Mutual Funds | Morgan Stanley Investment Management (2024)

** Calendar Year Return (%) is available by selecting the fund name in the pricing table.

Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. For the most recent month-end performance figures, please click on the monthly radio button within the Performance tab or call 1-800-548-7786. Investment returns and principal value will fluctuate and fund shares, when redeemed, may be worth more or less than their original cost.

Class A shares include maximum front-end sales charge of 5.50% (Alternatives), 5.25% (Equity) and 3.25% (Fixed Income), with the exception of Class A shares of the MSIFT Ultra-Short Income Portfolio, which does not have any front-end sales charge, the Class A shares of the MSIFT Short Duration Income Portfolio which has a 2.25% front-end sales charge, and the Class A shares of the MSIFT Ultra-Short Municipal Income Portfolio which has a maximum entry sales charge of 0.50% for single accounts under $250,000. Class B shares include deferred sales charge of 5.00% which declines to zero after sixth year. Class C shares include deferred sales charge of 1.00% which declines to zero after first year. Class L shares, Class I shares and Class R6 shares as well as the Class IR shares and Institutional Class shares of the MSIFT Ultra-Short Income Portfolio are not subject to a sales charge.

Where the net expense ratio is lower than the gross expense ratio, certain fees have been waived and/or expenses reimbursed. These waivers and/or reimbursem*nts will continue for at least one year from the date of the applicable fund’s current prospectus (unless otherwise noted in the applicable prospectus) or until such time as the fund's Board of Directors /Trustees acts to discontinue all or a portion of such waivers and/or reimbursem*nts. Absent such waivers and/or reimbursem*nts, returns would have been lower. Expenses are based on the fund's current prospectus.

Short-term returns may not be indicative of the fund’s long-term performance potential. A fund’s performance, especially for very short time periods, should not be the sole factor in making your investment decision.

Inception Returns reflect the inception date of the fund.

Class R6 shares, are being offered only to eligible investors who must meet a minimum initial investment of $5,000,000 or be a defined contribution, defined benefit or other employer sponsored employee benefit plan, whether or not qualified under the Internal Revenue Code of 1986, as amended (the "Code"), in each case subject to the discretion of the Portfolio's investment advisor.

Class W shares of the Fund are only offered investors who maintain wrap accounts sponsored by an adviser or broker-dealer and are not available as direct investments. Class W shares may be purchased only by or on behalf of a wrap account if the Adviser has an agreement with the wrap account sponsor (typically, a registered investment adviser or broker-dealer) to make the Fund available to the account.

Certain other investors may be eligible to purchase Class W shares at the discretion of the Adviser (such as on behalf of clients with which the Adviser or its affiliates has signed a separate investment advisory agreement pursuant to which such clients pay an advisory fee or investment vehicles that are advised or sub-advised by the Adviser or its affiliates).

RISK/RETURN DEFINITIONS
SEC 30-day yield is a measure of the income generated by the portfolio's underlying asset over the trailing 30 days, relative to the asset base of the portfolio itself. The SEC 30-Day yield - Subsidized reflects current fee waivers in effect. Absent such fee waivers, the yield would have been lower. The SEC 30-Day yield - Unsubsidized does not reflect the fee waivers currently in effect. For non-subsidized yield information, please click on the Non-Subsidized link above.

Performance and fund information is as of the most recent calendar quarter end, unless otherwise noted. Returns are net of fees and assume the reinvestment of all dividends and income. Returns for less than one year are cumulative (not annualized). Performance of other share classes will vary.

Please keep in mind that double-digit returns are highly unusual and cannot be sustained. Investors should also be aware that these returns were primarily achieved during favorable market conditions.

Morningstar

Ratings:The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. 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. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not take into account sales loads.

© 2024 Morningstar. All Rights Reserved. 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. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Please consider the investment objective, risks, charges and expenses of the fund carefully before investing. The prospectus contains this and other information about the fund. To obtain a prospectus, download one at morganstanley.com/im or call 1-800-548-7786. Please read the prospectus carefully before investing.

Index definitions can be found on the individual fund pages. These pages can be opened by clicking the fund's name in the left column of the above table.

Morgan Stanley Investment Management is the asset management division of Morgan Stanley.