morgan stanley prime property fund annual reportgran turismo sport tuning database

Performance is calculated net of fees. 5.54%---- Fidelity Inv MM Fds . Spencer Propper Mr. Propper serves as Vice President of Griffin Capital Advisor, LLC and Associate Portfolio Manager of Griffin Institutional Access Real Estate Fund. A career at Morgan Stanley means belonging to an ideas-driven culture that embraces new perspectives to solve complex problems. It includes fees paid for investment management (Management Fee), trustee/custodian, and administration charges.TheMinimum Initial Investment/Minimum Subsequent Investmentamounts may be in US Dollars (or the Euro Yen or Sterling equivalent of the US Dollar amount).For more information please see the Charges and Expenses section of the prospectus. The following is a summary of the inputs used in valuing the Funds investments as of September 30, 2016: Level 2 - Other Significant Observable Inputs, Private Investment Funds (Measured at net asset value). The Fund may use the fair value of a security to calculate its NAV when, for example, (1) a portfolio security is not traded in a public market or the principal market in which the security trades is closed, (2) trading in a portfolio security is suspended and not resumed prior to the normal market close, (3) a portfolio security is not traded in significant volume for a substantial period, or (4) the Adviser determines that the quotation or price for a portfolio security provided by a broker-dealer or independent pricing service is inaccurate. The use of leverage increases risks, such that a relatively small movement in the value of an investment may result in a disproportionately large movement, unfavourable as well as favourable, in the value of that investment and, in turn, the value of the Fund. You cannot invest directly in an index. The Fund is a closed-end interval fund that provides liquidity to shareholders through a quarterly repurchase offer. There can be no assurance that the Fund could purchase or sell a portfolio security at the price used to calculate the Funds Net Asset Value (NAV). Griffin Capital Advisor, LLC (the Adviser), as a matter of policy and as a fiduciary to the Clients, has responsibility for voting proxies for securities consistent with the best interests of Clients. Past performance is not a guarantee of future results. The Funds income, expenses (other than class specific distribution fees) and realized and unrealized gains and losses are allocated proportionately each day based upon the relative net assets of each class. Along with his or her recommendation, the Portfolio Manager will provide a written certification, provided in Exhibit A to this policy, that he is not subject to conflicts of interest regarding the Underlying Fund or the subject of the Proxy. Because in the context of Underlying Funds each solicited vote raises unique questions, each Proxy with respect to an Underlying Funds will be analyzed by the Portfolio Manager, and in turn the President and the Investment Committee, on a case-by-case basis. A $1B fund might provide more than $10M in annual . Average borrowings and the average interest rate for the days the Credit Suisse line of credit was outstanding during the year ended September 30, 2016 were $41,831,967 and 3.17%, respectively. For example, the Adviser may, directly or indirectly, receive fees from Client Accounts that are higher than the fee it receives from the Fund, or it may, directly or indirectly, receive a performance-based fee on a Client Account. There is no guarantee that shareholders will be able to sell all of the shares they desire to sell in a quarterly repurchase offer, although each shareholder will have the right to require the Fund to purchase at least 5% of such shareholders shares in each quarterly repurchase. After further review and discussion, the Board determined that CenterSquares practices regarding brokerage and portfolio transactions were satisfactory. Returns may increase or decrease as a result of currency fluctuations. The vehicle will invest in a diverse array of core properties throughout Western Europe. Past performance is no guarantee of future results. The Funds investment adviser has contractually agreed to waive its fees and to pay or absorb the ordinary annual operating expenses of the Fund (including offering expenses, but excluding taxes, interest, brokerage commissions, acquired fund fees and expenses and extraordinary expenses), to the extent that they exceed 1.91%, 2.66% and 1.66% per annum of the Funds average daily net assets attributable to Class A, Class C and Class I shares, respectively. PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. The schedule of investments is included as part of the Reports to Stockholders filed under Item 1 of this report. Morgan Stanley, founded in 1935, is a global financial services firm focused on securities underwriting, Certain documentation available on this site may pertain to multiple sub-funds of the Morgan Stanley Investment Funds range. Certifications required by Item 12(a)(2) of Form N-CSR are filed herewith as Exhibit 99.CERT. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Each voting member of the Investment Committee, including the President of the Adviser, will provide a written certification that he is not subject to conflicts of interest regarding the Underlying Fund or the subject of the Proxy, and document that persons proxy voting recommendation. The Funds investment objective is to generate a return comprised of both current income and capital appreciation with moderate volatility and low correlation to the broader markets. The registrant has not adopted procedures by which shareholders may recommend nominees to the registrants Board of Trustees. