Mumbai: Morgan Stanley Investment Management Pvt Ltd filed initial papers with the market regulator Securities and Exchange Board of India (Sebi) for an equity and a liquid fund on Wednesday.
If launched, this would be their first in India since 1994.
This year international players such as AIG and JP Morgan entered India’s fund industry that managed Rs4.68 trillion at August-end. Morgan Stanley’s sole fund was launched in January 1994.
Morgan Stanley A.C.E. Fund, an open end equity scheme, would invest at least 65% of the assets in stocks across market capitalisation ranges and sectors and the rest in debt and money market instruments, the fund house said in its offer document.
Morgan Stanley Liquid Fund would invest all its assets in money market and debt instruments.
While the liquid fund will not charge any entry or exit load, the equity fund would levy an entry load of 2.25%and exit fee of up to 1%for redemptions within a year.
At the end of August, the fund house managed assets worth Rs33.6 billion, data from Association of Mutual Funds in India showed.