- Last Ratings Update:08/31/2014
- Price as of 08/31/2014 :$17.26
- Net Assets:$328.73 Million
- Peer Rank:149 of 270
- Investment Rating:C-
We rate Morgan Stanley Asia Pacific Fund at C-. This overall rating indicates it is among the top 10% of all closed end funds in its peer group. Positive factors that influence this rating include a low price volatility and low expense structure. The fund invests approximately 94% of its assets in stocks and may be considered for investors seeking a Non-US Equity strategy.
POSITIVES AND RISKS
Total return ranks below peers over the last three years. The Morgan Stanley Asia Pacific Fund has returned an annual rate of 3.67% since inception. More recently, the fund has generated a total return of 6.34% in the last five years, 8.93% in the last three years, and 10.35% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 27% of them. It has also outpaced 43% of its competitors on a three year basis and 29% of them over the last year for the period ending 8/31/2014. On a year to date basis, APF has returned 5.35%.
Downside risk has been below average. APF has a draw down risk of -19.36%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 18.1%. This fund has experienced a high level of volatility in its monthly performance over the last 36 months. As of 8/31/2014, the fund was trading at a price of $17.26, which is 0.2% below its 52-week high of $17.29 and 3.6% above its 52-week low of $16.66.
High expense ratio hinders performance. On total assets of $328.73 million, APF maintains a high expense ratio compared to its Non-US Equity peers of 1.28% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As APF is a closed end fund, it has no front end or back end load.
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