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Global Real Estate Portfolio
MSRDX (Mutual Fund)
Global Real Estate Portfolio
Name
As of 10/31/2024Price
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
11.3%
1 yr return
30.6%
3 Yr Avg Return
-2.1%
5 Yr Avg Return
-1.0%
Net Assets
$41.3 M
Holdings in Top 10
40.9%
52 WEEK LOW AND HIGH
$4.6
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 5.73%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 135.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/31/2024Price
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
MSRDX - Profile
Distributions
- YTD Total Return 11.3%
- 3 Yr Annualized Total Return -2.1%
- 5 Yr Annualized Total Return -1.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.03%
- Dividend Yield 0.9%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameGlobal Real Estate Portfolio
-
Fund Family NameMorgan Stanley Funds
-
Inception DateMay 01, 2015
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerAngeline Ho
Fund Description
Under normal circumstances, at least 80% of the Fund’s assets (plus any borrowings for investment purposes) will be invested in equity securities of companies in the real estate industry, including real estate operating companies (“REOCs”), real estate investment trusts (“REITs”) and similar entities established outside the United States (“foreign real estate companies”). This policy may be changed without shareholder approval; however, you would be notified upon 60 days’ notice in writing of any changes.
The Fund will invest primarily in companies located in the developed countries of North America, Europe and Asia, but may also invest in emerging markets.
The Adviser and/or the Fund’s “Sub-Advisers,” Morgan Stanley Investment Management Limited (“MSIM Limited”) and Morgan Stanley Investment Management Company (“MSIM Company”), actively manage the Fund using a combination of bottom-up and top-down methodologies. The Adviser’s and/or Sub-Advisers’ proprietary models drive the bottom-up value-driven approach for stock selection, which is utilized to identify those companies that the Adviser and/or Sub-Advisers determine represent the best value relative to their underlying assets and earnings. Analysts will assess real estate specific factors, broader equity factors, as well as environmental, social and governance (“ESG”) factors in their fundamental analysis in order calculate appropriate valuation metrics. Top-down considerations are also incorporated into the portfolio construction process, and the investment adviser seeks to achieve exposure across regions, countries and/or sectors and integrate forecasted fundamental inflections, macroeconomic considerations, geopolitical and country risk assessments, among other factors.
When deemed by the Adviser and/or Sub-Advisers to be relevant to its evaluation of a company’s financial performance and when applicable information is available, the Adviser and/or Sub-Advisers consider financially material ESG issues 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.
The Adviser and/or Sub-Advisers generally consider selling a portfolio holding based upon the relative valuation ranking of securities in the investment universe.
MSRDX - Performance
Return Ranking - Trailing
| Period | MSRDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 11.3% | -6.8% | 23.7% | 12.64% |
| 1 Yr | 30.6% | -8.9% | 43.3% | 26.37% |
