Morgan Stanley Asia-Pacific Fund, Inc.Find Ratings Reports
- Last Ratings Update:02/28/2018
- Price as of 02/28/2018 :$18.55
- Net Assets:$214.76 Million
- Peer Rank:129 of 348
- Investment Rating:B-
We rate Morgan Stanley Asia Pacific Fund at B-. Positive factors that influence this rating include a greater than above average total return, 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 above peers over the last three years. The Morgan Stanley Asia Pacific Fund has returned an annual rate of 3.89% since inception. More recently, the fund has generated a total return of 5.23% in the last five years, 6.57% in the last three years, and 26.82% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 54% of them. It has also outpaced 57% of its competitors on a three year basis and 90% of them over the last year for the period ending 2/28/2018. On a year to date basis, APF has returned 0.11%.
Downside risk has been below average. APF has a draw down risk of -25.41%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 16.1%. This fund has had moderate volatility in its monthly performance over the last 36 months. As of 2/28/2018, the fund was trading at a price of $18.55, which is 5.5% below its 52-week high of $19.64 and 4.3% above its 52-week low of $17.78.
High expense ratio hinders performance. On total assets of $214.76 million, APF maintains a high expense ratio compared to its Non-US Equity peers of 1.23% 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.
Manager tenure and performance record are net positives. Substandard fund managers tend to be replaced, so a long tenure is usually a good sign that a fund is achieving its objectives. The Morgan Stanley Asia Pacific Fund has been managed by Munib M. Madni for the last 6 years. Over that period, the manager was able to capture more actual gains in excess of the expected return than 62% of other fund managers.