Morgan Nets $450M For Mortgage Fund

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.


In Depth

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Is Steven Cohen Going to Buy the Brooklyn Nets?

Jan 19 2015 | 6:49am ET

Rumors that Steve Cohen was interested in the Brooklyn Nets emerged after Scott...

Guest Contributor

Investors Benefit From Evolution Of Fund Of Hedge Funds Model

Jan 22 2015 | 12:27pm ET

The evolution of the fund of hedge funds model over the last few years represents...

 

Editor's Note