| 3 Yr | -2.1%* | -16.4% | 18.2% | 35.43% |
| 5 Yr | -1.0%* | -10.1% | 16.2% | 84.21% |
| 10 Yr | N/A* | -2.3% | 11.1% | 98.00% |
* Annualized
Return Ranking - Calendar
| Period | MSRDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 7.0% | -16.8% | 16.7% | 67.78% |
| 2022 | -43.9% | -43.9% | 4.5% | 100.00% |
| 2021 | -13.9% | -13.9% | 30.7% | 100.00% |
| 2020 | -16.2% | -20.7% | 13.7% | 90.64% |
| 2019 | 7.2% | 1.0% | 26.5% | 90.00% |
Total Return Ranking - Trailing
| Period | MSRDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 11.3% | -6.8% | 23.7% | 12.64% |
| 1 Yr | 30.6% | -8.9% | 43.3% | 26.37% |
| 3 Yr | -2.1%* | -16.4% | 18.2% | 35.43% |
| 5 Yr | -1.0%* | -10.1% | 16.2% | 84.21% |
| 10 Yr | N/A* | -2.3% | 11.1% | 97.33% |
* Annualized
Total Return Ranking - Calendar
| Period | MSRDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 11.6% | -14.6% | 23.4% | 31.67% |
| 2022 | -27.0% | -39.5% | 10.1% | 77.71% |
| 2021 | 22.5% | 5.7% | 101.8% | 74.27% |
| 2020 | -15.3% | -17.8% | 14.7% | 99.42% |
| 2019 | 17.0% | 4.3% | 37.2% | 97.06% |
NAV & Total Return History
MSRDX - Holdings
Concentration Analysis
| MSRDX | Category Low | Category High | MSRDX % Rank | |
|---|---|---|---|---|
| Net Assets | 41.3 M | 4.27 M | 7.48 B | 89.94% |
| Number of Holdings | 79 | 5 | 691 | 43.96% |
| Net Assets in Top 10 | 15.4 M | 1.9 M | 4.55 B | 89.01% |
| Weighting of Top 10 | 40.88% | 20.1% | 64.5% | 43.65% |
Top 10 Holdings
- Welltower Inc 6.62%
- Equinix Inc 5.45%
- AvalonBay Communities Inc 4.69%
- Prologis Inc 4.48%
- Digital Realty Trust Inc 3.93%
- Goodman Group 3.59%
- Public Storage 3.47%
- Simon Property Group Inc 3.37%
- Extra Space Storage Inc 2.72%
- American Homes 4 Rent 2.58%
Asset Allocation
| Weighting | Return Low | Return High | MSRDX % Rank | |
|---|---|---|---|---|
| Stocks | 99.15% | 3.01% | 126.54% | 46.15% |
| Cash | 0.85% | 0.00% | 11.23% | 65.38% |
| Preferred Stocks | 0.00% | 0.00% | 7.41% | 68.13% |
| Other | 0.00% | -33.49% | 99.87% | 75.82% |
| Convertible Bonds | 0.00% | 0.00% | 0.07% | 64.09% |
| Bonds | 0.00% | 0.00% | 23.39% | 67.03% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MSRDX % Rank | |
|---|---|---|---|---|
| Real Estate | 96.92% | 72.53% | 100.00% | 57.63% |
| Technology | 1.69% | 0.00% | 4.92% | 14.69% |
| Consumer Cyclical | 1.39% | 0.00% | 13.03% | 20.90% |
| Utilities | 0.00% | 0.00% | 0.96% | 67.23% |
| Industrials | 0.00% | 0.00% | 4.91% | 72.88% |
| Healthcare | 0.00% | 0.00% | 1.54% | 68.93% |
| Financial Services | 0.00% | 0.00% | 9.53% | 73.45% |
| Energy | 0.00% | 0.00% | 0.11% | 66.10% |
| Communication Services | 0.00% | 0.00% | 10.08% | 83.05% |
| Consumer Defense | 0.00% | 0.00% | 0.18% | 67.80% |
| Basic Materials | 0.00% | 0.00% | 1.63% | 67.23% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MSRDX % Rank | |
|---|---|---|---|---|
| US | 64.32% | 0.00% | 102.76% | 32.97% |
| Non US | 34.83% | 0.00% | 98.87% | 59.89% |
MSRDX - Expenses
Operational Fees
| MSRDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 5.73% | 0.10% | 36.96% | 3.30% |
| Management Fee | 0.65% | 0.09% | 1.50% | 16.57% |
| 12b-1 Fee | 1.00% | 0.00% | 1.00% | 93.83% |
| Administrative Fee | 0.08% | 0.01% | 0.25% | 55.56% |
Sales Fees
| MSRDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | 1.00% | 1.00% | 4.00% | 72.00% |
Trading Fees
| MSRDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.25% | 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.
| MSRDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 135.00% | 1.00% | 165.00% | 85.23% |
MSRDX - Distributions
Dividend Yield Analysis
| MSRDX | Category Low | Category High | MSRDX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.85% | 0.00% | 5.52% | 99.45% |
Dividend Distribution Analysis
| MSRDX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | SemiAnnual | Monthly | Quarterly |
Net Income Ratio Analysis
| MSRDX | Category Low | Category High | MSRDX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.03% | -0.23% | 3.84% | 98.31% |
Capital Gain Distribution Analysis
| MSRDX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Oct 24, 2024 | $0.039 | OrdinaryDividend |
| Dec 15, 2023 | $0.140 | OrdinaryDividend |
| Dec 15, 2023 | $0.035 | CapitalGainLongTerm |
| Dec 16, 2022 | $0.849 | CapitalGainShortTerm |
| Dec 16, 2022 | $0.322 | CapitalGainLongTerm |
| Dec 17, 2021 | $1.485 | OrdinaryDividend |
| Dec 17, 2021 | $0.532 | CapitalGainShortTerm |
| Dec 17, 2021 | $0.797 | CapitalGainLongTerm |
| Dec 16, 2020 | $0.091 | OrdinaryDividend |
| Dec 16, 2019 | $0.409 | OrdinaryDividend |
| Dec 16, 2019 | $0.069 | CapitalGainShortTerm |
| Dec 16, 2019 | $0.378 | CapitalGainLongTerm |
| Dec 17, 2018 | $0.013 | CapitalGainShortTerm |
| Dec 17, 2018 | $0.536 | CapitalGainLongTerm |
| Dec 17, 2018 | $0.229 | OrdinaryDividend |
| Jul 06, 2018 | $0.024 | CapitalGainShortTerm |
| Jul 06, 2018 | $0.020 | CapitalGainLongTerm |
| Jul 06, 2018 | $0.165 | OrdinaryDividend |
| Dec 18, 2017 | $0.018 | CapitalGainShortTerm |
| Dec 18, 2017 | $0.510 | CapitalGainLongTerm |
| Dec 18, 2017 | $0.029 | OrdinaryDividend |
| Dec 16, 2016 | $0.310 | OrdinaryDividend |
| Dec 16, 2015 | $0.142 | OrdinaryDividend |
MSRDX - Fund Manager Analysis
Managers
Angeline Ho
Start Date
Tenure
Tenure Rank
Aug 30, 2006
15.76
15.8%
Angeline joined Morgan Stanley in 1997 and has been with financial industry since 1992. She is a Portfolio Manager focusing on Asian Real Estate markets and securities. Prior to joining the Firm, she was a research manager at SG Securities and a senior research analyst at Schroder Securities. Previously, she was a research analyst at BZW Securities and an appraiser and a consultant at Debenham Tewson International. Angeline received a BSc with honors from the National University of Singapore in Estate Management and a MBA from the Nanyang Technological University in Accountancy.
Desmond Foong
Start Date
Tenure
Tenure Rank
Apr 30, 2015
7.09
7.1%
Desmond Foong is a Portfolio Manager focusing on Asian real estate securities investing. He joined Morgan Stanley in 2011 and has been with financial industry since 2004. Prior to joining the firm, Desmond was an investment analyst at the Government of Singapore Investment Corporation (GIC), primarily focusing on the Asian real estate and financial sectors. He received his Bachelor of Arts in economics from the University of Cambridge, and a master's degree in international and development economics from Yale University. He holds the Chartered Financial Analyst designation.
Laurel Durkay
Start Date
Tenure
Tenure Rank
Dec 07, 2020
1.48
1.5%
Laurel Durkay, Chartered Financial Analyst Managing Director Laurel Durkay joined Morgan Stanley in 2020 and has 20 years of investment experience. She is the Head of Global Listed Real Assets within Morgan Stanley Investment Management (MSIM) and the lead portfolio manager for US and Global listed real estate strategies. Prior to joining MSIM, Ms. Durkay was a Senior Vice President and Global Portfolio Manager for Listed Real Estate at Cohen & Steers Capital Management for 14 years. Previously, Ms. Durkay held several positions at Citigroup, including working on asset allocation and manag
Simon Robson Brown
Start Date
Tenure
Tenure Rank
Feb 09, 2022
0.3
0.3%
Simon Robson Brown is a Portfolio Manager and, as a member of the firm's Listed Real Assets European research team, is responsible for the evaluation of listed real estate companies located throughout the United Kingdom and Continental Europe. In addition, Simon is responsible for the oversight of the London listed team. Simon joined the predecessor firm of CBRE Investment Management's Listed Real Assets business in 2006. Prior to that, Simon worked in various research and analyst positions at UBS and Citigroup. Simon has over 20 years of real estate investment experience. Credentials - European Public Real Estate Association (EPRA) - Member of Institute of Chartered Accountants in England & Wales Education - B.A. Hons, Saint John’s College, Cambridge, 1995 (first)
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 20.42 | 7.11 | 10.42 |
