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.