.32 -- -- 1.31
Bloomberg Barclays Global Aggregate Index (%) -2.82 2.20 -- -- 1.03
Blended Index (%) -2.11 4.87 -- -- 2.87
Lipper Category Average (%) -2.21 4.73 -- -- --
Morningstar Category Average (%) -3.38 4.73 -- -- --
1 YR 3 YRS 5 YRS 10 YRS Since Inception
MSGMX (%) 0.30 4.59 -- -- 2.02
Bloomberg Barclays Global Aggregate Index (%) -1.32 1.98 -- -- 1.32
Blended Index (%) 2.27 6.41 -- -- 3.80
Lipper Category Average (%) 4.69 7.43 -- -- --
Morningstar Category Average (%) 3.46 7.38 -- -- --
2013 2014 2015 2016 2017
MSGMX (%) -- -- -- 4.04 11.47
Bloomberg Barclays Global Aggregate Index (%) -- -- -- 2.09 7.39
Blended Index (%) -- -- -- 5.60 13.05
Lipper Category Average (%) -- -- -- 7.00 12.70
Morningstar Category Average (%) -- -- -- 6.04 14.79
 
Average Annual Total Returns
As of 11/30/2018
TIMEFRAME MSGMX USD (%) Bloomberg Barclays Global Aggregate Index (%) Blended Index (%) Lipper Category Average (%) Morningstar Category Average (%)
1 Yr -3.30 -2.82 -2.11 -2.21 -3.38
3 Yrs 3.32 2.20 4.87 4.73 4.73
5 Yrs -- -- -- -- --
10 Yrs -- -- -- -- --
Since Inception 1.31 1.03 2.87 -- --
As of 09/30/2018
TIMEFRAME MSGMX USD (%) Bloomberg Barclays Global Aggregate Index (%) Blended Index (%) Lipper Category Average (%) Morningstar Category Average (%)
1 Yr 0.30 -1.32 2.27 4.69 3.46
3 Yrs 4.59 1.98 6.41 7.43 7.38
5 Yrs -- -- -- -- --
10 Yrs -- -- -- -- --
Since Inception 2.02 1.32 3.80 -- --
TIMEFRAME MSGMX USD (%) Bloomberg Barclays Global Aggregate Index (%) Blended Index (%) Lipper Category Average (%) Morningstar Category Average (%)
2013 -- -- -- -- --
2014 -- -- -- -- --
2015 -- -- -- -- --
2016 4.04 2.09 5.60 7.00 6.04
2017 11.47 7.39 13.05 12.70 14.79
Past performance is not indicative of future results. The Portfolio's calendar year returns do not include the deduction of any applicable sales charges.
 
 
Risk/Return Statistics

TIMEFRAME:
    MSGMX
Excess return (versus Custom Benchmark) -1.55
Excess return (versus Primary Benchmark) 1.12
Tracking error (%) 3.69
Information ratio 0.30
Past performance is not indicative of future results.
 
 
Distributions
 
Record Date Ex-Date Payable Date Net Investment Income ($ per share) Long-Term Capital Gains ($ per share) Short-Term Capital Gains ($ per share) Total Capital Gains ($ per share)
12/10/2018 12/11/2018 12/11/2018 0.185582 0.048500 0.000000 0.048500
10/01/2018 10/02/2018 10/02/2018 0.053637 0.000000 0.000000 0.000000
07/02/2018 07/03/2018 07/03/2018 0.054179 0.000000 0.000000 0.000000
04/02/2018 04/03/2018 04/03/2018 0.024390 0.000000 0.000000 0.000000
12/08/2017 12/11/2017 12/11/2017 0.008020 0.000000 0.000000 0.000000
10/02/2017 10/03/2017 10/03/2017 0.024179 0.000000 0.000000 0.000000
07/03/2017 07/05/2017 07/05/2017 0.048571 0.000000 0.000000 0.000000
04/03/2017 04/04/2017 04/04/2017 0.017410 0.000000 0.000000 0.000000
12/15/2016 12/16/2016 12/16/2016 0.054147 0.000000 0.000000 0.000000
Record Date Ex-Date Payable Date Net Investment Income ($ per share) Long-Term Capital Gains ($ per share) Short-Term Capital Gains ($ per share) Total Capital Gains ($ per share)
12/10/2018 12/11/2018 12/11/2018 0.185582 0.048500 0.000000 0.048500
10/01/2018 10/02/2018 10/02/2018 0.053637 0.000000 0.000000 0.000000
07/02/2018 07/03/2018 07/03/2018 0.054179 0.000000 0.000000 0.000000
04/02/2018 04/03/2018 04/03/2018 0.024390 0.000000 0.000000 0.000000
12/08/2017 12/11/2017 12/11/2017 0.008020 0.000000 0.000000 0.000000
10/02/2017 10/03/2017 10/03/2017 0.024179 0.000000 0.000000 0.000000
07/03/2017 07/05/2017 07/05/2017 0.048571 0.000000 0.000000 0.000000
04/03/2017 04/04/2017 04/04/2017 0.017410 0.000000 0.000000 0.000000
12/15/2016 12/16/2016 12/16/2016 0.054147 0.000000 0.000000 0.000000
Historical Yields (Subsidized)

