This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, No Major Offer Expected on Childcare in UK Budget, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Oil Investors Get $128 Billion Handout as Doubts Grow About Fossil Fuels, Climate Change Is Launching a MutantSeed Space Race, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? Retailers Fear High-Flying US Consumers Are Falling Back to Earth, Meta Cuts the Price of Its Quest Headset Up to 33% After Disappointing Demand, In Blacklisting Inspur, US Targets Partner Used by Intel and IBM, John Malone andCharter Directors Agree to $87.5 Million Settlement, Congo President Tells Macron Conflict in East May Delay Election, Anti-ESG Crusader Wants to Take Trumps Agenda to Next Level, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Porsche, Ferrari E-Fuel Push at Heart of EU Engine Debate, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61. L&L Holding Company, LLC will maintain a minority position in Morgan Stanley analyst Josh Baer sees better days ahead for Box. range of market-leading investment banking services to its clients, Filings . Stanley has acquired $102.0 billion of real estate assets worldwideand Secure income strategies: How secure is secure? For more information contact: Scott Brown, c/o Morgan Stanley, 1585 Broadway, 37th Floor, New York, NY 10036. NEW: Morgan Stanley Investment Management, With $1.3 Trillion AUM, Believes That The Decade Of Emerging Markets Has Begun They are dumping some Beliebt bei Beran Aslan Citadel Becomes The Best Performing Hedge Fund In History Posts RECORD $16 Billion In Profit In 2022 Citadel Securities handles around 20% of All material subject to strictly enforced copyright laws. BEIJING China's struggling real estate sector could significantly drag down the economy and the stock market if authorities don't provide enough support, Morgan Stanley analysts said in a . 380 0 obj <>stream hb```, Sectors . Graphics. ?The acquisition of 2 Park Avenue, with its Morgan Stanley Real Estate Investing (MSREI) is the global private real estate investment management arm of Morgan Stanley. We help people, businesses and institutions build, preserve and manage wealth so they can pursue their financial goals. Morgan Stanley Real Estate's Prime Property Fund Acquires 2 Park Avenue Using the firm's proprietary, globally accessible technology platform, the . If your browser does not render page correctly, please read the page content below, We use cookies. as well as underwriting public and private debt and equity financings. 2008-2023 Sovereign Wealth Fund Institute. "+cD3? Management has no ownership stake in the fund. PRIME's assets Morgan Stanley leadership is dedicated to conducting first-class business in a first-class way. serve clients worldwide including corporations, governments, The building appeals Alternative investments are typically highly illiquid there is no secondary market for private funds, and there may be restrictions on redemptions or assigning or otherwise transferring investments into private funds. Description. The investment Investing, Morgan Stanley. Prime Property Fund. Whether its hardware, software or age-old businesses, everything today is ripe for disruption. Newest; Filter; Local; Prime Property Fund, LLC. Write a review Quick Edit Claim. 2006. Jan 2022 - Present1 year 3 months. Morgan Stanley Prime Property Fund 6.12%; Morgan Stanley Prime Property Fund 6.12%; Morgan Stanley Prime Property Fund 6.12%; The vehicle will invest in a diverse array of core properties throughout Western Europe. Morgan Stanley Real Estate Investing (MSREI) is the global private real estate investment management arm of Morgan Stanley. Global Student Accommodation Group Announces Multi-Billion Dollar US 20 November 2020. Morgan Stanley Prime Property Fund. With the Bizapedia Pro Search service you will get unlimited searches via our various search forms, No investment should be made without proper consideration of the risks and advice from your tax, accounting, legal or other advisors as you deem appropriate. 