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Name

As of 11/21/2024

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

Inception Portfolio

MSCOX | Fund

$9.62

$315 M

0.00%

2.22%

Vitals

YTD Return

27.6%

1 yr return

59.5%

3 Yr Avg Return

-11.5%

5 Yr Avg Return

13.4%

Net Assets

$315 M

Holdings in Top 10

56.2%

52 WEEK LOW AND HIGH

$9.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.22%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 111.00%

Redemption Fee 2.00%

Min Investment

Standard (Taxable)

$1,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/21/2024

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

Inception Portfolio

MSCOX | Fund

$9.62

$315 M

0.00%

2.22%

MSCOX - Profile

Distributions

  • YTD Total Return 27.6%
  • 3 Yr Annualized Total Return -11.5%
  • 5 Yr Annualized Total Return 13.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -1.55%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Inception Portfolio
  • Fund Family Name
    Morgan Stanley Funds
  • Inception Date
    Jun 01, 2017
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Dennis Lynch

Fund Description

Under normal market conditions, the Adviser seeks to achieve the Fund’s investment objective by investing primarily in established and emerging companies with capitalizations within the range of companies included in the Russell 2000® Growth Index. As of December 31, 2023, these market capitalizations ranged between $19.7 million and $15.8 billion.
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 unique companies it believes have 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 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 other types of equity securities. The Fund may also invest in privately placed and restricted securities.
The Adviser may invest up to 25% of the Fund’s total assets in foreign securities, including emerging market securities and securities classified as American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”), American Depositary Shares (“ADSs”) or Global Depositary Shares (“GDSs”), foreign U.S. dollar-denominated securities that are traded on a U.S. exchange or local shares of non-U.S. issuers.
Read More

MSCOX - Performance

Return Ranking - Trailing

Period MSCOX Return Category Return Low Category Return High Rank in Category (%)
YTD 27.6% -0.1% 94.2% 21.72%
1 Yr 59.5% 6.1% 92.9% 3.10%
3 Yr -11.5%* -18.7% 59.3% 98.70%
5 Yr 13.4%* -3.5% 47.4% 14.92%
10 Yr N/A* 1.6% 24.9% 67.05%

* Annualized

Return Ranking - Calendar

Period MSCOX Return Category Return Low Category Return High Rank in Category (%)
2023 52.9% -20.5% 54.6% 0.73%
2022 -60.0% -82.1% 32.2% 99.81%
2021 -31.0% -90.6% 300.1% 96.45%
2020 116.6% -63.0% 127.9% 0.78%
2019 9.1% -7.7% 42.9% 93.43%

Total Return Ranking - Trailing

Period MSCOX Return Category Return Low Category Return High Rank in Category (%)
YTD 27.6% -0.1% 94.2% 21.72%
1 Yr 59.5% 6.1% 92.9% 3.10%
3 Yr -11.5%* -18.7% 59.3% 98.70%
5 Yr 13.4%* -3.5% 47.4% 14.92%
10 Yr N/A* 1.6% 24.9% 65.46%

* Annualized

Total Return Ranking - Calendar

Period MSCOX Return Category Return Low Category Return High Rank in Category (%)
2023 52.9% -19.0% 136.8% 0.92%
2022 -59.9% -59.9% 44.3% 100.00%
2021 -4.4% -22.7% 411.9% 93.46%
2020 148.0% 1.5% 150.8% 0.97%
2019 35.5% 5.5% 55.3% 22.51%

NAV & Total Return History

MSCOX - Holdings

Concentration Analysis

MSCOX Category Low Category High MSCOX % Rank
Net Assets 315 M 209 K 34.3 B 68.43%
Number of Holdings 60 7 1226 80.84%
Net Assets in Top 10 184 M 53.8 K 3.24 B 47.08%
Weighting of Top 10 56.15% 7.5% 100.0% 4.39%

Top 10 Holdings

  1. Cloudflare Inc 10.03%
  2. Global-e Online Ltd 7.35%
  3. Chewy Inc 6.67%
  4. agilon health Inc 6.00%
  5. BILL Holdings Inc 5.27%
  6. Appian Corp 4.90%
  7. Affirm Holdings Inc 4.83%
  8. Peloton Interactive Inc 4.15%
  9. ZoomInfo Technologies Inc 3.65%
  10. Wayfair Inc 3.30%

Asset Allocation

Weighting Return Low Return High MSCOX % Rank
Stocks 		96.75% 85.75% 107.62% 73.18%
Preferred Stocks 		2.38% 0.00% 4.63% 2.92%
Cash 		2.31% 0.00% 28.78% 45.80%
Other 		0.49% -0.26% 6.70% 19.16%
Convertible Bonds 		0.00% 0.00% 1.57% 71.17%
Bonds 		0.00% 0.00% 2.40% 71.53%

Stock Sector Breakdown

Weighting Return Low Return High MSCOX % Rank
Technology 		34.24% 2.91% 75.51% 9.12%
Healthcare 		28.63% 0.00% 47.90% 10.95%
Consumer Cyclical 		16.38% 0.00% 24.04% 14.60%
Financial Services 		7.47% 0.00% 42.95% 39.05%
Communication Services 		5.32% 0.00% 15.31% 8.76%
Real Estate 		3.03% 0.00% 15.31% 35.95%
Industrials 		2.12% 0.00% 36.64% 98.72%
Basic Materials 		1.71% 0.00% 9.24% 65.69%
Utilities 		0.57% 0.00% 5.57% 20.99%
Consumer Defense 		0.52% 0.00% 13.56% 94.53%
Energy 		0.00% 0.00% 55.49% 93.43%

Stock Geographic Breakdown

Weighting Return Low Return High MSCOX % Rank
US 		95.40% 17.30% 107.62% 75.00%
Non US 		1.34% 0.00% 77.12% 19.34%

MSCOX - Expenses

Operational Fees

MSCOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.22% 0.05% 23.20% 6.03%
Management Fee 0.92% 0.05% 1.62% 81.54%
12b-1 Fee 1.00% 0.00% 1.00% 96.67%
Administrative Fee N/A 0.01% 0.40% 46.26%

Sales Fees

MSCOX 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% 5.00% 76.27%

Trading Fees

MSCOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 1.00% 2.00% 39.58%

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.

MSCOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 111.00% 3.00% 264.00% 84.79%

MSCOX - Distributions

Dividend Yield Analysis

MSCOX Category Low Category High MSCOX % Rank
Dividend Yield 0.00% 0.00% 6.91% 77.37%

Dividend Distribution Analysis

MSCOX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual SemiAnnual Annual

Net Income Ratio Analysis

MSCOX Category Low Category High MSCOX % Rank
Net Income Ratio -1.55% -2.47% 1.10% 92.44%

Capital Gain Distribution Analysis

MSCOX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Monthly Annually

Distributions History

View More +

MSCOX - Fund Manager Analysis

Managers

Dennis Lynch

Start Date

Tenure

Tenure Rank

Jan 31, 1999

23.35

23.4%

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.

David Cohen

Start Date

Tenure

Tenure Rank

Jan 31, 2002

20.34

20.3%

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

Jun 30, 2004

17.93

17.9%

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.

Alexander Norton

Start Date

Tenure

Tenure Rank

Jul 29, 2005

16.85

16.9%

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.

Jason Yeung

Start Date

Tenure

Tenure Rank

Sep 30, 2007

14.68

14.7%

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.

Armistead Nash

Start Date

Tenure

Tenure Rank

Sep 30, 2008

13.67

13.7%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.44 9.12 5.25

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