Morgan Stanley Launches Long/Short Hedge Fund

Jan 31 2008 | 11:21am ET

Morgan Stanley Investment Management today said that it has launched the Morgan Stanley Global Long/Short Fund, a global fund of hedge funds that will invest in approximately 20 to 25 long/short equity hedge funds. 

The Global Long/Short Fund charges a minimum investment of $100,000, which is far below the usual $1 million minimum required to invest in most hedge funds. And also unlike most hedge fund products, which provide delayed K-1 tax reporting, the new offering will deliver Form 1099 tax reporting by January 31 of each year, according to the firm.

“The Global Long/Short Fund offers investors the potential to capture the upside return of global equity markets while helping to reduce downside exposure,” said Mustafa Jama, CIO of Morgan Stanley Alternative Investment Partner's fund of hedge funds team. “As such, it may serve as an attractive alternative to long only equities investing for those seeking to enhance the risk/reward profile of their equity portfolio.”

Morgan Stanley AIP was founded in April 2000 and manages portfolios of hedge funds and private equity funds. The firm also manages the $900 million Absolute Return Fund and Absolute Return Fund STS.

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