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  • Thank you.
  • Selfishly I wish they had closed it sooner,'or' without the additional 60-days to buy in if you want but I have no idea what an adequate asset level is appropriate for a fund of this type.
  • Awesome fund. This site helped me find this a couple years ago.
  • Global Franchise is also a good one of theirs, if memory serves.

    Need to be careful on any loads or 12(b)-1 fees, though.
  • I own MSFBX no load/ntf at Fidelity and Schwab. E/R is 1.19% . 35% is invested in the Consumer Defensive category, and lost under 30% in 2008.
  • Baron Global Advantage - BGAFX - is run by a former co-manager of Morgan Stanley Global Opportunity and has had better returns than the Morgan Stanley fund and it is wide open.
  • I believe MGGPX has had a single manager, Kristian Heugh, from its inception in 2008. It's true that Alex Umansky had co-managerial duties at Morgan Stanley, but not with Heugh. OTOH, BGAFX is a winner and I own some.
  • msf
    edited October 31
    rforno said:

    Global Franchise is also a good one of theirs, if memory serves.

    Need to be careful on any loads or 12(b)-1 fees, though.

    I haven't found any way as a retail investor to invest in a MS share class that doesn't have a 12b-1 fee, unless I can pony up $5M (e.g. at Fidelity or at Vanguard).

    Even with the fees, the total cost of ownership is not out of line (M* rates it average). I'm just wondering if you've got any workaround on the 12b-1 fees. Or does one need to invest through one's employer's plan to get a break?

  • @msf: I don’t know how to avoid the fees, either. MS certainly complicates matters by offering multiple share classes and, even more confusing for me, giving their funds names that are so similar. Here are some of the names: Global Franchise, Counterpoint Global, Global Advantage, Global Concentrated, Global Permanence, Global Sustain, Global Core, etc.

    From my perspective, MS may be closing Heugh’s Global Opportunity fund in all of its disguises, not so much because the fund is huge, but because the same manager has so many other funds to manage. M* provides the additional fund responsibilities of a PM. After selecting “People,” click on the blue bar representing the manager(s)’ years at the fund in question. The list for Heugh is long.
  • msf
    edited November 1
    @BenWP, that's an excellent point about checking the total assets for which the manager has responsibility. In addition to other funds (to its credit, M* appears to list offshore as well as domestic funds), managers may also be responsible for private institutional/wealthy client accounts and/or pooled investment vehicles. You can find that information in the SAI.

    "5 [other funds] $4.8 billion; 21 [pooled investments] $21.8 billion; 243 [other accounts] $2.5 billion"
    (That's in addition to the $6B in MGGPX.)

    M* analyst reports sometimes give a little more information: "in 2006, the firm entrusted him to launch the Global Opportunities strategies and form his own team in Hong Kong. ... After adding two more funds to their coverage in 2020, the seven-person outfit now manages seven strategies. The supporting cast also lacks notable shared tenure ..."

    Something else (if one wants to get really deep into the details) is how much overlap there is in the different charges. For example, years ago, Fidelity closed Contra FCNTX (Danoff) while keeping open the much smaller New Insights (FINSX). While the funds focused on similar parts of the market, the size difference was so huge that New Insights was able to benefit from smaller companies that Contra couldn't touch, at least in any meaningful way.

    All that said, I agree it would make sense for MS to consider closing some of the sibling funds also.
  • MIOPX is a pure international fund managed by Kristin with strong exposure to emerging asian markets. Its my top international holding and a very consistent fund year to year. Take a look.
  • there is also MFAPX- managed by Heugh- Less North America more western Europe -
    Lower standard Deviation- higher sharpe -lower returns over 9 year period
  • Hey @newgirl . Yes thats also a great fund. A bit less volatile and also a bit less on the return side. This one doesnt have EM exposure. All devloped markets
  • Morgan Stanley funds currently managed by Kristian Heugh:

