Morgan Stanley Investment Funds - stockselection

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5 Morgan Stanley Investment Funds 30 June 2009 Asian Equity 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 US dollars. Investments Holdings Market value % of net assets Taiwan (continued) Taishin Financial Holdings 8,303,000 3,112,676 0.60 Yuanta Financial Holding 4,617,000 3,109,896 0.60 Siliconware Precision Industries 2,525,000 2,928,261 0.56 Taiwan Fertilizer 918,000 2,725,181 0.52 First Financial Holding 4,019,940 2,401,427 0.46 MediaTek 88,000 1,051,387 0.20 Wistron GDR RegS 56,350 901,600 0.17 Total for Taiwan 15.29 Hong Kong Wharf Holdings 2,030,749 8,607,644 1.64 New World Development 2,845,800 5,148,078 0.98 Cheung Kong Holdings 421,000 4,840,079 0.93 Sun Hung Kai Properties 368,000 4,596,379 0.88 Kerry Properties (Bermuda) (4) 1,017,070 4,461,927 0.86 Hutchison Whampoa 627,000 4,097,696 0.79 Hang Seng Bank 257,900 3,627,192 0.70 BOC Hong Kong Holdings 2,027,500 3,552,657 0.68 Li & Fung (Bermuda) (4) 1,224,000 3,285,016 0.63 Lifestyle International Holdings (Cayman Islands) (4) 1,743,000 2,419,927 0.46 Hong Kong Land Holdings (Bermuda) (4) 586,000 2,074,440 0.40 Pacific Basin Shipping (Bermuda) (4) 3,228,000 2,061,728 0.40 Hopewell Holdings 638,000 2,000,413 0.38 Swire Pacific ‘A’ 150,500 1,518,574 0.29 NWS Holdings (Bermuda) (4) 827,000 1,496,050 0.29 Total for Hong Kong 10.31 Indonesia PT Telekomunikasi Indonesia 8,103,000 5,953,711 1.14 PT Bank Central Asia 12,544,000 4,331,874 0.83 PT Astra International 1,776,000 4,140,955 0.79 PT Bank Mandiri Persero 11,490,000 3,573,916 0.69 Bank Rakyat Indonesia 5,129,000 3,165,584 0.61 PT Indocement Tunggal Prakarsa 3,101,000 2,354,421 0.45 PT Bumi Resources 11,732,000 2,137,793 0.41 PT Perusahaan Gas Negara 5,590,000 1,725,055 0.33 Total for Indonesia 5.25 Singapore Singapore Telecommunications 2,905,000 6,020,933 1.15 Oversea-Chinese Banking 887,300 4,094,901 0.79 Singapore Exchange 742,000 3,639,642 0.70 DBS Group Holdings 415,500 3,387,267 0.65 United Overseas Bank 314,000 3,184,580 0.61 Keppel 436,000 2,078,414 0.40 CapitaLand 458,000 1,173,913 0.23 City Developments 158,000 936,571 0.18 Singapore Press Holdings 380,000 829,597 0.16 CWT Distribution 1,950,000 646,654 0.12 Total for Singapore 4.99 India Bharat Heavy Electricals 46,200 2,132,505 0.40 HDFC Bank 62,600 1,957,512 0.37 State Bank Of India (1) 50,800 1,856,780 0.36 Jaiprakash Associates 378,900 1,623,914 0.31 Hero Honda Motors 54,809 1,604,211 0.31 Unitech 954,215 1,591,691 0.31 Bharti Airtel 93,400 1,569,022 0.30 Hindustan Unilever 259,500 1,453,743 0.28 Total for India 2.64 Investments Holdings Market value % of net assets Thailand Advanced Info Service (Foreign) 1,051,700 2,791,987 0.53 PTT (Foreign) (1) 324,400 2,226,741 0.43 Kasikornbank (Foreign) (1) 1,026,200 2,182,444 0.42 Bangkok Bank Public ‘NVDR’ (1) 658,900 2,087,451 0.40 Siam Commercial Bank (Foreign) (1) 735,000 1,617,043 0.31 Banpu (Foreign) Regd 87,800 870,531 0.17 Total for Thailand 2.26 Malaysia Bumiputra-Commerce Holdings 670,200 1,725,551 0.33 Tenaga Nasional 665,500 1,448,385 0.28 IJM 665,000 1,097,297 0.21 AMMB Holdings 1,078,500 1,037,078 0.20 Digi.Com 77,000 486,316 0.09 Total for Malaysia 1.11 Germany Esprit Holdings (Bermuda) (4) 849,800 4,742,371 0.91 Total for Germany 0.91 Philippines Ayala 227,820 1,253,578 0.24 Total for Philippines 0.24 Total Investment Securities 514,184,348 98.60 Other Assets less Liabilities 7,311,409 1.40 Total Net Asset Value 521,495,757 100.00 (1) These securities are valued at their fair value. See note 2(a) within the Notes to the Financial Statements. (4) The country in brackets represents the country of incorporation of this security.
