morgan stanley prime property fund annual report

A career at Morgan Stanley means belonging to an ideas-driven culture that embraces new perspectives to solve complex problems. At Morgan Stanley, we lead with exceptional ideas. Certain documentation available on this site may pertain to multiple sub-funds of the Morgan Stanley Investment Funds range. The valuation techniques used by the Fund to measure fair value during the year ended September 30, 2016 maximized the use of observable inputs and minimized the use of unobservable inputs. Information in relation to sustainability aspectsof theFund and thesummary of investor rights is availableat the aforementioned website. Past performance is not a reliable indicator of future results. 2. The Funds investment adviser is Griffin Capital Advisor, LLC (the Adviser). Prime Property Fund Asia Profile: Returns & Limited Partners | PitchBook Fund Administration and Accounting Fees and Expenses. In those instances, a portfolio manager may have an incentive to not favor the Fund over the Client Accounts. Registrants Financial Officer Code of Ethics is filed herewith as Exhibit 12(a)(1). The returns shown above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or redemption of Fund shares. Cipperman Compliance Services, LLC provides a Chief Compliance Officer to the Fund as well as related compliance services pursuant to a consulting agreement between Cipperman Compliance Services, LLC and the Fund. Spencer Propper serves as Vice President of Griffin Capital Advisor, LLC and Associate Portfolio Manager of the Fund since it commenced operations in 2014. Quarterly repurchases by the Fund of its shares typically will be funded from available cash or sales of portfolio securities. For further details, please see our Terms of Use. 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. The Adviser has sole discretion to vote proxies on behalf of the Non-discretionary Clients provided that, in each case, implementation of the outcome of the proxy vote would not cause the Non-discretionary Clients portfolio to be out of compliance with its Investment Guidelines. Certifications required by Item 12(a)(2) of Form N-CSR are filed herewith as Exhibit 99.CERT. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. Management has determined that there were no other subsequent events to report through the issuance of these financial statements. We deliver active investment strategies across public and private markets and custom solutions to institutional and individual investors. 2TheFTSE Nareit (National Association of Real Estate Investment Trusts) Equity REITs Index: is a free float-adjusted market-capitalization-weighted index of tax qualified REITs listed on the New York Stock Exchange, NYSE Amex and the NASDAQ National Market Systems. IC Berkeley Partners IV 30,000,000 3,087,000 26,913,000 0 n/a n/a JP Morgan Alternative Property Fund . %%EOF The Adviser has adopted procedures to implement the firms proxy voting policy and to monitor and ensure its policy is observed and amended or updated, as appropriate, which include the following: In the event Adviser employees, officers, or directors receive proxy materials on behalf of a Client, the employees, officers and directors will forward such materials to the appropriate Portfolio Manager; Such Portfolio Manager will determine which Client(s) hold the interest in an Underlying Fund to which the Proxy relates; The Portfolio Manager will (absent material conflicts of interest as described below in Material Conflicts of Interest) analyze the proxy materials and make a written recommendation to the voting members of the Investment Committee as to how to vote each Proxy. At Morgan Stanley, giving back is a core valuea central part of our culture globally. Morgan Stanley Real Estate Investing raises 700m - PERE These inputs are categorized in the following hierarchy under applicable financial accounting standards: Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Fund has the ability to access at the measurement date; Quoted prices which are not active, quoted prices for similar assets or liabilities in active markets or inputs other than quoted prices that are observable (either directly or indirectly) for substantially the full term of the asset or liability at the measurement date; and. Meet one of our Financial Advisors and see how we can help you. In the Media. No. The Fund completed a quarterly repurchase offer on November 7, 2016 which resulted in 1,010,099 of Fund shares being repurchased for $26,753,389. Greg is currently the Managing Director, Complex Manager of the Los Angeles Complex for Morgan Stanley. The continued growth has allowed the portfolio to further diversify by property type, geography and fund manager. The fund targets investments in the retail, multi-family, office and industrials properties. Morgan Stanley - AnnualReports.com A portion of these securities are held as collateral for the outstanding Line(s) of Credit. 31-Jan-2023, 2023 Morningstar. Select a trending topic or type your . From volatility and geopolitics to economic trends and investment outlooks, stay informed on the key developments shaping today's markets. ^_g:L&NhK8F^3h$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; The Trustees noted that the Fund outperformed the S&P 500 Index and the Barclays U.S. GRIFX Performance & Stats | Apollo Diversified Real Estt I - YCharts 2020 Council Agendas & Meetings | Nebraska Investment Council Stay abreast of the latest trends and developments. 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. Investor Relations | Morgan Stanley The Trustees also reviewed a memorandum from the Funds legal counsel that summarized the fiduciary duties and responsibilities of the Board of Trustees in reviewing and approving the Investment Advisory Agreement, including the types of information and factors that should be considered in order to make an informed decision. It also brings the total number of private real estate holdings to 17. Following further discussion of the Funds current and projected asset levels, expectations for growth, and levels of fees, theBoard determined that the Funds fee arrangements were fair and reasonable in relation to the nature and quality of the services provided by AHIC. Total returns would have been lower had certain expenses not been waived during the period. Morgan Stanley Prime Property Fund. Core AEW Core Property Trust (1) Morgan Stanley Prime Property Fund . 