Morgan Stanley Investment Funds - stockselection

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1 Morgan Stanley Investment Funds 30 June 2009 Shareholders’ information The annual general meeting of shareholders of the Company is held at the registered office of the Company and will be held on the second Tuesday of the month of May at 10.30 am, or if such day is not a bank business day on the following bank business day. Notices of all general meetings are sent by mail to all registered shareholders at their registered address at least 8 days prior to the meeting. Such notices will indicate the time and place of the meeting as well as the conditions of admission thereto. Said notices will also contain the agenda and requirements of Luxembourg law with regard to the necessary quorum and majorities at the meeting. To the extent required by law, further notices will be published in the Mémorial C, Recueil des Sociétés et Associations du Journal Officiel du Grand-Duché de Luxembourg and in one Luxembourg newspaper. Audited financial statements to the shareholders in respect of the preceding financial year are made available at the registered office of the Company and are available to holders upon request. In addition, unaudited semi-annual reports are also made available at the registered office. The Company’s financial year end is 31 December. Any other notices relevant to the Company are also published in a Luxembourg newspaper or mailed to affected shareholders. The net asset value per share of each Class of Share is available on each dealing day during Luxembourg business hours at the registered office of the Company. Net asset value per share information is also available from market information provider, such as Bloomberg and Morningstar. No subscriptions can be received on the basis of financial reports. Subscriptions are only valid if made on the basis of the current prospectus supplemented by the latest annual report and the most recent semi-annual report, if published thereafter. In Switzerland, Bank Morgan Stanley A.G. carries out the functions of Swiss representative of the Company as well as those of paying agent. The prospectus, simplified prospectus, the articles of association, the annual and semi-annual reports of the Company may be obtained, upon request and free of charge, at the Swiss representative’s registered office, Bank Morgan Stanley A.G., Bahnhofstrasse 92, 8023 Zurich, Switzerland. In Switzerland, the list of the purchases and sales of investments which the Company has undertaken during the financial period can be obtained, upon request and free of charge, from the Swiss representative, Bank Morgan Stanley A.G., Bahnhofstrasse 92, 8023 Zurich, Switzerland. The investment aims set out in this semi-annual report are summaries only. The complete investment objectives and policies for each Fund are set out in the Company’s current prospectus.
American Franchise Fund INVESTMENT AIMS To seek long-term capital appreciation, measured in US Dollars, through investment primarily in equity securities of companies domiciled or exercising the predominant part of their economic activity in the US. Please refer to the full prospectus for the Fund’s investment objective and policy. STATEMENT OF INVESTMENTS Morgan Stanley Investment Funds 30 June 2009 2 Transferable securities and money market instruments admitted to official exchange listing or dealt in on another regulated market. As at 30 June 2009, expressed in US dollars. Investments Holdings Market value % of net assets Tobacco Philip Morris International 356,424 15,386,824 7.23 Reynolds American 149,128 5,726,515 2.69 British American Tobacco ADR 49,249 2,732,827 1.28 Total for Tobacco 11.20 Household Products Procter & Gamble 279,572 14,509,787 6.82 Kimberly-Clark 74,950 3,940,871 1.85 Total for Household Products 8.67 Food Products Nestlé Regd 274,840 10,411,144 4.89 Cadbury 395,968 3,402,965 1.60 Kellogg 73,092 3,392,931 1.59 Total for Food Products 8.08 Pharmaceuticals Mead Johnson Nutrition ‘A’ 399,807 12,298,063 5.77 Johnson & Johnson 85,218 4,849,756 2.28 Total for Pharmaceuticals 8.05 Internet Software & Services eBay 554,089 9,585,739 4.50 Google ‘A’ 7,421 3,150,882 1.48 Total for Internet Software & Services 5.98 IT Services Mastercard ‘A’ 30,435 5,097,558 2.39 Accenture ‘A’ 115,524 3,853,881 1.81 Redecard 142,100 2,232,166 1.05 Total for IT Services 5.25 Hotels, Restaurants & Leisure Starbucks 589,603 8,336,986 3.92 McDonald’s 48,382 2,807,124 1.32 Total for Hotels, Restaurants & Leisure 5.24 Beverages Diageo ADR 55,602 3,219,912 1.51 PepsiCo 45,749 2,524,887 1.18 Dr Pepper Snapple Group 116,437 2,473,122 1.16 Brown-Forman ‘B’ non-vtg 38,221 1,672,169 0.79 Total for Beverages 4.64 Diversified Financial Services Moody’s 113,991 2,996,823 1.41 Leucadia National 136,526 2,895,716 1.36 BM&FBOVESPA 334,238 2,046,950 0.96 Total for Diversified Financial Services 3.73 Insurance Berkshire Hathaway ‘B’ 1,689 4,872,765 2.29 Loews 102,111 2,768,229 1.30 Total for Insurance 3.59
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