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Permanence Portfolio
mutual fund
MSHPX
Payout Change
Pending
Price as of:
$15.36
+0.09
+0.59%
primary theme
U.S. Large-Cap Growth Equity
share class
MSHPX (Mutual Fund)
Permanence Portfolio
Payout Change
Pending
Price as of:
$15.36
+0.09
+0.59%
primary theme
U.S. Large-Cap Growth Equity
share class
MSHPX (Mutual Fund)
Permanence Portfolio
Payout Change
Pending
Price as of:
$15.36
+0.09
+0.59%
primary theme
U.S. Large-Cap Growth Equity
share class
Name
As of 12/09/2024Price
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
20.3%
1 yr return
27.5%
3 Yr Avg Return
7.4%
5 Yr Avg Return
N/A
Net Assets
$4.51 M
Holdings in Top 10
53.6%
52 WEEK LOW AND HIGH
$15.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 11.18%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 70.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/09/2024Price
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
MSHPX - Profile
Distributions
- YTD Total Return 20.3%
- 3 Yr Annualized Total Return 7.4%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.07%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NamePermanence Portfolio
-
Fund Family NameMorgan Stanley Funds
-
Inception DateApr 06, 2020
-
Shares OutstandingN/A
-
Share ClassR6
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJason Yeung
Fund Description
Under normal market conditions, the Adviser seeks to achieve the Fund’s investment objective by investing primarily in equity securities of established companies located in the United States, with capitalizations within the range of companies included in the S&P 500® Index.
The Adviser emphasizes a bottom-up stock selection process, seeking attractive investments on an individual company basis. In selecting securities for investment, the Adviser typically invests in companies it believes have strong name recognition and sustainable competitive advantages with above average business visibility, the ability to deploy capital at high rates of return, strong balance sheets and an attractive risk/reward. The Adviser typically focuses a significant portion of the Fund’s investments in a limited number of issuers, which may be in the same industry, sector or geographic region.
The Fund will make long-term investments in companies that the Adviser believes have the most durable long-term competitive advantages. The Fund may also invest in more moderate growth companies, companies with lower earnings volatility and/or companies with some cyclicality in their end markets.
The Adviser actively integrates sustainability into the investment process by using environmental, social and governance (“ESG”) factors as a lens for additional fundamental research, which can contribute to investment decision-making. The Adviser seeks to understand how environmental and social initiatives within companies can create value by strengthening durable competitive advantages, creating growth opportunities, driving profitability and/or aligning with secular growth trends. The Adviser generally engages with company management teams to discuss their ESG practices, with the aim of identifying how sustainability themes present opportunities and risks that can be material to the value of the security over the long-term. Other aspects of the investment process include a proprietary, systematic evaluation of governance policies, specifically focusing on compensation alignment on long-
term value creation. Although consideration of ESG factors is incorporated into the investment process, it is only one of many tools the Adviser utilizes to make investment decisions.
The Fund may invest in foreign securities, which may include emerging market securities.
