MABBX — U.S. Focus Real Estate Portfolio
Data updated: 2024-11-27
MABBX — U.S. Focus Real Estate Portfolio. United States Real Estate · $5.37M AUM · 1.85% expense ratio. Holdings, fees, performance and SEC filings.
MABBX Fund Overview
MABBX — U.S. Focus Real Estate Portfolio is a US mutual fund managed by Morgan Stanley Institutional Fund INC, categorised as United States Real Estate. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Morgan Stanley Institutional Fund INC
- Category: United States Real Estate
- Assets under management: $5.37M
- 1-year return: 30.1%
- Ticker: MABBX
- SEC CIK: 0000836487
- SEC series ID: S000073484
- Share class ID: C000230426
MABBX Investment Objective and Strategy
U.S. Focus Real Estate Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Morgan Stanley Institutional Fund INC.
Investment objective
The U.S. Focus Real Estate Portfolio (the Fund) seeks to provide current income and long-term capital appreciation.
Principal investment strategy
Under normal circumstances, at least 80% of the Funds net assets (plus any borrowings for investment purposes) will be invested in securities of companies in the U.S. real estate industry, including U.S. real estate investment trusts (REITs), U.S. real estate operating companies (REOCs) and U.S. companies with substantial real estate-related holdings and/or services related to the real estate industry, including, but not limited to, leasing, real estate management, brokers, and building products. This policy may be changed without shareholder approval; however, shareholders would be notified upon 60 days notice in writing of any changes. The Fund ?has a fundamental policy (i.e., one that cannot be changed without shareholder approval) of investing 25% or more of its total assets ?in the real estate industry.
The Fund may invest in equity securities, including common and preferred stocks, convertible securities and equity-linked securities, rights and warrants to purchase equity securities, depositary receipts including American Depositary Receipts (ADRs), shares of investment companies (including those which may be managed by the Adviser or its affiliates) , limited partnership interests and other specialty securities having equity features. A company is considered to be in the U.S. real estate industry if it meets the following tests: (1) a company is considered to be from the United States (i) if its securities are traded on a recognized stock exchange in the United States, (ii) if alone or on a consolidated basis it derives 50% or more of its annual revenues or profits from either goods produced, sales made or services performed in the United States or has at least 50% of its assets in the United States or (iii) if it is organized or has a principal office in the United States; and (2) a company is considered to be in the real estate industry if it (i) derives at least 50% of its revenues or profits from the ownership, operation, development, construction, management, financing, leasing or sale of residential, commercial or industrial real estate and land; (ii) derives at least 50% of its revenues or profits from products or services provided or related to residential, commercial or industrial real estate and land; or (iii) has at least 50% of the fair market value of its assets invested in residential, commercial or industrial real estate and land.
The Adviser actively manages the Fund using a disciplined, bottom-up, fundamentally-driven investment methodology. The Fund will invest in those securities for which the Adviser determines to have the best forward total return potential based upon relative valuation. The Adviser will assess real estate specific factors, broader equity factors, as well as environmental, social and governance factors (also referred to as ESG) in its fundamental analysis in order to calculate appropriate valuation metrics. Top-down considerations are incorporated into the portfolio construction process, and the Adviser seeks to achieve exposure across sectors and integrate forecasted fundamental inflections and macroeconomic considerations, among other factors. The Adviser actively selects positions in a limited number of equity securities.
The Adviser generally considers selling a portfolio holding based upon the relative valuation ranking of securities in the investment universe. The Fund may invest without limit in all types of REITs, including timber REITs, tower REITs and other REITs. The Fund also may invest in exchange-traded funds (ETFs). When deemed by the Adviser to be relevant to its evaluation of a companys financial performance and when applicable information is available, the Adviser considers financially material ESG issues which may impact the prospects of an issuer or long-term stock price performance of a company. When considered, one or more ESG issues are taken into account alongside other factors in the investment decision-making process and are not the sole determinant of whether an investment can be made or will remain in the Funds portfolio.
MABBX Holdings
Top 10 holdings of U.S. Focus Real Estate Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| American Tower Corp | 9.03% |
| Equinix Inc | 8.02% |
| Welltower Inc | 7.91% |
| Public Storage | 6.35% |
| AvalonBay Communities Inc | 5.77% |
| SBA Communications Corp | 4.66% |
| Agree Realty Corp | 4.09% |
| Digital Realty Trust Inc | 4.03% |
| Prologis Inc | 3.79% |
| Weyerhaeuser Co | 3.65% |
MABBX Portfolio Allocation
Asset-class allocation of U.S. Focus Real Estate Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 98.2% |
| Cash & Equivalents | 0.5% |
MABBX Performance
Total returns for MABBX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 30.1% |
| 3 years (annualised) | 1.2% |
MABBX Risk Information
Risk metrics for MABBX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 17.0%
MABBX Costs and Fees
MABBX costs about $185 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.85%
- Gross expense ratio: 11.84%
- Portfolio turnover: 92%
- Brokerage commissions: 7.90 bps of average net assets (SEC N-CEN)
MABBX Cashflows
Over the 12 months to 2024-09, U.S. Focus Real Estate Portfolio had net inflows of $103.91K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-09 | $0 |
| 2024-08 | $0 |
| 2024-07 | $34.06K |
| 2024-06 | $0 |
| 2024-05 | $0 |
| 2024-04 | $28.61K |
MABBX Debt Constituents
No individual debt constituents are reported in U.S. Focus Real Estate Portfolio's latest SEC N-PORT filing.
MABBX Prospectus and SEC Filings
Official U.S. Focus Real Estate Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-04-29
- Prospectus (485BPOS) — filed 2023-04-28
- Prospectus supplement (497) — filed 2023-12-07
- Portfolio holdings (N-PORT) — filed 2024-11-27
- Portfolio holdings (N-PORT) — filed 2024-08-23
- Portfolio holdings (N-PORT) — filed 2024-05-29
- Annual census (N-CEN) — filed 2024-03-13
- Annual census (N-CEN) — filed 2023-03-14
Related Funds
Other United States Real Estate funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.