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Morgan Stanley Offers Registered Fund

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NEW YORK (–Not many registered hedge fund offerings have been launched in the last year, but Morgan Stanley is hailing its absolute return prowess in its newest vehicle.

The Alternative Investment Partners Absolute Return Fund’s introduction was announced late last week as an institutional-quality portfolio of hedge funds that will be sold to affluent individual investors and smaller institutional clients. The new fund is registered under the Investment Company Act of 1940 and is a closed-end fund of hedge funds. Initial investment minimums are set at $100,000.

Officials said in a news release that the offering comes as Morgan Stanley’s asset management business continues to gain momentum thanks to the launch of several new alternative products.

“Launching the Absolute Return Fund is a natural way for us to utilize our experience and relationships in the hedge fund industry to bring more sophisticated products to a greater number of our clients,” said Stuart Bohart, head of alternative investments at Morgan Stanley Investment Management, in a statement. Mr. Bohart was recently appointed to head the firm’s alternative investment efforts, after heading Morgan Stanley’s prime brokerage business for many years.

Mustafa Jama, head and chief investment officer of liquid markets at Morgan Stanley Alternative Investment Partners, leads the registered fund’s management team.

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Contact Bob Keane with questions or comments at [email protected].


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