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Trending ETFs

Name

As of 03/26/2024

Price

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

$4.29

$35.1 M

4.65%

$0.20

1.57%

Vitals

YTD Return

-2.1%

1 yr return

12.0%

3 Yr Avg Return

-1.7%

5 Yr Avg Return

-2.1%

Net Assets

$35.1 M

Holdings in Top 10

38.1%

52 WEEK LOW AND HIGH

$4.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.57%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 135.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

Price

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

$4.29

$35.1 M

4.65%

$0.20

1.57%

MRLAX - Profile

Distributions

  • YTD Total Return -2.1%
  • 3 Yr Annualized Total Return -1.7%
  • 5 Yr Annualized Total Return -2.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.03%
DIVIDENDS
  • Dividend Yield 4.7%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Global Real Estate Portfolio
  • Fund Family Name
    Morgan Stanley Funds
  • Inception Date
    Aug 30, 2006
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Angeline 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 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.
The Fund’s Adviser and/or Sub-Advisers may consider information about environmental, social and governance issues (also referred to as ESG) in its bottom-up stock selection process when making investment decisions. The Fund’s Adviser and/or Sub-Advisers may engage with company management regarding corporate governance practices as well as what the Fund’s Adviser and/or Sub-Advisers deem to be materially important environmental and/or social issues facing a company.
The Adviser and/or Sub-Advisers generally consider selling a portfolio holding based upon the relative valuation ranking of securities in the investment universe.
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MRLAX - Performance

Return Ranking - Trailing

Period MRLAX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.1% -9.2% 10.0% 12.30%
1 Yr 12.0% -14.9% 29.0% 18.82%
3 Yr -1.7%* -12.9% 21.2% 34.66%
5 Yr -2.1%* -9.0% 15.8% 86.86%
10 Yr 1.8%* -2.1% 10.7% 84.55%

* Annualized

Return Ranking - Calendar

Period MRLAX Return Category Return Low Category Return High Rank in Category (%)
2023 6.8% -16.8% 16.7% 70.27%
2022 -43.4% -43.9% 4.5% 97.78%
2021 -12.3% -13.9% 30.7% 97.16%
2020 -16.3% -20.7% 13.7% 92.05%
2019 7.4% 1.0% 26.5% 89.71%

Total Return Ranking - Trailing

Period MRLAX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.1% -9.2% 10.0% 12.30%
1 Yr 12.0% -14.9% 29.0% 18.82%
3 Yr -1.7%* -12.9% 21.2% 34.66%
5 Yr -2.1%* -9.0% 15.8% 86.86%
10 Yr 1.8%* -2.1% 10.7% 84.55%

* Annualized

Total Return Ranking - Calendar

Period MRLAX Return Category Return Low Category Return High Rank in Category (%)
2023 12.7% -14.6% 23.4% 11.89%
2022 -26.0% -39.5% 10.1% 52.78%
2021 24.0% 5.7% 101.8% 68.18%
2020 -14.3% -17.8% 14.7% 96.02%
2019 18.3% 6.7% 37.2% 95.43%

NAV & Total Return History


MRLAX - Holdings

Concentration Analysis

MRLAX Category Low Category High MRLAX % Rank
Net Assets 35.1 M 3.72 M 9.6 B 85.48%
Number of Holdings 76 5 695 45.50%
Net Assets in Top 10 15 M 1.79 M 6.34 B 83.60%
Weighting of Top 10 38.12% 19.3% 64.1% 56.91%

Top 10 Holdings

  1. Prologis Inc 6.35%
  2. Equinix Inc 5.46%
  3. Welltower Inc 4.96%
  4. Public Storage 3.43%
  5. Extra Space Storage Inc 3.38%
  6. Simon Property Group Inc 3.11%
  7. Digital Realty Trust Inc 3.04%
  8. Realty Income Corp 2.90%
  9. AvalonBay Communities Inc 2.79%
  10. American Homes 4 Rent 2.69%

Asset Allocation

Weighting Return Low Return High MRLAX % Rank
Stocks
98.97% 2.78% 126.54% 32.80%
Cash
1.06% 0.00% 10.38% 60.85%
Preferred Stocks
0.00% 0.00% 7.08% 72.49%
Other
0.00% -33.49% 102.40% 71.43%
Convertible Bonds
0.00% 0.00% 0.07% 70.74%
Bonds
0.00% 0.00% 25.03% 72.49%

Stock Sector Breakdown

Weighting Return Low Return High MRLAX % Rank
Real Estate
96.92% 72.53% 100.00% 57.07%
Technology
1.69% 0.00% 4.92% 11.96%
Consumer Cyclical
1.39% 0.00% 13.03% 17.93%
Utilities
0.00% 0.00% 0.96% 72.28%
Industrials
0.00% 0.00% 4.91% 76.09%
Healthcare
0.00% 0.00% 1.54% 74.46%
Financial Services
0.00% 0.00% 9.53% 75.00%
Energy
0.00% 0.00% 0.11% 71.20%
Communication Services
0.00% 0.00% 10.08% 85.33%
Consumer Defense
0.00% 0.00% 0.18% 71.20%
Basic Materials
0.00% 0.00% 1.63% 72.28%

Stock Geographic Breakdown

Weighting Return Low Return High MRLAX % Rank
US
63.64% 0.00% 99.38% 26.98%
Non US
35.33% 0.00% 98.93% 63.49%

MRLAX - Expenses

Operational Fees

MRLAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.57% 0.11% 33.54% 37.57%
Management Fee 0.65% 0.09% 1.50% 14.36%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.08% 0.01% 0.25% 48.15%

Sales Fees

MRLAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

MRLAX 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.

MRLAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 135.00% 1.00% 165.00% 83.61%

MRLAX - Distributions

Dividend Yield Analysis

MRLAX Category Low Category High MRLAX % Rank
Dividend Yield 4.65% 0.00% 5.31% 3.17%

Dividend Distribution Analysis

MRLAX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Monthly Annual

Net Income Ratio Analysis

MRLAX Category Low Category High MRLAX % Rank
Net Income Ratio 1.03% -0.23% 3.84% 71.89%

Capital Gain Distribution Analysis

MRLAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

MRLAX - 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 7.0 10.42