Also ANZAX min is $2,500

Most of these are pretty mundane: a basis point or two one way or the other (decrease or increase), but a few of the reductions are impressive, up to 6 basis points.
The very last fund on the list though is VASFX, where the ER jumped by 1/2%, from 0.78% to 1.28%!
A closer look reveals that the management fee dropped (from 0.25% to 0.22%) while other expenses rose (from 0.05% to 0.08%) - net zero. The big change comes from shorting expenses.
Dividend expenses on shorts dropped from 0.44% to 0.37%, while
Borrowing expenses on shorts rose from 0.00% to 0.56%
That suggests that the fund may have moved to shorting less liquid (harder to borrow), non-dividend paying stocks. Small caps?
I haven't looked at changes in the fund's short positions over time, so this is just a guess.

Among the fund families, Capital Group (American Funds) had/has most Russia exposure.
https://www.reuters.com/markets/europe/us-investment-manager-capital-group-was-among-top-exposed-russia-data-2022-03-02/
"NEW YORK, March 2 (Reuters) - Capital Group Companies Inc, one of the world's largest investment management companies, known for its American Funds mutual funds, had billions in exposure to Russian companies that have been either sanctioned or curbed by the United States over Russia's invasion of Ukraine, according to the latest data on the fund's website.....The Los Angeles-based firm, which has over $2.4 trillion in assets under management, according to its website, had $4.55 billion in exposure across its American Funds franchise to Gazprom , Sberbank (SBMX.MM), Alrosa (ALRS.MM) and Sovkomflot (FLOT.MM) as of Dec 31.....Separate data from research firm Morningstar, analyzed by Reuters, showed that Capital Group had at least $8.19 billion in exposure to Russia in its equity and fixed income funds according to latest available data. The data was on the top 100 open-end funds and ETFs worldwide....."

Hi Derf,
With about 22 holdings (mainly funds) I’ve more than enough. Only own 3 stocks: RIO, Y, WPM. The first 2 are pretty conservative companies with strong balance sheets. As far as I know, so is the third. So I sleep well and pay little heed to them.
On the contrary, both ARKK and DKNG resemble “loose & loaded cannons” ready to fire in any direction at any moment. I suspect a lot of $$ will be made in them - but lack the patience to own either. They’d also be fun to trade in and out of - grabbing off quick 5-10% gains every few weeks. Of course, there’s no guarantee. I’ll leave it to the younger ones here to mess with them. Thrills and chills …
Not much dipping here. In fact, I’ve placed a sign over the portfolio tracker keyboard reading “Do Not Touch“ - just to make sure I don’t mess with anything. :)
Thanks for the interesting thread!

May be by March 15 these fund prices will bottom. The funds' prices are down 7+% today. They do not seem to make distributions in March.

