morgan stanley prime property fund annual report

The fund is located in New York, New York and invests in Northern California, Southern California, Chicago, South Florida, Chicago, Washington D.C., Boston and New York across the United States. Dr. Anderson was the former editor of the Journal of Real Estate Portfolio Management; was awarded the Counselors of Real Estate designation, named a Kinnard Young Scholar by the American Real Estate Society, and named both a NAIOP Research Foundation Distinguished Fellow and a Homer Hoyt Institute Fellow. The Market Monitor series includes a wide array of market charts and views to guide your investing discussions. $250 million to the Morgan Stanley Prime Property Fund (MSPPF or the Fund). PDF The Official Web Site for The State of New Jersey The Trustees also reviewed a memorandum from the Funds legal counsel that summarized the fiduciary duties and responsibilities of the Board of Trustees in reviewing and approving the Investment Advisory Agreement, including the types of information and factors that should be considered in order to make an informed decision. Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals. Whether its hardware, software or age-old businesses, everything today is ripe for disruption. Situations may arise in which more than one Client invests in the same Underlying Fund. Private real estate fund dry powder is still above long-term averages as investors seek high quality, income-producing assets. Return of capital is a tax concept, not an economic concept. There may be an insufficient number of buyers or sellers which may affect the funds ability to buy or sell securities. Performance may be lower or higher than performance data quoted. 03-Mar-2023, As of For 87 years, weve had a passion for whats possible. As previously stated, we remain focused on net operating income (NOI) growth. Ifthe management company of the relevant Fund decides to terminate its arrangement for marketing that Fund in any EEA country where it is registered for sale, it will do so in accordance with the relevant UCITS rules. Performance of other share classes, when offered, may differ. GRIFFIN INSTITUTIONAL ACCESS REAL ESTATE FUND | SEMI-ANNUAL REPORT 2016 . Aggregate Bond Index in each of the since inception, trailing one year, and year to date through May 31, 2016 periods. Annual Report Jul 09, 2007. A description of the policies and procedures that the Fund uses to vote proxies relating to portfolio securities is available without charge upon request by calling toll-free 888-926-2688, or on the Securities and Exchange Commissions (SEC) website at http://www.sec.gov. The firm was founded in 2012 and is based in San Francisco, CA. Morgan Stanley Inst Global Real Est L 2.65% 8.89% . Past performance is not a reliable indicator of future results. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. As of September 30, 2016, Dr. Anderson and Mr. Propper were responsible for the management of the following types of accounts in addition to the Fund: Item 9. Shareholders should note that return of capital will reduce the tax basis of their shares and potentially increase the taxable gain, if any, upon disposition of their shares. Based upon all of the foregoing considerations, the Board of Trustees, including a majority of the Independent Trustees, approved the continuation of the Investment Sub-Advisory Agreement with AHIC. Management has determined that there were no other subsequent events to report through the issuance of these financial statements. Inflation Protection | Rhode Island State Investment Information Center Newsletters . Prior to joining Morgan Stanley in November 2003, andice This rating does not take into account other risk factors which should be considered before investing, these include: Insights by Global Listed Real Assets Team. hb```e``"g\dd@ A( The Trustees noted that the Fund commenced operations on June 30, 2014, and continued to gather assets. These factors contributed to positive net returns with low volatility and low correlation to the broader markets. Reports to shareholders and printing fees, Less: Fees waived/expenses reimbursed by adviser (Note 3), Net change in unrealized appreciation on investments, NET REALIZED AND UNREALIZED GAIN ON INVESTMENTS, NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS, Net Increase in Net Assets Resulting from Operations, Net Increase in Net Assets Derived from Beneficial Interest Transactions. The term of office for each Trustee and officer listed above will continue indefinitely. From our origins as a small Wall Street partnership to becoming a global firm of more than 60,000 employees today, Morgan Stanley has been committed to clients and communities for 85 years. The Fund is an interval fund and, as such, has adopted a fundamental policy to make quarterly repurchase offers, at net asset value, of no less than 5% of the Funds shares outstanding. Get the latest insights, analyses and market trends in our newsletter, podcasts and videos. 