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Global Infrastructure Portfolio
mutual fund
MBGIX
Payout Change
Pending
Price as of:
$6.91
+0.0
+0.0%
primary theme
N/A
share class
MBGIX (Mutual Fund)
Global Infrastructure Portfolio
Payout Change
Pending
Price as of:
$6.91
+0.0
+0.0%
primary theme
N/A
share class
MBGIX (Mutual Fund)
Global Infrastructure Portfolio
Payout Change
Pending
Price as of:
$6.91
+0.0
+0.0%
primary theme
N/A
share class
Name
As of 12/06/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
16.3%
1 yr return
19.8%
3 Yr Avg Return
5.2%
5 Yr Avg Return
5.7%
Net Assets
$73.9 M
Holdings in Top 10
43.2%
52 WEEK LOW AND HIGH
$6.9
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.40%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 59.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/06/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
MBGIX - Profile
Distributions
- YTD Total Return 16.3%
- 3 Yr Annualized Total Return 5.2%
- 5 Yr Annualized Total Return 5.7%
- Capital Gain Distribution Frequency Semi-Annually
- Net Income Ratio 2.11%
- Dividend Yield 2.6%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameGlobal Infrastructure Portfolio
-
Fund Family NameMorgan Stanley Funds
-
Inception DateMay 01, 2017
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMatthew King
Fund Description
The Fund normally invests at least 80% of its assets in equity securities issued by companies located throughout the world that are engaged in the infrastructure business. A company is considered to be in the infrastructure business if it derives at least 50% of its revenues or earnings from, or devotes at least 50% of its assets to, infrastructure-related activities. Infrastructure refers to the systems and networks of energy, transportation, communication, utilities and other services required for the normal function of society. Companies in the infrastructure business may be involved in a variety of areas, including, but not limited to, (i) the transmission, distribution, storage or transportation of electricity, oil and gas (and other bulk liquid products), water, and other natural resources used to produce energy, (ii) the construction and operation of renewable power facilities, (iii) the development, ownership, lease, concession, or management of highways, toll roads, tunnels, bridges, pipelines, airports, marine ports, refueling and related facilities, (iv) the provision of communications, including the development, lease, concession, or management of telephone, broadcast and mobile towers, fiber optic/copper cable, and satellite networks, (v) waste-water management, water purification/desalination, and other waste operations and (vi) the construction or operation of essential public structures. The Fund’s equity investments may include real estate investment trusts (“REITs”). The Fund’s investments may include securities of small and medium capitalization companies. The Fund may invest up to 100% of its net assets in foreign securities, which may include emerging market securities. Under normal market conditions, the Fund typically invests at least the lesser of (i) 40% of its total assets in the securities of issuers located outside of the United States or (ii) an amount of its total assets equal to the approximate percentage of issuers located outside of the United States included in the Dow Jones Brookfield Global Infrastructure IndexSM, unless the Adviser determines, in its sole discretion, that conditions are not favorable. If the Adviser determines that conditions are not favorable, the Fund may invest under
40% of its total assets in the securities of issuers located outside of the United States, provided that the Fund will not invest less than 30% of its total assets in such securities except for temporary defensive purposes. In addition, under normal market conditions, the Fund invests in the securities of issuers from at least three different countries, which may include the United States.
The Adviser allocates the Fund’s assets between the different types of companies in the infrastructure business based on relative valuation, underlying company fundamentals, and demographic and macroeconomic considerations. The Fund has a fundamental policy (i.e., one that cannot be changed without shareholder approval) of investing 25% or more of its assets in the infrastructure industry.
In selecting securities to buy, hold or sell for the Fund, the Adviser actively manages the Fund using a combination of bottom-up and top-down methodologies. The value-driven approach to bottom-up security selection utilizes proprietary research models to identify infrastructure companies that offer the best value relative to their underlying assets and growth prospects. The top-down allocation provides exposure to major economic infrastructure sectors and countries, with an overweighting to those sectors/countries that offer the best relative valuation.