As of 11/30/2018

 
Past performance is not indicative of future results.
 
 
 
Composition As of 09/30/2018
Fund Active Wt
Global Equities 28.59 -1.41
Global Fixed Income 68.16 18.16
Global High Yielding Investments 19.22 -0.78
Commodities 0.75 0.75
Volatility -0.37 -0.37
Cash -16.36 -16.36
Fund
Developed Markets 97.63
North America 56.86
Europe 24.88
Asia ex-Japan 4.39
Japan 11.49
Emerging Markets 2.37


Geography4 As of 09/30/2018
Equities Fixed Income
North America 15.66 38.96
Europe 4.55 10.81
Asia ex-Japan 0.10 2.78
Japan 2.56 6.90
Emerging Markets 5.72 8.72


Holdings As of 10/31/2018
Fund
United States Treasury 14.11
Japan (Government of) 7.21
MSIF - Emer Mrts Ext Debt Port 4.48
Germany (Federal Republic of) 4.17
Morgan Stanley Institutional High Yield 3.59
Fannie Mae 3.36
Argentina (Republic of) 2.72
Greece (Government) 2.16
France Government Bond Oat 1.55
Canadian Government Bond 1.37
Total 44.72


 
 
Portfolio Managers
Head of Global Multi-Asset Team
27 years industry experience
Managing Director
22 years industry experience
Managing Director
35 years industry experience
 
 
Insights by Global Balanced Risk Control Team
Investment Insight
GMA Viewpoint -Renminbi: End of the Impossible Trinity?
Jun 30, 2018
MSIM’s Global Multi-Asset Team discusses their investment perspective in the latest viewpoint: “Renminbi: End of the Impossible Trinity?”
Macro Insight
GMA Viewpoint: The Eventual Turn of US Outperformance?
Aug 31, 2018
MSIM’s Global Multi-Asset Team discusses their investment perspective in the latest viewpoint: “The Eventual Turn of U.S. Outperformance?”
 
 
Resources
Product Literature
 
 
Prospectus & Reports
SAI
 
 
 
 
 

Class A shares include maximum front-end sales charge of 5.50% (Alternatives), 5.25% (Equity) and 4.25% (Fixed Income).  Class B shares include deferred sales charge of 5.00% which declines to zero after sixth year.  Class C shares include deferred sales charge of 1.00% which declines to zero after first year. Class L shares, Class I, and Class IS shares are not subject to a sales charge.

Where the net expense ratio is lower than the gross expense ratio, certain fees have been waived and/or expenses reimbursed. These waivers and/or reimbursements will continue for at least one year from the date of the applicable fund’s current prospectus (unless otherwise noted in the applicable prospectus) or until such time as the fund\'s Board of Directors (Trustees) acts to discontinue all or a portion of such waivers and/or reimbursements. Absent such waivers and/or reimbursements, returns would have been lower. Expenses are based on the fund\'s current prospectus. The minimum initial investment is $5,000,000 for Class I shares. 

Class IS shares, are being offered only to eligible investors who must meet a minimum initial investment of $10,000,000 or be a defined contribution, defined benefit or other employer sponsored employee benefit plan, whether or not qualified under the Internal Revenue Code of 1986, as amended (the "Code"), in each case subject to the discretion of the Portfolio's investment advisor.

Growth of Investment illustration is based on an initial investment of $10,000 made since fund inception, assumes reinvestment of dividends and capital gains, but does not include sales charges and fees. Performance would have been lower if sales charges and fees had been included. Results are hypothetical.

