Morgan Stanley Investment Funds - stockselection

More documents

Recommendations

Info

83 Morgan Stanley Investment Funds 30 June 2009 US Bond Fund INVESTMENT AIMS* To provide an attractive rate of return, measured in US Dollars, through investment primarily in US Dollar denominated fixed income securities issued by US governments, US agencies and corporations domiciled or exercising the predominant part of their economic activity in the US. The Fund may also invest, on an ancillary basis, in fixed income securities denominated in currencies other than US Dollar, including emerging markets fixed income securities. * Investment aim effective from 18 April 2008. Please refer to the full prospectus for the Fund’s investment objective and policy. STATEMENT OF INVESTMENTS 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 Corporate Bonds Nominal in US dollars unless specified Market value % of net assets United States of America Federal National Mortgage Association nts 2.75% /2014 2,721,000 2,713,790 6.12 Federal Home Loan Mortgage nts 1.75% /2012 500,000 496,975 1.13 General Electric Capital sr unsecur 5.625% /2018 410,000 388,047 0.88 HSBC Finance sr unsecur 6.75% /2011 350,000 359,648 0.82 Bear Stearns sr unsecur 6.4% /2017 295,000 295,062 0.67 Goldman Sachs Group sr unsecur 6.15% /2018 295,000 287,688 0.66 AT&T sr unsecur 6.3% /2038 260,000 253,943 0.58 AIG SunAmerica Global Financing VI sr nts sr secured Ser144A priv plmt 6.3% /2011 250,000 234,902 0.54 Pfizer sr unsecur 6.2% /2019 195,000 212,539 0.49 Federal Home Loan Mortgage nts 4.875% /2018 190,000 203,642 0.45 Wells Fargo & Co sr unsecur 5.625% /2017 200,000 197,106 0.44 Merrill Lynch & Co nts SerMTN 6.875% /2018 190,000 175,515 0.40 Sovereign Bancorp sr unsecur 0.842% /2010 (3) 190,000 175,322 0.39 Comcast co gtd 5.7% /2018 170,000 170,050 0.38 Federal Home Loan Mortgage nts 5.5% /2017 150,000 167,753 0.38 Merck & Co sr unsecur 5% /2019 160,000 161,360 0.36 Verizon Communications sr unsecur 5.5% /2018 160,000 160,367 0.36 Bank of America sr unsecur 5.75% /2017 170,000 152,320 0.34 International Business Machines sr unsecur 8% /2038 100,000 131,416 0.30 Virginia Electric and Power sr unsecur 8.875% /2038 95,000 129,591 0.29 Berkshire Hathaway Finance co gtd 5.4% /2018 120,000 123,882 0.28 JPMorgan Chase & Co sr unsecur 6.3% /2019 115,000 115,692 0.26 Citigroup sr unsecur 5.875% /2037 145,000 113,230 0.25 Wal-Mart Stores sr unsecur 4.125% /2019 115,000 111,707 0.25 News America co gtd Ser144A priv plmt 6.9% /2019 100,000 102,921 0.23 CenterPoint Energy Resources sr unsecur 6.25% /2037 135,000 101,884 0.23 Amgen sr unsecur 5.85% /2017 95,000 101,769 0.23 ConAgra Foods sr unsecur 8.25% /2030 90,000 100,655 0.23 Home Depot sr unsecur 5.4% /2016 100,000 99,045 0.22 Novartis Capital co gtd 4.125% /2014 95,000 97,967 0.22 Bank of New York Mellon sr unsecur SerMTNG 4.5% /2013 95,000 97,882 0.22 Union Pacific sr unsecur 7.875% /2019 85,000 97,210 0.22 General Mills sr unsecur 5.65% /2019 90,000 94,179 0.21 Chevron sr unsecur 4.95% /2019 90,000 93,257 0.21 Time Warner Cable co gtd 6.75% /2039 95,000 91,881 