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Dynamic Value Portfolio
mutual fund
MAAUX
Payout Change
Pending
Price as of:
$12.01
-0.01
-0.08%
primary theme
U.S. Large-Cap Value Equity
share class
MAAUX (Mutual Fund)
Dynamic Value Portfolio
Payout Change
Pending
Price as of:
$12.01
-0.01
-0.08%
primary theme
U.S. Large-Cap Value Equity
share class
MAAUX (Mutual Fund)
Dynamic Value Portfolio
Payout Change
Pending
Price as of:
$12.01
-0.01
-0.08%
primary theme
U.S. Large-Cap Value Equity
share class
Name
As of 09/30/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
6.9%
1 yr return
21.7%
3 Yr Avg Return
7.5%
5 Yr Avg Return
N/A
Net Assets
$132 M
Holdings in Top 10
42.7%
52 WEEK LOW AND HIGH
$12.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.20%
SALES FEES
Front Load 5.25%
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 09/30/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
MAAUX - Profile
Distributions
- YTD Total Return 6.9%
- 3 Yr Annualized Total Return 7.5%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.84%
- Dividend Yield 1.7%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameDynamic Value Portfolio
-
Fund Family NameMorgan Stanley Funds
-
Inception DateApr 05, 2021
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDouglas Rentz
Fund Description
The Adviser seeks to achieve the Fund’s investment objective by investing primarily in equity securities within the Russell 1000 Index universe. The Russell 1000 Index measures the performance of the large-cap segment of the U.S. equity universe. Utilizing the Adviser’s assessment of the macroeconomic environment to determine the attractiveness of “Value” stocks overall, the Adviser will construct a portfolio incorporating the most attractively valued Value stocks and the least attractively valued Value stocks (“Anti-Value” stocks) within the Russell 1000 Index universe. Value stocks are those believed by the Adviser to be undervalued in comparison to their peers due to economic, market, company-specific or other factors. Depending on the Adviser’s conviction level related to the attractiveness of Value stocks at any point in time, the Fund’s exposures may range from long exposures to both Value and Anti-Value stocks (when conviction to Value stocks is low) to a fully invested long position in Value stocks with an additional relative position creating long exposure to Value and short exposure to Anti-Value (when conviction to Value stocks is at its highest). The Fund’s exposure to Value and Anti-Value stocks may be obtained through investments in equity securities (such as common stock), total return swaps and other derivative instruments. The Adviser’s assessment of the attractiveness of Value is based primarily on the team’s analysis of historic valuations, analysis of the macroeconomic backdrop that typically favors value historically, and a determination of investor sentiment and positioning as it relates to Value stocks. Underlying Value and Anti-Value stocks are screened using a multi-factor framework, are weighted to seek to neutralize industry exposures relative to the Russell 1000 Value Index, the Fund’s benchmark, and are periodically rebalanced and refreshed based on screening outputs. The Fund’s strategy is designed to comprehensively identify the most attractive Value stocks within the Russell 1000 Index universe, neutralized for industry exposures, as well as the periods in time when the Adviser believes these securities have the highest probability of outperforming (or underperforming) their benchmark index.
From time to time, certain amounts of the Fund’s investments will be total return swap transactions, the underlying assets of which may be long positions in Value stocks and long or short positions in Anti-Value stocks. The Fund may also invest in futures for cash management purposes. Derivative instruments used by the Fund will be counted towards the Fund’s exposure to equity securities within the Russell 1000 Index universe to the extent that they have economic characteristics similar to such securities.
