morgan stanley prime property fund annual reportshriner funeral ritual

Based on an evaluation of the registrants disclosure controls and procedures (as defined in Rule 30a-3(c) under the 1940 Act), the registrants principal executive officer and principal financial officer have concluded that the registrants disclosure controls and procedures are effective as of a date within 90 days of the filing date of this report. Total returns would have been lower had certain expenses not been waived during the period. In accordance with Subtopic 820-10, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. It includes fees paid for investment management (Management Fee), trustee/custodian, and administration charges.TheMinimum Initial Investment/Minimum Subsequent Investmentamounts may be in US Dollars (or the Euro Yen or Sterling equivalent of the US Dollar amount).For more information please see the Charges and Expenses section of the prospectus. Dr. Anderson has primary responsibility for management of the Funds investment portfolio and has served the Fund in this capacity since it commenced operations in 2014. a number of leadership roles at Nomura, Lehman Brothers and Morgan Stanley. These factors contributed to positive net returns with low volatility and low correlation to the broader markets. Sources of distributions to shareholders for tax reporting purposes will depend upon the Funds investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. For the year ended September 30, 2016, the following reclassifications, which had no impact on results of operations or net assets, were recorded to reflect tax character. The unused amount under the Credit Suisse arrangement bears interest at 90 basis points. A Fund can have distributions from net investment income and realized capital gains in years in which it incurs an economic loss due to unrealized losses not being recognized for tax purposes. Implement policies and procedures, set and approve annual budget. Additionally, Mr. Propper serves as Vice President, Product Development of Griffin Capital Corporation, a position he has held since joining Griffin Capital Corporation in 2014. The Trustees noted that CenterSquare assists the Adviser in seeking to achieve the Funds investment objective to generate a balanced return comprised of current income and capital appreciation with moderate volatility and low correlation to the broader markets by pursuing strategically investing across private institutional real estate investment funds as well as a diversified set of public real estate securities. The Trustees also noted that the Advisers fee was similar to other funds employing similar strategies to the Fund. The Fund is considered an investment company for financial reporting purposes under GAAP. We live that commitment through long-lasting partnerships, community-based delivery and engaging our best assetMorgan Stanley employees. We have strategically shifted the portfolio composition in favor of managers whom we believe are best poised to deliver outsized growth of key operating metrics. NCREIF will calculate the overall aggregated Index return. Shareholders should note that return of capital will reduce the tax basis of their shares and potentially increase the taxable gain, if any, upon disposition of their shares. GRIFX Performance & Stats | Apollo Diversified Real Estt I - YCharts Last Annual Report Date: . The Fund's Class I shares commenced operations on August 10, 2015. Annual net returns are provided in the Performance Notes. Please note that not all sub-funds are available in all jurisdictions and sub-funds are not available to persons resident in jurisdictions where such distribution or availability would be contrary to local laws or regulations. This proposal represents a new relationship with Morgan Stanley on behalf of the OPERF real estate portfolio. 2007. Additionally, the chairperson of the Audit Committee shall be entitled to an additional retainer of $10,000 per year. Following further consideration and discussion of the foregoing, the Board concluded that the fee to be paid to the Adviser by the Fund was fair and reasonable in relation to the nature and quality of the services provided by the Adviser and that they reflected charges that were within a range of what could have been negotiated at arms length. The Trustees reviewed the balance sheet of the Adviser and discussed the financial stability and profitability of the firm. As of October 3, 2016 the private securities represent over $139 billion of real estate and 2,196 investments diversified by sector, geography and manager. For 87 years, weve had a passion for whats possible. Morgan Stanley Prime Property Fund. It is the current yield of Dr. Anderson and Mr. Propper receive a salary, retirement plan benefits and performance-based bonus from the Adviser. If a material conflict of interest exists for the Adviser, the Legal Department will determine how to vote the Proxy. