Morgan Stanley Investment Funds - stockselection
Morgan Stanley Investment Funds - stockselection
Morgan Stanley Investment Funds - stockselection
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Notes to the financial statements (continued)<br />
As at 30 June 2009<br />
8 SOFT COMMISSION ARRANGEMENTS<br />
During the period the Company, its <strong>Investment</strong> Adviser or its<br />
Sub-Advisers did not enter into soft commission arrangements.<br />
9 STATEMENTS OF PORTFOLIO CHANGES<br />
A statement giving the changes in the portfolio of investments for<br />
the period ended 30 June 2009 is available to shareholders, free of<br />
charge, on request from the Company’s registered office, and also<br />
from the Paying Agents in countries where the company is<br />
registered to sell its Shares.<br />
Please see list of Paying Agents on page 185.<br />
10 OVERDRAFT FACILITY<br />
The Fund has access to an overdraft facility (the “Facility”)<br />
established with J.P. <strong>Morgan</strong> Bank Luxembourg S.A. The Facility<br />
is intended to provide, if necessary, for short-term/temporary<br />
financing, subject to certain restrictions, in connection with<br />
abnormal redemption activity. Borrowings pursuant to the<br />
Facility are subject to interest at a mutually agreed upon rate.<br />
11 REPURCHASE AGREEMENTS<br />
Details of the total repurchase agreements outstanding and the<br />
related collateral at 30 June 2009 are as follows:<br />
Fund Name Amount<br />
Market Value<br />
of Collateral received<br />
Maturity<br />
US Dollar Liquidity Fund 66,528,000 USD 68,523,927 USD 01.07.09<br />
US Dollar Liquidity Fund 70,000,000 USD 72,104,568 USD 01.07.09<br />
FX Alpha Plus RC 200 (Euro) Fund 17,850,000 EUR 18,207,000 EUR 01.07.09<br />
FX Alpha Plus RC 400 (Euro) Fund 122,400,000 EUR 124,848,000 EUR 01.07.09<br />
FX Alpha Plus RC 800 (Euro) Fund 21,100,000 EUR 21,522,000 EUR 01.07.09<br />
Alpha Advantage European Fixed<br />
Income Fund 3,100,000 EUR 3,162,000 EUR 01.07.09<br />
The collateral received in respect of the repurchase agreements<br />
consists of transferable securities.<br />
12 LIABILITY OF THE COMPANY<br />
The Directors shall maintain for each Fund a separate pool of<br />
assets. As between Shareholders, each pool of assets is invested<br />
for the exclusive benefit of the relevant Fund.<br />
With effect from 22 November 2007, the assets of the Company<br />
have been segregated on a sub-fund by sub-fund basis with third<br />
party creditors only having recourse to the assets of the relevant<br />
sub-fund.<br />
13 BROKER ACCOUNTS<br />
All derivative instruments, as listed with the Statements of<br />
<strong>Investment</strong>s, on pages 2 to 110, are transacted through third<br />
party brokers. These brokers hold the collateral described in the<br />
above mentioned statements on pages 2 to 110. The Fund is<br />
exposed to counter-party risk in respect of all amounts including<br />
collateral due to it from such brokers.<br />
<strong>Morgan</strong> <strong>Stanley</strong> <strong>Investment</strong> <strong>Funds</strong> 30 June 2009 182<br />
Payments of income and settlement proceeds are at the risk of<br />
the Fund.<br />
14 SUBSEQUENT EVENTS<br />
No significant changes were made subsequent to the period end.