Morgan Stanley Investment Funds - stockselection
Morgan Stanley Investment Funds - stockselection
Morgan Stanley Investment Funds - stockselection
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65 <strong>Morgan</strong> <strong>Stanley</strong> <strong>Investment</strong> <strong>Funds</strong> 30 June 2009<br />
Euro Strategic Bond Fund<br />
INVESTMENT AIMS<br />
To provide an attractive rate of return,<br />
measured in Euro, through market, instrument<br />
and currency selection.<br />
Please refer to the full prospectus for the Fund’s investment objective and policy.<br />
STATEMENT OF INVESTMENTS<br />
Transferable securities and money market instruments admitted<br />
to official exchange listing or dealt in on another regulated<br />
market. As at 30 June 2009, expressed in Euro.<br />
<strong>Investment</strong>s<br />
Corporate Bonds<br />
Nominal in<br />
Euro unless<br />
specified<br />
Market<br />
value<br />
% of net<br />
assets<br />
United Kingdom<br />
Northern Rock covered SerEMTN<br />
3.875% /2011 2,160,000 2,112,493 1.96<br />
BA Covered Bond Issuer SerEMTN<br />
4.25% /2017 (United States of America) (4) 1,600,000 1,407,965 1.31<br />
Nationwide Building Society covered<br />
SerEMTN 3.5% /2015 1,200,000 1,083,852 1.01<br />
HSBC Holdings subord 3.625% /2020 (3) 800,000 694,625 0.64<br />
Diageo Finance co gtd SerEMTN<br />
1.484% /2012 (3) 610,000 595,483 0.55<br />
Standard Chartered sr unsecur SerEMTN<br />
5.75% /2014 550,000 570,123 0.53<br />
National Grid sr unsecur SerEMTN<br />
4.125% /2013 500,000 502,494 0.46<br />
HBOS sr subord SerEMTN 4.5% /2030 (3) 900,000 498,163 0.46<br />
Tesco sr unsecur SerEMTN 5.875% /2016 450,000 487,471 0.45<br />
Vodafone Group sr unsecur SerEMTN<br />
1.61% /2014 (3) 500,000 468,064 0.43<br />
Rexam jr subord 6.75% /2067 (3) 650,000 461,500 0.43<br />
JTI UK Finance co gtd SerEMTN 4.5% /2014 450,000 457,963 0.42<br />
Royal Bank of Scotland unsecur subord<br />
SerEMTN 4.5% /2016 (3) 500,000 412,843 0.38<br />
BAA Funding co gtd Ser144A priv plmt<br />
4.6% /2020 (Jersey) (3) (4) 600,000 386,172 0.36<br />
FCE Bank sr nts SerEMTN 7.125% /2013 450,000 365,906 0.34<br />
Hanson co gtd 7.875% /2010 (USD) 525,000 360,523 0.33<br />
Imperial Tobacco Finance co gtd SerEMTN<br />
4.375% /2013 350,000 338,799 0.31<br />
Lloyds TSB Bank nts SerEMTN<br />
6.375% /2016 300,000 306,866 0.28<br />
BAT International Finance co gtd SerEMTN<br />
5.375% /2017 300,000 305,642 0.28<br />
Bank of Scotland covered SerEMTN<br />
4.625% /2017 300,000 282,788 0.26<br />
British Telecommunications sr unsecur<br />
7.375% /2011 250,000 265,536 0.25<br />
Royal Bank of Scotland Group jr subord<br />
7.092% perpetual (3) 700,000 241,500 0.22<br />
Barclays Bank sr unsecur SerEMTN<br />
5.25% /2014 200,000 205,969 0.19<br />
HSBC Holdings subord SerEMTN 6% /2019 200,000 202,530 0.19<br />
Barclays Bank subord SerRCI<br />
14% perpetual (3) (GBP) 150,000 201,268 0.19<br />
GlaxoSmithKline Capital co gtd SerEMTN<br />
3.875% /2015 200,000 199,458 0.18<br />
Imperial Tobacco Finance co gtd SerEMTN<br />
7.25% /2014 150,000 160,138 0.15<br />
National Grid Gas sr unsecur SerEMTN<br />
5.125% /2013 150,000 155,962 0.14<br />
J Sainsbury unsubord CV 4.25% /2014 (GBP) 100,000 124,227 0.11<br />
Imperial Tobacco Finance co gtd SerEMTN<br />
8.375% /2016 100,000 108,845 0.10<br />
Anglo American Capital co gtd Ser144A<br />
priv plmt 9.375% /2014 (USD) 100,000 77,159 0.07<br />
Total for United Kingdom 12.98<br />
United States of America<br />
New York Life Global Funding nts SerGMTN<br />
3.75% 19/10/2009 1,200,000 1,188,601 1.11<br />
Goldman Sachs Group sr unsecur SerEMTN<br />
5.375% /2013 1,000,000 1,018,734 0.94<br />
WM Covered Bond Program SerEMTN<br />
4% /2016 1,150,000 983,904 0.91<br />
Citigroup subord SerEMTN 3.625% /2017 (3) 1,200,000 812,251 0.75