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Passport Overseas Equity Portfolio
MAIHX (Mutual Fund)
Passport Overseas Equity Portfolio
Name
As of 12/11/2024Price
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
11.3%
1 yr return
17.7%
3 Yr Avg Return
-0.5%
5 Yr Avg Return
6.2%
Net Assets
$151 M
Holdings in Top 10
33.9%
52 WEEK LOW AND HIGH
$16.6
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 19.62%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 39.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$10,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/11/2024Price
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
MAIHX - Profile
Distributions
- YTD Total Return 11.3%
- 3 Yr Annualized Total Return -0.5%
- 5 Yr Annualized Total Return 6.2%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.92%
- Dividend Yield 1.6%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NamePassport Overseas Equity Portfolio
-
Fund Family NameMorgan Stanley Funds
-
Inception DateNov 05, 2019
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerBen Rozin
Fund Description
The Adviser actively selects among developed and emerging countries applying its investment process to determine a country’s future economic growth and equity return potential. The Adviser’s approach combines a top-down country process with sector allocation and bottom-up stock selection. Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in the equity securities of issuers located outside of the United States. This policy may be changed without shareholder approval; however, you would be notified upon 60 days’ notice in writing of any changes.
The Adviser analyzes the global economic environment and each country’s fundamentals and actively allocate the Fund’s assets among countries and sectors located throughout the world (the investment universe is developed markets, including the United States, and emerging markets, including frontier markets). Investment decisions may be implemented through sector, industry and stock-specific allocations within and across markets that best capture the top-down view. Country and sector weightings are based on relative economic, political and social fundamentals, stock valuations and investor sentiment and are a function of the Adviser’s
conviction levels, the size of the economy and liquidity. The investment process considers analysis of sustainability with respect to financial strength, environmental and social factors and governance (also referred to as ESG).
Investments are based on fundamental analysis in an effort to identify those equities that stand to benefit most from the Adviser’s current and prospective macro views and that are likely to experience attractive earnings growth prospects as a result of exposure and gearing to those top-down conditions. Investment decisions are implemented by equity positions in sectors, industries, customized baskets and/or individual stocks. The equity securities in which the Fund may invest include common stock, preferred stock, convertible securities, depositary receipts, rights and warrants. The Adviser generally considers selling a portfolio holding when they determine that the position no longer satisfies their investment criteria.
The Fund may, but it is not required to, use derivative instruments for a variety of purposes, including hedging, risk management, portfolio management or to earn income. The Fund’s use of derivatives may involve the purchase and sale of derivative instruments such as futures, options, swaps, contracts for difference (“CFDs”) and other related instruments and techniques. The Fund may utilize foreign currency forward exchange contracts, which are also derivatives, in connection with its investments in foreign securities. Derivative instruments used by the Fund will be counted toward the Fund’s 80% policy discussed above to the extent they have economic characteristics similar to the securities included within that policy.
MAIHX - Performance
Return Ranking - Trailing
| Period | MAIHX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 11.3% | -3.4% | 32.4% | 26.54% |
| 1 Yr | 17.7% | -1.8% | 38.8% | 13.27% |
| 3 Yr | -0.5%* | -13.6% | 48.1% | 94.14% |
| 5 Yr | 6.2%* | -34.2% | 74.9% | 35.31% |
| 10 Yr | N/A* | 1.2% | 32.4% | 20.47% |
* Annualized
Return Ranking - Calendar
| Period | MAIHX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 8.6% | -1.4% | 22.0% | 93.25% |
| 2022 | -22.9% | -43.6% | 71.3% | 93.12% |
| 2021 | -5.9% | -28.5% | 18.9% | 89.11% |
| 2020 | 30.5% | -90.1% | 992.1% | 1.17% |
| 2019 | N/A | -1.9% | 38.8% | N/A |
Total Return Ranking - Trailing
| Period | MAIHX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 11.3% | -3.4% | 32.4% | 26.54% |
| 1 Yr | 17.7% | -1.8% | 38.8% | 13.27% |
| 3 Yr | -0.5%* | -13.6% | 48.1% | 94.14% |
| 5 Yr | 6.2%* | -34.2% | 74.9% | 35.31% |
| 10 Yr | N/A* | 1.2% | 32.4% | 19.27% |
* Annualized