When deemed by the Adviser to be relevant to its evaluation of a company’s financial performance and when applicable information is available, the Adviser considers financially material environmental, social and/or governance issues (referred to as ESG) which may impact the prospects of an issuer or long-term stock price performance of a company. When considered, one or more ESG issues are taken into account alongside other factors in the investment decision-making process and are not the sole determinant of whether an investment can be made or will remain in the Fund’s portfolio.
MBGIX - Performance
Return Ranking - Trailing
| Period | MBGIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 16.3% | -7.5% | 32.2% | 34.04% |
| 1 Yr | 19.8% | -1.9% | 42.5% | 25.53% |
| 3 Yr | 5.2%* | -10.8% | 19.0% | 31.91% |
| 5 Yr | 5.7%* | -0.7% | 22.2% | 54.55% |
| 10 Yr | N/A* | 2.6% | 8.8% | 34.78% |
* Annualized
Return Ranking - Calendar
| Period | MBGIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -12.6% | -17.5% | 30.1% | 88.30% |
| 2022 | -16.1% | -28.1% | -3.4% | 81.91% |
| 2021 | 7.5% | -28.7% | 35.7% | 51.69% |
| 2020 | -4.4% | -12.5% | 28.8% | 58.44% |
| 2019 | 19.4% | 9.9% | 33.6% | 82.89% |
Total Return Ranking - Trailing
| Period | MBGIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 16.3% | -7.5% | 32.2% | 34.04% |
| 1 Yr | 19.8% | -1.9% | 42.5% | 25.53% |
| 3 Yr | 5.2%* | -10.8% | 19.0% | 31.91% |
| 5 Yr | 5.7%* | -0.7% | 22.2% | 54.55% |
| 10 Yr | N/A* | 2.6% | 8.8% | 28.26% |
* Annualized
Total Return Ranking - Calendar
| Period | MBGIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.7% | -15.6% | 31.0% | 46.81% |
| 2022 | -8.0% | -27.1% | -0.5% | 59.57% |
| 2021 | 14.3% | -3.5% | 36.4% | 49.44% |
| 2020 | -1.2% | -11.2% | 29.9% | 37.66% |
| 2019 | 28.3% | 16.7% | 35.3% | 42.11% |
NAV & Total Return History
MBGIX - Holdings
Concentration Analysis
| MBGIX | Category Low | Category High | MBGIX % Rank | |
|---|---|---|---|---|
| Net Assets | 73.9 M | 1.83 M | 8.77 B | 79.79% |
| Number of Holdings | 53 | 26 | 233 | 38.30% |
| Net Assets in Top 10 | 31.9 M | 823 K | 5.61 B | 79.79% |
| Weighting of Top 10 | 43.16% | 8.2% | 62.5% | 43.62% |
Top 10 Holdings
- National Grid PLC 7.37%
- American Tower Corp 7.02%
- Enbridge Inc 4.56%
- TC Energy Corp 4.15%
- Sempra 3.69%
- ONEOK Inc 3.39%
- Cellnex Telecom SA 3.35%
- Targa Resources Corp 3.25%
- GFL Environmental Inc 3.19%
- Pembina Pipeline Corp 3.18%
Asset Allocation
| Weighting | Return Low | Return High | MBGIX % Rank | |
|---|---|---|---|---|
| Stocks | 98.47% | 86.92% | 101.95% | 41.49% |
| Cash | 1.53% | 0.00% | 8.62% | 42.55% |
| Preferred Stocks | 0.00% | 0.00% | 2.81% | 86.17% |
| Other | 0.00% | -0.22% | 3.96% | 78.72% |
| Convertible Bonds | 0.00% | 0.00% | 2.46% | 85.11% |
| Bonds | 0.00% | 0.00% | 6.41% | 86.17% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MBGIX % Rank | |
|---|---|---|---|---|
| Utilities | 36.27% | 3.71% | 96.19% | 70.21% |
| Energy | 25.70% | 0.00% | 32.46% | 11.70% |
| Industrials | 20.71% | 0.00% | 68.24% | 60.64% |
| Real Estate | 11.77% | 0.00% | 23.51% | 27.66% |
| Communication Services | 5.55% | 0.00% | 27.53% | 26.60% |
| Technology | 0.00% | 0.00% | 25.65% | 94.68% |
| Healthcare | 0.00% | 0.00% | 6.54% | 85.11% |
| Financial Services | 0.00% | 0.00% | 17.28% | 86.17% |