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. The term Fund Complex refers to the Griffin Institutional Access Real Estate Fund. Learn why 2023 has exciting opportunities for the real estate market. 03-Mar-2023. Formerly known as the Cornerstone Patriot Fund. The Fund pursues its investment objective by strategically investing across private institutional real estate investment funds as well as a diversified set of public real estate securities. Liability Driven Investing (LDI) Customized solutions structured to fit your LDI needs. In the absence of specific voting guidelines from the particular Client, the Adviser will vote Proxies in the best interests of such Client. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. Because the Portfolio Manager and the Associate Portfolio Manager may manage assets for other pooled investment vehicles and/or other accounts (including institutional clients, pension plans and certain high net worth individuals) (collectively Client Accounts), or may be affiliated with such Client Accounts, there may be an incentive to favor one Client Account over another, resulting in conflicts of interest. In those instances, a portfolio manager may have an incentive to not favor the Fund over the Client Accounts. Aggregate Bond Index in each of the since inception, trailing one year, and year to date through May 31, 2016 periods. If a Funds NAV decreases, the Fund will have distributed more than it has economically earned or it will have incurred an economic loss. 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. The Trustees also reviewed a memorandum from the Funds legal counsel that summarized the fiduciary duties and responsibilities of the Board of Trustees in reviewing and approving the Investment Advisory Agreement, including the types of information and factors that should be considered in order to make an informed decision. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. Core AEW Core Property Trust (1) Morgan Stanley Prime Property Fund . The Trustees noted that, while the management fee remains the same at all asset levels, the Funds shareholders continue to benefit from the Funds expense limitation arrangement until the Funds assets grew to a level where the Funds expenses fell below the cap set by the arrangement and the Adviser begins receiving its full fee. The higher the category, the greater the potential reward, but also the greater the risk of losing the investment. The Trustees noted that the Fund outperformed each of its peers in the since inception and year to date through May 31, 2016 periods. The Trustees also noted that CenterSquares fee, combined with the Advisers fee, were similar to the management fees for funds with similar investment strategies. Dr. Anderson also served as the Howard Phillips Eminent Scholar Chair and Professor of Real Estate at the University of Central Florida where he directed the research and education institute. 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. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. $46,993 of additional Organizational Expenses were recorded subsequent to the May 21, 2014 Seed Audit Financial Statements. The Fund offers three share classes: GIREX - Class A, GCREX - Class C, and GRIFX - Class I. The Funds investment adviser is Griffin Capital Advisor, LLC (the Adviser). In considering AHICs practices regarding brokerage and portfolio transactions, the Trustees reviewed AHIC standards, and performance in utilizing those standards, for seeking best execution for Fund portfolio transactions. The Trustees also noted that CenterSquare seeks to invest across a diversified set of public real estate securities. The Fund is an interval fund and, as such, has adopted a fundamental policy to make quarterly repurchase offers, at net asset value, of no less than 5% of the Funds shares outstanding. The Griffin Institutional Access Real Estate Fund (the Fund) is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as a non-diversified, closed-end management investment company. A positive correlation of 1 implies that as one security moves, either up or down, the other security will move in lockstep, in the same direction. The Fund is actively managed, and the management of the fund is not constrained by the composition of the Benchmark. . In considering the costs of the services provided and profits realized by the Adviser and its affiliates from the relationship with the Fund, the Trustees evaluated the Advisers staffing, personnel, and methods of operating; the education and experience of the Advisers personnel; the Advisers compliance programs, policies, and procedures; the financial condition of the Adviser; the level of commitment to the Fund and the Adviser by the principals of the Adviser; the current and projected asset levels of the Fund; and the overall expenses of the Fund, including the nature and frequency of advisory fee payments. Pursuant to Section 852(b)(3) of the Internal revenue Code, the Fund designated $1,881,291 as long-term capital gain distribution for the year ended September 30, 2016. Following further discussion of the Funds current and projected asset levels, expectations for growth, and levels of fees, theBoard determined that the Funds fee arrangements