Subject to change daily. Fund information, Portfolio Composition and Characteristics are provided for informational purposes only, and should not be deemed as a recommendation to buy or sell any security or securities in the region presented.

Returns are net of fees and assume the reinvestment of all dividends and income. Returns for less than one year are cumulative (unannualized). Performance of other share classes will vary. 

Please keep in mind that double-digit returns are highly unusual and cannot be sustained. Investors should also be aware that these returns were primarily achieved during favorable market conditions.

This material is a general communication, which is not impartial and all information provided has been prepared solely for informational and educational purposes and does not constitute an offer or a recommendation to buy or sell any particular security or to adopt any specific investment strategy. The information herein has not been based on a consideration of any individual investor circumstances and is not investment advice, nor should it be construed in any way as tax, accounting, legal or regulatory advice. To that end, investors should seek independent legal and financial advice, including advice as to tax consequences, before making any investment decision.


Yield - Unsubsidized
 (Unsub.) does not reflect the fee waivers currently in effect.

DEFINITIONS 
SEC yield 
is a measure of the income generated by the portfolio’s underlying asset over the trailing 30 days, relative to the asset base of the portfolio itself. The SEC 30-Day yield - Subsidized (Sub.) reflects current fee waivers in effect. Absent such fee waivers, the yield would have been lower. The SEC 30-Day yield - Unsubsidized (Unsub.) does not reflect the fee waivers currently in effect.

RISK/RETURN DEFINITIONS 
Excess Return
 or the value added (positive or negative) is the portfolio's return relative to the benchmark. Tracking error is the amount by which the performance of the portfolio differs from that of the benchmark. Information ratio is the portfolio's alpha or excess return per unit of risk, as measured by tracking error, versus the portfolio's benchark.

RISK CONSIDERATIONS 

There is no assurance that a portfolio will achieve its investment objective. Portfolios are subject to market risk, which is the possibility that the market values of securities owned by the portfolio will decline and that the value of portfolio shares may therefore be less than what you paid for them. Accordingly, you can lose money investing in this portfolio. Please be aware that this portfolio may be subject to certain additional risks. In general, equity securities’values also fluctuate in response to activities specific to a company. Investments in foreign markets entail special risks such as currency, political, economic, and market risks. The risks of investing in emerging market countries are greater than risks associated with investments in foreign developed countries. Fixed-income securities are subject to the ability of an issuer to make timely principal and interest payments (credit risk), changes in interest rates (interest-rate risk), the creditworthiness of the issuer and general market liquidity (market risk). In the current rising interest-rate environment, bond prices may fall and may result in periods of volatility and increased portfolio redemptions. Longer-term securities may be more sensitive to interest rate changes. In a declining interest-rate environment, the portfolio may generate less income. High yield securities (“junk bonds”)are lower rated securities that may have a higher degree of credit and liquidity risk. Mortgage-backed securities are sensitive to early prepayment risk and a higher risk of default and may be hard to value and difficult to sell (liquidity risk). They are also subject to credit, market and interest rate risks. Certain U.S. government securities purchased by the Strategy, such as those issued by Fannie Mae and Freddie Mac, are not backed by the full faith and credit of the U.S. It is possible that these issuers will not have the funds to meet their payment obligations in the future. Real estate investment trusts are subject to risks similar to those associated with the direct ownership of real estate and they are sensitive to such factors as management skills and changes in tax laws.Derivative instruments can be illiquid, may disproportionately increase losses and may have a potentially large negative impact on the Portfolio’s performance. Illiquid securities may be more difficult to sell and value than publicly traded securities (liquidity risk). Option writing strategy. Writing call options involves the risk that the Portfolio may be required to sell the underlying security or instrument (or settle in cash an amount of equal value) at a disadvantageous price or below the market price of such underlying security or instrument, at the time the option is exercised. As the writer of a call option, the Portfolio forgoes, during the option’s life, the opportunity to profit from increases in the market value of the underlying security or instrument covering the option above the sum of the premium and the exercise price, but retains the risk of loss should the price of the underlying security or instrument decline. Additionally, the Portfolio’s call option writing strategy may not fully protect it against declines in the value of the market. There are special risks associated with uncovered option writing which expose the Portfolio to potentially significant loss.


