Overview

Historical Returns (%) as of Mar 31, 2024

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative.
 

Fund Facts as of Mar 31, 2024

Class I Inception 05/31/2023
Investment Objective Long-term capital appreciation
Total Net Assets $5.8M
Minimum Investment $1000000
Expense Ratio (Gross)2 1.16%
Expense Ratio (Net)2 0.99%
CUSIP 13161X816

Top 10 Holdings (%)3,4 as of Mar 31, 2024

Taiwan Semiconductor Manufacturing Co Ltd 9.39
NU Holdings Ltd/Cayman Islands 7.29
MercadoLibre Inc 7.14
Trent Ltd 5.93
SK Hynix Inc 4.55
Avenue Supermarts Ltd 4.36
Aarti Industries Ltd 4.30
Globant SA 3.96
Localiza Rent a Car SA 3.90
Titan Co Ltd 3.75
Total 54.57
 

Portfolio Management

Vishal Gupta Managed Fund since 2023

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. No portfolio information is currently available.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


1. MSCI Emerging Markets Index is an unmanaged index of emerging markets common stocks. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund. MSCI indexes are net of foreign withholding taxes. Source: MSCI. MSCI data may not be reproduced or used for any other purpose. MSCI provides no warranties, has not prepared or approved this report, and has no liability hereunder.
2. Source: Fund prospectus.
3. Top 10 Holdings excludes cash and equivalents.
4. Percent of total net assets.

Performance

Historical Returns (%) as of Mar 31, 2024

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative.
 

Fund Facts

Class I Inception 05/31/2023
Expense Ratio (Gross)2 1.16%
Expense Ratio (Net)2 0.99%
Distribution Frequency
 

NAV History

Date NAV NAV Change
Apr 26, 2024 $11.33 $0.11
Apr 25, 2024 $11.22 $0.00
Apr 24, 2024 $11.22 $0.04
Apr 23, 2024 $11.18 $0.11
Apr 22, 2024 $11.07 $0.08
Apr 19, 2024 $10.99 -$0.09
Apr 18, 2024 $11.08 -$0.02
Apr 17, 2024 $11.10 -$0.03
Apr 16, 2024 $11.13 -$0.12
Apr 15, 2024 $11.25 -$0.21
 

Distribution History5

Ex-Date Distribution Reinvest NAV
Dec 21, 2023 $0.01330 $11.08
 

Capital Gain History5

Ex-Date Short-Term Long-Term Reinvest NAV

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. No portfolio information is currently available.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


1. MSCI Emerging Markets Index is an unmanaged index of emerging markets common stocks. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund. MSCI indexes are net of foreign withholding taxes. Source: MSCI. MSCI data may not be reproduced or used for any other purpose. MSCI provides no warranties, has not prepared or approved this report, and has no liability hereunder.
2. Source: Fund prospectus.
5. A portion of the Fund's returns may be comprised of return of capital or short term capital gains. The Fund will determine the tax characteristics of all Fund distributions after the end of the calendar year and will provide shareholders such information at that time. Please consult your tax advisor for further information.

Portfolio

Asset Mix (%)4 as of Mar 31, 2024

Portfolio Statistics as of Mar 31, 2024

Number of Holdings 33
 

GICS Sector Breakdown (%)4 as of Mar 31, 2024

Assets by Country (%)4 as of Mar 31, 2024

India 36.77
Brazil 24.24
Taiwan 14.97
Korea 7.94
Mexico 5.51
United States 3.96
Indonesia 2.16
Poland 0.83
Cash & Other Assets 3.63
Total 100.00
 

Geographic Mix (%)4 as of Mar 31, 2024

Asia/Pacific 61.83
Latin America/Caribbean 29.75
North America 3.96
Europe 0.83
Cash & Other Assets 3.63
Total 100.00
 

Fund Holdings (%)4,6 as of Feb 29, 2024

Holding % of Net Assets
Taiwan Semiconductor Manufacturing Co Ltd 8.92%
MercadoLibre Inc 7.82%
NU Holdings Ltd/Cayman Islands 7.03%
Trent Ltd 6.09%
Globant SA 4.55%
SK Hynix Inc 4.47%
Aarti Industries Ltd 4.46%
MSILF GOVERNMENT PORTFOLIO 4.42%
Avenue Supermarts Ltd 3.74%
Titan Co Ltd 3.74%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. No portfolio information is currently available.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


1. MSCI Emerging Markets Index is an unmanaged index of emerging markets common stocks. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. Historical performance of the index illustrates market trends and does not represent the past or future performance of the fund. MSCI indexes are net of foreign withholding taxes. Source: MSCI. MSCI data may not be reproduced or used for any other purpose. MSCI provides no warranties, has not prepared or approved this report, and has no liability hereunder.
4. Percent of total net assets.
6. The following list reflects unaudited securities holdings (excluding derivatives positions). Holdings information may differ if presented as of trade date. Due to rounding, holdings of less than 0.005% may show as 0.00%. Portfolio information subject to change due to active management.

Management

Vishal Gupta

Managing Director
Joined Morgan Stanley in 2014

Biography

Vishal is an investor on Morgan Stanley's Emerging Markets Equity team and a portfolio manager for the Emerging Markets Leaders strategy. He joined Morgan Stanley in 2014 and has 18 years of investment experience.

Prior to joining the firm, Vishal was a Principal at Sansar Capital Management and was an analyst at BRICs Securities.

Vishal received his bachelor's degree in mechanical engineering from Thapar University and an M.B.A. from the Indian Institute of Management, Ahmedabad.

Education
  • B.S. Thapar University, M.B.A. Indian Institute of Management, Ahmedabad

Experience
  • Managed Fund since 2023

 

Literature

Literature

Fact Sheet

Download Fact Sheet - Last updated: Mar 31, 2024

Annual Report

Download Annual Report - Last updated: Dec 31, 2023

Full Prospectus

Download Full Prospectus - Last updated: Dec 21, 2022

Q3 Holdings

Download Q3 Holdings - Last updated: Sep 30, 2023

SAI

Download SAI - Last updated: Dec 21, 2022

Semi-Annual Report

Download Semi-Annual Report - Last updated: Jun 30, 2023

Summary Prospectus

Download Summary Prospectus - Last updated: May 31, 2023