Morgan Stanley Investment Management has launched the Morgan Stanley Investment Funds Global Quality Fund.
The fund seeks to generate attractive returns by investing in high quality companies characterised by an ability to compound value, a strong competitive advantage, an experienced management team and robust intangible assets, including strong brands and distribution networks.
Christian Derold, managing director and portfolio manager for the fund, says: “Our primary goal is to compound our investors’ assets over time. By investing in high quality companies with an inherent economic robustness, we aim to deliver returns to investors at a time when they need them most, during difficult and challenging market environments. Investing over the long term allows us to realise value through the steady growth of quality companies over time.”
To build the portfolio and identify quality, the portfolio managers screen companies on certain criteria including a resilient top line, attractive margins and sustainable cross-cycle returns. The team then meets with company management to develop an understanding of its culture and the long-term business strategy. This process helps to assess a company’s sustainability and resilience of returns. The final metric the team employs is valuation, which needs to be attractive in order to justify an investment.
Arthur Lev, head of the long-only business for Morgan Stanley Investment Management, says: “Morgan Stanley Investment Management’s world-class equity franchise, which includes the long-standing global brands and international equity strategies, utilises many years of experience to bring clients the products which help to protect investments and increase their assets. Our determination to help clients achieve their investment goals is at the core of what we do.”
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