    Morgan Stanley Institutional Fund, Inc. International Advantage Portfolio Class A (since 12/28/2010)
    Morgan Stanley Europe Opportunity Fund Inc. Class L (since 4/14/2020)
    Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio Class A (since 5/31/2010)
    Morgan Stanley Institutional Fund, Inc. Global Opportunity Portfolio Class L (since 5/30/2008)
    Morgan Stanley Institutional Fund, Inc. Global Opportunity Portfolio Class I (since 5/30/2008)
    Morgan Stanley Institutional Fund, Inc. Asia Opportunity Portfolio Class I (since 12/29/2015)
    Morgan Stanley Inst Asia Opp IS (since 12/29/2015)
    Morgan Stanley Cntrpnt Global A (since 6/29/2018)
    Morgan Stanley Developing Opportunity IS (since 2/14/2020)
    Morgan Stanley Developing Opportunity C (since 2/14/2020)
    Morgan Stanley Europe Opportunity Fund Inc. Class A (since 4/14/2020)
    Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio Class I (since 5/31/2010)
    Morgan Stanley Institutional Opportunity H (since 6/30/2006)
    Morgan Stanley Institutional Fund, Inc. Opportunity Portfolio Class I (since 6/30/2006)
    Morgan Stanley Institutional Fund, Inc. International Advantage Portfolio Class C (since 12/28/2010)
    Morgan Stanley Institutional Fund, Inc. Asia Opportunity Portfolio Class A (since 12/29/2015)
    Morgan Stanley Inst Global Opp IR (since 5/30/2008)
    Morgan Stanley Developing Opportunity Portfolio Class A (since 2/14/2020)
    Morgan Stanley Developing Opportunity Portfolio Class I (since 2/14/2020)
    VALIC Company I International Growth (since 3/8/2018)
    Morgan Stanley Institutional Fund, Inc. Opportunity Portfolio Class IS (since 6/30/2006)
    Morgan Stanley Inst Intl Advtg IS (since 12/28/2010)
    Morgan Stanley Cntrpnt Global I (since 6/29/2018)
    Morgan Stanley Institutional Global Opportunity H (since 5/30/2008)
    Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio Class IS (since 5/31/2010)
    Morgan Stanley Cntrpnt Global IS (since 6/29/2018)
    Morgan Stanley Institutional International Advantage Portfolio Class H (since 12/28/2010)
    Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio Class L (since 5/31/2010)
    Morgan Stanley Institutional Fund, Inc. Opportunity Portfolio Class L (since 6/30/2006)
    Morgan Stanley Europe Opportunity Fund Inc. Class C (since 4/14/2020)
    Morgan Stanley Inst Asia Opp C (since 12/29/2015)
    Morgan Stanley Inst International Opp IR (since 5/31/2010)
    Morgan Stanley Europe Opportunity Fund Inc. Class I (since 4/14/2020)
    Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio Class C (since 5/31/2010)
    Morgan Stanley Institutional Fund, Inc. International Advantage Portfolio Class L (since 12/28/2010)
    Morgan Stanley Institutional Fund, Inc. Opportunity Portfolio Class A (since 6/30/2006)
    Morgan Stanley Institutional Fund, Inc. Global Opportunity Portfolio Class C (since 5/30/2008)
    Morgan Stanley Cntrpnt Global C (since 6/29/2018)
    Morgan Stanley Institutional Fund, Inc. International Advantage Portfolio Class I (since 12/28/2010)
    Morgan Stanley Institutional International Opportunity Fund Class H (since 3/31/2010)
    Morgan Stanley Institutional Fund, Inc. Global Opportunity Portfolio Class A (since 5/30/2008)
    Morgan Stanley Institutional Fund, Inc. Global Opportunity Portfolio Class IS (since 5/30/2008)
  • Is it normal for a fund to soft-close at that size? I would of thought a global large cap fund would have a bigger capacity?
  • Maybe MS wants to clip the wings of its successful manager. I assume he gets a cut of all the AUM. Just sayin' (maybe the dumbest idiom to come along in some years).
  • msf
    edited November 3
    Mark said:

    Morgan Stanley funds currently managed by Kristian Heugh:

    Actually, these are all the share classes that he manages. I've grouped the list by funds so that this is clearer. Also, the H share class is defunct, as is an entire fund (Opportunity Portfolio).

    Morgan Stanley Institutional Advantage Fund

    http://financials.morningstar.com/fund/purchase-info.html?t=MAPPX

    Morgan Stanley Institutional Fund, Inc. International Advantage Portfolio Class A (since 12/28/2010) MAPPX
    Morgan Stanley Institutional Fund, Inc. International Advantage Portfolio Class C (since 12/28/2010) MSPRX
    Morgan Stanley Institutional Fund, Inc. International Advantage Portfolio Class I (since 12/28/2010) MPAIX
    Morgan Stanley Inst Intl Advtg IS (since 12/28/2010) MADSX
    Morgan Stanley Institutional Fund, Inc. International Advantage Portfolio Class L (since 12/28/2010) MAPLX

    The following share class has not existed since 2013. It was reclassified into P shares which were simultaneously converted into A shares; see 2013 prospectus supplement.
    Morgan Stanley Institutional International Advantage Portfolio Class H (since 12/28/2010)

    Morgan Stanley Europe Opportunity Fund
    http://financials.morningstar.com/fund/purchase-info.html?t=EUGAX

