Morgan Stanley Investment Funds - stockselection

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67 Morgan Stanley Investment Funds 30 June 2009 Euro Strategic Bond Fund STATEMENT OF INVESTMENTS (continued) 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 Euro. Investments Corporate Bonds (continued) Nominal in Euro unless specified Market value % of net assets Spain (continued) Gas Natural Capital Markets co gtd SerEMTN 5.25% /2014 200,000 202,117 0.19 Santander International Debt bnk gtd SerEMTN 5.625% /2012 150,000 158,482 0.15 Total for Spain 2.23 Italy UniCredit sr unsecur SerEMTN 1.533% /2010 (3) 500,000 496,037 0.45 Intesa Sanpaolo sr unsecur SerGMTN 4.75% /2017 400,000 407,449 0.38 Fiat Finance & Trade co gtd 6.625% /2013 (Luxembourg) (4) 450,000 384,750 0.36 Banca Monte dei Paschi di Siena sr unsecur SerEMTN 4.75% /2014 300,000 305,772 0.28 UniCredit subord SerEMTN 5.75% /2017 300,000 297,918 0.28 Total for Italy 1.75 Ireland GE Capital European Funding co gtd SerEMTN 4.125% /2016 1,000,000 939,618 0.86 Caterpillar International Finance co gtd SerEMTN 5.25% /2011 350,000 363,279 0.34 Smurfit Kappa Funding sr subord 7.75% /2015 250,000 216,250 0.20 Total for Ireland 1.40 Germany Muenchener Rueckversicherungs subord 5.767% perpetual (3) 500,000 378,257 0.36 KfW - Kreditanstalt fuer Wiederaufbau govt gtd SerDTE CV 3.25% /2013 300,000 305,190 0.28 Commerzbank sr unsecur SerEMTN 4.75% /2015 250,000 251,392 0.23 ThyssenKrupp sr unsecur SerEMTN 8% /2014 200,000 204,356 0.19 Grohe Holding sr secured SerRegS 4.31% /2014 (3) 250,000 167,500 0.15 Deutsche Bank sr unsecur SerEMTN 5.125% /2017 150,000 153,126 0.14 Total for Germany 1.35 Switzerland Credit Suisse sr unsecur SerEMTN 5.125% /2017 600,000 615,653 0.58 UBS sr nts SerEMTN 6% /2018 400,000 413,460 0.38 Adecco Financial Service Bermuda co gtd CV 0% /2013 (Bermuda) (4) (CHF) 415,000 292,280 0.27 UBS bnk gtd SerEMTN 7.152% perpetual (3) 200,000 123,333 0.11 Total for Switzerland 1.34 Luxembourg Gaz Capital secured SerEMTN LPN 6.605% /2018 550,000 450,313 0.42 Wind Acquisition Finance sr secured co gtd SerRegS 9.75% /2015 250,000 246,250 0.23 Coca-Cola Enterprises Finance LT 1 Commandite co gtd 4.75% /2010 200,000 204,628 0.19 Hellas Telecommunications Luxembourg V sr secured SerRegS 4.935% /2012 (3) 300,000 204,250 0.19 Investments Corporate Bonds (continued) Nominal in Euro unless specified Market value % of net assets Luxembourg (continued) ArcelorMittal sr unsecur CV 7.25% /2014 571,900 163,849 0.15 ArcelorMittal sr unsecur 9.375% /2016 100,000 104,620 0.10 Total for Luxembourg 1.28 Sweden Svenska Handelsbanken sr unsecur SerEMTN 4.875% /2014 500,000 516,213 0.49 Telefonaktiebolaget LM Ericsson sr unsecur SerEMTN 6.75% /2010 300,000 303,924 0.28 Vattenfall sr unsecur SerEMTN 5.25% /2016 250,000 264,556 0.24 Rodamco Sverige co gtd SerEMTN 4.125% /2011 220,000 221,177 0.20 Total for Sweden 1.21 South Korea Export-Import Bank of Korea sr unsecur SerEMTN 5.75% /2013 800,000 798,624 0.74 Korea Electric Power sr unsecur CV 0% /2011 300,000 319,044 0.29 Total for South Korea 1.03 Australia Westpac Banking sr unsubord SerEMTN 4.25% /2012 500,000 511,286 0.47 Australia & New Zealand Banking Group sr unsecur SerEMTN 5.25% /2013 450,000 473,198 0.44 BHP Billiton Finance co gtd SerEMTN 6.375% /2016 100,000 109,745 0.10 Total for Australia 1.01 Belgium Delhaize Group sr unsecur 5.625% /2014 650,000 672,750 0.62 Anheuser-Busch InBev co gtd SerEMTN 7.375% /2013 350,000 381,595 0.35 Total for Belgium 0.97 Cayman Islands Norinchukin Finance bnk gtd SerEMTN 4.25% /2016 (3) 1,000,000 930,614 0.86 Total for Cayman Islands 0.86 Canada Royal Bank of Canada sr unsecur SerEMTN 5.75% /2011 540,000 575,754 0.53 Bombardier sr unsecur SerRegS 7.25% /2016 400,000 337,366 0.31 Total for Canada 0.84 Jersey ASIF III Jersey sr secured SerEMTN 4.75% /2013 1,050,000 767,359 0.71 WPP co gtd SerWPP CV 5.75% /2014 (United Kingdom) (4) (GBP) 100,000 123,019 0.11 Total for Jersey 0.82 Denmark Danske Bank govt liquid gtd SerEMTN 4.75% /2012 400,000 413,556 0.38 TDC sr unsecur unsubord SerEMTN 6.5% /2012 150,000 150,500 0.14 Danske Bank sr unsecur SerEMTN 4.75% /2014 150,000 150,152 0.14 Danske Bank subord SerEMTN 5.375% /2014 (3) 160,000 146,487 0.14 Total for Denmark 0.80
