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Products & Performance Mutual Funds U.S. Equity US Core Portfolio
Share
Print
US CORE PORTFOLIO
Share Class : A C I R6
MUOIX CUSIP: 61766J849
Overall Morningstar Rating
Products & Performance Mutual Funds U.S. Equity US Core Portfolio
Share
Print
US Core Portfolio
MUOIX CUSIP: 61766J849
Share Class : A C I R6
US CORE PORTFOLIO
SHARE CLASS :
A C I R6
MUOIX CUSIP: 61766J849
Overall Morningstar Rating
Ratings are historical and do not guarantee future results. For standardized
ratings information refer to the Pricing & Performance section. Please click
here for additional disclosures.
* Overview
* Pricing & Performance
* Composition
* Portfolio Managers
* Resources
Fund Facts
Asset Class: U.S. Equity Morningstar Category: Large Blend Lipper Category:
Multi-Cap Core
Fund Inception Date:
05/27/2016 Share Class Inception Date: 05/27/2016
--------------------------------------------------------------------------------
Net Asset Value ($):
as of 08/02/2022 21.13 Fund Assets ($MM):
as of 08/01/2022 198.02 Distribution Frequency:
Annually
Benchmark: S&P 500 Total Return Index
Fees & Expenses
Gross Expense Ratio (%): 1.07 Net Expense Ratio (%): 0.80 Management Fee (%):
0.60 Minimum Initial Investment ($): 1,000,000
Morningstar Rating & Rankings
as of 06/30/2022
Overall Rating
Out of 1225 Funds.
Class I Shares Fund ratings out of 5 Stars:
3Yrs. 5 Stars; 5Yrs. 4 Stars .
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Percentile Rank/Total in Category 1 Yr 24 294/1359 3 Yr 1 6/1225 5 Yr 4
46/1107
--------------------------------------------------------------------------------
Rankings are based on total returns, are historical and do not guarantee future
results. Ratings are based on Risk Adjusted Return. For additional Morningstar
information, refer to the disclosures below.
OVERVIEW
Fund Facts
Asset Class: U.S. Equity Morningstar Category: Large Blend Lipper Category:
Multi-Cap Core
Fund Inception Date:
05/27/2016 Share Class Inception Date: 05/27/2016
--------------------------------------------------------------------------------
Net Asset Value ($):
as of 08/02/2022 21.13 Fund Assets ($MM):
as of 08/01/2022 198.02 Distribution Frequency:
Annually
Benchmark: S&P 500 Total Return Index
Fees & Expenses
Gross Expense Ratio (%): 1.07 Net Expense Ratio (%): 0.80 Management Fee (%):
0.60 Minimum Initial Investment ($): 1,000,000
Investment Objective
Seeks long-term capital appreciation.
Investment Approach
Seeks to outperform the benchmark regardless of which investment style – value
or growth – is currently in favor. Their flexible approach combines quantitative
models with stock-specific research to identify 30-60 companies in the U.S. with
attractive valuations, above-average appreciation potential and competitive
dividend yields
PRICING & PERFORMANCE
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.
* Growth of Investment
* Historical NAV
As of 06/30/2022
As of 08/02/2022
As of 06/30/2022
As of 08/02/2022
*
Performance of $10,000 invested
Performance of $10,000 invested
Download
Created with Highstock 2.1.4Cash Value
($)05/27/201611/30/201705/31/201912/31/202006/30/20225k10k15k20k25k30k
MUOIX
S&P 500 Total Return Index
*
From: To:
Download
Past performance is not indicative of future results.