0.21 Bank of America sr nts 7.625% /2019 90,000 89,875 0.20 American Express Credit sr unsecur SerMTNC 7.3% /2013 85,000 88,718 0.20 Wal-Mart Stores sr unsecur 4.25% /2013 85,000 88,280 0.20 Kraft Foods sr unsecur 6.125% /2018 85,000 87,916 0.20 XTO Energy sr unsecur 5.5% /2018 85,000 85,625 0.19 Anheuser-Busch InBev Worldwide co gtd Ser144A priv plmt 7.2% /2014 80,000 85,550 0.19 Medco Health Solutions sr unsecur 7.125% /2018 80,000 84,551 0.19 Kinder Morgan Energy Partners sr unsecur 5.95% /2018 85,000 83,507 0.19 Philip Morris International sr unsecur 5.65% /2018 80,000 83,361 0.19 Verizon Communications sr unsecur 6.35% /2019 80,000 83,045 0.19 Progress Energy sr unsecur 7.05% /2019 75,000 82,815 0.19 Walgreen sr unsecur 5.25% /2019 80,000 82,601 0.19 Prudential Financial sr unsecur SerMTND 6.625% /2037 95,000 82,549 0.19 CVS Pass-Through Trust certs Ser144A priv plmt 6.036% /2028 94,107 80,730 0.18 ConocoPhillips co gtd 5.2% /2018 80,000 80,514 0.18 UnitedHealth Group sr unsecur 6% /2018 80,000 77,053 0.17
US 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 US dollars. Investments Corporate Bonds (continued) Nominal in US dollars unless specified Market value % of net assets United States of America (continued) Enterprise Products Operating co gtd 6.5% /2019 75,000 76,457 0.17 Farmers Exchange Capital debentures Ser144A priv plmt 7.05% /2028 110,000 76,309 0.17 MetLife sr unsecur SerA 6.817% /2018 75,000 75,799 0.17 Time Warner Cable co gtd 8.75% /2019 65,000 75,520 0.17 Public Service Company of Colorado 1st Mortgage 6.5% /2038 65,000 74,012 0.17 Amgen sr nts 5.7% /2019 70,000 73,904 0.17 Ohio Edison sr unsecur 6.4% /2016 70,000 71,719 0.16 Coca-Cola sr unsecur 4.875% /2019 70,000 71,632 0.16 US Bancorp sr nts 4.2% /2014 70,000 70,963 0.16 Cisco Systems sr unsecur 4.95% /2019 70,000 70,044 0.16 Devon Financing co gtd 7.875% /2031 (Canada) (4) 60,000 69,783 0.16 PPL Energy Supply sr unsecur 6.3% /2013 65,000 68,287 0.15 Plains All American Pipeline / PAA Finance co gtd 6.7% /2036 75,000 67,819 0.15 BB&T sr unsecur 6.85% /2019 65,000 67,519 0.15 Illinois St Toll 6.184% /2034 65,000 66,260 0.15 Biogen Idec sr unsecur 6.875% /2018 65,000 66,093 0.15 Emerson Electric sr unsecur 4.875% /2019 65,000 65,825 0.15 Hewlett-Packard sr unsecur 4.75% /2014 60,000 62,495 0.14 Detroit Edison sr secured 6.125% /2010 60,000 62,155 0.14 Yum! Brands sr unsecur 6.25% /2018 60,000 61,963 0.14 Nisource Finance co gtd 6.8% /2019 65,000 61,511 0.14 PNC Funding co gtd 6.7% /2019 60,000 61,355 0.14 NYSE Euronext sr unsecur 4.8% /2013 60,000 61,218 0.14 Alabama Power sr unsecur 5.8% /2013 55,000 59,872 0.13 Archer-Daniels-Midland sr unsecur 5.45% /2018 55,000 57,527 0.13 Verizon Communications sr unsecur 8.95% /2039 45,000 57,198 0.13 Kraft Foods sr unsecur 6.125% /2018 55,000 56,934 0.13 Kla-Tencor sr unsecur 6.9% /2018 70,000 56,398 0.13 Altria Group co gtd 9.25% /2019 50,000 55,849 0.13 Peco Energy 1st reference mortgage 5.35% /2018 55,000 55,781 0.13 Ohio Power sr unsecur SerK 6% /2016 55,000 54,323 0.12 FPL Group Capital co gtd 6% /2019 (3) 50,000 54,147 0.12 EI Du