- Last Ratings Update:01/31/2015
- Price as of 01/31/2015 :$15.25
- Net Assets:$260.32 Million
- Peer Rank:135 of 277
- 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 3.34% since inception. More recently, the fund has generated a total return of 6.36% in the last five years, 4.30% in the last three years, and 4.46% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 33% of them. It has also outpaced 38% of its competitors on a three year basis and 45% of them over the last year for the period ending 1/31/2015. On a year to date basis, APF has returned 2.69%.
Downside risk has been below average. APF has a draw down risk of -13.96%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 13.3%. This fund has had moderate volatility in its monthly performance over the last 36 months. As of 1/31/2015, the fund was trading at a price of $15.25, which is 2.0% below its 52-week high of $15.56 and 4.5% above its 52-week low of $14.60.
High expense ratio hinders performance. On total assets of $260.32 million, APF maintains a high expense ratio compared to its Non-US Equity peers of 1.31% 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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