morgan stanley prime property fund annual reportseaside beach club membership fees
morgan stanley prime property fund annual report
. $35,000,000 commitment to the Morgan Stanley Prime Property Fund in 2005; This investment is part of the 8% ERSRI policy allocation to inflation protection strategies. One basis point is equal to 1/100th of 1%, or 0.01%. As a global financial services firm, Morgan Stanley is committed to technological innovation. 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. Luxemburg B 29 192. Performance may be lower or higher than performance data quoted. The Funds income, expenses (other than class specific distribution fees) and realized and unrealized gains and losses are allocated proportionately each day based upon the relative net assets of each class. Additionally, the chairperson of the Audit Committee shall be entitled to an additional retainer of $10,000 per year. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Homestead Capital. For the year ended September 30, 2016, Class A and C shares incurred shareholder servicing fees of $783,216 and $358,645, respectively. Index performance does not represent actual Fund or portfolio performance. 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 graph shown above represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. It should not be assumed that any investment will be profitable or will equal the performance of the fund(s) or any securities or any sectors mentioned herein. Morgan Stanley Prime Property Fund is an open-end core fund with a focus on office, retail, multifamily, industrial, self storage and hotel properties located in major real estate markets throughout the United States. After further review and discussion, the Board determined that AHICs practices regarding brokerage and portfolio transactions were satisfactory. Class A shares commenced operations on June 30, 2014 and Class C and Class I shares commenced operations on August 10, 2015. The Adviser supervises the investments of the Fund pursuant to an Investment Advisory Agreement. The Funds Form N-Q may also be reviewed and copied at the SECs Public Reference Room in Washington, D.C., and information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. Please consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The Barclays Capital U.S. Newsletters . At a meeting of the Funds Board of Trustees on June 21, 2016 the Trustees approved the continuation of the Investment Advisory Agreement for a one-year term. Pursuant to Section 852(b)(3) of the Internal revenue Code, the Fund designated $1,881,291 as long-term capital gain distribution for the year ended September 30, 2016. Based upon all of the foregoing considerations, the Board of Trustees, including a majority of the Independent Trustees, approved the continuation of the Investment Sub-Advisory Agreement with CenterSquare. We utilize proprietary research to assess both real estate specific factors and broader equity market factors and may consider Environmental, Social and Governance (ESG) factors to calculate appropriate valuation metrics. Shareholders will be notified in writing of each quarterly repurchase offer and the date the repurchase offer ends (the Repurchase Request Deadline). Terms of Use. In considering the extent to which economies of scale would be realized as the Fund grows and whether the advisory fee levels reflect these economies of scale for benefit of the Funds investors, the Trustees considered that the Funds fee arrangements with AHIC and noted that the sub-advisory fee contained break points, which caused the Adviser to pay lower fees to AHIC based on lower asset levels. Morgan Stanley, founded in 1935, is a global financial services firm focused on securities underwriting, Core AEW Core Property Trust (1) Morgan Stanley Prime Property Fund . Morgan Stanley Prime Property Fund $1.1 billion Fund Redemption Queue Balances AEW Core Property Trust $160.0 million, 2.0% of $8.0 billion of Fund NAV Heitman America Real Estate Trust $1.2 billion, 11.5% of $10.4 billion of Fund NAV Morgan Stanley Prime Property Fund $0.0 million, of $34.1 billion of Fund NAV As of . Morgan Stanley Real Estate Prime Property Fund is a real estate core fund managed by Morgan Stanley Real Estate Advisors. Meet one of our Financial Advisors and see how we can help you. In the twelve-month period since our last annual report, we surpassed one billion dollars in assets under management. Please visit our Glossary page for fund related terms and definitions. The returns shown above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or redemption of Fund shares. Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer of the Global Balanced Risk Control (GBaR) Team, shares his macro thematic views on key market drivers. ^_g:L&NhK8F^3h$w#i!Efi8_2:,qEiwy el8byN4ly?9X t17%FL{WaTj^`MsAn yf]^}|*5GN-upxE4d: ePEfj>+r*x,sXjL]zEZgplC- [:6// DxD@ *(*otc-ABVafZW\jUU\u/0NF$-z'v'xMg; All requests for information regarding proxy votes, or policies and procedures, received by any Adviser employee, officer, or director should be forwarded to the CCO. Morningside Presbyterian Preschool. Browse through ourlatestearningsreleases, financial statements, presentations and webcasts. Item 5. The cost of purchases and proceeds from the sale of securities, other than short-term securities, for the year ended September 30, 2016 were as follows: Distributions are determined in accordance with federal income tax regulations, which differ from GAAP, and, therefore, may differ significantly in amount or character from net investment income and realized gains for financial reporting purposes. Stay on top of today's volatile markets with these timely resources. . The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets and other characteristics particular to the security. Previously, Mr. Propper was a Director at Lakemont Group, a boutique real estate investment banking and consulting firm. Trustees Consideration and Approval of continuation of Sub-Advisory Agreement with CenterSquare. These include commercial paper, open FX transactions, Treasury bills and other short-term instruments. %%EOF Info: 213-974-3211 | helpdesk@lacounty.gov. Fund Administration and Accounting Fees and Expenses. A description of the policies and procedures that the Fund uses to vote proxies relating to portfolio securities is available without charge upon request by calling toll-free 888-926-2688, or on the Securities and Exchange Commissions (SEC) website at http://www.sec.gov. Along with his or her recommendation, the Portfolio Manager will provide a written certification, provided in Exhibit A to this policy, that he is not subject to conflicts of interest regarding the Underlying Fund or the subject of the Proxy. 