A High Quality Equity Strategy
with Attractive Long-Term Returns

Morgan Stanley Investment Funds (MS INVF)
Global Brands Fund

MS INVF Global Brands Fund

The Fund seeks to invest in great franchises worldwide with strong brands, licenses and networks

Has delivered over 15 years of attractive returns
with defensive characteristics

Morningstar Overall Rating
EAA Fund Sector Equity Consumer Goods & Services1

Citywire Fund Group
Ratings: Equity – Global Sector2

Past Performance is no guarantee of future results. Click here for more information. Does not represent all time periods or share classes.

Morningstar ratings are based on risk adjusted return1 , as of 30/09/2017 for Share Class I.2 Group Rating by Citywire in the 'Equity - Global Sector', as of 30/09/2017.

Why Quality Matters

We believe that a portfolio of high-quality companies, whose competitive advantage is driven by hard-to-replicate intangible assets and pricing power, has the potential to generate consistent returns in up markets and help to preserve capital in down markets.

The Power of Compounding

The team believes the best way to compound shareholder wealth over time is to invest in high quality companies run by high quality management teams at the right price.

Attractive Returns While Managing Downside Risk

Resilient trailing earnings has demonstrated a measure of historic downside protection in difficult market environments

Price is What You Pay, Quality is What You Get

Morgan Stanley INVF Global Brands Fund Characteristics1

Why Choose
Global Brands Fund?

Global Brands Fund is a concentrated, high-quality equity fund
offering earnings resilience and long-term return potential.

High Quality Focus

Powerful Brands

Strong Defense

Our Dedicated
Investment Team

Managing Director
25 years industry experience
Managing Director
15 years industry experience
Managing Director
25 years industry experience
Executive Director
19 years industry experience
Executive Director
19 years industry experience
Executive Director
15 years industry experience
Vice President
9 years industry experience
Vice President
8 years industry experience
Vice President
11 years industry experience

Risk Warnings
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.

1. Morningstar Ratings: 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. © 2017 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. Citywire Group Ratings are proprietary to Citywire Financial Publishers Ltd ("Citywire") and © Citywire 2017. All rights reserved. You may only use this material for your personal and non-commercial use. No part of this material may be copied, distributed or adapted in any form or by any means without prior written consent. Citywire does not accept any liability for your reliance upon, or any errors or omissions in the Citywire Group Ratings. Methodology: Citywire Group Ratings are awarded by sector to recognise the ability of a group's managers to deliver consistently strong risk-adjusted performance. The ratings are calculated over seven years and based on an average of their managers' three-year rolling risk-adjusted returns. Where managers have moved, their track records will follow them. A final score is generated for each group, on a sector by sector basis, with their current stable of managers taken into account. Those delivering excellent levels of outperformance are placed in the ratings pool. Within that pool the ratings are as follows: The top 10% receive a Platinum award. The next 20% receive Gold. The next 30% receive Silver. The remaining 40% are awarded a Bronze. Citywire Group Ratings are updated every six months with adjustments made to allow for recent leavers and joiners.

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