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Repurchase Offer Amount will be no less than 5% and no more than 25% of the total number of shares outstanding on the Repurchase Request Deadline. He started his career in 1979 with Smith Barney as a Financial Advisor and in the 1980's and 1990's, managed offices in Atlanta GA and Los Angeles. Stay on top of today's volatile markets with these timely resources. The Trustees noted that, while the management fee remains the same at all asset levels, the Funds shareholders continue to benefit from the Funds expense limitation arrangement until the Funds assets grew to a level where the Funds expenses fell below the cap set by the arrangement and the Adviser begins receiving its full fee. Returns may increase or decrease as a result of currency fluctuations. The Fund's Class A shares commenced operations on June 30, 2014. All Rights Reserved. The global presence that Morgan Stanley maintains is key to our clients' success, giving us keen insight across regions and markets, and allowing us to make a difference around the world. A correlation ranges from-1 to 1. The Portfolio Manager will provide the CCO with a completed Exhibit A, any supporting documentation and the executed Proxy. Homestead Capital. The performance data quoted above represents past performance. Our culture of access and inclusion has built our legacy and shapes our future, helping to strengthen our business and bring value to clients. After further review and discussion, the Board determined that CenterSquares practices regarding brokerage and portfolio transactions were satisfactory. %%EOF Historic figures are only a guide and may not be a reliable indicator of what may happen in the future. PitchBook helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. PDF Prime Property Fund Discussion Materials - WordPress.com ALPS Fund Services, Inc. serves as the Funds administrator and accounting agent (the Administrator) and receives customary fees from the Fund for such services. As of September 30, 2016, the Fund had $1,066,237,965 of the private and public securities pledged as collateral for its lines of credit. The term of office for each Trustee and officer listed above will continue indefinitely. Kansas PERS puts $100m into core open-ended US property fund Class C shares may be subject to a 1.00% contingent deferred sales charge on shares redeemed during the first 365 days after their purchase. Terms of Use. Following further consideration and discussion, the Board indicated that the Advisers standards and practices relating to the identification and mitigation of potential conflicts of interests were satisfactory. Hello! gross of) investment advisory fees specifically they do not reflect a deduction for asset management fees. Prior to joining Morgan Stanley in November 2003, andice The portfolio management team continues to work diligently to determine the optimal mix of private and public real estate securities that maximize risk-adjusted returns for our shareholders. The Trustees also considered potential benefits for the Adviser in managing the Fund, including promotion of the Advisers name, the ability for the Adviser to place small accounts into the Fund, and the potential for the Adviser to generate soft dollars from Fund trades that may benefit the Advisers other clients. Because most, if not all, of the Underlying Funds are privately placed, they generally do not issue proxies. Item 7. The Funds private holdings include: Formerly known as the Cornerstone Patriot Fund. Morgan Stanley Prime Property Fund Llc. The Funds Private Allocation Sub-Advisor, Aon Hewitt Investment Consulting, an Aon Company, provides investment consulting services to over 480 clients in North America with total client assets worldwide of approximately $4 trillion, including more than $3 trillion in the U.S. as of December 31, 2015. In considering whether to approve the Investment Sub-Advisory Agreement, the Trustees reviewed and considered the information they deemed reasonably necessary, including the following material factors: (i) the nature, extent, and quality of the services provided by CenterSquare; (ii) theinvestment performance of the Fund and CenterSquare; (iii) the costs of the services provided and profits realized by CenterSquare and its affiliates from the relationship with the Fund; (iv) the extent to which economies of scale would be realized as the Fund grows and whether advisory fee levels reflect those economies of scale for the benefit of the Funds investors; (v) CenterSquares practices regarding brokerage and portfolio transactions; and (vi) CenterSquares practices regarding possible conflicts of interest. After reviewing AHICs and the Funds performance, and other factors, the Board concluded that the investment performance of AHIC was satisfactory. The Trustees also considered potential benefits for CenterSquare in managing the Fund, including promotion of CenterSquare name, the ability for CenterSquare to place small accounts into the Fund, and the potential for CenterSquare to generate soft dollars from Fund trades that may benefit CenterSquares other clients. SEC.gov | HOME A $1B fund might provide more than $10M in annual . The investment objective of the Fund is to generate a return comprised of both current income and capital appreciation with moderate volatility and low correlation to the broader markets. Morgan Stanley is a global financial services firm and a market leader in securities, asset