31-Jan-2023. Morgan Stanley - AnnualReports.com Historic figures are only a guide and may not be a reliable indicator of what may happen in the future. Interest rate shocks increased volatility for yield sensitive securities, including publicly traded real estate, higher than that of the S&P 500 throughout the year (10/1/15 9/30/16 MSCI U.S. REIT Index (RMZ) standard deviation: 19.93% vs S&P 500 standard deviation of 17.36%). It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. Past performance is not a reliable indicator of future results. The Adviser maintains written policies and procedures as to the handling, voting and reporting of proxy voting and makes appropriate disclosures about the Advisers proxy policies and practices and the availability of the Advisers proxy voting record. Morningside Presbyterian Preschool. Various inputs are used in determining the value of the Funds investments as of the reporting period end. Previously, Dr. Anderson held several senior executive positions at Bluerock Real Estate LLC., including founding partner of the Bluerock Total Income + Real Estate Fund where he was the portfolio manager. The Distributor serves as principal underwriter of shares of the Fund. Prior to February 1, 2016 each Trustee who is not affiliated with the Fund or the Adviser received a quarterly fee of $2,500, as well as reimbursement for any reasonable expenses incurred attending the meetings, and $500 per each special telephonic meeting. The views and information discussed in this commentary are as of the date of publication, are subject to change, and may not reflect the writers current views. Win whats next. The Trustees reviewed the balance sheet of CenterSquare and discussed the financial stability and profitability of the firm. Management has reviewed the tax positions and has concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken in the Funds 2014 and2015 returns or expected to be taken in the Funds 2016 returns. Andrew Slimmon, lead portfolio manager of the Applied Equity Advisors suite of funds and strategies shares his TAKE -- Takeaways & Key Expectations on the financial markets. Pursuant to Section 852(b)(3) of the Internal revenue Code, the Fund designated $1,881,291 as long-term capital gain distribution for the year ended September 30, 2016. Select a trending topic or type your . 20 November 2020 Fund name: Prime Property Fund Europe Fund size: 700 million Launch date: October 2019 Morgan Stanley Real Estate Investing has raised 700 million for its Prime Property Fund Europe. The Trustees noted that the Expense Limitation Agreement the Adviser had agreed to in order to help limit the Funds annual operating expenses was still in effect and that to date, fund expenses have exceeded the Expense Limitation Agreement. 764 0 obj <> endobj PDF Real Estate Investment Summary - Nebraska The Statement of Additional Information of the Fund includes additional information about the Trustees and officers and is available, without charge, upon request by calling the Funds toll, General Counsel, Triloma Capital (private equity firm), 2013, Class of 1938 Foundation (nonprofit), 1996, Chief Executive Officer, ROC Senior Housing Fund Manager, LLC (real estate fund management), 2013, ROC Seniors Housing & Medical Properties Fund, LP (real estate fund), 2013, Executive Vice President, Recognos Financial (financial data services firm), 2015, Valued Advisers Trust (14 portfolios), 2010, Chairman and Chief Executive Officer of Griffin Capital Corporation; Chief Executive Officer of Griffin Capital Securities, LLC; President and Director, Griffin, Chairman, Griffin Capital Corporation; 1995, Chief Financial Officer, Griffin Capital Corporation; Chief Financial Officer, Griffin, Portfolio Manager, Secretary and Trustee Since 2014, Chief Economist, Griffin Capital Corporation; Chief Investment Officer, Griffin Capital Advisor, LLC; President, Griffin Capital Asset Management Company, LLC; Howard Phillips Eminent Scholar Chair and Professor of Real Estate at the University of Central Florida; President, Bluerock Real Estate LLC; President, CNL Real Estate Advisors; and Chief Economist, Marcus and Millichap Company; Executive Vice President, Griffin, Compliance Director, Cipperman Compliance Services, LLC (compliance services provider). YTD performance data is not annualised. In the absence of specific voting guidelines from the particular Client, the Adviser will vote Proxies in the best interests of such Client. 2023 PitchBook. For the year ended September 30, 2016, the following reclassifications, which had no impact on results of operations or net assets, were recorded to reflect tax character. Under the Distribution Agreement the Class C shares will pay to the Distributor a Distribution Fee that will accrue at an annual rate equal to 0.75% of the Funds average daily net assets attributable to Class C shares, payable on a quarterly basis. Annual net returns are provided in the Performance Notes. Such fees, expenses, and commissions could reduce returns. If a Funds NAV decreases, the Fund will have distributed more than it has economically earned or it will have incurred an economic loss. Notes. Nearly 300 investment consulting professionals in the U.S. advise institutional investors such as corporations, public organizations, union associations, health systems, endowments,and foundations. For additional mutual fund and exchange traded fund data (such as sector / industry / country / regional / fund allocations of sources of value add, maturity / quality / market capitalization allocations) not currently shown on individual Fund webpages or the Fund Factsheet, please call JPM Shareholder Services desk at 1-800-480-4111. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Hear their stories and learn about how they are redefining the terms of success. Morgan Stanley Real Estate Prime Property Fund is a real estate core fund managed by Morgan Stanley Real Estate Advisors. . For additional information regarding sector classification/definitions please visit www.msci.com/gics and the glossary page.Cash & Equivalentsare defined as the value of assets that can be converted into cash immediately. Performance data for funds with less than one year's track record is not shown. Total returns would have been lower had certain expenses not been waived during the period. The Funds distribution policy is to make quarterly distributions to shareholders. 