morgan stanley prime property fund annual report

The Fund was organized as a statutory trust on November 5, 2013 and under the laws of the State of Delaware. During the year ended September 30, 2016, the Fund incurred $310,030 of interest expense related to the unused amount. 790 0 obj <>/Filter/FlateDecode/ID[<607857BE6E716B4E9D499B07A688E7D9><222708FA8A18DD4D8383652F01B69479>]/Index[764 45]/Info 763 0 R/Length 123/Prev 207225/Root 765 0 R/Size 809/Type/XRef/W[1 3 1]>>stream DST Systems, Inc. serves as transfer, dividend paying and shareholder servicing agent for the Fund (the Transfer Agent). The registrants Code of Ethics is attached as an Exhibit hereto. The Distributor acts as the Funds principal underwriter in a continuous public offering of the Funds shares. Underlying Funds, if privately placed, generally are not subject to the regulatory scheme applicable to public companies. A portion of these securities are held as collateral for the outstanding Line(s) of Credit. In considering the extent to which economies of scale would be realized as the Fund grows and whether the advisory fee levels reflect these economies of scale for benefit of the Funds investors, the Trustees considered that the Funds fee arrangements with CenterSquare and noted that the sub-advisory fees contained break points, which caused the Adviser to pay CenterSquare lower fees at lower asset levels. As previously stated, we remain focused on net operating income (NOI) growth. At Morgan Stanley, giving back is a core valuea central part of our culture globally. Ideas across disciplines uncover novel insights for sharper decision-making. For additional information regarding sector classification/definitions please visit www.msci.com/gics and the glossary page.Cash & Equivalentsare defined as the value of assets that can be converted into cash immediately. Macro and thematic insights shaping the global investment landscape. Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer of the Global Balanced Risk Control (GBaR) Team, shares his macro thematic views on key market drivers. Each class represents an interest in the same assets of the Fund and classes are identical except for differences in their sales charge structures and ongoing service and distribution charges. These factors contributed to positive net returns with low volatility and low correlation to the broader markets. At a meeting of the Funds Board of Trustees on June 21, 2016, the Trustees approved the continuation of the Investment Sub-Advisory Agreement for a one-year term. Counsel with preschool director around staff, school programs and best practices. The Investment Pool holds external and internal endowments and other long term cash holdings.

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