Morgan Stanley dissolves 15 managed futures funds

Discussion in 'Financial Futures' started by ASusilovic, Dec 12, 2008.

  1. NEW YORK (Reuters) - Morgan Stanley disclosed on Thursday it is dissolving more than a dozen managed futures funds as its Demeter Management Corp unit withdrew as controlling partner of these funds, effective November 30.

    Fund investors who have not already redeemed their interests in the 15 funds will see distributions of any remaining assets on December 15, according to filings with the Securities and Exchange Commission. The filings did not say why Demeter was withdrawing as general partner.

    A Morgan Stanley spokeswoman declined to comment.

    Demeter Management is a general partner and commodity pool operator of Morgan Stanley's public managed futures funds. Since 1977, it has become one of the largest owners of managed futures funds in the United States.

    The following funds are affected: Cornerstone Funds II, III and IV; Morgan Stanley Principal Plus Fund; Morgan Stanley Portfolio Strategy Fund; Morgan Stanley Diversified Futures Fund I and III; Morgan Stanley Spectrum Currency; Morgan Stanley Spectrum Strategic; Morgan Stanley Spectrum Global Balanced; Morgan Stanley Spectrum Technical; Morgan Stanley Spectrum Select; Morgan Stanley Charter Graham; Morgan Stanley Charter WCM and Morgan Stanley Charter Aspect.
  2. Suss----Are you expecting a check in the mail from them tomorrow? :cool:
  3. Unfortunately, I am not serving U.S. investors...especially since USD lost "reserve currency" status...:D