2014, Fund Controller, ALPS Fund Services, Inc., 2011, Vice President and Assistant Secretary Since 2015, Vice President and General Counsel Securities, Griffin Capital Corporation, 2014, Vice President and Senior Counsel, ALPS Fund Services, Inc. 2015. Fund Documents | J.P. Morgan Asset Management SEC.gov | HOME The cost of purchases and proceeds from the sale of securities, other than short-term securities, for the year ended September 30, 2016 were as follows: Distributions are determined in accordance with federal income tax regulations, which differ from GAAP, and, therefore, may differ significantly in amount or character from net investment income and realized gains for financial reporting purposes. We seek attractive long-term, risk-adjusted returns by investing in publicly traded real estate securities we believe offer the best value relative to their underlying assets and earnings. Please visit our Glossary page for fund related terms and definitions. Dr. Anderson received his bachelors degree in Finance from North Central College in 1991 as a Presidential Scholar and holds a Ph.D. in Finance as a Presidential Fellow from the University of Alabama, where he graduated with highest distinction in 1996. Our insightful research, advisory and investing capabilities give us unique and broad perspective on sustainability topics. Liability Driven Investing (LDI) Customized solutions structured to fit your LDI needs. SEC.gov | HOME Past performance does not guarantee future results. The Trustees also noted that CenterSquares fee, combined with the Advisers fee, were similar to the management fees for funds with similar investment strategies. The Trustees also considered potential benefits for CenterSquare in managing the Fund, including promotion of CenterSquare name, the ability for CenterSquare to place small accounts into the Fund, and the potential for CenterSquare to generate soft dollars from Fund trades that may benefit CenterSquares other clients. The Fund was organized as a statutory trust on November 5, 2013 and under the laws of the State of Delaware. The continued growth has allowed the portfolio to further diversify by property type, geography and fund manager. The Trustees noted that the Fund outperformed the S&P 500 Index and the Barclays U.S. Any Trustee may be removed at a meeting of shareholders by a vote meeting the requirements of the Funds organizational documents. Standard deviation measures the average deviations of a return series from its mean, and is often used as a measure of volatility/risk. Class C shares may be subject to a 1.00% contingent deferred sales charge on shares redeemed during the first 365 days after their purchase. Diversification does not eliminate the risk of experiencing investment losses. From our startup lab to our cutting-edge research, we broaden access to capital for diverse entrepreneurs and spotlight their success. After several years of growing tensions, the potential for a reset under. PRIME, a $6.3 billion diversified core real estate fund, is managed by Morgan Stanley Real Estate. Net increase in net assets resulting from operations, Net cash provided by financing activities, Cash & cash equivalents, beginning of year. This is a profile preview from the PitchBook Platform. A timely analysis of market-changing events and their impact on the investment landscape. Total distributions during a calendar year generally will be made from the Funds net investment income, net realized gains on investments and net unrealized gains on investments, if any. PDF Employees' Retirement System of Rhode Island The Fund has entered into a Distribution Agreement with ALPS Distributors, Inc. (the Distributor) to provide distribution services to the Fund. )E;CIa#939$N JC'IG8u+ zM7Dy(9 @0N%y0DH"%P"R*M6Fs{YLra]~{fvn~o? Morgan Stanley Prime Property Fund is an open-end core fund with a focus on office, retail, multifamily, . PDF Prime Property Fund Discussion Materials - WordPress.com Measurement is time-weighted. Morgan Stanley Prime Property Fund - AON Memo.pdf. As of September 30, 2016, net unrealized appreciation/(depreciation) of investments based on the federal tax cost was as follows: Gross Appreciation (excess of value over tax cost), Gross Depreciation (excess of tax cost over value), Cost of Investments for Income Tax Purposes. The Fund is actively managed, and the management of the fund is not constrained by the composition of the Benchmark. . The value of the investments and the income from them will vary and there can be no assurance that the Fund will achieve its investment objectives. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. 2023Morgan Stanley. We are pleased to present the Griffin Institutional Access Real Estate Funds (the Fund) annual report. At Morgan Stanley, we put our beliefs to work. Past performance is no guarantee of future results. Class A and Class I shares are not currently subject to a Distribution Fee. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies. It is the current yield of Returns may increase or decrease as a result of currency fluctuations. Additionally, Mr. Propper serves as Vice President, Product Development of Griffin Capital Corporation, a position he has held since joining Griffin Capital Corporation in 2014. Within this role Mr. Propper provided portfolio management services to the Bluerock Total Income Plus Real Estate Fund. The Trustees noted that the Fund commenced operations on June 30, 2014, and continued to gather assets. Article 8 products are those which promote environmental or social characteristics and which integrate sustainability into the investment process in a binding manner.

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