Average Annual Total Returns As of 06/30/2022 As of 06/30/2022
TIMEFRAME:
* Month-end
* Quarter-end
* Calendar Year
1 YR 3 YRS 5 YRS 10 YRS Since Inception MUOIX -8.80 14.25 12.24 -- 12.22 S&P 500
Total Return Index (%) -10.62 10.60 11.31 -- 12.21 Lipper Category Average (%)
-13.94 8.07 8.80 -- -- Morningstar Category Average (%) -11.58 9.14 9.77 -- --
Created with Highstock 2.1.4%-20-1001020
MUOIX
S&P 500 Total Return Index
Lipper Category Average
Morningstar Category Average
1 YR 3 YRS 5 YRS 10 YRS Since Inception MUOIX -8.80 14.25 12.24 -- 12.22 S&P 500
Total Return Index (%) -10.62 10.60 11.31 -- 12.21 Lipper Category Average (%)
-13.94 8.07 8.80 -- -- Morningstar Category Average (%) -11.58 9.14 9.77 -- --
2021 2020 2019 2018 2017 2016 2015 MUOIX 35.99 24.20 36.01 -11.00 19.33 -- --
S&P 500 Total Return Index (%) 28.71 18.40 31.49 -4.38 21.83 -- -- Lipper
Category Average (%) 23.82 42.82 29.31 -5.64 20.65 -- -- Morningstar Category
Average (%) 26.07 15.83 28.78 -6.27 20.44 -- --
Average Annual Total Returns
* Monthly
* Quarterly
* Calendar Year
As of 06/30/2022
TIMEFRAME MUOIX S&P 500 Total Return Index (%) Lipper Category Average (%)
Morningstar Category Average (%) 1 Yr -8.80 -10.62 -13.94 -11.58 3 Yrs 14.25
10.60 8.07 9.14 5 Yrs 12.24 11.31 8.80 9.77 10 Yrs -- -- -- -- Since Inception
12.22 12.21 } -- --
As of 06/30/2022
TIMEFRAME MUOIX S&P 500 Total Return Index (%) Lipper Category Average (%)
Morningstar Category Average (%) 1 Yr -8.80 -10.62 -13.94 -11.58 3 Yrs 14.25
10.60 8.07 9.14 5 Yrs 12.24 11.31 8.80 9.77 10 Yrs -- -- -- -- Since Inception
12.22 12.21 } -- --
TIMEFRAME MUOIX S&P 500 Total Return Index (%) Lipper Category Average (%)
Morningstar Category Average (%) 2021 35.99 28.71 23.82 26.07 2020 24.20 18.40
42.82 15.83 2019 36.01 31.49 29.31 28.78 2018 -11.00 -4.38 -5.64 -6.27 2017
19.33 21.83 20.65 20.44 2016 -- -- -- -- 2015 -- -- -- --
Past performance is not indicative of future results. The Portfolio's calendar
year returns do not include the deduction of any applicable sales charges.
Risk/Return Statistics As of 06/30/2022
As of 06/30/2022
TIMEFRAME:
* 3 Yrs
* 5 Yrs
MUOIX Index Alpha (%) 2.50 -- Beta (vs. benchmark) 1.11 1.00 Excess return
(%) 3.65 -- Information ratio 0.74 -- R squared 0.96 1.00 Sharpe ratio 0.64 0.54
Standard deviation (%) 21.25 18.64 Tracking error (%) 4.96 --
MUOIX Index Alpha (%) 0.02 -- Beta (vs. benchmark) 1.09 1.00 Excess return
(%) 0.93 -- Information ratio 0.21 -- R squared 0.95 1.00 Sharpe ratio 0.59 0.60
Standard deviation (%) 18.90 16.95 Tracking error (%) 4.37 --
Past performance is not indicative of future results.
Distributions
Tax Center
Record Date Ex-Date Payable Date Net Investment Income ($ per share) Long-Term
Capital Gains ($ per share) Short-Term Capital Gains ($ per share) Total Capital
Gains ($ per share)
xx/xx/xxxx
xx/xx/xxxx
xx/xx/xxxx
0.000000
0.000000
0.000000
0.000000
12/10/2021 12/13/2021 12/13/2021 0.010434 0.000000 0.000000 0.000000 12/10/2020
12/11/2020 12/11/2020 0.000000 0.053900 0.000000 0.053900
Record Date Ex-Date Payable Date Net Investment Income ($ per share) Long-Term
Capital Gains ($ per share) Short-Term Capital Gains ($ per share) Total Capital
Gains ($ per share)
12/10/2021 12/13/2021 12/13/2021 0.010434 0.000000 0.000000 0.000000 12/10/2020
12/11/2020 12/11/2020 0.000000 0.053900 0.000000 0.053900
Morningstar Rating & Rankings
as of 06/30/2022
Overall Rating
Out of 1225 Funds.
Class I Shares Fund ratings out of 5 Stars:
3Yrs. 5 Stars; 5Yrs. 4 Stars .
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Percentile Rank/Total in Category 1 Yr 24 294/1359 3 Yr 1 6/1225 5 Yr 4
46/1107
--------------------------------------------------------------------------------
Rankings are based on total returns, are historical and do not guarantee future
results. Ratings are based on Risk Adjusted Return. For additional Morningstar
information, refer to the disclosures below.
COMPOSITION
Composition As of 06/30/2022
* Sector Allocation
(% of Total Net Assets)
As of 06/30/2022
Created with Highstock 2.1.4
Fund Index
Financials 20.34 10.84
Information Technology 20.09 26.84
Consumer Discretionary 12.06 10.54
Health Care 8.60 15.14
Industrials 7.98 7.81
Real Estate 7.20 2.92
Communication Services 6.66 8.87
Consumer Staples 6.56 6.99
Energy 6.50 4.35
Utilities 3.04 3.10
Cash 0.96 --
May not sum to 100% due to the exclusion of other assets and liabilities.
