Vitality Portfolio

Share Class :
 
MSVMX CUSIP: 61768B653
Vitality Portfolio
MSVMX CUSIP: 61768B653
Share Class :

Vitality Portfolio

SHARE CLASS :
MSVMX CUSIP: 61768B653
 

 
Product Team Image
Investment Objective
Seeks long-term capital appreciation.
Investment Approach
We seek to invest primarily in healthcare companies in the United States, principally engaged in the discovery, development, production, or distribution of products or services related to advances in healthcare, and that we believe have sustainable competitive advantages, strong research and development and productive new product flow, financial strength, and an attractive risk/reward profile.
 
 
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 04/30/2022

As of 05/18/2022

As of 04/30/2022

As of 05/18/2022


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

    
Past performance is not indicative of future results. Information above does not take into account any applicable sales charges.
 
 
Average Annual Total Returns As of 04/30/2022 As of 03/31/2022
 
 TIMEFRAME:
 
 
  SALES CHARGE:
 
  •  
1 YR 3 YRS 5 YRS 10 YRS Since Inception
MSVMX -- -- -- -- -36.34
Russell 3000 Health Care Net Index (%) -- -- -- -- -10.52
Lipper Category Average (%) -- -- -- -- --
Morningstar Category Average (%) -- -- -- -- --
1 YR 3 YRS 5 YRS 10 YRS Since Inception
MSVMX (%) -- -- -- -- -35.70
Russell 3000 Health Care Net Index (%) -- -- -- -- -10.52
Lipper Category Average (%) -- -- -- -- --
Morningstar Category Average (%) -- -- -- -- --
1 YR 3 YRS 5 YRS 10 YRS Since Inception
MSVMX -- -- -- -- -21.59
Russell 3000 Health Care Net Index (%) -- -- -- -- -4.66
Lipper Category Average (%) -- -- -- -- --
Morningstar Category Average (%) -- -- -- -- --
1 YR 3 YRS 5 YRS 10 YRS Since Inception
MSVMX (%) -- -- -- -- -20.80
Russell 3000 Health Care Net Index (%) -- -- -- -- -4.66
Lipper Category Average (%) -- -- -- -- --
Morningstar Category Average (%) -- -- -- -- --
Average Annual Total Returns
  SALES CHARGE:
As of 04/30/2022
TIMEFRAME MSVMX Russell 3000 Health Care Net Index (%) Lipper Category Average (%) Morningstar Category Average (%)
1 Yr -- -- -- --
3 Yrs -- -- -- --
5 Yrs -- -- -- --
10 Yrs -- -- -- --
Since Inception -36.34 -10.52 } -- --
TIMEFRAME MSVMX Russell 3000 Health Care Net Index (%) Lipper Category Average (%) Morningstar Category Average (%)
1 Yr -- -- -- --
3 Yrs -- -- -- --
5 Yrs -- -- -- --
10 Yrs -- -- -- --
Since Inception -35.70 -10.52 } -- --
As of 03/31/2022
TIMEFRAME MSVMX Russell 3000 Health Care Net Index (%) Lipper Category Average (%) Morningstar Category Average (%)
1 Yr -- -- -- --
3 Yrs -- -- -- --
5 Yrs -- -- -- --
10 Yrs -- -- -- --
Since Inception -21.59 -4.66 } -- --
TIMEFRAME MSVMX Russell 3000 Health Care Net Index (%) Lipper Category Average (%) Morningstar Category Average (%)
1 Yr -- -- -- --
3 Yrs -- -- -- --
5 Yrs -- -- -- --
10 Yrs -- -- -- --
Since Inception -20.80 -4.66 } -- --
Past performance is not indicative of future results. The Portfolio's calendar year returns do not include the deduction of any applicable sales charges.
 
 
 
 
Composition As of 03/31/2022
  Fund Index
Health Care 93.64 99.96
Consumer Discretionary 1.76 --
Cash 4.35 --
 
May not sum to 100% due to the exclusion of other assets and liabilities.


Holdings As of 04/30/2022
Fund Index
Thermo Fisher Scientific Inc 5.11 3.98
UnitedHealth Group Inc 5.05 8.77
Eli Lilly & Co. 4.18 4.54
Vertex Pharmaceuticals Inc 4.06 1.27
10X Genomics Inc 3.82 0.07
Guardant Health Inc 3.70 0.10
Royalty Pharma Plc 3.56 0.25
argenx SE 3.53 --
Intellia Therapeutics Inc 3.21 0.06
Inspire Medical Systems Inc 3.10 0.10
Total 39.32 --

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

As of April 30, 2022, the Fund does not have direct exposure to and does not hold companies listed or domiciled in Russia, Ukraine or Belarus.



