Overview

Historical Returns (%) as of Dec 31, 2023

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. Max Sales Charge: 1%.
 

Fund Facts as of Jan 31, 2024

Class C Inception 05/31/2023
Investment Objective Long-term capital appreciation
Total Net Assets $5.4M
Minimum Investment $1000
Expense Ratio (Gross)2 2.16%
Expense Ratio (Net)2 1.99%
CUSIP 13161X824

Top 10 Holdings (%)3,4 as of Dec 31, 2023

MercadoLibre Inc 7.75
Taiwan Semiconductor Manufacturing Co Ltd 6.83
Trent Ltd 5.34
NU Holdings Ltd/Cayman Islands 5.32
Globant SA 4.88
Localiza Rent a Car SA 4.57
SK Hynix Inc 4.16
Bajaj Finance Ltd 3.95
Aarti Industries Ltd 3.93
Avenue Supermarts Ltd 3.89
Total 50.61
 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. No portfolio information is currently available.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Performance

Historical Returns (%) as of Dec 31, 2023

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. Max Sales Charge: 1%.
 

Fund Facts

Class C Inception 05/31/2023
Expense Ratio (Gross)2 2.16%
Expense Ratio (Net)2 1.99%
Distribution Frequency
 

NAV History

Date NAV NAV Change
Feb 23, 2024 $11.26 -$0.15
Feb 22, 2024 $11.41 $0.17
Feb 21, 2024 $11.24 -$0.08
Feb 20, 2024 $11.32 $0.09
Feb 16, 2024 $11.23 -$0.06
Feb 15, 2024 $11.29 $0.06
Feb 14, 2024 $11.23 $0.16
Feb 13, 2024 $11.07 -$0.10
Feb 12, 2024 $11.17 -$0.01
Feb 09, 2024 $11.18 $0.07
 

Distribution History5

Ex-Date Distribution Reinvest NAV
 

Capital Gain History5

Ex-Date Short-Term Long-Term Reinvest NAV

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. No portfolio information is currently available.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Portfolio

Asset Mix (%)4 as of Dec 31, 2023

Portfolio Statistics as of Dec 31, 2023

Number of Holdings 37
 

GICS Sector Breakdown (%)4 as of Dec 31, 2023

Assets by Country (%)4 as of Dec 31, 2023

India 36.82
Brazil 24.70
Taiwan 12.25
Korea 7.74
United States 4.93
China 4.44
Mexico 3.91
Indonesia 2.06
Poland 1.04
Cash & Other Assets 2.11
Total 100.00
 

Geographic Mix (%)4 as of Dec 31, 2023

Asia/Pacific 63.31
Latin America/Caribbean 28.62
North America 4.93
Europe 1.04
Cash & Other Assets 2.11
Total 100.00
 

Fund Holdings (%)4,6 as of Dec 31, 2023

Holding % of Net Assets
MercadoLibre Inc 7.73%
Taiwan Semiconductor Manufacturing Co Ltd 6.81%
Trent Ltd 5.33%
NU Holdings Ltd/Cayman Islands 5.31%
Globant SA 4.87%
Localiza Rent a Car SA 4.56%
SK Hynix Inc 4.16%
Bajaj Finance Ltd 3.94%
Aarti Industries Ltd 3.93%
Avenue Supermarts Ltd 3.89%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. No portfolio information is currently available.

RISK CONSIDERATIONS 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. The value of equity securities is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. In emerging countries, these risks may be more significant. Investing primarily in responsible investments carries the risk that, under certain market conditions, the Fund may underperform funds that do not utilize a responsible investment strategy. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. The impact of the coronavirus on global markets could last for an extended period and could adversely affect the Fund’s performance. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Management

Vishal Gupta

Managing Director
Joined Morgan Stanley in 2014

Biography

Vishal is an investor on Morgan Stanley's Emerging Markets Equity team and a portfolio manager for the Emerging Markets Leaders strategy. He joined Morgan Stanley in 2014 and has 18 years of investment experience.

Prior to joining the firm, Vishal was a Principal at Sansar Capital Management and was an analyst at BRICs Securities.

Vishal received his bachelor's degree in mechanical engineering from Thapar University and an M.B.A. from the Indian Institute of Management, Ahmedabad.

Education
  • B.S. Thapar University, M.B.A. Indian Institute of Management, Ahmedabad

Experience
  • Managed Fund since 2023

 

Literature

Literature

Fact Sheet

Download Fact Sheet - Last updated: Dec 31, 2023

Full Prospectus

Download Full Prospectus - Last updated: Dec 21, 2022

Q3 Holdings

Download Q3 Holdings - Last updated: Sep 30, 2023

SAI

Download SAI - Last updated: May 1, 2023

Semi-Annual Report

Download Semi-Annual Report - Last updated: Jun 30, 2023

Summary Prospectus

Download Summary Prospectus - Last updated: May 31, 2023