Morgan Stanley Investment Management (MSIM) has released material discussing the challenges faced by good managers and how to determine when it may be appropriate to let them go. The Portfolio Solutions Group, which operates across multiple asset strategies including both traditional and alternative investments, offers solutions through managed portfolios or models in discretionary or advisory formats.
The document emphasizes that the views expressed are those of the Portfolio Solutions Group as of the date of publication and may change due to market or economic conditions. "The views and opinions and/or analysis expressed are those of the author or the investment team as of the date of preparation of this material and are subject to change at any time without notice due to market or economic conditions and may not necessarily come to pass," according to the release. It also notes that these perspectives do not represent all investment personnel at MSIM or its affiliates.
MSIM highlights that forecasts and estimates provided in their communications are speculative and may not occur as predicted. They stress that past performance does not guarantee future results, and diversification does not eliminate risk.
The material is intended for informational purposes only, not as a recommendation for any particular security or strategy. "This material is a general communication, which is not impartial and all information provided has been prepared solely for informational and educational purposes and does not constitute an offer or a recommendation to buy or sell any particular security or to adopt any specific investment strategy," states MSIM.
Distribution of this material is restricted based on local laws in various jurisdictions. In Europe, MSIM Fund Management (Ireland) Limited issues materials under regulation from the Central Bank of Ireland, while outside the EU, Morgan Stanley Investment Management Limited oversees distribution under UK regulations. Additional entities handle distribution in Switzerland, Dubai, Hong Kong, Singapore, Australia, Japan, Italy, The Netherlands, France, Spain, Germany, Denmark, and other regions according to local requirements.
Morgan Stanley Investment Management serves as Morgan Stanley’s asset management division. Its affiliates include Eaton Vance Management (International) Limited; Eaton Vance Advisers International Ltd; Calvert Research and Management; Eaton Vance Management; Parametric Portfolio Associates LLC; and Atlanta Capital Management LLC.