| Consumer Defense | 0.00% | 0.00% | 0.99% | 85.11% |
| Consumer Cyclical | 0.00% | 0.00% | 10.02% | 87.23% |
| Basic Materials | 0.00% | 0.00% | 25.54% | 89.36% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MBGIX % Rank | |
|---|---|---|---|---|
| US | 54.59% | 1.96% | 99.99% | 39.36% |
| Non US | 43.88% | 0.00% | 97.95% | 57.45% |
MBGIX - Expenses
Operational Fees
| MBGIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.40% | 0.30% | 10.15% | 34.04% |
| Management Fee | 0.85% | 0.30% | 1.00% | 72.34% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.08% | 0.04% | 0.15% | 57.14% |
Sales Fees
| MBGIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 4.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| MBGIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 2.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| MBGIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 59.00% | 13.00% | 128.00% | 57.53% |
MBGIX - Distributions
Dividend Yield Analysis
| MBGIX | Category Low | Category High | MBGIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.57% | 0.00% | 5.50% | 98.94% |
Dividend Distribution Analysis
| MBGIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | SemiAnnual | Monthly | Quarterly |
Net Income Ratio Analysis
| MBGIX | Category Low | Category High | MBGIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.11% | -0.39% | 4.38% | 20.00% |
Capital Gain Distribution Analysis
| MBGIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Semi-Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Jul 06, 2023 | $0.181 | OrdinaryDividend |
| Jul 06, 2023 | $1.000 | CapitalGainLongTerm |
| Jul 06, 2022 | $0.229 | OrdinaryDividend |
| Jul 06, 2022 | $0.077 | CapitalGainShortTerm |
| Jul 06, 2022 | $0.370 | CapitalGainLongTerm |
| Jul 07, 2021 | $0.213 | OrdinaryDividend |
| Jul 07, 2021 | $0.302 | CapitalGainLongTerm |
| Jul 07, 2020 | $0.127 | OrdinaryDividend |
| Jul 07, 2020 | $0.117 | CapitalGainLongTerm |
| Jul 05, 2019 | $0.218 | OrdinaryDividend |
| Jul 05, 2019 | $0.354 | CapitalGainLongTerm |
| Jul 05, 2018 | $0.037 | CapitalGainShortTerm |
| Jul 05, 2018 | $0.255 | CapitalGainLongTerm |
| Jul 05, 2018 | $0.234 | OrdinaryDividend |
| Jul 05, 2017 | $0.007 | CapitalGainShortTerm |
| Jul 05, 2017 | $0.374 | CapitalGainLongTerm |
| Jul 05, 2017 | $0.190 | OrdinaryDividend |
MBGIX - Fund Manager Analysis
Managers
Matthew King
Start Date
Tenure
Tenure Rank
Apr 30, 2014
8.09
8.1%
Matthew ("Matt") King joined Morgan Stanley in 2008 and has been with financial industry since 2000. He is a Managing Director at Morgan Stanley Investment Management and since joining the firm, continues to be Portfolio Manager for the Global Infrastructure Securities Strategy, where he is responsible for primary, day-to-day management of the portfolios as well as directing the team’s sector and company research. Previously, Matt worked at Bear Stearns in a variety of roles including investment banking and research, during which time he provided research and analytical support for a number of infrastructure-related financings. Matt received a B.A. magna cum laude in diplomacy and world affairs from Occidental College, and an MBA with honors from Columbia Business School.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.17 | 18.18 | 5.83 | 8.08 |