MAAUX - Performance
Return Ranking - Trailing
| Period | MAAUX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.9% | -1.2% | 34.3% | 98.53% |
| 1 Yr | 21.7% | 6.1% | 57.3% | 90.45% |
| 3 Yr | 7.5%* | -1.4% | 32.9% | 79.98% |
| 5 Yr | N/A* | 0.3% | 46.6% | N/A |
| 10 Yr | N/A* | 1.6% | 25.5% | N/A |
* Annualized
Return Ranking - Calendar
| Period | MAAUX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 8.8% | -16.9% | 46.1% | 32.05% |
| 2022 | -2.5% | -64.7% | 4.6% | 4.27% |
| 2021 | N/A | -44.2% | 57.5% | N/A |
| 2020 | N/A | -23.2% | 285.0% | N/A |
| 2019 | N/A | -21.4% | 48.5% | N/A |
Total Return Ranking - Trailing
| Period | MAAUX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.9% | -1.2% | 34.3% | 98.53% |
| 1 Yr | 21.7% | 6.1% | 57.3% | 90.45% |
| 3 Yr | 7.5%* | -1.4% | 32.9% | 79.98% |
| 5 Yr | N/A* | 0.3% | 46.6% | N/A |
| 10 Yr | N/A* | 1.6% | 25.5% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | MAAUX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 10.9% | -15.9% | 46.7% | 51.10% |
| 2022 | 0.4% | -42.0% | 8.5% | 7.61% |
| 2021 | N/A | 3.6% | 129.7% | N/A |
| 2020 | N/A | -22.6% | 304.8% | N/A |
| 2019 | N/A | -12.7% | 52.1% | N/A |
NAV & Total Return History
MAAUX - Holdings
Concentration Analysis
| MAAUX | Category Low | Category High | MAAUX % Rank | |
|---|---|---|---|---|
| Net Assets | 132 M | 1.94 M | 163 B | 85.21% |
| Number of Holdings | 202 | 2 | 1733 | 10.05% |
| Net Assets in Top 10 | 56.2 M | 433 K | 37.8 B | 80.82% |
| Weighting of Top 10 | 42.73% | 4.4% | 99.1% | 9.97% |
Top 10 Holdings
- Morgan Stanley Institutional Liquidity Funds - Government Portfolio 34.54%
- SWAP JP MORGAN COC 1.47%
- ATT Inc 1.32%
- Marathon Oil Corp 0.86%
- NOV Inc 0.78%
- Marathon Petroleum Corp 0.77%
- Valero Energy Corp 0.76%
- APA Corp 0.75%
- Ovintiv Inc 0.74%
- HF Sinclair Corp 0.74%
Asset Allocation
| Weighting | Return Low | Return High | MAAUX % Rank | |
|---|---|---|---|---|
| Stocks | 65.14% | 7.19% | 103.40% | 99.54% |
| Cash | 36.15% | 0.00% | 36.15% | 0.37% |
| Preferred Stocks | 0.00% | 0.00% | 15.27% | 70.32% |
| Convertible Bonds | 0.00% | 0.00% | 3.66% | 69.08% |
| Bonds | 0.00% | 0.00% | 78.06% | 70.59% |
| Other | -1.30% | -2.19% | 36.68% | 99.91% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MAAUX % Rank | |
|---|---|---|---|---|
| Financial Services | 16.76% | 0.00% | 58.05% | 75.30% |
| Healthcare | 16.52% | 0.00% | 30.08% | 59.72% |
| Technology | 12.15% | 0.00% | 54.02% | 35.30% |
| Industrials | 11.64% | 0.00% | 42.76% | 48.48% |
| Consumer Cyclical | 9.20% | 0.00% | 22.74% | 14.10% |
| Real Estate | 7.56% | 0.00% | 90.54% | 4.61% |
| Energy | 7.09% | 0.00% | 54.00% | 66.08% |
| Communication Services | 5.97% | 0.00% | 26.58% | 46.08% |
| Consumer Defense | 4.79% | 0.00% | 34.10% | 84.79% |
| Utilities | 4.38% | 0.00% | 27.04% | 49.77% |
| Basic Materials | 3.94% | 0.00% | 21.69% | 34.84% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MAAUX % Rank | |
|---|---|---|---|---|
| US | 65.14% | 7.19% | 103.40% | 99.36% |
| Non US | 0.00% | 0.00% | 24.72% | 76.16% |
MAAUX - Expenses
Operational Fees
| MAAUX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.20% | 0.03% | 14.82% | 29.42% |
| Management Fee | 0.35% | 0.00% | 1.50% | 12.27% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 47.61% |
| Administrative Fee | 0.08% | 0.00% | 0.50% | 43.23% |
Sales Fees
| MAAUX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 5.25% | 1.00% | 5.75% | 72.61% |
