Morgan Stanley Investment Management has launched a new fixed income credit fund operating a dedicated ‘buy and maintain’ approach, Citywire Selector has learned.
The Morgan Stanley Global Buy and Maintain fund builds on an existing approach made available in an FCP format. A wider available version has now been added to the firm’s SICAV fund range.
Commenting on the launch, Ford told Citywire Selector: ‘The fund seeks to offer global credit exposure similar to that of the benchmark, but with security selection that is unconstrained by an index, as well as limited turnover in order to minimize frictional costs.’
Morgan Stanley IM said it had launched the Luxembourg-domiciled in the new format, which was done officially on February 15, in order to meet increased international investor interest.
‘Notably, we see demand from UK investors looking for an alternative and cost effective approach to active credit allocation,’ Ford added.
According to the fund’s Lipper listing, it is currently registered in Luxembourg and the UK. It is benchmarked against the Bloomberg Barclays Global Agg Corp-US Dollar TR.