US Dollar Ultra-Short Income Fund

Share Class :
 
ISIN: LU1954528656
Marketing Communication
US Dollar Ultra-Short Income Fund
Marketing Communication
ISIN: LU1954528656
Share Class :

US Dollar Ultra-Short Income Fund

SHARE CLASS :
ISIN: LU1954528656
 

Marketing Communication

 
 
Investment Objective
To provide liquidity and an attractive rate of income relative to short term interest rates, to the extent consistent with the preservation of capital.
Investment Horizon

We believe that a conservative ultra-short fund offers a compelling strategy that seeks to deliver current income while maintaining a focus on preserving capital and liquidity.

Investment Process

The management team follows a multi-pronged investment process with respect to credit risk, interest rate risk and liquidity. Securities are reviewed on an ongoing basis on their ability to maintain creditworthiness taking into consideration factors such as cash flow, asset quality, debt service coverage ratios and economic developments. Additionally, exposure to guarantors and liquidity providers is monitored separately as are the various diversification requirements. The team manages the Portfolio's assets in an attempt to reduce credit or interest rate risks.

 
Fund Highlights
  • Diversified portfolio
  • Managed by the same experienced and specialized portfolio management team that manages the Morgan Stanley Liquidity funds

The value of the investments and the income from them will vary and there can be no assurance that the Fund will achieve its investment objectives.

 
 
Pricing & Performance

Past Performance is not a reliable indicator of future results. The net performance data shown is calculated net of annual fees. The gross performance data shown does not take into account the fees charged on the fund, had fees and charges been taken into account, the returns would have been lower.

Average Annual Total Returns
 
 TIMEFRAME:
 
2021 2020 2019 2018 2017 2016 2015 2014 2013 2012
Share Class QN ACC USD (%) 0.12 0.45 -- -- -- -- -- -- -- --
Average Annual Total Returns
TIMEFRAME Share Class QN ACC USD (%)
2021 0.12
2020 0.45
2019 --
2018 --
2017 --
2016 --
2015 --
2014 --
2013 --
2012 --
 
 
Average Annualised Monthly Yield (%)
 
 
    Nov 2022 Oct 2022 Sep 2022 Aug 2022 Jul 2022 Jun 2022 May 2022 Apr 2022 Mar 2022 Feb 2022 Jan 2022 Dec 2021
Fund (gross) 4.23 3.61 2.97 2.78 2.22 1.70 1.20 0.77 0.56 0.30 0.30 0.26
Fund (net) 4.12 3.50 2.86 2.67 2.11 1.59 1.09 0.66 0.45 0.19 0.19 0.15
 
 
 
Risk and Reward Profile As of 19-Feb-2022
 
 
Lower Risk
High Risk
Potentially
Lower Rewards
Potentially
Higher Rewards
 
The risk and reward category shown is based on historic data.
  • Historic figures are only a guide and may not be a reliable indicator of what may happen in the future.
  • As such this category may change in the future.
  • The higher the category, the greater the potential reward, but also the greater the risk of losing the investment. Category 1 does not indicate a risk free investment.
  • The fund is in this category because it invests in money market securities and the fund's simulated and/or realised return has experienced low rises and falls historically.
This rating does not take into account other risk factors which should be considered before investing, these include:
  • The value of bonds are likely to decrease if interest rates rise and vice versa.
  • Issuers may not be able to repay their debts, if this happens the value of your investment will decrease. This risk is higher where the fund invests in a bond with a lower credit rating.
  • The fund relies on other parties to fulfill certain services, investments or transactions. If these parties become insolvent, it may expose the fund to financial loss.
  • Sustainability factors can pose risks to investments.
  • Past performance is not a reliable indicator of future results. The value of investments and the income from them can go down as well as up and investors may lose all or a substantial portion of his or her investment.
  • The value of the investments and the income from them will vary and there can be no assurance that the Fund will achieve its investment objectives.
The risk and reward category shown is based on historic data.
  • Historic figures are only a guide and may not be a reliable indicator of what may happen in the future.
  • As such this category may change in the future.
  • The higher the category, the greater the potential reward, but also the greater the risk of losing the investment. Category 1 does not indicate a risk free investment.
  • The fund is in this category because it invests in money market securities and the fund's simulated and/or realised return has experienced low rises and falls historically.
This rating does not take into account other risk factors which should be considered before investing, these include:
  • The value of bonds are likely to decrease if interest rates rise and vice versa.
  • Issuers may not be able to repay their debts, if this happens the value of your investment will decrease. This risk is higher where the fund invests in a bond with a lower credit rating.
  • The fund relies on other parties to fulfill certain services, investments or transactions. If these parties become insolvent, it may expose the fund to financial loss.
  • Sustainability factors can pose risks to investments.
  • Past performance is not a reliable indicator of future results. The value of investments and the income from them can go down as well as up and investors may lose all or a substantial portion of his or her investment.
  • The value of the investments and the income from them will vary and there can be no assurance that the Fund will achieve its investment objectives.
 