Asian Property Fund INVESTMENT AIMS To seek long-term capital appreciation, measured in US Dollars, through investment in the equity securities of companies in the Asian real estate industry. Please refer to the full prospectus for the Fund’s investment objective and policy. STATEMENT OF INVESTMENTS Morgan Stanley Investment Funds 30 June 2009 6 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 Hong Kong Sun Hung Kai Properties 6,019,300 75,182,029 9.62 Hong Kong Land Holdings (Bermuda) (4) 10,745,000 38,037,300 4.86 Kerry Properties (Bermuda) (4) 8,066,213 35,386,800 4.52 Hang Lung Properties 7,613,000 25,196,249 3.22 Henderson Land Development 3,630,300 20,821,258 2.66 Hysan Development 5,910,206 15,175,688 1.94 Swire Pacific ‘A’ 1,444,500 14,575,283 1.86 Cheung Kong Holdings 994,000 11,427,646 1.46 Agile Property Holdings (Cayman Islands) (4) 4,418,000 6,350,437 0.81 Sino Land 3,016,000 4,996,766 0.64 Total for Hong Kong 31.59 Japan Mitsui Fudosan 4,354,000 76,168,411 9.73 Mitsubishi Estate 4,449,000 74,500,691 9.52 Sumitomo Realty & Development 2,025,000 37,277,428 4.76 NTT Urban Development 23,440 22,780,937 2.91 Nippon Building Fund 1,923 16,510,556 2.11 Japan Real Estate Investment 1,753 14,595,426 1.87 Total for Japan 30.90 Australia Westfield Group 8,058,387 74,253,088 9.49 Stockland 6,096,842 15,846,528 2.03 GPT 29,178,751 11,576,757 1.48 CFS Retail Property Trust 8,187,479 10,938,513 1.40 Commonwealth Property Office Fund 4,654,103 3,127,795 0.40 Mirvac Group 1,797,110 1,571,530 0.20 Stockland ‘New’ 173,621 451,265 0.06 Total for Australia 15.06 China China Overseas Land & Investment (Hong Kong) (4) 16,234,080 37,704,473 4.82 China Resources Land (Cayman Islands) (4) 16,281,000 36,090,835 4.61 Guangzhou R&F Properties ‘H’ 10,471,900 23,510,801 3.00 Shimao Property Holdings (Cayman Islands) (4) 5,346,500 10,389,323 1.33 Total for China 13.76 Singapore CapitaLand 11,412,000 29,250,420 3.74 CWT Distribution 18,468,000 6,124,315 0.78 CapitaMall Trust 4,279,000 4,138,727 0.53 CapitaCommercial Trust 3,899,000 2,208,836 0.28 Suntec Real Estate Investment Trust 3,068,000 1,822,847 0.23 Total for Singapore 5.56 Total Investment Securities 757,988,958 96.87 Other Assets less Liabilities 24,529,678 3.13 Total Net Asset Value 782,518,636 100.00 (4) The country in brackets represents the country of incorporation of this security. % of net assets
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