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Update on distribution of Morgan Stanley Fund prospectuses                                       As a result of COVID-19, vendors used by the Morgan Stanley Funds and other financial intermediaries to print and mail fund prospectuses are experiencing delays in processing and transmitting these materials to Fund shareholders. Accordingly, the Morgan Stanley Funds are relying on the Securities and Exchange Commission’s Order permitting the funds to delay transmitting these materials to shareholders. See Investment Company Act of 1940 Release No. 33824, dated March 25, 2020. Please note that current fund prospectuses are accessible on the Resources page.

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