Friday, 31 October 2014
Last updated 5 hours ago
Feb 23 2012 | 5:02am ET
Morgan Stanley's asset management arm has raised more than $450 million to launch a mortgage-backed securities fund.
The investment bank said yesterday that it had held a final close of the Morgan Stanley Opportunistic Mortgage Income Fund. The new fund, managed by Morgan Stanley Investment Management's global fixed-income group, will invest in a "wide range of mortgage-related securities."
"We believe the $8 trillion mortgage-backed securities market presents compelling opportunities for investors to selectively purchase residential and commercial mortgage-backed securities at attractive yields," said Sheila Huang, head of the MSIM mortgage team. "The Opportunistic Mortgage Income Strategy combines a proprietary analysis of individual mortgage-backed securities with a portfolio-level hedging strategy to confidently navigate this market."
Morgan Stanley's mortgage fund follows recent launches of similar strategies by CQS and Pamplona Capital Management.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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