It has also puzzled industry observers as to why Morgan hasn't merged the funds with the BlackRock alternative and hedge fund unit.
Among the funds faring the worst are Van Kampen money market funds. But other funds are also doing poorly, among them the Van Kampen Equity & Income Fund, down 2.3% for the year, a full 3.4 percentage points below its benchmark.
As a result, assets in the funds overall have declined 12.7% from a year ago, to $71.7 billion as of March, down from $82.2 billion.
Morgan Stanley Co-President James Gorman recently said the funds performance has been suboptimal. We do have meaningful performance issues, particularly in our retail funds business, [now a] major focus.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.