Morgan Stanley 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:

Technology
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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