PIA Morgan Stanley US Property USD Ser B - not available for new business or switches

Essentials Portfolio Analysis Background Data Investment Risk Performance View PDF Factsheet
Portfolio data accurate as at:

Performance

Discrete performance - to last month end

28/02/19
to
29/02/20
29/02/20
to
28/02/21
28/02/21
to
28/02/22
28/02/22
to
28/02/23
28/02/23
to
29/02/24
Fund -1.3% -8.6% 16.0% -14.3% 2.1%
Sector 1.4% 0.9% 6.3% -17.9% -1.9%
Rank 32/38 33/38 1/41 10/41 1/41
Quartile 4 4 1 1 1

Annualised performance

Annualised
3 Years to
29/02/24
5 Years to
29/02/24
10 Years to
29/02/24
Fund 0.5% -1.7% 1.3%
Sector -5.0% -2.6% -0.3%
Rank 1/41 19/38 12/33
Quartile 1 2 2

Top 10 Holdings

Stock % Weight
PROLOGIS INC 9.66
EQUINIX 7.89
WELLTOWER 6.65
PUBLIC STORAGE 5.11
DIGITAL REALTY TRUST 4.77
Simon Property Group Inc Simon Property Group Inc USD0.0001 4.57
EXTRA SPACE STORAGE INC 4.57
AVALONBAY COMMUNITIES INC 4.24
VICI PPTYS INC 4.00
Realty Income Corporation Realty Income Corporation USD1 3.95
Total 55.41

Fund Aims

Objective: The investment strategy of the fund is to purchase units in the Morgan Stanley US Property Fund (USD) - the underlying fund.

Underlying Fund Objective: The fund seeks to provide long term capital appreciation, measured in U.S dollars, by investing primarily in equity securities of companies in the US real estate industry located in the U.S. Companies in the real estate industry or closely related to the real estate industry may include companies principally engaged in the development and/or ownership of income-producing property; companies that operate, construct, finance or sell real estate; companies with substantial real estate related holdings and/or services or products related to the real estate industry, including, but not limited to, real estate management, brokers, building products and property technology; and collective investment vehicles with exposure to property, such as publicly quoted property unit trusts, all types of eligible closed-end Real Estate Investment Trusts (REITS) and undertakings for collective investment. The Fund may also invest on an ancillary basis in preference shares, debt securities convertible into common shares, warrants and other equity linked instruments.

The Investment Adviser actively integrates sustainability into the investment process by assessing key ESG risks and opportunities in its bottom-up stock selection process. The fund is denominated in US dollars.

Fund Manager

Bill Grant manager of the underlying fund for 14 years and 4 months

Photo of Bill Grant B.J. joined Morgan Stanley in 2000 and has 13 years of investment experience. He is a Portfolio Manager for our U.S. Real Estate portfolio. Previously, he worked for the Firm’s Securitized Products Group. B.J. received a B.A. from Occidental College in Economics.

Ted Bigman manager of the underlying fund for 14 years and 4 months

Photo of Ted Bigman Ted joined Morgan Stanley in 1995 and has 24 years of investment experience. He is a Managing Director at Morgan Stanley Investment Management and is the Head of Global Real Estate Securities Investing. Ted is the portfolio manager for the U.S. and global real estate securities portfolios and oversees the global team, which has investment teams in New York, Amsterdam and Singapore. Ted is also the lead portfolio manager for the Global Infrastructure Securities team. Prior to joining the Firm in 1995, he was a Director at CS First Boston, where he worked for eight years in the real estate investment banking group. He established and managed the REIT effort at CS First Boston, and had primary responsibility for $2.5 billion of REIT initial public offerings. Ted received a B.A. from Brandeis University in Economics and an M.B.A. from Harvard Business School. He is a member of the Investor Advisory Council of the National Association of Real Estate Investment Trusts.

Fund Overview

Bid (27/03/2024) 1.73
Offer (27/03/2024) 1.82
Fund size (29/02/2024) $0.00m
Underlying Fund size £61.42m
Number of holdings 32
Launch date 28/10/2005

Fund Charges

Annual Management Charge (AMC) 1.70%
Further Costs 0.00%
Yearly Total 1.70%

Asset Allocation

pie chart
  Property 72.62%
  International Equities 24.43%
  Alternative Trading Strategies 2.11%
  Cash and Equivalents 0.49%
  Other Assets 0.34%
Portfolio data accurate as at: 31/12/23

Important Information

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of fund charges and further costs, but take no account of product charges, or any Annual Management Charge paid for by the deduction of units. Charges and further costs may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in the fund's currency of denomination with gross income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.

This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Portfolio data accurate as at:

Asset Allocation

pie chart
  Property 72.62%
  International Equities 24.43%
  Alternative Trading Strategies 2.11%
  Cash and Equivalents 0.49%
  Other Assets 0.34%

Equity Sector Breakdown

Expand allCollapse all
Industry Supersector Sector Subsector
 
Real Estate 96.37% - - -
 
Real Estate - 96.37% - -
 
Real Estate Investment Trusts - - 96.37% -
 
Other Specialty REITs - - - 19.97%
 
Retail REITs - - - 18.04%
 
Residential REITs - - - 16.40%
 
Industrial REITs - - - 14.88%
 
Health Care REITs - - - 9.43%
 
Hotel & Lodging REITs - - - 5.98%
 
Office REITs - - - 5.17%
 
Storage REITs - - - 5.11%
 
Infrastructure REITs - - - 1.39%
 
Alternative Trading Strategies 2.11% - - -
 
Alternative Trading Strategies - 2.11% - -
 
Alternative Trading Strategies - - 2.11% -
 
Alternative Trading Strategies - - - 2.11%
 
Consumer Discretionary 0.69% - - -
 
Travel & Leisure - 0.69% - -
 
Travel & Leisure - - 0.69% -
 
Hotels & Motels - - - 0.69%
 
Cash and Equivalents 0.49% - - -
 
Non-Classified 0.34% - - -
 
Non-Classified - 0.34% - -
 
Non-Classified - - 0.34% -
 
Non-Classified - - - 0.34%

Regional Allocation

pie chart
  Property 64.73%
  North America 32.32%
  Non-Classified 2.45%
  Cash and Equivalents 0.49%

