Euro Liquidity Fund
Share Class :
 
ISIN: LU0875333444
Euro Liquidity Fund
ISIN: LU0875333444
Share Class :

Euro Liquidity Fund

SHARE CLASS :
ISIN: LU0875333444
 
 
 
 
Investment Objective
Seeks to provide liquidity and a competitive rate of return, to the extent consistent with preservation of capital.
Investment Horizon

The fund is suitable for investors with surplus cash deposits who seek liquidity from their investments with same day accessibility.

Investment Process

The Fund will seek to achieve its investment objective by investing in high quality short-term money market instruments denominated in euros, including but not limited to: bank certificate of deposits, commercial paper, corporate and sovereign variable and fixed rate bonds, repurchase agreements and cash deposits.

 
Fund Highlights

Security:

  • Rated AAAm by S&P
  • Rated Aaa-mf by Moody’s
  • Rated AAAmmf by Fitch

 

IMMFA:

Member of the Institutional Money Market Fund Association

 

Liquidity:

Competitive trading deadlines and same-day access 

 

Yield:
Competitive rate of return

 
 
 
Pricing & Performance
Performance comparison of the funds versus benchmarks
 
(average annualised monthly yield %)
 
    Aug 2017 Jul 2017 Jun 2017 May 2017 Apr 2017 Mar 2017 Feb 2017 Jan 2017 Dec 2016 Nov 2016 Oct 2016 Sep 2016
Fund (gross) -0.43 -0.42 -0.43 -0.42 -0.44 -0.42 -0.43 -0.43 -0.43 -0.42 -0.40 -0.38
Fund (net) -0.52 -0.51 -0.50 -0.49 -0.51 -0.49 -0.50 -0.50 -0.50 -0.49 -0.47 -0.45
One week Euro LIBID Index -0.53 -0.53 -0.54 -0.53 -0.53 -0.53 -0.53 -0.52 -0.52 -0.52 -0.51 -0.51
1 Month Euro LIBID Index -0.53 -0.53 -0.53 -0.53 -0.52 -0.52 -0.52 -0.51 -0.51 -0.51 -0.50 -0.50
Euro Overnight Index Average (EONIA) -0.36 -0.36 -0.36 -0.36 -0.36 -0.35 -0.35 -0.35 -0.35 -0.35 -0.35 -0.34
Past performance is no indication of current or future performance.
 
 
 
 
Composition As of 31-Aug-2017
A1/P1 A1+/P1 Total
0 - 1 week -- 36.51 36.51
1 week - 1 month 12.83 8.55 21.38
1 month - 3 months 17.86 4.11 21.97
3 months - 6 months 10.13 8.26 18.39
6 months - 1 year 0.89 0.86 1.75
1 year + -- -- --
Total 41.71 58.29 100.00
  Fund
Commercial Paper 31.34
Time Deposit 29.64
Certificate of Deposit 23.34
Floating Rate Note 10.91
Corporate Bond 3.15
Other Tri-Party Repo 1.49
Government Bond 0.13
Total 100.00


Month-end figures
 
Month-end figures
 
Geography As of 31-Aug-2017
  Fund
France 26.86
Japan 17.66
United States 12.68
Netherlands 9.27
Sweden 8.17
Switzerland 6.26
Germany 5.08
Belgium 4.10
Finland 2.80
Canada 2.58
Denmark 1.53
Australia 1.40
United Kingdom 1.13
Austria 0.34
Norway 0.14
Total 100.00


 
 
Portfolio Managers
Executive Director
27 years industry experience
Executive Director
18 years industry experience
 
 
 

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

Past performance is not a guarantee of future performance. 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.

Past performance should not be construed as a guarantee of future performance. Calculations are NAV to NAV. Performance of the Morgan Stanley Liquidity Funds is calculated net of fees.

It is important you read the legal information page before proceeding as it explains in which countries the Morgan Stanley Liquidity Funds are authorised for sale and where this website is directed.

Net Asset Value (NAV) is the dollar value of a single mutual fund share based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. It is calculated at the end of each business day. The Fund transacts at a constant €1/$1/£1.

The 1-day and 7-day current yield is an annualized net yield which assumes dividends are not reinvested in the fund. The 30-day current yields are annualized net yields that describe 1-year earnings assuming dividends are reinvested at the average rate of the last 30 days.

The Ongoing Charges Figure (“OCF”) reflects the payments and expenses which cover aspects of operating the fund and is deducted from the assets over the period. It includes fees paid for investment management, trustee/custodian, and administration charges.

Total expenses ("TER") charged to the share class for the current reporting month, calculated net of any waivers and expressed as an annualised percentage of average net assets for the month.

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.

Unable to calculate the performance of the Institutional (+1) Accumulation share class given the level of assets in the Fund since the Inception date of 24 May 2016.

Fund launch date' refers to the launch of Morgan Stanley Funds p.l.c. Euro Liquidity Fund, which merged into Morgan Stanley Liquidity Funds on June 17, 2013.

*THE CURRENT NET NEGATIVE YIELD RETURN
Please be advised that as of 6 May 2015, the Euro Liquidity Fund, a sub-fund of Morgan Stanley Liquidity Funds, began returning a negative net yield. In accordance with the fund’s procedures for operating in a net negative yield environment, which are noted in the fund’s prospectus, the distributing share class of the fund will reduce the number of shares held by shareholders on pro rata basis each day in order for the fund to seek to maintain a constant net asset value. Additionally, the share price of the accumulating share class will decrease according to the net negative yield.

 
 

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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