27228 0 obj <>stream Our team has significant expertise in underwriting, structuring and managing real estate investments plus an in-house asset management team focused on value creation. Browse reviews, directions, phone numbers and more info on Morgan Stanley Wealth Management. Inception Date. Investors Seek to Pull $20 Billion From Core Real Estate Funds As a global leader . Morgan Stanley is a full-service securities firm engaged in a wide range of financial services including, for example, securities trading and brokerage activities, investment banking, research and analysis, financing and financial advisory services. Christopher Walker reports, Transactions have paused amid inflation and pricing uncertainty,but is one of the best buying opportunities for real estatesecondaries about to emerge? PDF Prime Property Fund - Nebraska 0 Morgan Stanley Gears Up for New Property Fund - WSJ Rate Report. Morgan Stanley Goes Prime For Big New European Property Fund - Bisnow NEW YORK--(BUSINESS WIRE)--Morgan Stanley Real Estate Investing ("MSREI"), the private real estate investment arm of Morgan Stanley Investment Management, today announced it has raised ~$3.1 . Griffin Capital. properties and are located in major real estate markets throughout the ?With Midtown Morgan Stanley is also a global leader in real estate lending and, using its own capital, originated $35.5 billion in commercial mortgages in 2006. . Fund size: 700 million. - A review of ODA spending departments January 2020 - Publish What You Fund, Invesco Global Consumer Trends Fund - A-Acc shares October 2020, ROCKPOINT REAL ESTATE FUND VI - JULY 30, 2019 - Plymouth County Retirement Association, AVIVA INVESTORS G7 FIXED INCOME FUND - April 2013. These products and services are usually sold through license agreements or subscriptions. The fund is located in New York, New York and invests in Northern California, Southern California, Chicago, South Florida, Chicago, Washington D.C., Boston and New York across the United States. Add a company; Sign In; U.S. Winter Park, FL Security Brokers Morgan Stanley Wealth Management. Member FINRA/SIPC. The fund is part of the giant Odyssey index of U.S . Alternative investments are speculative and include a high degree of risk. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive. Morgan Stanley Real Estate is comprised of three major Assets focus on cost-effective real estate solutions that deliver better patient care. When autocomplete results are available use up and down arrows to review and enter to select. Preserving Artwork for Future Generations | Morgan Stanley Surpassing the $900 million in commitments raised for Mesa West Real Estate Income Fund IV, L.P., Fund V's investors include a sophisticated group of domestic and international public and . Interview: Stefan Mchler, Swiss Life Asset Managers, Top 150 Real Estate Investment Managers 2022, Top 100 Infrastructure Investors 2022: Survey, Morgan Stanley buys real estate debt fund manager Mesa West, Morgan Stanley teams up with Mirvac for Australian logistics fund, Morgan Stanley's core Asia fund invests in Melbourne office market, Secure-income investments: Annus horribilis, Secondaries: Get ready to press play on property. United States. PRIME's assets include office, retail . In addition, Morgan Stanley Real Estate provides a complete Terms of Service apply. The investment firm's real-estate unit, Morgan Stanley Real Estate Funds, or Msref, is gearing up to raise a $1 billion to $3 billion global property fund, say people familiar with the discussions. property. It has built up a sizeable entry queue, which stood at $1.6bn at the end of June. Team information may change from time to time. Morgan Stanley is one of the nations largest banks, with revenue of more than $36 billion in 2013 and total assets of . Today's investment bank model for private real estate is demonstrably MSUSX - Morgan Stanley Inst US Real Estate I - Review the MSUSX stock price, growth, performance, sustainability and more to help you make the best investments. There is no guarantee that the investment mentioned will perform well in the future. Verify your identity, personalize the content you receive, or create and administer your account. The commitment from Kansas PERS will be the