- Last Ratings Update:11/30/2014
- Price as of 11/30/2014 :$16.19
- Net Assets:$260.32 Million
- Peer Rank:106 of 275
- 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 3.30% since inception. More recently, the fund has generated a total return of 4.79% in the last five years, 7.06% in the last three years, and -3.18% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 28% of them. It has also outpaced 41% of its competitors on a three year basis and 18% of them over the last year for the period ending 11/30/2014. On a year to date basis, APF has returned -1.92%.
Downside risk has been below average. APF has a draw down risk of -13.65%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 14.3%. This fund has had moderate volatility in its monthly performance over the last 36 months. As of 11/30/2014, the fund was trading at a price of $16.19, which is 1.5% below its 52-week high of $16.43 and 1.2% above its 52-week low of $16.00.
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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