Pont de Nemours & Co sr unsecur 6% /2018 50,000 53,472 0.12 Verizon Wireless Capital sr unsecur Ser144A priv plmt 5.55% /2014 50,000 53,170 0.12 Comcast co gtd 6.5% /2017 50,000 53,017 0.12 Texas Eastern Transmission sr unsecur 7% /2032 50,000 52,747 0.12 General Mills sr unsecur 5.25% /2013 50,000 52,298 0.12 Bank of New York Mellon sr unsecur 5.125% /2013 50,000 52,201 0.12 Honeywell International sr unsecur 5.3% /2018 50,000 52,053 0.12 Questar Market Resources sr unsecur 6.8% /2018 55,000 52,003 0.12 Harley-Davidson Funding sr nts Ser144A priv plmt 6.8% /2018 60,000 51,935 0.12 Union Electric sr secured 6.7% /2019 50,000 51,865 0.12 John Deere Capital sr nts SerMTN 5.75% /2018 50,000 51,750 0.12 Apache nts 6.9% /2018 45,000 51,429 0.12 Travelers Cos sr unsecur 5.8% /2018 50,000 51,373 0.12 Time Warner Cable co gtd 8.25% /2019 45,000 51,124 0.12 ACE INA Holdings co gtd 5.9% /2019 50,000 50,323 0.11 Time Warner co gtd 5.875% /2016 50,000 49,916 0.11 Boeing sr unsecur 6% /2019 45,000 48,530 0.11 Daimler Finance North America co gtd 7.3% /2012 45,000 46,732 0.11 Monsanto sr unsecur 5.125% /2018 45,000 46,503 0.10 Pripal Financial Group sr unsecur 8.875% /2019 45,000 46,296 0.10 Norfolk Southern sr unsecur Ser144A priv plmt 5.75% /2016 45,000 46,250 0.10 Parker Hannifin sr unsecur SerMTNA 5.5% /2018 45,000 46,196 0.10 Kroger co gtd 5% /2013 45,000 46,118 0.10 Public Service Electric & Gas secured SerMTNB 5% /2013 45,000 46,070 0.10 Investments Corporate Bonds (continued) Morgan Stanley Investment Funds 30 June 2009 84 Nominal in US dollars unless specified Market value % of net assets United States of America (continued) Xerox sr unsecur 6.35% /2018 50,000 44,397 0.10 Yum! Brands sr unsecur 8.875% /2011 40,000 43,414 0.10 Allstate sr unsecur 7.45% /2019 40,000 43,236 0.10 Delhaize America unsecur co gtd 9% /2031 35,000 42,602 0.10 Viacom sr unsecur 6.875% /2036 45,000 41,594 0.09 Travelers sr unsecur 5.9% /2019 40,000 41,381 0.09 JPMorgan Chase & Co sr unsecur 4.75% /2013 40,000 40,620 0.09 Ace INA Holdings co gtd 5.6% /2015 40,000 40,603 0.09 Corning sr unsecur 6.625% /2019 40,000 40,308 0.09 Microsoft sr unsecur 4.2% /2019 40,000 39,079 0.09 Daimler Finance North America co gtd 8.5% /2031 35,000 36,912 0.08 Procter & Gamble sr unsecur 4.6% /2014 35,000 36,708 0.08 Hewlett-Packard sr unsecur 5.5% /2018 35,000 36,609 0.08 CVS Pass-Through Trust pass through certs Ser144A priv plmt 8.353% /2031 35,000 34,976 0.08 Citigroup sr unsecur 6.125% /2018 40,000 34,893 0.08 ConocoPhillips co gtd 5.75% /2019 30,000 31,550 0.07 Bunge Finance co gtd 8.5% /2019 30,000 31,245 0.07 Baxter International sr unsecur 4.625% /2015 30,000 30,851 0.07 Caterpillar Financial Services sr unsecur SerMTNF 4.9% /2013 30,000 30,829 0.07 Simon Property Group sr unsecur 6.75% /2014 30,000 30,444 0.07 Cisco Systems nts 5.9% /2039 30,000 29,923 0.07 Citigroup sr unsecur 6.125% /2017 30,000 26,263 0.06 American Express sr unsecur 8.125% /2019 25,000 26,183 0.06 Capital One Financial sr nts 7.375% /2014 25,000 25,743 0.06 McDonald’s sr unsecur SerMTNI 5% /2019 25,000 25,646 0.06 State Street sr