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. Last Annual Report Date: . We leverage the full resources of our firm to help individuals, families and institutions reach their financial goals. TheEurope/Asia and South Africa category (EAA)includes funds domiciled in European markets, major cross-border Asian markets where material numbers of European UCITS funds are available (principally Hong Kong, Singapore and Taiwan), South Africa, and selected other Asian and African markets where Morningstar believes it is of benefit to investors for the funds to be included in the EAA classification system. Home Page | Municipal Employees Retirement System of Louisiana Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals. The following is a summary of significant accounting policies followed by the Fund in preparation of its financial statements. Kelly Cobb - Executive Director, Alternative Investments - LinkedIn There are additional risks associated with investing in real estate. The S&P 500 is an index based on market cap of the 500 largest companies having stock listed on the NYSE or NASDAQ. All Rights Reserved. Aggregate Bond Index is a market value-weighted index of investment grade fixed-rated debt issues, including government, corporate, asset-backed and mortgage-backed securities with a maturity of one year or more. Effective February 1, 2016 each Trustee who is not affiliated with the Fund or the Adviser received a quarterly fee of $5,000, as well as reimbursement for any reasonable expenses incurred attending the meetings, and $500 per each special telephonic meeting. Kansas PERS puts $100m into core open-ended US property fund Effective November 16, 2016, Class M Shares of the Fund commenced operations. Morgan Stanley Real Estate's Prime Property Fund Forms Joint Venture All rights reserved. The market value of PRIME assets, including PRIME's shareof joint venture assets, before debt. CenterSquare Investment Management has been managing real estate securities portfolios since 1995 across multiple strategies and market cycles. PDF Employees' Retirement System of Rhode Island Correlation is a statistical measure of how two securities move in relation to each other. The Barclays Capital U.S. We help people, businesses and institutions build, preserve and manage wealth so they can pursue their financial goals. We are pleased to present the Griffin Institutional Access Real Estate Funds (the Fund) annual report. 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. CenterSquare Investment Management, Inc. (CenterSquare) provides advisory services to the Fund by managing the portion of the Funds assets allocated to public real estate related securities pursuant to an Investment Sub-Advisory Agreement. 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. As of the end of the period covered by this report, the registrant has adopted a code of ethics that applies to the registrants principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. 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. Win whats next. Investors in the Fund should understand that the net asset value (NAV) of the Fund will fluctuate, which may result in a loss of the principal amount invested. Past performance is not a reliable indicator of future results. $250 million to the Morgan Stanley Prime Property Fund (MSPPF or the Fund). Liability Driven Investing (LDI) Customized solutions structured to fit your LDI needs. Underpinning all that we do are five core values. Allocation, Sector, and Geographic Diversification are subject to change. The fund is located in New York, New York and invests in Northern California, Southern California, Chicago, South Florida, Chicago, Washington D.C., Boston and New York across the United States. As of The difference between book basis and tax basis net unrealized appreciation is primarily attributable to the investments in partnerships, wash sales and certain other investments. * Additional Information on Investments in Private Investment Funds: Written notice required for redemption, no minimum timeline required. 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. As of September 30, 2016, net unrealized appreciation/(depreciation) of investments based on the federal tax cost was as follows: Gross Appreciation (excess of value over tax cost), Gross Depreciation (excess of tax cost over value), Cost of Investments for Income Tax Purposes. Notes. We believe that our audits provide a reasonable basis for our opinion. The Fund has entered into secured bank lines of credit through BNP Paribas Prime Brokerage International, Ltd. (BNP) and Credit Suisse (Credit Suisse) (collectively the Banks) for the purpose of investment purchases subject to the limitations of the 1940 Act for borrowings. Healthcare Trust of America, Inc., Class A, 1.888.926.2688 | www.griffincapital.com, TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $1,122,109,673), TOTAL INVESTMENTS (100.16%) (Cost $1,122,109,673), Liabilities in Excess of Other Assets (-0.16%). Fund Documents | J.P. Morgan Asset Management Includes all wholly owned debt and PRIME's proportionate share of joint venture debt. The portion of distributions paid not attributable to net investment income or net realized gains on investments, if any, is distributed from the Funds assets and is treated by shareholders as a nontaxable distribution (Return of Capital) for tax purposes. In considering the costs of the services to be provided and profits to be realized by CenterSquare and its affiliates from the relationship with the Fund, the Trustees evaluated CenterSquares staffing, personnel, and methods of operating; the education and experience of CenterSquares personnel; CenterSquares compliance programs, policies, and procedures; the financial condition of CenterSquare; the level of commitment to the Fund and CenterSquare by the principals of CenterSquare; the current and projected asset levels of the Fund; and the overall expenses of the Fund, including the nature and frequency of advisory fee payments.

Shotgun Wishbone Offense, Articles M