Portfolio Characteristics
Fund Index
Active share (%) 75.84 --
Number of holdings 47 644
Return on capital (%) -2.70 16.11
5 year EPS growth (%) 28.55 30.41
Sales growth (%) 30.26 22.45
Weighted median market capitalization ($B) 10.17 134.70
D/E weighted median (%) 17.86 68.44
 
 
Resources
Product Literature
 
 
Prospectus & Reports
SAI
 
 
 
 
 

Class C shares include deferred sales charge of 1.00% which declines to zero after first year.

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. The Adviser may make additional voluntary fee waivers and/or expense reimbursements. The Adviser may discontinue these voluntary fee waivers and/or expense reimbursements at any time in the future. Expenses are based on the fund's current prospectus. The minimum initial investment is $1,000,000 for Class I shares.

Class R6 shares, are being offered only to eligible investors who must meet a minimum initial investment of $5,000,000 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 and application of fees, but does not include sales charges. Performance would have been lower if sales charges had been included. Results are hypothetical.

Short-term returns may not be indicative of the fund’s long term performance potential. A fund’s performance, especially for very short time periods, should not be the sole factor in making your investment decision.

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 sectors presented. 

Returns are net of fees and assume the reinvestment of all dividends and income. Returns for less than one year are cumulative (not annualized). Performance of other share classes will vary.

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.

PORTFOLIO CHARACTERISTICS DEFINITIONS
Active Share is the fraction of the portfolio or fund that is invested differently than its benchmark as of the last day of the reporting period. A portfolio with a high degree of Active Share does not assure a fund’s relative outperformance. Active Share calculation may consolidate holdings with the same economic exposure. The Net Asset Value (NAV) per share is determined by dividing the value of the fund's portfolio securities, cash and other assets, less all liabilities, by the total number of common shares outstanding. The common share market price is the price the market is willing to pay for shares of the fund at a given time. Return on capital is a measure of a company’s efficiency at allocating the capital under its control to profitable investments, calculated by dividing net income minus dividends by total capital. Earnings per share (EPS) growth is the weighted average of earnings per share growth for all securities in the portfolio projected for the past five fiscal years. Earnings per share for a company is defined as total earnings divided by shares outstanding. The Weighted Median Market Capitalization is the point at which half of the market value of a portfolio or index is invested in stocks with a greater market cap, while the other half of the market value is invested in stocks with a lower market cap. Weighted median Debt to Equity ratio is the point at which half of the market value of a portfolio or index is invested in stocks with a greater Debt to Equity ratio, while the other half of the market value is invested in stocks with a lower Debt to Equity ratio. Debt/equity (D/E) is a measure of a company’s financial leverage calculated by dividing its total liabilities by stockholders’ equity. Sales growth is the increase in sales over a specific period of time, often but not necessarily annually. 

Turnover is sourced from the fund's current prospectus.

The index data displayed under allocations are calculated using MSIM and other third-party methodologies and may differ from data published by the vendor.

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. Market values can change daily due to economic and other events (e.g. natural disasters, health crises, terrorism, conflicts and social unrest) that affect markets, countries, companies or governments. It is difficult to predict the timing, duration, and potential adverse effects (e.g. portfolio liquidity) of events. Accordingly, you can lose money investing in this Portfolio. Please be aware that this Portfolio may be subject to certain additional risks. In general, equities securities’ values also fluctuate in response to activities specific to a company. The healthcare industry can be affected by various political, economic, regulatory, and supply-and-demand factors. Furthermore, it can be subject to government approval of products and services, which could have an effect on price and availability, and can be affected by rapid obsolescence and patent expirations. Investments in foreign markets entail special risks such as currency, political, economic, market and liquidity risks. The risks of investing in emerging market countries are greater than risks associated with investments in foreign developed countries. Illiquid securities may be more difficult to sell and value than publicly traded securities (liquidity risk). Derivative instruments may disproportionately increase losses and have a significant impact on performance. They also may be subject to counterparty, liquidity, valuation, correlation and market risks. Privately placed and restricted securities may be subject to resale restrictions as well as a lack of publicly available information, which will increase their illiquidity and could adversely affect the ability to value and sell them (liquidity risk). Stocks of small- and medium-capitalization companies entail special risks, such as limited product lines, markets and financial resources, and greater market volatility than securities of larger, more established companies. 

OTHER CONSIDERATIONS

The Russell 3000 Health Care Net Index is a capitalization-weighted index of companies involved in medical services or health care.

The index is unmanaged and does not include any expenses, fees or sales charges. 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.

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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