unsecur 4.3% /2014 25,000 25,205 0.06 Kroger co gtd 6.4% /2017 20,000 21,454 0.05 MetLife nts 7.717% /2019 20,000 21,343 0.05 Chubb sr unsecur 5.75% /2018 20,000 20,752 0.05 Union Pacific sr unsecur 6.125% /2020 20,000 20,590 0.05 WellPoint sr unsecur 7% /2019 20,000 20,585 0.05 MetLife sr unsecur 6.75% /2016 20,000 20,408 0.05 Emerson Electric sr unsecur 5% /2019 20,000 20,207 0.05 Nisource Finance co gtd 1.231% 23/11/2009 (3) 20,000 19,842 0.04 Kraft Foods sr unsecur 6.75% /2014 15,000 16,457 0.04 Bristol-Myers Squibb sr unsecur 5.45% /2018 15,000 15,955 0.04 Kraft Foods sr unsecur 7% /2037 15,000 15,891 0.04 Pacificorp 1st motgage 5.5% /2019 15,000 15,823 0.04 Wyeth sr unsecur 5.45% /2017 15,000 15,565 0.04 Oracle sr unsecur 5.75% /2018 10,000 10,640 0.02 Time Warner unsecur co gtd 7.7% /2032 5,000 5,007 0.01 Anheuser-Busch InBev Worldwide co gtd Ser144A priv plmt 5.375% /2014 5,000 4,977 0.01 Total for United States of America 32.46 United Kingdom Systems 2001 Asset Trust ‘G’ co gtd Ser144A priv plmt 6.664% /2013 (Cayman Islands) (4) 109,322 109,322 0.25 Barclays Bank sr unsecur 6.75% /2019 105,000 104,096 0.24 WPP Finance co gtd 8% /2014 100,000 102,134 0.23 HBOS subord nts Ser144A priv plmt 6.75% /2018 130,000 99,579 0.22 Pearson Dollar Finance Two co gtd Ser144A priv plmt 6.25% /2018 100,000 96,269 0.22 Nationwide Building Society sr unsecur Ser144A priv plmt 4.25% /2010 95,000 94,031 0.21 BP Capital Markets co gtd 4.75% /2019 90,000 89,714 0.20 Diageo Capital co gtd 7.375% /2014 75,000 85,246 0.19 BAT International Finance co gtd Ser144A priv plmt 9.5% /2018 65,000 76,674 0.17 Catlin Insurance sr nts Ser144A priv plmt 7.249% perpetual (Bermuda) (3) (4) 125,000 70,085 0.16 AstraZeneca sr unsecur 5.9% /2017 60,000 64,413 0.14 GlaxoSmithKline Capital co gtd 5.65% /2018 (United States of America) (4) 50,000 52,884 0.12 Vodafone Group sr unsecur 5.625% /2017 50,000 50,751 0.11 BP Capital Markets co gtd 3.875% /2015 40,000 40,503 0.09 Total for United Kingdom 2.55
Page 1:
INVESTMENT MANAGEMENT Morgan Stanle
Page 4 and 5:
1 Morgan Stanley Investment Funds 3
Page 6 and 7:
Page 8 and 9:
Page 10 and 11:
Page 12 and 13:
Page 14 and 15:
11 Morgan Stanley Investment Funds
Page 16 and 17:
Page 18 and 19:
Page 20 and 21:
Page 22 and 23:
Page 24 and 25:
Page 26 and 27:
Page 28 and 29:
Page 30 and 31:
Page 32 and 33:
Page 34 and 35:
Page 36 and 37: 33 Morgan Stanley Investment Funds
Page 136 and 137:
Page 138 and 139:
Page 140 and 141:
Page 142 and 143:
Page 144 and 145:
Page 146 and 147:
Page 148 and 149:
Page 150 and 151:
Page 152 and 153:
Page 154 and 155:
Page 156 and 157:
Page 158 and 159:
Page 160 and 161:
Page 162 and 163:
Page 164 and 165:
Page 166 and 167:
Page 168 and 169:
Page 170 and 171:
Page 172 and 173:
Page 174 and 175:
Page 176 and 177:
Page 178 and 179:
Page 180 and 181:
Page 182 and 183:
Page 184 and 185:
Page 186 and 187:
Page 188 and 189:
Page 190 and 191:
Page 192 and 193:
Page 196:
www.morganstanleyinvestmentfunds.co
show all

Morgan Stanley Investment Funds - stockselection

Create successful ePaper yourself

Delete template?

Save as template?