MJIIX — Core Plus Fixed Income Portfolio
Data updated: 2023-08-25
MJIIX — Core Plus Fixed Income Portfolio. Total / Aggregate Bond · $80.66M AUM · 0.90% expense ratio. Holdings, fees, performance and SEC filings.
MJIIX Fund Overview
MJIIX — Core Plus Fixed Income Portfolio is a US mutual fund managed by Morgan Stanley Variable Insurance Fund Inc., categorised as Total / Aggregate Bond. 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 Variable Insurance Fund Inc.
- Category: Total / Aggregate Bond
- Assets under management: $80.66M
- 1-year return: -1.0%
- Ticker: MJIIX
- SEC CIK: 0001011378
- SEC series ID: S000004166
- Share class ID: C000011738
MJIIX Investment Objective and Strategy
Core Plus Fixed Income Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Morgan Stanley Variable Insurance Fund Inc..
Investment objective
The Fund seeks above-average total return over a market cycle of three to five years by investing primarily in a diversified portfolio of fixed income securities.
Principal investment strategy
"Under normal circumstances, at least 80% of the Fund's assets will be invested in fixed income securities. This policy may be changed without shareholder approval; however, you would be notified in writing of any changes. The Adviser invests primarily in a diversified mix of U.S. dollar-denominated investment grade fixed income securities, particularly U.S. government, corporate, municipal, mortgage- and asset-backed securities. The Fund will ordinarily seek to maintain an average weighted maturity between five and ten years. The Adviser employs a value approach toward fixed income investing and evaluates the relative attractiveness among corporate, mortgage and U.S. government securities, and also may invest in non-dollar-denominated issues. The Adviser relies upon value measures to guide its decisions regarding sector, security and country selection, such as the relative attractiveness of the extra yield offered by securities other than those issued by the U.S.
Treasury. The Adviser also measures various types of risk by monitoring interest rates, inflation, the shape of the yield curve, credit risk, prepayment risk, country risk and currency valuations. The Fund may engage in frequent trading to achieve its investment objective. The Fund may invest opportunistically in fixed income securities that are rated below ""investment grade"" or are not rated, but are of equivalent quality. These fixed income securities are often referred to as ""high yield securities"" or ""junk bonds."" High yield securities are fixed income securities rated below Baa3 by Moody's Investors Service, Inc. (""Moody's""), below BBB- by S&P Global Ratings Group, a division of S&P Global Inc. (""S&P"") or below BBB- by Fitch Ratings Inc. (""Fitch""), or if unrated, considered by the Adviser to be of equivalent quality.
The Fund may also invest in public bank loans made by banks or other financial institutions. Public bank loans are privately negotiated loans that are not publicly traded for which information about the issuer has been made publicly available. These public bank loans may be rated investment grade or below investment grade. In addition, the Fund may invest in convertible securities. The Fund's mortgage securities may include collateralized mortgage obligations (""CMOs""), commercial mortgage-backed securities (""CMBS""), stripped mortgage-backed securities (""SMBS"") and inverse floating rate obligations (""inverse floaters""). In addition, the Fund may invest in to-be-announced pass-through mortgage securities, which settle on a delayed delivery basis (""TBAs""). The Fund may also invest in securities of foreign issuers, including issuers located in emerging market or developing countries.
The securities in which the Fund may invest may be denominated in currencies other than U.S. dollars. The Fund may also invest in restricted and illiquid securities. The Fund may, but it is not required to, use derivative instruments for a variety of purposes, including hedging, risk management, portfolio management or to earn income. The Fund's use of derivatives may involve the purchase and sale of derivative instruments such as futures, options, swaps and other related instruments and techniques. The Fund may utilize foreign currency forward exchange contracts, which are also derivatives, in connection with its investments in foreign securities. Derivative instruments used by the Fund will be counted toward the Fund's 80% policy discussed above to the extent they have economic characteristics similar to the securities included within that policy."
MJIIX Performance
Total returns for MJIIX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -1.0% |
| 3 years (annualised) | -3.3% |
MJIIX Risk Information
Risk metrics for MJIIX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 8.8%
MJIIX Costs and Fees
MJIIX costs about $90 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.90%
- Gross expense ratio: 1.23%
- Portfolio turnover: 272%
- Brokerage commissions: 0.53 bps of average net assets (SEC N-CEN)
MJIIX Cashflows
Over the 12 months to 2023-06, Core Plus Fixed Income Portfolio had net inflows of $1.55M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-06 | −$2.34M |
| 2023-05 | −$802.51K |
| 2023-04 | $118.91K |
| 2023-03 | −$371.91K |
| 2023-02 | −$446.09K |
| 2023-01 | −$1.14M |
MJIIX Debt Constituents
No individual debt constituents are reported in Core Plus Fixed Income Portfolio's latest SEC N-PORT filing.
MJIIX Prospectus and SEC Filings
Official Core Plus Fixed Income Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-04-21
- Prospectus (485BPOS) — filed 2022-04-19
- Prospectus supplement (497) — filed 2021-06-30
- Portfolio holdings (N-PORT) — filed 2023-08-25
- Portfolio holdings (N-PORT) — filed 2023-05-26
- Portfolio holdings (N-PORT) — filed 2023-02-27
- Annual census (N-CEN) — filed 2023-03-14
- Annual census (N-CEN) — filed 2022-03-11
Related Funds
Other Total / Aggregate Bond 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.