Saturday, 30 May 2015
Last updated 10 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…