According to a press release, the fund is designed to provide exposure to the growing universe of publicly traded infrastructure securities. The investment team’s investment approach strives to add excess return while targeting a beta of approximately 1 to the S&P Global Infrastructure index.
The fund consists of approximately 800 stocks and provides broad exposure to the infrastructure sectors as defined by the S&P Global Industry Classification Standard (GICS), as well as a range of communication stocks and other companies that are likely to benefit from infrastructure spending.
“Gaining exposure to publicly traded infrastructure companies via the Morgan Stanley Global Infrastructure Fund allows investors access to this attractive growth story with lower capital requirements, greater diversification potential, daily liquidity and transparency,” said Randy Takian, managing director and head of Morgan Stanley Retail & Intermediary Distribution in the U.S., in the release.
MSIM said it intends to make a similar strategy available to international investors later in 2009.
A prospectus can be downloaded from www.morganstanley.com.