Morgan Stanley Files to Launch Biotech Fund

Morgan Stanley has filed a registration statement for a new biotech fund with the Securities and Exchange Commission.

The Morgan Stanley Biotechnology Fund will invest 80% of its assets in biotech companies with a market capitalization of less than $1 billion, according to the filing. As much as 15% of the remaining assets would be invested in securities below the investment grade. The product will be managed by Morgan Stanley Investment Advisors.

The fund will carry a load of 5.25% according to the SEC document.

Morgan Stanley officials could not be reached at press time.

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