Overview

Historical Returns (%) as of Sep 30, 2024

11/30/202409/30/2024
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. Max Sales Charge: 5.25%.
 

Fund Facts as of Nov 30, 2024

Class A Inception 05/31/2023
Investment Objective Long-term capital appreciation
Total Net Assets $6.0M
Minimum Investment $1000
Expense Ratio (Gross)2 5.64%
Expense Ratio (Net)2 1.24%
CUSIP 13161X832

Top 10 Holdings (%)3,4 as of Sep 30, 2024

Taiwan Semiconductor Manufacturing Co Ltd 10.92
MercadoLibre Inc 9.56
Trent Ltd 6.89
NU Holdings Ltd/Cayman Islands 5.81
Avenue Supermarts Ltd 4.77
TVS Motor Co Ltd 4.28
Bharti Airtel Ltd 4.16
HDFC Bank Ltd 4.13
Localiza Rent a Car SA 4.11
Globant SA 3.81
Total 58.45
 

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.

See the Fund's prospectus for information related to a primary benchmark index selected (if applicable) to comply with a regulation that requires the Fund's primary benchmark to represent the overall applicable market.


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 Sep 30, 2024

11/30/202409/30/2024
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. Max Sales Charge: 5.25%.
 

Fund Facts

Class A Inception 05/31/2023
Expense Ratio (Gross)2 5.64%
Expense Ratio (Net)2 1.24%
Distribution Frequency Annually
 

NAV History

Date NAV NAV Change
Dec 20, 2024 $11.18 $0.05
Dec 19, 2024 $11.13 -$0.29
Dec 18, 2024 $11.42 -$0.28
Dec 17, 2024 $11.70 -$0.07
Dec 16, 2024 $11.77 -$0.06
Dec 13, 2024 $11.83 $0.00
Dec 12, 2024 $11.83 -$0.18
Dec 11, 2024 $12.01 $0.13
Dec 10, 2024 $11.88 -$0.04
Dec 09, 2024 $11.92 -$0.09
 

Distribution History5

Ex-Date Distribution Reinvest NAV
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus
 

Capital Gain History5

Ex-Date Short-Term Long-Term Reinvest NAV
Dec 19, 2024 $0.32720

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.

See the Fund's prospectus for information related to a primary benchmark index selected (if applicable) to comply with a regulation that requires the Fund's primary benchmark to represent the overall applicable market.


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 Sep 30, 2024

Portfolio Statistics as of Sep 30, 2024

Number of Holdings 33
 

GICS Sector Breakdown (%)4 as of Sep 30, 2024

Assets by Country (%)4 as of Sep 30, 2024

India 41.46
Brazil 26.89
Taiwan 19.28
United States 3.81
Mexico 3.60
Korea 1.34
Poland 0.22
Indonesia 0.21
Cash & Other Assets 3.19
Total 100.00
 

Geographic Mix (%)4 as of Sep 30, 2024

Asia/Pacific 62.29
Latin America/Caribbean 30.49
North America 3.81
Europe 0.22
Cash & Other Assets 3.19
Total 100.00
 

Fund Holdings (%)4,6 as of Oct 31, 2024

Holding % of Net Assets
Taiwan Semiconductor Manufacturing Co Ltd 11.76%
MercadoLibre Inc 9.84%
NU Holdings Ltd/Cayman Islands 6.66%
MSILF GOVERNMENT PORTFOLIO MSILF GOVERNMENT PORTFOLIO 5.28%
Trent Ltd 5.00%
HDFC Bank Ltd 4.28%
Globant SA 4.18%
Localiza Rent a Car SA 4.11%
Bharti Airtel Ltd 4.04%
TVS Motor Co Ltd 3.85%
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.

See the Fund's prospectus for information related to a primary benchmark index selected (if applicable) to comply with a regulation that requires the Fund's primary benchmark to represent the overall applicable market.


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

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Annual Financial Statements and Add'l Information

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Semi-Annual Financial Statements and Add'l Information

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Annual Report

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Full Prospectus

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Q1 Holdings

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Q3 Holdings

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SAI

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Semi-Annual Report

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Summary Prospectus

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