Regional Breakdown

Expand allCollapse all
Region Country
 
Property 64.73% -
 
North America 32.32% -
 
United States - 32.32%
 
Non-Classified 2.45% -
 
Cash and Equivalents 0.49% -

Breakdown By Market Cap (%)

Mega
 
 
40.99%
Large
 
 
37.29%
Medium
 
 
12.54%
Small
 
 
4.77%
Non-Classified
 
 
3.93%
Cash
 
 
0.49%

Top 10 Holdings

Stock % Weight Sector Country
1 PROLOGIS INC 9.66% Real Estate Investment Trusts Direct Property and REITs
2 EQUINIX 7.89% Real Estate Investment Trusts United States
3 WELLTOWER 6.65% Real Estate Investment Trusts Direct Property and REITs
4 PUBLIC STORAGE 5.11% Real Estate Investment Trusts United States
5 DIGITAL REALTY TRUST 4.77% Real Estate Investment Trusts United States
6 Simon Property Group Inc Simon Property Group Inc USD0.0001 4.57% Real Estate Investment Trusts Direct Property and REITs
7 EXTRA SPACE STORAGE INC 4.57% Real Estate Investment Trusts United States
8 AVALONBAY COMMUNITIES INC 4.24% Real Estate Investment Trusts Direct Property and REITs
9 VICI PPTYS INC 4.00% Real Estate Investment Trusts Direct Property and REITs
10 Realty Income Corporation Realty Income Corporation USD1 3.95% Real Estate Investment Trusts Direct Property and REITs

Dual Aspect Equity Analysis

UK Equities Int'l Equities UK Bonds Int'l Bonds UK Gilts Property Other Cash & Equiv Total
Real Estate - 23.74% - - - 72.62% - - 96.37%
Consumer Discretionary - 0.69% - - - - - - 0.69%
Cash and Equivalents - - - - - - - 0.49% 0.49%
Non-Classified - - - - - - 2.45% - 2.45%

Important Information

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Identification Codes

Sedol Code B0MSSM9
Mex Code SBMSUP
Isin Code IE00B0MSSM95
Citi Code TI43

Fund Charges

Annual Management Charge (AMC) 1.70%
Further Costs 0.00%
Yearly Total 1.70%

Aims and Benchmark

Aims Objective: The investment strategy of the fund is to purchase units in the Morgan Stanley US Property Fund (USD) - the underlying fund. Underlying Fund Objective: The fund seeks to provide long term capital appreciation, measured in U.S dollars, by investing primarily in equity securities of companies in the US real estate industry located in the U.S. Companies in the real estate industry or closely related to the real estate industry may include companies principally engaged in the development and/or ownership of income-producing property; companies that operate, construct, finance or sell real estate; companies with substantial real estate related holdings and/or services or products related to the real estate industry, including, but not limited to, real estate management, brokers, building products and property technology; and collective investment vehicles with exposure to property, such as publicly quoted property unit trusts, all types of eligible closed-end Real Estate Investment Trusts (REITS) and undertakings for collective investment. The Fund may also invest on an ancillary basis in preference shares, debt securities convertible into common shares, warrants and other equity linked instruments. The Investment Adviser actively integrates sustainability into the investment process by assessing key ESG risks and opportunities in its bottom-up stock selection process. The fund is denominated in US dollars.
Benchmark FTSE NAREIT Equity REITs (Net) Index
ABI Sector Property Other

Ratings

FE Crown Crown Rating of 1

Important Information

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

Charges and further costs may vary in the future and may be higher than they are now.

This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Risk Analysis

Ratio Value
Alpha 5.51
Beta 1.20
Sharpe -0.01
Standard Deviation 20.97
Info Ratio 0.59

Important Information

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager.

This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

Important Information

Because of changes in exchange rates the value of your investment, as well as any money you take from it, can go down as well as up.

Some funds may invest in ‘underlying’ funds or other investment vehicles. The performance of our fund, compared to what it’s invested in won’t be exactly the same. That can be due to additional charges, cash management (needed to help people to enter and leave our fund when they want), tax and the timing of investments (this is known as a fund’s dealing cycle, it varies between managers and can be several days).

Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of fund charges and further costs, but take no account of product charges, or any Annual Management Charge paid for by the deduction of units. Charges and further costs may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in the fund's currency of denomination with gross income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.

This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.

The registered office of Prudential International is in Ireland at Montague House, Adelaide Road, Dublin 2. Prudential International is a marketing name of Prudential International Assurance plc, a life assurance company operating from Ireland. Registration No. 209956. Prudential International Assurance plc is authorised and regulated by the Central Bank of Ireland and in the context of its UK regulated activities only, is deemed authorised by the Prudential Regulation Authority and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website. Prudential International is part of the same corporate group as The Prudential Assurance Company Limited. Both The Prudential Assurance Company Limited and Prudential International are direct and indirect subsidiaries respectively of M&G plc, a company incorporated in the United Kingdom. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in the United Kingdom.