Euro Strategic Bond Fund STATEMENT OF INVESTMENTS (continued) 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 Euro. Investments Corporate Bonds (continued) Norway DnB NOR Bank sr unsecur SerEMTN 5.875% /2013 350,000 372,094 0.34 Statkraft nts SerEMTN 5.5% /2015 100,000 103,608 0.10 Statkraft sr unsecur 6.625% /2019 50,000 52,803 0.05 DnB NOR Bank sr unsecur SerEMTN 4.5% /2014 50,000 50,277 0.05 Total for Norway 0.54 Bermuda Bacardi co gtd 7.75% /2014 150,000 161,976 0.15 Total for Bermuda 0.15 British Virgin Islands C10 - EUR Capital SPV co gtd 6.277% perpetual (3) 200,000 80,500 0.07 Total for British Virgin Islands 0.07 Total for Corporate Bonds 55.13 Government Bonds Nominal in Euro unless specified Market value % of net assets France Government of France OAT 3.75% /2017 5,300,000 5,411,944 5.00 French Treasury Note BTAN nts 3.5% /2011 2,950,000 3,066,541 2.84 Government of France OAT 4% /2013 2,800,000 2,962,798 2.74 Government of France OAT 5.5% /2029 2,300,000 2,633,490 2.43 Total for France 13.01 Italy Italy Buoni Poliennali Del Tesoro 3.5% /2011 4,500,000 4,645,487 4.30 Italy Buoni Poliennali Del Tesoro 4.25% /2014 2,000,000 2,091,126 1.93 Italy Buoni Poliennali Del Tesoro 4% /2017 1,500,000 1,523,768 1.41 Total for Italy 7.64 Netherlands Government of Netherlands 4% /2037 5,400,000 5,105,471 4.72 Government of Netherlands 3.25% /2015 1,500,000 1,510,728 1.40 Total for Netherlands 6.12 Germany Bundesrepublik 4.75% /2034 2,600,000 2,759,686 2.55 Bundesrepublik 6.5% /2027 1,500,000 1,913,462 1.77 Bundesrepublik 3.25% /2015 400,000 408,586 0.38 Total for Germany 4.70 Greece Hellenic Republic Government Bond 4.6% /2013 2,400,000 2,516,995 2.33 Total for Greece 2.33 Investments Government Bonds (continued) Morgan Stanley Investment Funds 30 June 2009 68 Nominal in Euro unless specified Brazil Republic of Brazil unsubord 10% /2014 (1) (BRL) 3,100,000 1,101,550 1.02 Federal Republic of Brazil sr unsecur 7.375% /2015 250,000 278,925 0.26 Total for Brazil 1.28 Mexico Mexican Bonos 10% /2024 (MXN) 15,600,000 955,648 0.88 Total for Mexico 0.88 South Africa Republic of South Africa 7.25% /2020 (ZAR) 6,700,000 543,880 0.50 Total for South Africa 0.50 Hungary Republic of Hungary 5.75% /2018 350,000 322,632 0.30 Total for Hungary 0.30 Total for Government Bonds 36.76 Mortgage and Asset Backed Securities Market value % of net assets Australia Resimac MBS Trust 2005-1E 1A 1.545% /2037 (3) 812,223 762,225 0.71 Resimac MBS Trust 2004-1E 1A 1.625% /2035 (1) (3) 462,055 461,601 0.43 Medallion Trust 2004-1G A3 1.399% /2035 (3) 510,327 455,008 0.42 Rams Mortgage Securities 2003-1E 2A 1.522% /2034 (1) (3) 116,822 98,131 0.09 Total for Australia 1.65 United Kingdom Leek Finance 18X A2C 1.365% /2038 (3) 436,482 329,882 0.30 Leek Finance 17 X A2C 1.375% /2037 (3) 404,352 323,136 0.30 Permanent Master Issuer 2007-1 3A 1.525% /2033 (3) 300,000 267,670 0.25 Granite Master Issuer 2006-4 A7 1.058% /2054 (3) 306,518 217,237 0.20 Granite Master Issuer 2007-2 3A2 1.059% /2054 (3) 229,888 162,830 0.15 Total for United Kingdom 1.20 United States of America Countrywide Alternative Loan Trust 2006-OA18 A3 0.584% /2046 (1) (3) (USD) 1,266,171 112,163 0.10 American Home Mortgage Investment Trust 2004-41A1 0.654% /2045 (3) (USD) 101,207 55,183 0.05 Mastr Adjustable Rate Mortgages Trust 2006-OA1 3A3 2.379% /2046 (1) (3) (USD) 284,716 20,987 0.02 Total for United States of America 0.17 Total for Mortgage and Asset Backed Securities 3.02 Total Investment Securities 102,654,939 94.91
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