https://www.sec.gov/Archives/edgar/data/836487/000110465922029777/a22-8099_3497.htm
497 1 a22-8099_3497.htm 497
Prospectus Supplement
March 3, 2022
Morgan Stanley Institutional Fund, Inc.
Supplement dated March 3, 2022 to the Morgan Stanley Institutional Fund, Inc. Prospectus dated April 30, 2021
Growth Portfolio
Inception Portfolio
(the "Funds")
Effective March 15, 2022, the Funds will recommence offering Class I, Class A, Class C and Class IS shares. Accordingly, effective March 15, 2022, the Funds' Prospectus is revised as follows:
The second paragraph of the section of the Prospectus entitled "Fund Summary—Inception Portfolio—Purchase and Sale of Fund Shares" is hereby deleted.
The second paragraph of the section of the Prospectus entitled "Shareholder Information—Share Class Arrangements" is hereby deleted.
Please retain this supplement for future reference.
Prospectus Supplement
March 3, 2022
Morgan Stanley Institutional Fund, Inc.
Supplement dated March 3, 2022 to the Morgan Stanley Institutional Fund, Inc. Prospectus dated April 30, 2021
Growth Portfolio (Class IR) (the "Fund")
Effective March 15, 2022, the Fund will recommence offering Class IR shares.
Please retain this supplement for future reference.
Statement of Additional Information Supplement
March 3, 2022
Morgan Stanley Institutional Fund, Inc.
Supplement dated March 3, 2022 to the Morgan Stanley Institutional Fund, Inc. (the "Company") Statement of Additional Information dated April 30, 2021
Growth Portfolio
Inception Portfolio
(the "Funds")
Effective March 15, 2022, the Funds will recommence offering Class I, Class A, Class C and Class IS and the Growth Portfolio will recommence offering Class IR shares. Accordingly, effective March 15, 2022, the Fund' Statement of Additional Information is revised as follows:
The third footnote following the table on the cover page of the Statement of Additional Information listing the Company's current funds is hereby deleted.
Please retain this supplement for future reference.
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
https://www.sec.gov/Archives/edgar/data/741375/000110465922029774/a22-8099_1497.htm
497 1 a22-8099_1497.htm 497
Summary Prospectus and
Prospectus Supplement
March 3, 2022
Morgan Stanley Institutional Fund Trust
Supplement dated March 3, 2022 to the Morgan Stanley Institutional Fund Trust
Summary Prospectus and Prospectus dated January 28, 2022
Discovery Portfolio (the "Fund")
Effective March 15, 2022, the Fund will recommence offering Class I, Class A, Class C and Class IS shares.
Please retain this supplement for future reference.
Statement of Additional Information Supplement
March 3, 2022
Morgan Stanley Institutional Fund Trust
Supplement dated March 3, 2022 to the Morgan Stanley Institutional Fund Trust
Statement of Additional Information dated January 28, 2022
Discovery Portfolio (the "Fund")
Effective March 15, 2022, the Fund will recommence offering Class I, Class A, Class C and Class IS shares.
Please retain this supplement for future reference.

Germany is most at risk, as they have closed about 50% of their nuclear plants recently and know import well over 50% of their energy from Russia

A form of timing the market or having to much at risk ?

I would call it reallocation of one's portfolio instead. Powell's testimony early this week confirmed a 0.25% rate hike in mid-March. With over 6% inflation rate, money market funds stand to loss 6% in your buying power. In the near term, money market is okay for liquidity purpose. However, there are better vehicles for inflation protection as laid out by our MFO contributor, Devesh Shah's article below. They include REITs. short term-duration TIPS and iBond.
https://mutualfundobserver.com/2022/02/thoughts-on-inflation-protection/#more-16373
Personally, I moved the bulk of my core bond funds in fall last year to STIP, bank loan, short term investment grade bonds and stable value.

Thanks for the thoughts @Derf
I was mostly concerned with the bond fund outflows. Actually, they slowed a bit in the last reporting week compared to early in the year. One can only speculate; but ISTM all the talk by Fed officials about hiking the overnight lending rate at the next meeting has had a lot to do with the flight out of bond funds. Less demand = higher rates (short end) = falling prices / NAVs = potentially more investor flight. DODIX fell .88% yesterday - a loss one might expect over a period of several months and very rare for a single day for that fund.
In contrast, longer dated bonds, like the U.S. 10-year Treasury, have not experienced the same degree of rate increase, leading to a flattening of the yield curve. Just this week the 10-year Treasury fell briefly below 1.70% - actually about where it stood a year earlier.
Is it market timing? I don’t know. But when money gushes into money market funds yielding next to nothing - regardless of the source - I think it’s at least intriguing - perhaps a sign of investor fear as to what the “next shoe to drop” might be - whether at the Federal Reserve, in the equity markets or over the war in Ukraine.
Old Thread - Fed Open Mouth Committee / The pronouncements became so frequent from so many different representatives / spokespersons that I gave up adding them. But they were mostly projecting a .25 or .50% hike in March. Some predicted 5 or more interest rate hikes beyond that this year. More recently, Chairman Powell has signified that there will be a .25% rate hike later this month.

