The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.

Morgan Stanley Investment Management
London-headquartered Morgan Stanley Investment Management (MSIM), which has $1.7 trillion in assets under management, has just launched the Morgan Stanley European Private Income Fund (EPIF), a Part II SICAV that enables investors seeking income to gain exposure to the European direct lending market in a semi-liquid structure.

“We’re pleased to offer our clients access to income opportunities within the European direct lending market, which we believe offers the prospect of attractive risk-adjusted returns,” said Mark Jochims, head of European private credit for MSIM.

EPIF aims to underwrite a diverse portfolio of privately negotiated, senior secured term loans to European middle market companies with leading market positions, high barriers to entry and proven management teams, which position them to generate strong and stable free cash flows. To provide enhanced liquidity for investors, EPIF is expected to invest about 10 per cent of its capital in syndicated loans and bonds. The fund will also promote some environmental and/or social characteristics under Article 8 of the EU Sustainable Finance Disclosure Regulation (SFDR) framework.

It aims to take advantage of the Morgan Stanley private credit platform. With the Part II SICAV structure, investors can invest via monthly subscriptions and benefit from both expected monthly income distributions and expected quarterly liquidity after a one-year lock-up period, subject to a quarterly 5 per cent fund-level redemption gate and certain other restrictions.

“We’re delighted our fund can provide private wealth banks and managers with access to private credit,” Federico Vettore, head of European private markets for wealth at MSIM, said. “MSIM is focused on bringing private markets solutions to eligible European clients across the region, leveraging our deep and extensive private markets and US wealth sector experience.”

Momentum Global Investment Management
UK-based Momentum Global Investment Management (MGIM) has just launched Momentum Real Assets Growth and Income fund (RAGI). The fund will give advisors access to a range of optimised real asset and alternatives within a single fund.

RAGI aims to deliver returns that are not correlated to traditional markets, offering inflation linked income and growing asset values for investors. The strategy will be diversified across four sub-asset classes of investment trusts – property, infrastructure, specialist financial, private equity) – in addition to allocation to non-correlated assets and liquidity assets (gold, gilts, cash).

The specialist team responsible for the management of the fund, led by Richard Parfect and Gary Moglione, has had responsibility for the specialist asset and alternatives component of the company’s diversified fund range.