 
Risk Profile
Currency Risk No
Maximum weighted average maturity (WAM) 180 days
Maximum maturity of individual security 2 years

Daily Market NAV


Daily Transactional NAV

 
 
Composition 3 As of 02-Dec-2022
 
Daily/Weekly Liquid Assets

A1/P1 A1+/P1 A2/P2 Total
0 - 1 week -- 25.05 -- 25.05
1 week - 1 month 4.44 -- 13.01 17.45
1 month - 3 months 7.67 -- 7.66 15.33
3 months - 6 months 5.76 3.17 3.15 12.08
6 months - 1 year 6.20 14.65 -- 20.85
1 year + 2.87 6.37 -- 9.24
  Fund
Commercial Paper 46.32
Floating Rate Note 13.89
Time Deposit 13.31
Corporate Bond 11.81
Commercial Paper - Interest Bearing 5.86
Certificate of Deposit 5.31
Tri-Party Repo 2.66
Cash 0.84
 
May not sum to 100% due to rounding. Breakdown by Rating/Final Maturity (%) reflects the final maturity date for the underlying securities in the portfolio.
 


Geography As of 02-Dec-2022
  Fund
United States 37.58
Canada 21.55
France 10.88
United Kingdom 7.62
Japan 6.37
Australia 4.14
Netherlands 3.73
Switzerland 3.62
Finland 2.66
Sweden 1.85
 
May not sum to 100% due to rounding.


 
 

Please visit our Glossary page for fund related terms and definitions.

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

Past performance is not a reliable indicator of future results. 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.  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.

1 As of 25 April 2019.

2 The Minimum Initial Investment/Minimum Subsequent Investment amounts may be in US Dollars (or the Euro or Sterling equivalent of the US Dollar amount). For more information please see the Charges and Expenses section of the prospectus.

3 May not sum to 100% due to rounding.

The Mark to Market NAV is a calculation of the underlying aggregate value of the securities in a fund's portfolio using current market quotes or other performance metrics. It is important to note this is being provided for informational use only and investors cannot transact on the mark to market NAV. The Morgan Stanley Liquidity funds continue to operate at a stable net asset value in their distributing shares utilising amortised cost accounting.

Each Fund is authorised to invest up to 100% of its assets in Money Market Instruments issued or guaranteed separately or jointly by a Sovereign Entity and by any other member states of the OECD and their central authorities or central banks subject to certain conditions. Please see Prospectus for further details.

The Fund is not a guaranteed investment and is different from an investment in deposits. The Fund does not rely on external support for guaranteeing the liquidity of the Fund or stabilising the NAV per share. The value of investments and the income from them may go down as well as up and you may not get back the amount you originally invested.

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.

 

This is a Marketing Communication.

Please be aware that liquidity instruments may be subject to certain additional risks. 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 a rising interest-rate environment, bond prices may fall. In a declining interest-rate environment, the portfolio may generate less income.

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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