is doing spring cleaning. The firm is chiseling its product line to make its offerings "more competitive and efficient," according to a statement by Bill Ennis
, president of Morgan Stanley Investment Management Global Services.
The planned changes include cuts in retail mutual funds, institutional funds and separately managed accounts.
Seven retail funds, six institutional funds and four SMA portfolios will close to new investors April 30 and be liquidated in May or August.
The following institutional funds, with a combined $154 million in assets, are set to close:
- Asian Real Estate
- Latin American
- European Value Equity
- Japanese Value Equity
- Cash Reserves
The following SMA portfolios, with approximately $43 million in assets, will be closed out with assets moved to clients' brokerage accounts:
- Strategist Strategy
- Sector Rotation Strategy
- Utilities Strategy
- Science & Technology Strategy
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