Morgan Stanley Asia-Pacific Fund has announced that the Board has approved changing the Fund’s investment strategy such that the Fund will continue to seek long-term capital appreciation through Investments primarily in equity securities of Asian-Pacific issuers and in sovereign debt, but will no longer invest in equity securities of issuers located in Japan.
The repositioning of the Fund’s portfolio in connection with this change in the Fund’s investment strategy could result in the realization of taxable capital gains. Also in connection with this change, the Board approved changing the Fund’s benchmark from the MSCI All Country Asia Pacific Index to the MSCI All Country Asia Pacific ex Japan Index.
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Following the implementation of the New Investment Strategy, the portfolio management team will change as Arthur Pollock will no longer be involved in the management of the Fund and Munib Madni, Samuel Rhee and May Yu will continue to be responsible for the day-to-day portfolio management of the Fund.
In connection with the New Investment Strategy, the Fund may also invest in futures contracts. A futures contract is a standardized, exchange-traded agreement to buy or sell a specific quantity of an underlying instrument at a specific price at a specific future time.
A decision to use futures contracts involves the exercise of skill and judgment and even a well-conceived futures transaction may be unsuccessful because of market behavior or unexpected events.
In addition, the prices of futures contracts can be highly volatile, using futures contracts can lower total return, the potential loss can exceed the Fund’s initial investment in such contracts and there is no assurance that a liquid market will exist at any particular time.
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By GlobalDataThe Fund is a closed-end management investment company seeking to achieve long-term capital appreciation through investments primarily in equity securities of Asian-Pacific issuers and in debt securities issued or guaranteed by Asian-Pacific governments or governmental entities.
