InvestSMART

Morgan Stanley FX Alpha - Managed Fund (Closed)

Fund Objective
The objective of the Fund is to generate a risk controlled return that has a low level of correlation to other asset classes by investing in the global currency markets. The Fund seeks to out perform the UBS Australian Bank Bill Index by 4% per annum, gross of any fees using a Value-at-Risk (VaR) based risk framework with the aim of managing risk.
Fund Strategy
The Manager's systematic currency selection process employs computer modelling within a risk management framework and seeks to profit from changes in the relative valuations of currency pairs. Cash invested is put to work, earning the rate available on cash equivalent investments. At the same time, the Manager aims to achieve additional returns in a risk controlled manner from the currency forward market.

Fund Performance Comparison

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Fees Comparison

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NOTE: Fee data has been provided by Morningstar, it may not include all costs being charged on your investment such as platform and adviser fees. You should check your fund manager or adviser statements to find out the exact fees you are being charged. Peers are funds that use the same benchmark in the Morningstar database.
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Fund performance

  1M 3M 6M 1Y p.a. 2Y p.a. 3Y p.a. 5Y p.a. 10Y p.a.
Total return -0.11% 1.69% 3.8% 9.24% 5.52% -% -% -%
Growth return -0.11% 0.57% 0.59% 1.78% -0.16% -% -% -%
Income return 0% 1.12% 3.21% 7.46% 5.68% -% -% -%
Market index (RBA Bank accepted Bills 90 Days)
Total return 0.35% 0.96% 1.88% 3.76% 4.06% 4.11% 2.96% 2.14%
As at 31 Aug 2010. Returns for periods greater than 1 year are annualised. All figures are percentages.

Asset Allocation

Morgan Stanley FX Alpha
Cash
94.96%
Fixed Interest
5.04%
Australian Equities
0%
International Equities
0%
Property & Infrastructure
0%
Alternatives
0%
Average Allocation of Peers
Cash
55.65%
Fixed Interest
15.71%
Australian Equities
4.94%
International Equities
2.99%
Property & Infrastructure
1.97%
Alternatives
18.74%

General Information

Fund Details
Type Description
Morgan Stanley FX Alpha (Wholesale)
Closed
Morgan Stanley Invt Mgmt (Australia) Ltd
MAQ0554AU
Miscellaneous
Not Rated
Investment Fund
17 Jan 2008
$5.44 million (as at 31 Aug 2010)
$1.02 (as at 24 Sep 2010)
$1.02 (as at 24 Sep 2010)
Finalised
Offer information
Type Description
Indirect Cost Ratio (ICR) 1.20% (as at 30 Jun 2010)
Minimum initial investment $50,000
Minimum additional investments $10,000.00
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FAQs about the Morgan Stanley FX Alpha

The objective of the Morgan Stanley FX Alpha managed fund is The objective of the Fund is to generate a risk controlled return that has a low level of correlation to other asset classes by investing in the global currency markets. The Fund seeks to out perform the UBS Australian Bank Bill Index by 4% per annum, gross of any fees using a Value-at-Risk (VaR) based risk framework with the aim of managing risk.

The strategy of the Morgan Stanley FX Alpha managed fund is The Manager's systematic currency selection process employs computer modelling within a risk management framework and seeks to profit from changes in the relative valuations of currency pairs. Cash invested is put to work, earning the rate available on cash equivalent investments. At the same time, the Manager aims to achieve additional returns in a risk controlled manner from the currency forward market.

The APIR code of the Morgan Stanley FX Alpha managed fund is MAQ0554AU.

Morgan Stanley FX Alpha’s total return last month was -0.11%. This was made up of a growth return of -0.11% and an income return of 0%. These returns were calculated as at 31 Aug 2010.

Morgan Stanley FX Alpha’s total return for the last three months was 1.69%. This was made up of a growth return of 0.57% and an income return of 1.12%%. These returns were calculated as at 31 Aug 2010.

Morgan Stanley FX Alpha’s one-year total return is 9.24%. This was made up of a growth return of 1.78% and an income return of 7.46%. These returns were calculated as at 31 Aug 2010.

Morgan Stanley FX Alpha’s one-year total return is -%. This was made up of a growth return of -% and an income return of -%. These returns were calculated as at 31 Aug 2010.

The asset allocation of the Morgan Stanley FX Alpha managed fund is :

Cash
94.96%
Fixed Interest
5.04%
Australian Equities
0%
International Equities
0%
Property & Infrastructure
0%
Alternatives
0%

The Responsible Entity for the Morgan Stanley FX Alpha managed fund is Morgan Stanley Invt Mgmt (Australia) Ltd.

The Morgan Stanley FX Alpha managed fund belongs to the Miscellaneous sector/asset class.

As at 31 Aug 2010, the size of the Morgan Stanley FX Alpha managed fund was $5.44 million.

The Morgan Stanley FX Alpha managed fund has an inception date of 17 Jan 2008.

The current entry price of the Morgan Stanley FX Alpha managed fund is $1.02 per unit and the current exit price is $1.02 per unit (as at 24 Sep 2010).

The current exit price of the Morgan Stanley FX Alpha managed fund is $1.02 per unit and the current entry price is $1.02 per unit (as at 24 Sep 2010).

The minimum initial investment amount for the Morgan Stanley FX Alpha managed fund is $50,000. Minimum additional investment is $10000.

Fund data sourced from Morningstar. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). Data and content is provided for personal use only. Whilst every care has been taken in producing these numbers, neither Morningstar nor InvestSMART can make any guarantees around the complete accuracy of these figures. Should you decide to change investments, please read all relevant disclosure documents including the Product Disclosure Statements and if required, you may consider speaking to a financial professional for further guidance. A tax event may be realised as a result of switching investments. Past performance is not a reliable indicator of future performance.