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Global Permanence Portfolio
mutual fund
MGKAX
Payout Change
Suspended
Price as of:
$14.0
-0.04
-0.28%
primary theme
N/A
share class
MGKAX (Mutual Fund)
Global Permanence Portfolio
Payout Change
Suspended
Price as of:
$14.0
-0.04
-0.28%
primary theme
N/A
share class
MGKAX (Mutual Fund)
Global Permanence Portfolio
Payout Change
Suspended
Price as of:
$14.0
-0.04
-0.28%
primary theme
N/A
share class
Name
As of 12/13/2024Price
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
14.6%
1 yr return
22.4%
3 Yr Avg Return
4.2%
5 Yr Avg Return
10.9%
Net Assets
$6.23 M
Holdings in Top 10
53.8%
52 WEEK LOW AND HIGH
$14.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 4.69%
SALES FEES
Front Load 5.25%
Deferred Load N/A
TRADING FEES
Turnover 57.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/13/2024Price
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
MGKAX - Profile
Distributions
- YTD Total Return 14.6%
- 3 Yr Annualized Total Return 4.2%
- 5 Yr Annualized Total Return 10.9%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio -0.42%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameGlobal Permanence Portfolio
-
Fund Family NameMorgan Stanley Funds
-
Inception DateApr 30, 2019
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerAlexander Norton
Fund Description
Under normal market conditions, the Adviser seeks to achieve the Fund’s investment objective by investing primarily in equity securities of established companies located throughout the world, with capitalizations within the range of companies included in the MSCI All Country World Index.
The Adviser emphasizes a bottom-up stock selection process, seeking attractive investments on an individual company basis. In selecting securities for investment, the Adviser typically invests in companies it believes have strong name recognition and sustainable competitive advantages with above average business visibility, the ability to deploy capital at high rates of return, strong balance sheets and an attractive risk/reward. The Adviser typically focuses a significant portion of the Fund’s investments in a limited number of issuers, which may be in the same industry, sector or geographic region.
The Fund will make long-term investments in companies globally that the Adviser believes have the most durable long-term competitive advantages. The Fund may also invest in more moderate growth companies, companies with lower earnings volatility and/or companies with some cyclicality in their end markets.
The Adviser actively integrates sustainability into the investment process by using environmental, social and governance (“ESG”) factors as a lens for additional fundamental research, which can contribute to investment decision-making. The Adviser seeks to understand how environmental and social initiatives within companies can create value by strengthening durable competitive advantages, creating growth opportunities, driving profitability and/or aligning with secular growth trends. The Adviser generally engages with company management teams to discuss their ESG practices, with the aim of identifying how sustainability themes present opportunities and risks that can be material to the value of the security over the long-term. Other aspects of the investment process include a proprietary, systematic evaluation of governance policies, specifically focusing on compensation alignment on long-term value creation. Although consideration of ESG factors is incorporated into the investment process, it is only one of many tools the Adviser utilizes to make investment decisions.
The Fund may invest in foreign securities, which may include emerging market securities. Under normal market conditions, the Fund typically invests at least 40% of its total assets in the securities of issuers located outside of the United States, unless the Adviser determines, in its sole discretion, that conditions are not favorable. If the Adviser determines that conditions are not favorable, the Fund may invest under 40% of its total assets in the securities of issuers located outside the United States, provided that the Fund will not invest less than 30% of its total assets in such securities except for temporary defensive purposes. In addition, under normal market conditions, the Fund invests in the securities of issuers from at least three different countries, which may include the United States.
The Fund may invest in other types of equity securities.