Total Return Ranking - Calendar
| Period | MAIHX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 12.5% | 3.2% | 23.8% | 86.81% |
| 2022 | -21.5% | -43.6% | 144.8% | 94.08% |
| 2021 | 2.4% | -22.6% | 56.0% | 96.42% |
| 2020 | 30.6% | -89.7% | 1010.8% | 1.17% |
| 2019 | N/A | 4.3% | 38.8% | N/A |
NAV & Total Return History
MAIHX - Holdings
Concentration Analysis
| MAIHX | Category Low | Category High | MAIHX % Rank | |
|---|---|---|---|---|
| Net Assets | 151 M | 3.3 M | 425 B | 82.37% |
| Number of Holdings | 75 | 1 | 10481 | 67.08% |
| Net Assets in Top 10 | 52.6 M | 1.01 M | 47.5 B | 75.98% |
| Weighting of Top 10 | 33.90% | 4.6% | 147.7% | 18.52% |
Top 10 Holdings
- Alibaba Group Holding Ltd 5.00%
- Taiwan Semiconductor Manufacturing Co Ltd 3.91%
- Glencore PLC 3.85%
- Samsung Electronics Co Ltd 3.41%
- Linde PLC 3.39%
- Despegar.com Corp 3.38%
- AstraZeneca PLC 3.29%
- Sea Ltd 3.11%
- Unilever PLC 2.35%
- Airbus SE 2.21%
Asset Allocation
| Weighting | Return Low | Return High | MAIHX % Rank | |
|---|---|---|---|---|
| Stocks | 98.56% | 0.00% | 102.63% | 30.27% |
| Cash | 2.73% | 0.00% | 44.84% | 31.20% |
| Preferred Stocks | 0.89% | -0.05% | 6.89% | 21.68% |
| Other | 0.62% | -2.12% | 47.54% | 17.63% |
| Convertible Bonds | 0.00% | 0.00% | 4.18% | 28.48% |
| Bonds | 0.00% | 0.00% | 95.29% | 32.92% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MAIHX % Rank | |
|---|---|---|---|---|
| Basic Materials | 20.87% | 0.00% | 23.86% | 0.48% |
| Healthcare | 15.95% | 0.00% | 20.35% | 8.80% |
| Technology | 14.30% | 0.00% | 36.32% | 24.00% |
| Consumer Cyclical | 13.07% | 0.00% | 36.36% | 13.60% |
| Communication Services | 9.07% | 0.00% | 21.69% | 12.16% |
| Consumer Defense | 7.92% | 0.00% | 32.29% | 74.72% |
| Industrials | 6.70% | 5.17% | 99.49% | 96.64% |
| Energy | 6.04% | 0.00% | 16.89% | 20.48% |
| Financial Services | 5.59% | 0.00% | 47.75% | 96.80% |
| Real Estate | 0.46% | 0.00% | 14.59% | 70.88% |
| Utilities | 0.02% | 0.00% | 13.68% | 84.16% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MAIHX % Rank | |
|---|---|---|---|---|
| Non US | 75.56% | 0.00% | 99.44% | 84.71% |
| US | 23.00% | 0.00% | 102.01% | 9.05% |
MAIHX - Expenses
Operational Fees
| MAIHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 19.62% | 0.01% | 19.62% | 0.16% |
| Management Fee | 0.65% | 0.00% | 1.65% | 47.72% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.08% | 0.01% | 1.00% | 49.76% |
Sales Fees
| MAIHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| MAIHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | 2.17% |
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.
| MAIHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 39.00% | 2.00% | 247.00% | 55.18% |
MAIHX - Distributions
Dividend Yield Analysis
| MAIHX | Category Low | Category High | MAIHX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.58% | 0.00% | 17.49% | 15.13% |
Dividend Distribution Analysis
| MAIHX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| MAIHX | Category Low | Category High | MAIHX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.92% | -0.93% | 6.38% | 77.12% |
Capital Gain Distribution Analysis
| MAIHX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 15, 2023 | $0.263 | OrdinaryDividend |
| Dec 15, 2023 | $0.257 | CapitalGainLongTerm |
| Dec 16, 2022 | $0.247 | OrdinaryDividend |
| Dec 17, 2021 | $1.533 | OrdinaryDividend |
| Dec 16, 2020 | $0.007 | OrdinaryDividend |
| Dec 16, 2019 | $0.184 | OrdinaryDividend |
MAIHX - Fund Manager Analysis
Managers
Ben Rozin
Start Date
Tenure
Tenure Rank
Apr 01, 2017
5.17
5.2%
Mr. Rozin has been associated with Morgan Stanley Investment Management in an investment management capacity since January 2017. Prior to January 2017, Mr. Rozin was the co-lead portfolio manager at Manning & Napier and a senior investment strategist and international economist from March 2005 to December 2016. Mr. Madni has been associated with MSIM Company in an investment management capacity since 2005. Ms. Kandhari has been associated with the Adviser in an investment management capacity since 2006.
Jitania Kandhari
Start Date
Tenure
Tenure Rank
Apr 01, 2017
5.17
5.2%
Ms. Kandhari has been associated with Morgan Stanley Investment Management Inc. in an investment management capacity since 2006. Jitania is head of macroeconomic research on the Global Emerging Markets Equity team, focusing on global analytics, country and thematic research. Prior to joining the firm, Jitania was an emerging markets consultant at GMO. Previously, she was an associate vice president in private banking at ABN Amro, an associate vice president in securities broking and investment banking at Kotak Securities and a manager at First Global Securities. Jitania received a B.Com. in advanced financial and management accounting and an M.M.S in finance, both from the University of Bombay.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 30.35 | 6.32 | 3.25 |