OTHER CONSIDERATIONS 

The Bloomberg Barclays Global Aggregate Bond Index provides a broad-based measure of the global investment grade fixed-rate debt markets. Total Returns shown in unhedged USD. The index is unmanaged and does not include any expenses, fees or sales charges. It is not possible to invest directly in an index.

The Blended Index is comprised of 30% MSCI All Country World Index (a free float-adjusted market capitalization weighted index designed to measure the equity market performance of developed and emerging markets. The term “free float” represents the portion of shares outstanding that are deemed to be available for purchase in the public equity markets by investors. The performance of the Index is listed in U.S. dollars and assumes reinvestment of net dividends.); 50% Bloomberg Barclays Global Aggregate Bond Index; 5% Dow Jones Brookfield Global Infrastructure Index (a float-adjusted market capitalization weighted index that measures the stock performance of companies that exhibit strong infrastructure characteristics. The Index intends to measure all sectors of the infrastructure market); 5% FTSE EPRA/NAREIT Developed Index (a global market capitalization weighted index composed of listed real estate securities in the North American, European and Asian real estate markets); 5% Bloomberg Barclays Global High Yield Index (provides a broad-based measure of the global high-yield fixed income markets. It is comprised of the Barclays U.S. High Yield, Pan-European High Yield, U.S. Emerging Markets High Yield and Pan-European Emerging Markets High Yield indices.); 5% JP Morgan EMBI Global Index (tracks total returns for U.S. dollar-denominated debt instruments issued by emerging markets sovereign and quasi-sovereign entities: Brady Bonds, loans, Eurobonds and local market instruments for over 30 emerging market countries). The indices are unmanaged and do not include any expenses, fees or sales charges. Such costs would lower performance. It is not possible to invest directly in an index.

Please consider the investment objective, risks, charges and expenses of the fund carefully before investing. The prospectus contains this and other information about the fund. To obtain a prospectus, download one at morganstanley.com/im or call 1-800-548-7786. Please read the prospectus carefully before investing.

Morgan Stanley Investment Management (MSIM) is the asset management division of Morgan Stanley

Excess return versus Custom Benchmark is calculated using the Portfolio's Blended Index based on the period since it was added as a benchmark on October 2, 2013.

 

Tracking error and information ratio are calculated using the Portfolio's Blended Index (added October 2, 2013), as this is a better representation of the Portfolio's global multi-asset strategy. The investment team manages the Portfolio relative to this Blended Index.

 

Tracking error and information ratio are calculated using the Portfolio's Blended Index (added October 2, 2013), as this is a better representation of the Portfolio's global multi-asset strategy. The investment team manages the Portfolio relative to this Blended Index.

 
 
 

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.

 

Tracking error and information ratio are calculated using the Portfolio's Blended Index (added October 2, 2013), as this is a better representation of the Portfolio's global multi-asset strategy. The investment team manages the Portfolio relative to this Blended Index.

 

Excess return versus Custom Benchmark is calculated using the Portfolio's Blended Index based on the period since it was added as a benchmark on October 2, 2013.

 

NTM = Next Twelve Months

 

LTM = Last Twelve Months

 

Because the Portfolio had not commenced operations as of the most recent fiscal year end, no portfolio turnover rate is available for the Portfolio.

 

The Reorganization occurred on January 6, 2015. The inception date reflects the inception date of the Private Fund.

 

Global equities is represented by the MSCI All Country World Index.

 

Net exposure % calculated as [(MV of long cash security and derivative positions)-(absolute value of MV in short derivative positions)]/(portfolio MV)

 

Gross exposure % calculated as [(MV of long cash security and derivative positions)+(absolute value of MV in short derivative positions)]/(portfolio MV).

 

Fixed income net and gross exposure is duration adjusted (U.S. Treasury 10-Year equivalents)

 

Security ratings disclosed above have been obtained from Standard & Poor's Ratings Group ("S&P"). S&P's credit ratings express its opinion about the ability and willingness of an issuer to meet its financial obligations in full and on time.'AAA' is the highest rating. Any rating below 'BBB-' rating is considered non-investment grade. Ratings are relative and subjective and are not absolute standards of quality. Ratings apply only to the underlying holdings of the portfolio and does not remove market risk. "NR" or "Not Rated" indicates that no rating has been requested, that there is insufficient information on which to base a rating, or that S&P does not rate a particular obligation as a matter of policy. Futures are not rated.

 

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