MGKAX - Performance
Return Ranking - Trailing
| Period | MGKAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 14.6% | -35.6% | 29.2% | 34.56% |
| 1 Yr | 22.4% | 17.3% | 252.4% | 37.50% |
| 3 Yr | 4.2%* | -3.5% | 34.6% | N/A |
| 5 Yr | 10.9%* | 0.1% | 32.7% | N/A |
| 10 Yr | N/A* | -6.9% | 18.3% | N/A |
* Annualized
Return Ranking - Calendar
| Period | MGKAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 14.4% | -24.3% | 957.1% | 19.74% |
| 2022 | -21.5% | -38.3% | 47.1% | N/A |
| 2021 | 1.8% | -54.2% | 0.6% | N/A |
| 2020 | 26.0% | -76.0% | 54.1% | N/A |
| 2019 | N/A | -26.1% | 47.8% | N/A |
Total Return Ranking - Trailing
| Period | MGKAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 14.6% | -35.6% | 29.2% | 35.57% |
| 1 Yr | 22.4% | 11.4% | 252.4% | 61.48% |
| 3 Yr | 4.2%* | -3.5% | 34.6% | N/A |
| 5 Yr | 10.9%* | 0.1% | 32.7% | N/A |
| 10 Yr | N/A* | -6.9% | 18.3% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | MGKAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 20.4% | -24.3% | 957.1% | 19.74% |
| 2022 | -20.1% | -33.1% | 47.1% | N/A |
| 2021 | 19.3% | -44.4% | 1.8% | N/A |
| 2020 | 26.6% | -6.5% | 54.1% | N/A |
| 2019 | N/A | -14.4% | 47.8% | N/A |
NAV & Total Return History
MGKAX - Holdings
Concentration Analysis
| MGKAX | Category Low | Category High | MGKAX % Rank | |
|---|---|---|---|---|
| Net Assets | 6.23 M | 199 K | 133 B | 99.01% |
| Number of Holdings | 50 | 1 | 9075 | 70.81% |
| Net Assets in Top 10 | 2.23 M | -18 M | 37.6 B | 97.91% |
| Weighting of Top 10 | 53.78% | 9.1% | 100.0% | 23.91% |
Top 10 Holdings
- Cloudflare Inc 9.34%
- Royalty Pharma PLC 6.81%
- Eurofins Scientific SE 5.72%
- Intercontinental Exchange Inc 5.41%
- American Tower Corp 4.70%
- Rentokil Initial PLC 4.54%
- Floor Decor Holdings Inc 4.53%
- Canadian National Railway Co 4.50%
- Babcock International Group PLC 4.17%
- Texas Pacific Land Corp 4.07%
Asset Allocation
| Weighting | Return Low | Return High | MGKAX % Rank | |
|---|---|---|---|---|
| Stocks | 97.24% | 61.84% | 125.47% | 79.96% |
| Cash | 2.67% | -174.70% | 23.12% | 40.09% |
| Other | 0.09% | -13.98% | 19.14% | 4.85% |
| Preferred Stocks | 0.00% | -0.01% | 5.28% | 93.61% |
| Convertible Bonds | 0.00% | 0.00% | 4.46% | 93.61% |
| Bonds | 0.00% | -1.50% | 161.67% | 93.94% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MGKAX % Rank | |
|---|---|---|---|---|
| Technology | 23.62% | 0.00% | 49.87% | 81.83% |
| Industrials | 16.45% | 0.00% | 44.06% | 6.06% |
| Healthcare | 15.51% | 0.00% | 35.42% | 24.23% |
| Consumer Cyclical | 15.15% | 0.00% | 40.94% | 27.86% |
| Financial Services | 12.47% | 0.00% | 38.42% | 80.95% |
| Consumer Defense | 6.81% | 0.00% | 73.28% | 42.84% |
| Basic Materials | 4.26% | 0.00% | 38.60% | 3.41% |
| Communication Services | 2.65% | 0.00% | 57.66% | 91.52% |
| Energy | 1.59% | 0.00% | 21.15% | 98.79% |
| Real Estate | 1.48% | 0.00% | 39.48% | 8.04% |
| Utilities | 0.00% | 0.00% | 29.12% | 99.23% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MGKAX % Rank | |
|---|---|---|---|---|
| US | 69.35% | 0.13% | 103.82% | 83.70% |
| Non US | 27.89% | 0.58% | 99.46% | 17.18% |
MGKAX - Expenses
Operational Fees
| MGKAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 4.69% | 0.01% | 44.27% | 0.91% |
| Management Fee | 0.80% | 0.00% | 1.82% | 77.90% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 56.10% |
| Administrative Fee | N/A | 0.01% | 0.76% | 56.03% |
Sales Fees
| MGKAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 5.25% | 2.50% | 5.75% | 75.20% |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| MGKAX 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.
| MGKAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 57.00% | 0.00% | 395.00% | 91.28% |
MGKAX - Distributions
Dividend Yield Analysis
| MGKAX | Category Low | Category High | MGKAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 3.26% | 93.65% |
Dividend Distribution Analysis
| MGKAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | Annually | Annually |
Net Income Ratio Analysis
| MGKAX | Category Low | Category High | MGKAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.42% | -4.27% | 12.65% | 92.16% |
Capital Gain Distribution Analysis
| MGKAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 15, 2023 | $0.101 | CapitalGainShortTerm |
| Dec 15, 2023 | $0.530 | CapitalGainLongTerm |
| Dec 16, 2022 | $0.195 | CapitalGainLongTerm |
| Dec 17, 2021 | $2.242 | OrdinaryDividend |
| Dec 16, 2020 | $0.058 | OrdinaryDividend |
MGKAX - Fund Manager Analysis
Managers
Alexander Norton
Start Date
Tenure
Tenure Rank
Apr 30, 2019
3.09
3.1%
Alexander Norton is an investor for the Counterpoint Global team. He joined Morgan Stanley in 2000 and has been with financial industry since 1995. Prior to joining the firm, Alex was an associate in equity derivative sales and later an associate in equity research at Donaldson, Lufkin & Jenrette. Previously, he was a bond broker with Cantor Fitzgerald. Alex received a B.A. in history from the University of Pennsylvania and an M.B.A. in finance from Columbia Business School.
Armistead Nash
Start Date
Tenure
Tenure Rank
Apr 30, 2019
3.09
3.1%
Armistead Nash is an investor for the Counterpoint Global team. He joined Morgan Stanley in 2002 and has has been with financial industry since 2000. Armistead joined the team in 2004 as an investor. Previously, he was a member of the U.S. Research Group, working closely with the Counterpoint Global team. Prior to joining the firm, Armistead was an associate in investment product development at BlackRock Financial Management. Previously, he was a research analyst in high-yield research at KEA Capital. Armistead received a B.A. in history from the University of Virginia and an M.B.A. from the University of Virginia's Darden School of Business Administration.
Manas Gautam
Start Date
Tenure
Tenure Rank
Apr 30, 2019
3.09
3.1%
Mr. Gautam has been associated with Stanley Investment Management Inc. in an investment management capacity since 2015 and has six years of investment experience. Prior to joining Stanley Investment Management, Mr. Gautam was an associate at Osmium Partners and served as a Board Observer at Spark Networks, Inc. In addition, Mr. Gautam was previously a research analyst at a family office and a research intern at Lane Five Capital Management.
Dennis Lynch
Start Date
Tenure
Tenure Rank
Apr 30, 2019
3.09
3.1%
Dennis is the Head of the Counterpoint Global team at Morgan Stanley Investment Management. He joined Morgan Stanley in 1998 and has been with financial industry since 1994. Prior to joining the firm, he worked as a sell-side analyst for J.P. Morgan Securities. Dennis received a B.A. in political science from Hamilton College and an M.B.A. with honors in finance from Columbia University.
Jason Yeung
Start Date
Tenure
Tenure Rank
Apr 30, 2019
3.09
3.1%
Jason Yeung is an investor for the Counterpoint Global team. He joined Morgan Stanley in 2002 and has been with financial industry since 1997. Jason joined the team in 2004 as an investor. Previously, he was a member of the U.S. Research Group, working closely with the Counterpoint Global team. Prior to joining the firm, Jason was a senior research analyst at Ramius Capital Group. Previously, he was an equity research associate at Deutsche Bank. Jason received a B.A., Phi Beta Kappa, in international relations from Johns Hopkins University and an M. Phil. in international relations from the University of Cambridge. He holds the Chartered Financial Analyst designation.
David Cohen
Start Date
Tenure
Tenure Rank
Apr 30, 2019
3.09
3.1%
Dave Cohen is an investor for the Counterpoint Global team. He joined Morgan Stanley in 1993 and has has been with financial industry since 1988. Dave joined the team as an investor in 1999. Prior to joining the firm, Dave was a senior fund accountant at Alliance Capital. Previously, he was a fund accountant at Natwest and Wall Street Trust. Dave received a B.S. summa cum laude in management from Pace University.
Sandeep (Sam) Chainani
Start Date
Tenure
Tenure Rank
Apr 30, 2019
3.09
3.1%
Sam Chainani is an investor for the Counterpoint Global team. He joined Morgan Stanley in 1996 and has been with financial industry since 1996. Sam joined the team as an investor in 2000. Previously, he was a strategy specialist for our Inception and Discovery strategies. Sam received a B.S. in management with a concentration in finance from Binghamton University. He holds the Chartered Financial Analyst designation.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.01 | 35.82 | 6.24 | 1.25 |