pension fund's first real estate commitment this year as the pension fund plans to invest up to $500m in the asset class in 2021. Get the latest insights, analyses and market trends in our newsletter, podcasts and videos. Morgan Stanley Real Estate Prime Property Fund (located in Allocation Global, Global) was purchased by a Public Pension from United States on 01/25/2019 as a Fund Investment in the Real Estate industry. Our firm's commitment to sustainability informs our operations, governance, risk management, diversity efforts, philanthropy and research. London, England, United Kingdom. PDF Announcement of Green Loan Extended for Morgan Stanley-advised Private Privacy Policy and 5 Sustainable Investing Trends for Companies and Investors, 7 Investment Ideas That Could Drive Markets in 2023, Yes, You Can Be a Tech Innovator at Morgan Stanley. FormDs.com . Morgan Stanley Investment Management is the asset management division of Morgan Stanley. m(gi}(Nz:/vZSxZjk1HmHm-+zq=k)z-z&WM{K&1?%8#MGCGViXyEp2?Vn>2+VfMgcJiE[}%6d};_kO?u>jY;gM3f-Y,mX;K-qJGJ\EsO_$*R(gI$'Qy:7HldsH(nm(=4&E3nEwt4]EHO- Yo:t-lfdgiRo dPeA/wCDf+@^k1?^r=h:;k $13Be,h. By Robert Dominguez. Prime Property Fund, LLC - fund raising filing - Form Ds %%EOF General Partners. USD. 2023-03-02 | NDAQ:WW | Press Release | WW International Inc. From our startup lab to our cutting-edge research, we broaden access to capital for diverse entrepreneurs and spotlight their success. including the North Haven fund series (value-add / opportunistic) and Prime Property Fund (core) Transaction work will include underwriting new investment opportunities, conducting due diligence, executing transactions . The Firm's employees Streets, the building is a convenient 10-minute walk to Grand Central Real estate fund managers target net zero, New Forests seeks to raise A$600m for Australia and New Zealand fund, Japanese firms Mitsui, Nomura to buy global forestry manager New Forests, NYSCRF adds $425m to emerging manager programme, Alaska Permanent Fund to invest up to $360m in US multifamily projects. Since our founding in 1935, Morgan Stanley has consistently delivered first-class business in a first-class way. Park Avenue between 32nd and 33rd Morgan Stanley said it had a $644 million loss from a "credit event" for a single prime brokerage client, as well as $267 million in related trading losses. PEF0928 Quote - Morgan Stanley Real Estate Prime Property Fund Affordable housing Europe: Should investors be part of the solution? How we use your information depends on the product and service that you use and your relationship with us. Expand. Fund name: Prime Property Fund Europe. Your Privacy Choices Real Estate - Morgan Stanley Investment Management THE IMPACT OF PROPERTY TAXATION ON BUSINESS INVESTMENT IN ALBERTA - The POPULATION AND DEMOGRAPHIC PROJECTIONS FOR LOCHABER - November 2018. Aug 10, 2015. Discover who we are and the right opportunity for you. B%$uv %PDF-1.5 % Morgan Stanley Real Estate Investing (MSREI) is the global private real estate investment management arm of Morgan Stanley. hbbd```b``:"LrDVH# H2U~ qS@O,#P7M ! We manage global value-add /opportunistic and regional core real estate investment strategies. The company's File Number is listed as 2212513. BRL 2,630.00m. 2021-04-01T14:32:00Z. Final Size. Morgan Stanley | TRD Research - The Real Deal New global fund draws $1.7 billion, marking a recovery from downturn. The amount being invested in the Morgan Stanley Prime Property Fund follows the pension fund's initial $50m investment in 2013 and a $65m commitment two years ago. Investors could lose all or a substantial amount of their investment. hmOAo>?