4.76%---- Cortland Growth And Income Fund, L.P. 4.71%-- . After reviewing AHICs and the Funds performance, and other factors, the Board concluded that the investment performance of AHIC was satisfactory. Randy I. Anderson Ph.D. CRE Dr. Anderson serves as Chief Investment Officer of our advisor and Portfolio Manager of Griffin Institutional Access Real Estate Fund. The memorandum provided information about the Advisers finances, personnel, services to the Fund, investment advice, fees, and compliance program. We value our commitment to diverse perspectives and a culture of inclusion across the firm. For the registrants last two fiscal year ended September 30, 2015 and September 30, 2016, the aggregate non-audit fees for services rendered to the registrant, the registrants investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant were $3,000 and $3,000, respectively. 31-Jan-2023, As of Performance is calculated net of fees. Individual Investors. Item 3. The Portfolio Manager is responsible for coordinating this process in a timely and appropriate manner and delivering the Proxy to the Underlying Fund prior to the deadline. gross of) investment advisory fees specifically they do not reflect a deduction for asset management fees. Following further discussion of the Funds current and projected asset levels, expectations for growth, and fee levels, the Board determined that the Funds fee arrangements were fair and reasonable in relation to the nature and quality of the services provided by the Adviser and that the Expense Limitation Agreement has provided savings for the benefit of the Funds investors. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliates Purchasers. . . The Trustees also noted that the Advisers fee was similar to other funds employing similar strategies to the Fund. Class C and Class I shares are offered at net asset value. Visit website Social Media Links Most Recent Annual Report MOST RECENT 2021 Annual Report and Form 10K View PDF View Form 10K (HTML) WAM is the weighted average maturity of the portfolio. Index performance assumes reinvestment of dividends but does not reflect any management fees, transaction costs or other expenses that would be incurred by a fund or portfolio, or brokerage commissions on transactions in fund shares. The Trustees noted that the Fund outperformed the S&P 500 Index and the Barclays U.S. 31-Jan-2023, As of Macro and thematic insights shaping the global investment landscape. Proprietary views on big ideas with the potential for far-reaching consequences. Mr. Propper holds a Masters of Business Administration and Bachelor of Science in Finance and Real Estate from the University of Central Florida. Indexes are not actively managed and do not reflect deduction for fees, expenses or taxes. The Fund is a closed-end interval fund that provides liquidity to shareholders through a quarterly repurchase offer. As of A portion of these securities are held as collateral for the outstanding Line(s) of Credit. Certifications required by Item 12(a)(2) of Form N-CSR are filed herewith as Exhibit 99.CERT. Past performance is not a guarantee of future results. Candice Todd is a Managing Director of Morgan Stanley and the CFO of Prime Property Fund, responsible for the Fund's capital structure and REIT compliance. During the period covered by this report, there were no amendments to the provisions of the code of ethics adopted in Item 2(a) of this report. 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. A timely analysis of market-changing events and their impact on the investment landscape. Griffin Capital Advisor along with CenterSquare Investment Management have designed a public market strategy in line with the objectives of the Fund with a focus on identifying public real estate securities whose current prices are below their intrinsic values. 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. NIC Audit Committee Report September 2020.pdf. Furthermore, you may obtain a copy of the filing on the SECs website at http://www.sec.gov. Material conflicts of interest may arise in situations that include, but are not limited to, when an Underlying Fund or an affiliate of such Underlying Fund has a relationship with the Fund or an affiliate of the Adviser and such Underlying Fund is soliciting proxies and failure to vote in a certain way may affect the Advisers relationship with such company and materially impact the Advisers business; or when a personal relationship between an Adviser officer and management of a company or other proponents of proxy proposals could impact the voting decision. Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Since our annual report, the Fund has observed its third anniversary and added two new funds managed by Morgan Stanley and Principal. For a description of a possible sales charge, please see (Note 1). The following is a summary of significant accounting policies followed by the Fund in preparation of its financial statements. Standard deviation measures the average deviations of a return series from its mean, and is often used as a measure of volatility/risk. The Trustees noted the Funds strong performance over the since inception, trailing one year, and year to date through May 31, 2016 periods. In general, proxy voting is an important right of shareholders and reasonable care and diligence must be undertaken to ensure that such rights are properly and timely exercised. When price quotations for certain securities are not readily available, or if the available quotations are not believed to be reflective of market value by the Adviser, those securities will be valued at fair value as determined in good faith by the Valuation Committee using procedures adopted by and under the supervision of the Funds Board of Trustees (the Trustees). Research We offer timely, integrated analysis of companies, sectors, markets and economies, helping clients with their most critical decisions. )E;CIa#939$N JC'IG8u+ zM7Dy(9 @0N%y0DH"%P"R*M6Fs{YLra]~{fvn~o? Spencer Propper Mr. Propper serves as Vice President of Griffin Capital Advisor, LLC and Associate Portfolio Manager of Griffin Institutional Access Real Estate Fund. We deliver active investment strategies across public and private markets and custom solutions to institutional and individual investors. The Distributor is an affiliate of the Administrator and the Transfer Agent. The Trustees also noted that CenterSquare seeks to invest across a diversified set of public real estate securities.
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