For the week ending on 3/2/22, bearish remained the top sentiment (41.4%; high) & neutral remained the bottom sentiment (28.2%; below average); bullish remained the middle sentiment (30.4%; below average). So, the overall sentiment improved from the very bearish reading last week. The Survey period of Thursday - Wednesday included the start of the war between Russia & Ukraine; the human tragedy & toll, & economic costs (global) will grow longer the lopsided battle continues. Other investor worries included high inflation, monetary tightening by the Fed (triple-actions; the Fed Chair Powell's testimony before the Congressional committees on Wednesday & Thursday this week) & supply-chain disruptions that may become worse. https://ybbpersonalfinance.proboards.com/post/528/thread

CEFs are the oldest form of funds around. But they are complex. So, followed mutual funds/OEFs, ETFs, interval-funds, etc. CEFs develop premiums/discounts and many are leveraged (so better know what you are doing). A newer development is CEFs with term-structures (PDO, TBLD, PAXS, etc), so there has been more than usual news on CEFs. Here is a good intro to them,
https://www.icifactbook.org/21_fb_ch5.html

The two best jobs that I had in my life were four years with the Coast Guard and twenty-something years supporting San Francisco's public safety radio systems.

Were you still working at 91 like Buffett, OJ?
And, nice to see Queen Elizabeth II at 95 is back on the job.
I’d agree with the sentiment that public service work (of assorted types) is highly rewarding - even if the pay less than in the private sector. Having read / participated on the board a long time, I do think managing money would have been both enjoyable and profitable. However, I’d have lost people a fortune in the early years.
PS- Thanks @bee for posting. There was a bit of coverage in the WSJ, but the Russian War has kind of diminished / overshadowed the normal attention Buffet’s letters receive.

Looks like he was early selling energy. Wonder when that was? It’s just now getting “exciting”. Tack on another 2.5% rise today beyond what the chart displays.
Personally, I wouldn’t be loading up on Amazon and the mega-caps now. But that’s why he’s paid big bucks to manage PRWCX and has won all kinds of awards, plus coverage in Barron’s and the WSJ and is also widely acclaimed on this forum. I do wonder to what extent his hand is forced, as the size of PRWCX would really impact the price of smaller companies when bought or sold in any appreciable amount.
Chart XLE

There are 529 rules on who get the 1099-Q.
In any event, keep records on tracing of the money. So, in this case, your check to parents and parent's check for college tuition.

Just a flight to safety. Real-time 10-yr yield is in this chart below (rate scale 10x in the main panel). The bottom panel for 10Y-2Y spread (EOD) is with regular scale.
https://stockcharts.com/h-sc/ui?s=$TNX&p=D&b=5&g=0&id=p95118878123

In stress time like now many investors turn to US dollar and treasury.
Emerging market bonds, EMB and LEMB (local currency) are down 1.5% while 10 Y treasury price is up. Today treasury yield are falling…

I have NYS 529 accounts for my grand kids. Their parents paid their college tuitions in 2021, and I reimbursed the parent's bank account. Now I received 1099-Q's (reported to IRS) because I didn't have the checks made out to the beneficiaries (grand kids). If the feds come knocking at my door, how do I prove that the 529 withdrawal was a qualified education expense? It looks like I would have gotten the 1099-Q even if the checks went directly to the colleges. How do the rest of you handle 529 transactions?

It’s at 1.72% 1.70% currently, which is lower than it was a year ago Now, how do you reconcile that rate with (1) 7%+ inflation and (2) Fed members’ statements to the effect they’ll be hiking the overnight lending rate by .25 to .50% at their next meeting later this month? On the second score, I do understand that those Fed projections were made before things in the Ukraine heated up. But I’m befuddled by the contrast between the documented year-over-year rate of inflation and the meager pittance investors seem willing to accept from a bond over the next 10 years.
ISTM inflation would “eat you alive” over 10 years should you own that bond - even if we lower the inflation expectation to 3-5% yearly, which is closer to what most observers are forecasting. Yes, it could be a gamble, with folks expecting to unload their bonds in the near future after some capital appreciation. But that 1.70 rate just doesn’t make sense to me any way you cut it.
To “pun it” - If saving to buy a new pickup truck (now selling for $70,000 +) you’d surely be “spinning your wheels” while holding that 1.70% bond. :)
Chart: https://www.cnbc.com/quotes/US10Y
PS - Had to edit post. Bond fell below 1.70% while I was writing.