MSHPX - Performance
Return Ranking - Trailing
| Period | MSHPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 20.3% | 0.0% | 60.1% | 90.09% |
| 1 Yr | 27.5% | 3.4% | 82.4% | 87.73% |
| 3 Yr | 7.4%* | -20.7% | 35.7% | 61.56% |
| 5 Yr | N/A* | -12.6% | 30.6% | N/A |
| 10 Yr | N/A* | -4.3% | 21.2% | N/A |
* Annualized
Return Ranking - Calendar
| Period | MSHPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 14.3% | -74.1% | 72.4% | 92.97% |
| 2022 | -22.6% | -85.9% | 4.7% | 8.53% |
| 2021 | -1.5% | -52.4% | 60.5% | 76.71% |
| 2020 | N/A | -34.3% | 145.0% | N/A |
| 2019 | N/A | -6.9% | 49.4% | N/A |
Total Return Ranking - Trailing
| Period | MSHPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 20.3% | 0.0% | 60.1% | 90.09% |
| 1 Yr | 27.5% | 3.4% | 82.4% | 87.73% |
| 3 Yr | 7.4%* | -20.7% | 35.7% | 61.56% |
| 5 Yr | N/A* | -12.6% | 30.6% | N/A |
| 10 Yr | N/A* | -4.3% | 21.2% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | MSHPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 26.5% | -4.6% | 72.4% | 83.67% |
| 2022 | -20.5% | -61.7% | 5.6% | 12.23% |
| 2021 | 17.0% | -39.8% | 118.1% | 74.84% |
| 2020 | N/A | 2.8% | 149.2% | N/A |
| 2019 | N/A | -5.2% | 49.4% | N/A |
NAV & Total Return History
MSHPX - Holdings
Concentration Analysis
| MSHPX | Category Low | Category High | MSHPX % Rank | |
|---|---|---|---|---|
| Net Assets | 4.51 M | 296 K | 287 B | 98.73% |
| Number of Holdings | 71 | 2 | 3061 | 40.93% |
| Net Assets in Top 10 | 2.47 M | 126 K | 150 B | 98.91% |
| Weighting of Top 10 | 53.59% | 0.7% | 205.0% | 49.59% |
Top 10 Holdings
- Cloudflare Inc 8.93%
- Intercontinental Exchange Inc 6.48%
- Floor Decor Holdings Inc 6.11%
- American Tower Corp 5.61%
- Danaher Corp 5.08%
- Royalty Pharma PLC 4.94%
- Union Pacific Corp 4.89%
- Eurofins Scientific SE 3.96%
- Texas Pacific Land Corp 3.82%
- Amazon.com Inc 3.76%
Asset Allocation
| Weighting | Return Low | Return High | MSHPX % Rank | |
|---|---|---|---|---|
| Stocks | 98.19% | 0.00% | 123.52% | 65.88% |
| Cash | 1.73% | 0.00% | 173.52% | 30.94% |
| Other | 0.08% | -36.56% | 50.35% | 18.87% |
| Preferred Stocks | 0.00% | 0.00% | 8.45% | 30.67% |
| Convertible Bonds | 0.00% | 0.00% | 1.94% | 19.55% |
| Bonds | 0.00% | 0.00% | 102.71% | 21.60% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MSHPX % Rank | |
|---|---|---|---|---|
| Technology | 26.20% | 0.00% | 65.70% | 79.27% |
| Consumer Cyclical | 22.77% | 0.00% | 62.57% | 8.82% |
| Healthcare | 15.05% | 0.00% | 39.76% | 26.91% |
| Industrials | 12.12% | 0.00% | 30.65% | 8.18% |
| Consumer Defense | 7.03% | 0.00% | 25.50% | 11.27% |
| Financial Services | 6.78% | 0.00% | 43.06% | 73.18% |
| Basic Materials | 3.89% | 0.00% | 18.91% | 12.09% |
| Communication Services | 2.34% | 0.00% | 66.40% | 95.91% |
| Real Estate | 2.19% | 0.00% | 16.05% | 25.91% |
| Energy | 1.63% | 0.00% | 41.09% | 29.91% |
| Utilities | 0.00% | 0.00% | 16.07% | 40.91% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MSHPX % Rank | |
|---|---|---|---|---|
| US | 82.81% | 0.00% | 123.52% | 97.46% |
| Non US | 15.37% | 0.00% | 75.46% | 1.63% |
MSHPX - Expenses
Operational Fees
| MSHPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 11.18% | 0.01% | 28.71% | 0.27% |
| Management Fee | 0.65% | 0.00% | 1.50% | 59.14% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 1.02% | 40.93% |
Sales Fees
| MSHPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 8.50% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| MSHPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 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.
| MSHPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 70.00% | 0.00% | 316.74% | 78.83% |
MSHPX - Distributions
Dividend Yield Analysis
| MSHPX | Category Low | Category High | MSHPX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 27.58% | 3.18% |
Dividend Distribution Analysis
| MSHPX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | Annual | Annual |
Net Income Ratio Analysis
| MSHPX | Category Low | Category High | MSHPX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.07% | -6.13% | 3.48% | 21.52% |
Capital Gain Distribution Analysis
| MSHPX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 11, 2023 | $0.384 | CapitalGainShortTerm |
| Dec 11, 2023 | $0.906 | CapitalGainLongTerm |
| Dec 12, 2022 | $0.314 | OrdinaryDividend |
| Dec 13, 2021 | $2.625 | OrdinaryDividend |
| Dec 11, 2020 | $0.861 | OrdinaryDividend |
MSHPX - Fund Manager Analysis
Managers
Jason Yeung
Start Date
Tenure
Tenure Rank
Mar 31, 2020
2.17
2.2%
Jason Yeung is an investor for the Counterpoint Global team. He joined Morgan Stanley in 2002 and has been with financial industry since 1997. Jason joined the team in 2004 as an investor. Previously, he was a member of the U.S. Research Group, working closely with the Counterpoint Global team. Prior to joining the firm, Jason was a senior research analyst at Ramius Capital Group. Previously, he was an equity research associate at Deutsche Bank. Jason received a B.A., Phi Beta Kappa, in international relations from Johns Hopkins University and an M. Phil. in international relations from the University of Cambridge. He holds the Chartered Financial Analyst designation.
Manas Gautam
Start Date
Tenure
Tenure Rank
Mar 31, 2020
2.17
2.2%
Mr. Gautam has been associated with Stanley Investment Management Inc. in an investment management capacity since 2015 and has six years of investment experience. Prior to joining Stanley Investment Management, Mr. Gautam was an associate at Osmium Partners and served as a Board Observer at Spark Networks, Inc. In addition, Mr. Gautam was previously a research analyst at a family office and a research intern at Lane Five Capital Management.
Dennis Lynch
Start Date
Tenure
Tenure Rank
Mar 31, 2020
2.17
2.2%
Dennis is the Head of the Counterpoint Global team at Morgan Stanley Investment Management. He joined Morgan Stanley in 1998 and has been with financial industry since 1994. Prior to joining the firm, he worked as a sell-side analyst for J.P. Morgan Securities. Dennis received a B.A. in political science from Hamilton College and an M.B.A. with honors in finance from Columbia University.
Alexander Norton
Start Date
Tenure
Tenure Rank
Mar 31, 2020
2.17
2.2%
Alexander Norton is an investor for the Counterpoint Global team. He joined Morgan Stanley in 2000 and has been with financial industry since 1995. Prior to joining the firm, Alex was an associate in equity derivative sales and later an associate in equity research at Donaldson, Lufkin & Jenrette. Previously, he was a bond broker with Cantor Fitzgerald. Alex received a B.A. in history from the University of Pennsylvania and an M.B.A. in finance from Columbia Business School.
Armistead Nash
Start Date
Tenure
Tenure Rank
Mar 31, 2020
2.17
2.2%
Armistead Nash is an investor for the Counterpoint Global team. He joined Morgan Stanley in 2002 and has has been with financial industry since 2000. Armistead joined the team in 2004 as an investor. Previously, he was a member of the U.S. Research Group, working closely with the Counterpoint Global team. Prior to joining the firm, Armistead was an associate in investment product development at BlackRock Financial Management. Previously, he was a research analyst in high-yield research at KEA Capital. Armistead received a B.A. in history from the University of Virginia and an M.B.A. from the University of Virginia's Darden School of Business Administration.
David Cohen
Start Date
Tenure
Tenure Rank
Mar 31, 2020
2.17
2.2%
Dave Cohen is an investor for the Counterpoint Global team. He joined Morgan Stanley in 1993 and has has been with financial industry since 1988. Dave joined the team as an investor in 1999. Prior to joining the firm, Dave was a senior fund accountant at Alliance Capital. Previously, he was a fund accountant at Natwest and Wall Street Trust. Dave received a B.S. summa cum laude in management from Pace University.
Sandeep (Sam) Chainani
Start Date
Tenure
Tenure Rank
Mar 31, 2020
2.17
2.2%
Sam Chainani is an investor for the Counterpoint Global team. He joined Morgan Stanley in 1996 and has been with financial industry since 1996. Sam joined the team as an investor in 2000. Previously, he was a strategy specialist for our Inception and Discovery strategies. Sam received a B.S. in management with a concentration in finance from Binghamton University. He holds the Chartered Financial Analyst designation.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 54.45 | 8.25 | 3.08 |