were fair and reasonable in relation to the nature and quality of the services provided by AHIC. hb```e``"g\dd@ A( Morgan Stanley is differentiated by the caliber of our diverse team. Visit website Social Media Links Most Recent Annual Report MOST RECENT 2021 Annual Report and Form 10K View PDF View Form 10K (HTML) No assurances can be given that the Fund will pay a dividend in the future; or, if any such dividend is paid, the amount or rate of the dividend. Quarterly repurchases by the Fund of its shares typically will be funded from available cash or sales of portfolio securities. Borrowings under the BNP arrangement bear interest at the 3 month LIBOR plus 95 basis points at the time of borrowing. Effective February 1, 2016 each Trustee who is not affiliated with the Fund or the Adviser received a quarterly fee of $5,000, as well as reimbursement for any reasonable expenses incurred attending the meetings, and $500 per each special telephonic meeting. 3.21%---- Ta Realty Core Property Fund, L.P. 3.09%---- Clarion Gables Multifamily Trust, L.P. 2.91%---- Brookfield Senior Mezzanine Real Estate Finance Fund . The Trustees determined that the management fee and net expense ratio were higher than some, but not all, of the comparable funds and the peer group averages. The Investment Committee is responsible for ensuring that the decision is communicated to the Portfolio Manager promptly. The Fund has been successful in delivering on its stated objective, delivering returns comprised of income and appreciation with moderate volatility and low correlation to the broad markets. The Fund files a complete listing of portfolio holdings for the Fund with the SEC as of the first and third quarters of each fiscal year on Form N-Q. The ratios of expenses to average net assets and net investment income to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests. 1Q 2020 Alts Performance Summary.pdf. As of the current SAI, Dr. Anderson and Mr. Propper owned no Fund shares. We have global expertise in market analysis and in advisory and capital-raising services for corporations, institutions and governments. Shareholders will be notified in writing of each quarterly repurchase offer and the date the repurchase offer ends (the Repurchase Request Deadline). /pub/content/dam/im/json/imwebdata/im/data/misc/translation/translation.json, /pub/content/dam/im/json/imwebdata/im/data/misc/translation/aggTranslation.json. The Funds private holdings include: Formerly known as the Cornerstone Patriot Fund. Fund Administration and Accounting Fees and Expenses. Submission of Matters to a Vote of Security Holders. Our culture of access and inclusion has built our legacy and shapes our future, helping to strengthen our business and bring value to clients. After reviewing the foregoing information and further information in the memorandum from CenterSquare (e.g., CenterSquares Form ADV and descriptions of the Advisors business and compliance program), the Board concluded that the nature, extent, and quality of the services to be provided by CenterSquare were satisfactory and adequate for the Fund. As a result, the Adviser may cast different votes on behalf of different Clients. In general, proxy voting is an important right of shareholders and reasonable care and diligence must be undertaken to ensure that such rights are properly and timely exercised. Over the past twelve months and through careful portfolio composition, we reduced our exposure to the multi-family sector by 603 basis points and increased our office exposure by 482 basis points. $35,000,000 commitment to the Morgan Stanley Prime Property Fund in 2005; This investment is part of the 8% ERSRI policy allocation to inflation protection strategies. The Adviser may determine not to vote a Proxy if doing so would not be in a Clients best interest, such as when the Adviser determines that the cost of voting the Proxy exceeds the expected benefit to the Client. Item 10. Please note that not all sub-funds are available in all jurisdictions and sub-funds are not available to persons resident in jurisdictions where such distribution or availability would be contrary to local laws or regulations. The Fund engages in a continuous offering of shares and operates as an interval fund that offers quarterly repurchases of shares at net asset value. The tax character of the Funds distributions, in isolation, does not reveal much information about whether the distributions are supported by the Funds returns. The Trustees also noted that AHICs fee, combined with the Advisers fee, were similar to the management fees for funds with similar investment strategies. We believe that our audits provide a reasonable basis for our opinion. The Trustees noted that CenterSquare assists the Adviser in seeking to achieve the Funds investment objective to generate a balanced return comprised of current income and capital appreciation with moderate volatility and low correlation to the broader markets by pursuing strategically investing across private institutional real estate investment funds as well as a diversified set of public real estate securities. If a material conflict of interest exists for the Portfolio Manager that normally would have formulated the proxy voting recommendation for the Underlying Fund, such Portfolio Manager should disclose the conflict to the CCO. clark county wa superior court case search, magic forest lake george closing, 2 bedroom houses in jackson, tennessee,

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