    Morgan Stanley Europe Opportunity Fund Inc. Class A (since 4/14/2020) EUGAX
    Morgan Stanley Europe Opportunity Fund Inc. Class C (since 4/14/2020) MSEEX
    Morgan Stanley Europe Opportunity Fund Inc. Class I (since 4/14/2020) EUGDX
    Morgan Stanley Europe Opportunity Fund Inc. Class L (since 4/14/2020) EUGCX

    Morgan Stanley Institutional International Opportunity Portfolio
    http://financials.morningstar.com/fund/purchase-info.html?t=MIOPX

    Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio Class A (since 5/31/2010) MIOPX
    Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio Class C (since 5/31/2010) MSOCX
    Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio Class I (since 5/31/2010) MIOIX
    Morgan Stanley Inst International Opp IR (since 5/31/2010) MRNPX
    Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio Class IS (since 5/31/2010) MNOPX
    Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio Class L (since 5/31/2010) MIOLX

    The following share class has not existed since 2013. It was reclassified into P shares which were simultaneously converted into A shares; see 2013 prospectus supplement.
    Morgan Stanley Institutional International Opportunity Fund Class H (since 3/31/2010)

    Morgan Stanley Institutional Fund Global Opportunity Portfolio
    http://financials.morningstar.com/fund/purchase-info.html?t=MGGPX

    Morgan Stanley Institutional Fund, Inc. Global Opportunity Portfolio Class A (since 5/30/2008) MGGPX
    Morgan Stanley Institutional Fund, Inc. Global Opportunity Portfolio Class C (since 5/30/2008) MSOPX
    Morgan Stanley Institutional Fund, Inc. Global Opportunity Portfolio Class I (since 5/30/2008) MGGIX
    Morgan Stanley Inst Global Opp IR (since 5/30/2008) MGORX
    Morgan Stanley Institutional Fund, Inc. Global Opportunity Portfolio Class IS (since 5/30/2008) MGTSX
    Morgan Stanley Institutional Fund, Inc. Global Opportunity Portfolio Class L (since 5/30/2008) MGGLX

    The following share class has not existed since 2013. It was reclassified into P shares which were simultaneously converted into A shares; see 2013 prospectus supplement.
    Morgan Stanley Institutional Global Opportunity H (since 5/30/2008)

    Morgan Stanley Institutional Asia Opportunity Portfolio
    http://financials.morningstar.com/fund/purchase-info.html?t=MSAUX

    Morgan Stanley Institutional Fund, Inc. Asia Opportunity Portfolio Class A (since 12/29/2015) MSAUX
    Morgan Stanley Inst Asia Opp C (since 12/29/2015) MSAWX
    Morgan Stanley Institutional Fund, Inc. Asia Opportunity Portfolio Class I (since 12/29/2015) MSAQX
    Morgan Stanley Inst Asia Opp IS (since 12/29/2015) MSAYX

    Morgan Stanley Cntrpnt Global

    http://financials.morningstar.com/fund/purchase-info.html?t=GLCAX

    Morgan Stanley Cntrpnt Global A (since 6/29/2018) GLCAX
    Morgan Stanley Cntrpnt Global C (since 6/29/2018) GLCDX
    Morgan Stanley Cntrpnt Global I (since 6/29/2018) GLCIX
    Morgan Stanley Cntrpnt Global IS (since 6/29/2018) GLCSX

    Morgan Stanley Institutional Opportunity
    In 2015 this fund was reorganized into the Global Opportunity Fund (see 2015 prospectus, p. 18)

    Morgan Stanley Institutional Fund, Inc. Opportunity Portfolio Class A (since 6/30/2006)
    Morgan Stanley Institutional Fund, Inc. Opportunity Portfolio Class I (since 6/30/2006)
    Morgan Stanley Institutional Fund, Inc. Opportunity Portfolio Class IS (since 6/30/2006)
    Morgan Stanley Institutional Fund, Inc. Opportunity Portfolio Class L (since 6/30/2006)
    Morgan Stanley Institutional Opportunity H (since 6/30/2006)

    Morgan Stanley Developing Opportunity
    http://financials.morningstar.com/fund/purchase-info.html?t=MDOAX

    Morgan Stanley Developing Opportunity Portfolio Class A (since 2/14/2020) MDOAX
    Morgan Stanley Developing Opportunity C (since 2/14/2020) MDOBX
    Morgan Stanley Developing Opportunity Portfolio Class I (since 2/14/2020) MDOEX
    Morgan Stanley Developing Opportunity IS (since 2/14/2020) MDODX

    VALIC Company I International Growth (since 3/8/2018) VCINX
  • Good summary, all strong returns and slightly expensive.
    The Developing Opportunity Fund MDOAX looks appealing.
  • Hrm, Global Opportunity looks rather interesting!
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