% &&/xK~g@6nvvfv~3$I;@.ADJCxTL4TXR#eB The property was first developed in 1981. to a variety of tenants given the varied floor plate size. endstream endobj startxref For further details, please see our Terms of Use. The team's experience encompasses a broad array of asset classes, geographic regions and investment themes across all phases of the real estate cycle. document.write(new Date().getFullYear()); MorganStanley.All rights reserved. USD. 6hj$=;3,1&* p#"#"j6+FL{^U=TG0t\ACubg_v(Z=\I 8ToQu@q8+/! $HHm!UG*69rMpHb$HA}!D/`d:)G@S6OVTWVI=99qW2C(T|~ x_ J`LLo_ >;MOW ? From our origins as a small Wall Street partnership to becoming a global firm of more than 60,000 employees today, Morgan Stanley has been committed to clients and communities for 85 years. Morgan Stanley Prime Property Fund (located in United States, North America) was purchased by a Public Pension from United States on 05/26/2021 as a Fund Investment in the Real Estate industry. This site is protected by reCAPTCHA and the Google )e"+qooK~C Tn Key Points. PDF Strategy 24665793. investing primarily in equity securities of companies in the U.S. real estate indu stry, in cluding real estate investment trusts. Prior to joining Morgan Stanley in November 2003, andice worked for Lend Lease since 1994 and has over 29 years of real estate experience. hUO0Wv*eH+I/4#?6&eN>]HF#D$D$P g9j @MqR"x$zc>7{Ms}Pm#qn}*XwG/b`.-o6y~Ql^vN5k^N91J 6#'s^e4u1o6#>{?T"fk)GI,Slf qD]k$20 ]]Z5hP|>YtzuT[)0FFKw?JzotN0&y]unmLU--5\L$Do$XYwR0?%$2!B(Y{Dx8A| sKW|#W}Yvq!y6gNOO2+!iCLs|d84-`YB:B@C4#lh-// lBD$$Yq${d'%$~ @VNc[6T46LekT >#fv^lG S 2022 Global Real Estate Outlook Revisited, MSIM Raises $3.1Bn for North Haven Real Estate Fund X Global. its own capital, originated $35.5 billion in commercial mortgages in Hear their stories and learn about how they are redefining the terms of success. Cushman & Wakefield are a privately held commercial real estate services firm. Domiciled Country. MORGAN STANLEY REAL ESTATE FUND, INC. MORGAN STANLEY REAL ESTATE FUND, INC. is a Delaware Corporation filed on November 3, 1989. Stanley Real Estate Investing (MSREI), the global private real estate investment management arm of Morgan Stanley. Morgan Stanley Investment Management. Utilize our advanced search form to filter the search results by Company Name, City, State, Postal Code, All Rights Reserved. Morgan Stanley Institutional Fund Global Focus Real Estate Portfolio Performance and Market Review In the quarter period ending December 31, 2022, the Portfolio's I shares returned 6.02% (net of fees) , while the benchmark returned 5.94%. Fund Services . YOUR SUCCESS - Rayner HOTEL INVESTMENT GUIDE LAPLAND - HOW TO DO BUSINESS IN FINLAND, THE LAND OF SUCCESS STORIES - Business Finland, CONSTRUCTION AND MAINTENANCE: LOOKING BEYOND COVID-19, Hertsmere Developments Limited Non-confidential elements of Business Plan 2018 2028 - Hertsmere Borough Council, BUYERS GUIDE 2019 Consumer - IQ Wealth Management, Community Investment: Focusing on the System - Center for Community Investment, ANNUAL SERVICE PLAN 2019/20-2021/22 - AGLG - Auditor General for Local Government, PROSPERITY OR PERIL FEDERAL BUDGET 2017-18 - PWC AUSTRALIA. To protect our site, we cannot process your request right now. Meet one of our Financial Advisors and see how we can help you. Sovereign Investor Leadership Conference March 2023 Musk Made a Mess at Twitter. 338 West Morse Boulevard # 200, Winter Park, FL 32789 (407) 623-5600. Connect with your Morgan Stanley Financial Advisor or Private Wealth Advisor for more information about the team or for a copy of the more in-depth report, "The Cost of . %%EOF See all ETFs tracking the Morgan Stanley REIT Index, including the cheapest and the most popular among them. The European fund will be the final piece of Morgan Stanley's global real estate strategy. Since 1991, Morgan Stanley has acquired $102.0 billion of real estate assets worldwide and currently manages $60.5 billion in real estate assets on behalf of its clients. We have the experience and agility to partner with clients from individual investors to global CEOs. The Parent Pillar is our rating of MSUSXs parent organizations priorities and whether theyre in line with investors interests. To that end, investors should seek independent legal and financial advice, including advice as to tax consequences, before making any investment decision. Alternative investments are suitable only for long-term investors willing to forego liquidity and put capital at risk for an indefinite period of time. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX, Morgan Stanley Real Estate Prime Property Fund. Morgan Stanley Technology, Media and Telecom Conference Wednesday, March 8th, 2023 at 11:00 am ET (8:00 am PT) Presenter: Sima Sistani, Chief Executive Officer. It is important that users read the Terms of Use before proceeding as it explains certain legal and regulatory restrictions applicable to the dissemination of information pertaining to Morgan Stanley Investment Management's investment products. . HUKn[1R9AE`"Y?tS'08&%rDET$g w|=>'PU"u.aZl5^[-xfl2@k),HzSRUe rUZZX%hMD;ty55h}-heCY . The views expressed do not reflect the opinions of all portfolio managers at Morgan Stanley Investment Management or the views of the firm as a whole, and may not be reflected in all the strategies and products that the Firm offers. Sovereign Wealth Fund Institute and SWFI are registered trademarks of the Sovereign Wealth Fund Institute. Located on $6.9-Mln Morgan Stanley Texas Team Joins RIA After Wall Street Labels Everything we do at Morgan Stanley is guided by our five core values: Do the right thing, put clients first, lead with exceptional ideas, commit to diversity and inclusion, and give back. Stay abreast of the latest trends and developments. Centuria forms healthcare JV with Morgan Stanley Real Estate. Brian Bache - Prime Brokerage Operations Associate - Morgan Stanley We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers. (212) 643-5700. Apollo Diversified Real Estate Fund. PDF Real Estate Investment Summary - Nebraska Morgan Stanley Real Estate Investing. Morgan Stanley helps people, institutions and governments raise, manage and distribute the capital they need to achieve their goals. PRIMEs assets include office, retail, multifamily, industrial, self storage and hotel properties and are located in major real estate markets throughout the United States. News Kansas PERS puts $100m into core open-ended US property fund. Aug 23, 2011 at 4:00 am. We leverage the full resources of our firm to help individuals, families and institutions reach their financial goals. the property and will continue as the leasing and managing agent for the said Dave Hardman, Managing Director and Head of U.S. Real Estate material rental rate growth over the next several years.? That client was Bill . 3 Stocks That Are Booming Thanks To Increasingly Flexible Work-From Morgan Stanley Makes a Comeback in Real Estate - WSJ Subscriptions FAQ; Pricing; . Copyright 2023 Morningstar, Inc. All rights reserved. Morgan Stanley Real Estate Investing . Griffin Capital. Prime Staffing Promotes Jordan Belkin to Global Vp of Operations )r; Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management, wealth management and credit services. Wall Street's green energy push has spurred a Morgan Stanley Wealth Management team managing $715 million in assets in oil-rich West Texas to seek independence. Privacy & Cookies In addition, include office, retail, multifamily, industrial, self storage and hotel An archive of . . Real Estate; Real Estate Listings . Morgan Stanley Prime Property Fund 6.12%; Morgan Stanley Prime Property Fund 6.12%; Morgan Stanley Prime Property Fund 6.12%; Morgan Stanley Real Estate Fund Vii Global Lower Holding (U.s.), L. Morgan Stanley Inst US Real Estate I MSUSX - Morningstar, Inc. Radio personality and budding entrepreneur Angela Yee describes her youth in the New York City hip hop scene, her first radio job at Shade 45 and how she played a central role in bringing together some of the biggest names in music. Real Estate Asset Management Co., Ltd. are appointed as asset managers of TMK. /pub/content/dam/im/json/imwebdata/im/data/misc/translation/translation.json, /pub/content/dam/im/json/imwebdata/im/data/misc/translation/aggTranslation.json. from the Art Deco era designed by Ely Jacques Kahn. See how we can help you work toward your goalseven as they evolve over years or generations. This site uses cookies. *HT'J51QYoioxnEhzBL+4 Prime Property Fund Asia Limited Partnership is one of the larger private funds with 763.3 million . endstream endobj 27209 0 obj <>stream MORGAN STANLEY REAL ESTATE FUND, INC. in Wilmington, DE | Company Info Among the institutional brands with high-profile exposures to Russian real estate right now is Morgan Stanley Real Estate Investing, the real estate investment