management and credit services. A portion of these securities are held as collateral for the outstanding Line(s) of Credit. The Funds investment adviser has contractually agreed to waive its fees and to pay or absorb the ordinary annual operating expenses of the Fund (including offering expenses, but excluding taxes, interest, brokerage commissions, acquired fund fees and expenses and extraordinary expenses), to the extent that they exceed 1.91%, 2.66% and 1.66% per annum of the Funds average daily net assets attributable to Class A, Class C and Class I shares, respectively. In considering the Advisers practices regarding brokerage and portfolio transactions, the Trustees reviewed the Advisers standards, and performance in utilizing those standards, for seeking best execution for Fund portfolio transactions. Inflation Protection | Rhode Island State Investment Information Center The Market Monitor series includes a wide array of market charts and views to guide your investing discussions. The Griffin Institutional Access Real Estate Fund (the Fund) is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as a non-diversified, closed-end management investment company. 3. Our monthly Global Equity Observer shares our thoughts on world events as seen through the lens of our high quality investment process. Trustees Consideration and Approval of continuation of Sub-Advisory Agreement with CenterSquare. 2014, Fund Controller, ALPS Fund Services, Inc., 2011, Vice President and Assistant Secretary Since 2015, Vice President and General Counsel Securities, Griffin Capital Corporation, 2014, Vice President and Senior Counsel, ALPS Fund Services, Inc. 2015. The Trustees noted the Funds success in gathering assets and that its assets under management as of May 31, 2016 exceeded all but one Fund in its peer group. From volatility and geopolitics to economic trends and investment outlooks, stay informed on the key developments shaping today's markets. The largest outstanding borrowing during the year ended September 30, 2016 relating to BNP was $65,000,000. Since our annual report, the Fund has observed its third anniversary and added two new funds managed by Morgan Stanley and Principal. PRIME, a $6.3 billion diversified core real estate fund, is managed by Morgan Stanley Real Estate. Securities Lending Annual Report.pdf. Accordingly, WAL reflects how a portfolio would react to deteriorating credit (widening spreads) or tightening liquidity conditions. Ubs Triton Property Fund Annual Report Our Financial Over the past twelve months and through careful portfolio composition, we reduced our exposure to the multi-family sector by 603 basis points and increased our office exposure by 482 basis points. 1A cap rate is the current annual income of the property divided by an estimate of the current value of the property . WAM is the weighted average maturity of the portfolio. )E;CIa#939$N JC'IG8u+ zM7Dy(9 @0N%y0DH"%P"R*M6Fs{YLra]~{fvn~o? Standard deviation measures the average deviations of a return series from its mean, and is often used as a measure of volatility/risk. The tax character of the Funds distributions, in isolation, does not reveal much information about whether the distributions are supported by the Funds returns. The Funds most recent quarterly distribution payment (September 2016) represented an annualized 5.22% rate. 03-Mar-2023, As of A comprehensive assessment of noteworthy trends shaping the global investment risk environment and our portfolio allocations. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. It is important that users read the Terms of Use before proceeding as it explains certain legal and regulatory restrictions applicable to the dissemination of information pertaining to Morgan Stanley Investment Management's investment products. Additionally, at the Lakemont Group, Mr. Propper was responsible for overseeing projects for a variety of clients including pension funds, private equity firms and publicly traded real estate companies and specialized in structured finance, market analysis and strategic due diligence. Learn why 2023 has exciting opportunities for the real estate market. Total returns would have been lower had certain expenses not been waived during the period. The WAM calculation utilizes the interest-rate reset date, rather than a security's stated final maturity, for variable- and floating- rate securities. The business and affairs of the Fund are managed under the direction of the Trustees. 31-Jan-2023, As of The sources for all performance and Index data is Morgan Stanley Investment Management. Annual Report Jul 08, 2008. . Contact Information Fund Manager Morgan Stanley Fund Manager Website www.morganstanley.com Fund Category Real Assets - Real Estate Native Currency USD Fund Manager's Location 18th Floor, Tower 2, One World Center Following further consideration and discussion of the foregoing, the Board concluded that the fees to be paid to AHIC by the Fund were fair and reasonable in relation to the nature and quality of the services provided by AHIC and that they reflected charges that were within a range of what could have been negotiated at arms length.

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