| Deferred Load | N/A | 0.95% | 5.00% | N/A |
Trading Fees
| MAAUX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| MAAUX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 488.00% | 83.71% |
MAAUX - Distributions
Dividend Yield Analysis
| MAAUX | Category Low | Category High | MAAUX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.70% | 0.00% | 16.67% | 64.08% |
Dividend Distribution Analysis
| MAAUX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| MAAUX | Category Low | Category High | MAAUX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.84% | -1.51% | 4.28% | 22.34% |
Capital Gain Distribution Analysis
| MAAUX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 11, 2023 | $0.204 | OrdinaryDividend |
| Dec 12, 2022 | $0.306 | OrdinaryDividend |
| Dec 13, 2021 | $0.439 | OrdinaryDividend |
MAAUX - Fund Manager Analysis
Managers
Douglas Rentz
Start Date
Tenure
Tenure Rank
Mar 19, 2021
1.2
1.2%
Mr. Rentz has been associated with the Adviser in an investment management capacity since July 2011
Cyril Moullé-Berteaux
Start Date
Tenure
Tenure Rank
Mar 19, 2021
1.2
1.2%
Cyril Moullé-Berteaux, Managing Director. Cyril Moullé-Berteaux is head of the GMA team at MSIM. He re-joined the firm in 2011 and has been with financial industry since 1991. Before returning to Morgan Stanley, Cyril was a founding partner and portfolio manager at Traxis Partners, a macro hedge fund firm. At Traxis Partners, Cyril managed absolute-return portfolios and was responsible for running the firm’s fundamental and quantitative research effort. Prior to co-founding Traxis Partners, in 2003, he was a managing director at MSIM, running Asset Allocation Research and heading the Global Asset Allocation team. Previously, from 1991 to 1995, Cyril worked at Bankers Trust as a corporate finance analyst and as a derivatives trader in the emerging markets group. He received a BA in economics from Harvard University.
Sergei Parmenov
Start Date
Tenure
Tenure Rank
Mar 19, 2021
1.2
1.2%
Sergei Parmenov, Managing Director. Sergei Parmenov rejoined MSIM in 2011 in the Global Multi-Asset team and has been with financial industry since1996. Before returning to Morgan Stanley, Sergei was a founder and manager of Lyncean Capital Management. Between 2003 and 2008, Sergei was an analyst and a portfolio manager at Traxis Partners. From 2002 to 2003, Sergei was an analyst at J. Rothschild Capital Management in London. Prior to this, he was a Vice President in the private equity department of Deutsche Bank and from 1999 to 2001, Sergei was an Associate and subsequently Vice President at Whitney & Co, focusing on European private equity investments. Sergei started his career in MSIM in 1996. He received a BA in economics from Columbia University.
Mark Bavoso
Start Date
Tenure
Tenure Rank
Mar 19, 2021
1.2
1.2%
Mark Bavoso is a senior portfolio manager on the Global Multi-Asset team. He joined Morgan Stanley in 1986 and has been with financial industry since 1983. Previously, he was a senior vice president and portfolio manager at Dean Witter InterCapital and a vice president in the equity marketing and research departments of Dean Witter Reynolds. Prior to joining the firm, he was a vice president and equity research analyst at Sutro & Co. Mark received a BA in both history and political science from the University of California, Davis. Mark is also a member of the Economic Club of New York.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.05 | 86.59 | 8.08 | 6.71 |