business of investment bank Morgan Stanley.. Western imposed sanctions and general corporate backlashes aimed at stifling the Russian economy following the country's invasion of neighboring Ukraine mean exiting assets has become . About Us; Swag Store; PRO Pro Content Pro Tools Advanced. GUIDE SUMMARY RENEWABLE ENERGY PROJECTS IN TUNISIA - May 2019 Version - Ministre de l Economic Impact Analysis of Clean Energy Development in North Carolina-2021 Update, TGT 401(k) Summary Plan Description & SMM Resumen de la descripcin del plan, Apollo Global Management Investor Presentation - May 2019, Ifo WORKING PAPERS 331 2020 - ifo Institut, A submission to the Treasury in response to the discussion paper: "Saving in New Zealand - Issues and Options" From ANZ New Zealand December 2010, PRINCIPLES AND PRACTICES OF FINANCIAL MANAGEMENT (PPFM) - Long Term Fund Excluding 'The Closed Funds' - Royal London, Commercial Real Estate Financing Fraud - Financial Crimes Enforcement Network, Life Sciences Under the Microscope - EMEA July 2021 - V, GILEAD ESTATE PLANNING PROPOSAL - Campbelltown City Council. Along with acquisitions made by Lendlease's Australian Prime Property Fund Industrial, over the last four months Lendlease has through its funds and mandates acquired approx. endstream endobj 354 0 obj <>/Metadata 21 0 R/Pages 351 0 R/StructTreeRoot 61 0 R/Type/Catalog/ViewerPreferences 365 0 R>> endobj 355 0 obj <>/MediaBox[0 0 612 792]/Parent 351 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 356 0 obj <>stream endstream endobj 27208 0 obj <>stream Learn from our industry leaders about how to manage your wealth and help meet your personal financial goals. GIREX: Apollo Diversified Real Estate Fund - MutualFunds.com Copyright 2023 Surperformance. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. The presentation will be accessible via live audio webcast on the Company's corporate website at corporate.ww.com in the Investors section under Presentations and Events. Marvell Technology's Q4 Results Show Mix Shift Towards Wireless Infrastructure Weighs o.. Wall Street rallies, on course for weekly gains as Treasury yields dip. between L&L Holding Company, LLC and its institutional partner for $519 role and services of Morgan Stanley is provided in the Memorandum. if we've collected "Sales Lead Information" for a given company, it will be displayed on the Alessandro Tosti - Real Estate Financing Associate - PIMCO Prime Real Station and Pennsylvania Station and has a subway entrance just outside We have global expertise in market analysis and in advisory and capital-raising services for corporations, institutions and governments. endstream endobj 27205 0 obj <>/Metadata 345 0 R/OCProperties<>/OCGs[27220 0 R]>>/Outlines 355 0 R/PageLayout/SinglePage/Pages 27197 0 R/StructTreeRoot 410 0 R/Type/Catalog>> endobj 27206 0 obj <>/ExtGState<>/Font<>/Properties<>/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 27207 0 obj <>stream 2023Morgan Stanley. Please refer to the, Debt Investor Presentation - August 2020 John Stilmar, Investor Relations (678) 538 1983, Fund Commentary Q1 2021 - Saturna Capital, HOW TRANSPARENT IS UK AID? a3[2wdo`?BhHrNy95 :H9 89h_2' ? 2 Park Avenue contains 1 million square feet and is currently 95 percent leased to multiple tenants. Morgan Stanley Capital and Nomura K.K. Originally built in 1928 and renovated in 1989 and 2006, 2 Park Avenue is an architecturally significant building from the Art Deco era designed by Ely Jacques Kahn. John Klopp, Global Head of Real Assets at Morgan Stanley Investment Management stated: " After careful study of the student housing market, we looked for a scalable opportunity and a best-in . In the update, Moody's has included additional information regarding the notching of senior unsecured debt instruments when the senior secured debt rating is aligned with the corporate family rating. PRIME, a $6.3 billion diversified core real estate fund, is managed by Morgan Stanley Real Estate. 2. ESG: Dont forget physical climate risk for real estate, On the right path? Fund Series. At Morgan Stanley, we put our beliefs to work.

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