Holdings As of 06/30/2022
* Top Holdings
(% of Total Net Assets)
Fund Index Apple Inc 8.88 6.59 Microsoft Corp 8.87 6.02 Alphabet Inc 6.66 3.95
Chevron Corp 5.65 0.89 First Republic Bank 4.62 0.08 Danaher Corp 4.55 0.51
Ameriprise Financial Inc 4.19 0.08 Waste Management Inc 4.05 0.18 Store Capital
Corp 4.02 -- McDonald's Corp 3.56 0.57 Total 55.05 --
Complete holdings for US Core Portfolio will be publicly available on a
quarterly basis 15 calendar days after the quarter-end by calling (800) 548-7786
or emailing client service at msimcs@morganstanley.com
Portfolio Characteristics As of 06/30/2022
As of 06/30/2022
Fund Index Active share (%) 75.83 -- Number of holdings 35 503 Price/earnings
(NTM) a 17.49 16.27 Weighted average market capitalization ($B) 490.89 447.05
Turnover (%) 26 --
Portfolio turnover is sourced from the fund's current prospectus. View current
prospectus for the as of date.
PORTFOLIO MANAGERS
Portfolio Managers
Andrew Slimmon
Head of Applied Equity Advisors Team
35 years industry experience
Phillip Kim
Executive Director
18 years industry experience
Insights by Applied Equity Advisors Team
Takeaways & Key Expectations
Equity Market Commentary - June 2022
Jun 08, 2022
Senior portfolio manager Andrew Slimmon posits there is a greater than 50%
chance that the S&P 500 has already hit the low for 2022 and the economy will
prove to be more resilient than the bears predict. In his June TAKE, Andrew
offers compelling reasons for this call, as well as some arguments against.
Takeaways & Key Expectations
Equity Market Commentary - May 2022
May 03, 2022
In his May TAKE, senior portfolio manager Andrew Slimmon explains why his thesis
on 2022 remains consistent since his initial January outlook webcast. 2022 will
be a battleground year between positive and negative influences. He expects the
negatives to overwhelm in the first part . . .
RESOURCES
Resources
Product Literature
Fact Card
Investment Idea
Spotlight
Prospectus & Reports
Summary Prospectus
Prospectus
Semi-Annual Report
Annual Report
SAI
Download
Email
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. Expenses are based on
the fund's current prospectus.
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.
Forecasts/estimates are based on current market conditions, subject to change,
and may not necessarily come to pass.
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. 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. Price/earnings (NTM) This forward P/E ratio estimates a company's
likely earnings per share for the next 12 months. Weighted Average Market
Capitalization is an average of the market capitalization of stocks comprising a
portfolio or index, adjusted by each stock’s weight in the portfolio or index.
Turnover is sourced from the fund's current prospectus.
RISK/RETURN DEFINITIONS
Alpha (Jensen's) is a risk-adjusted performance measure that represents the
average return on a portfolio or investment above or below that predicted by the
capital asset pricing model (CAPM) given the portfolio's or investment's beta
and the average market return. Prior to 6/30/2018 Alpha was calculated as the
excess return of the fund versus benchmark. Beta is a measure of the relative
volatility of a security or portfolio to the market's upward or downward
movements. Excess return or value added (positive or negative) is the
portfolio’s return relative to the return of the benchmark. Information ratio is
the portfolio’s alpha or excess return per unit of risk, as measured by tracking
error, versus the portfolio’s benchmark. R squared measures how well an
investment’s returns correlate to an index. An R squared of 1.00 means the
portfolio performance is 100% correlated to the index’s, whereas a low r-squared
means that the portfolio performance is less correlated to the index’s. Sharpe
ratio is a risk-adjusted measure calculated as the ratio of excess return to
standard deviation. Standard deviation measures how widely individual
performance returns, within a performance series, are dispersed from the average
or mean value. Tracking error is the amount by which the performance of the
portfolio differs from that of the benchmark.
RISK CONSIDERATIONS
There is no assurance that a mutual fund will achieve its investment objective.
Funds are subject to market risk, which is the possibility that the market
values of securities owned by the fund will decline and that the value of fund
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 fund. Please be aware that this fund may be
subject to certain additional risks. In general, equities securities’values also
fluctuate in response to activities specific to a company. Stocks of small-and
medium-capitalizationcompanies entail special risks, such as limited product
lines, markets and financial resources, and greater market volatility than
securities of larger, more established companies. Illiquid securities may be
more difficult to sell and value than publicly traded securities (liquidity
risk). Non-diversified portfolios often invest in a more limited number of
issuers. As such, changes in the financial condition or market value of a single
issuer may cause greater volatility. 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.
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 and countries presented.
OTHER CONSIDERATIONS
The S&P 500 Index measures the performance of the large cap segment of the U.S.
equities market, covering approximately 80% of the U.S. equities market. The
Index includes 500 leading companies in leading industries of the U.S. economy.
The S&P Index is one of the most widely used benchmarks of U.S. equity
performance.
The index is unmanaged and do 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 is the asset management division of Morgan
Stanley.
a
NTM = Next Twelve Months
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.
This is a Marketing Communication.
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