Morgan Stanley Investment Management
is taking part in the Treasury's
guarantee program for money market funds. Morgan Stanley said Monday
that all its SEC-registered 2a-7 money market funds will apply to be insured.
, head and acting chief investment office of global fixed income, said while Morgan Stanley's money market funds have maintained their $1
NAV, the firm is participating in the program to give an added level of protection to the funds' shareholders.
Company Press Release
NEW YORK, Sep 29, 2008 (BUSINESS WIRE) -- Morgan Stanley Investment Management (MSIM) announced today that the Morgan Stanley Funds' Board of Directors/Trustees has approved the participation of its money market funds in the U.S. Treasury Temporary Guarantee Program. All Morgan Stanley SEC registered 2a-7 money market funds will apply to be insured under the program.
"We understand the fundamental role that money market funds play in both the retirement and investment strategies of Americans," said Kevin Klingert, Head and Acting Chief Investment Officer of Global Fixed Income at MSIM. "While the Morgan Stanley money market funds have maintained their $1 NAV throughout the recent unprecedented turmoil and continued to meet their stated objectives of capital preservation and liquidity, we are pleased to participate in the U.S. Treasury Temporary Guarantee program to provide an added level of protection for our shareholders."
Morgan Stanley Investment Management, together with its investment advisory affiliates, has nearly 1,000 investment professionals around the world and approximately $570 billion in assets under management or supervision as of August 31, 2008. By leveraging its global 'community of boutiques' structure and the strength of Morgan Stanley, MSIM strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.
Armie Margaret Lee
Stay ahead of the news ... Sign up for our email alerts now