Morgan Stanley Mutual Fund announced today the launch of an openended debt fund ' Morgan Stanley Ultra Short Term Fund'. The investment objective of the fund is to provide liquidity and generate reasonable returns from a portfolio of money market and short-term debt instruments. The fund will be benchmarked against CRISIL Liquid Fund Index and will be managed by Ritesh Jain, Head of Fixed Income and Lead Portfolio Manager, Fixed Income Boutique at Morgan Stanley Mutual Fund.
The New Fund Offer is priced at Rs. 1000 per unit and will be open for subscription from July 17, 2013 to July 24, 2013 and will open for repurchase from July 29, 2013.
Morgan Stanley Investment Management in India
The India Magnum Fund, an offshore fund set up in 1989, marked the entry of Morgan Stanley in the Indian market. In 1994, Morgan Stanley launched its first domestic fund, Morgan Stanley Growth Fund (MSGF). As of June 28, 2013, Morgan Stanley Mutual Fund had a quarterly average of Rs. 3022 crore in assets under management.
Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has 558 investment professionals around the world and approximately $341 billion in assets under management or supervision as of March 31, 2013. MSIM strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,200 offices in 37 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.
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