MSULX — U.s. Real Estate Portfolio
Data updated: 2024-11-27
MSULX — U.s. Real Estate Portfolio. United States Real Estate · $29.03M AUM · 1.55% expense ratio. Holdings, fees, performance and SEC filings.
MSULX Fund Overview
MSULX — U.s. 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: $29.03M
- 1-year return: 31.8%
- Ticker: MSULX
- SEC CIK: 0000836487
- SEC series ID: S000002821
- Share class ID: C000104301
MSULX Investment Objective and Strategy
U.s. 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. Real Estate Portfolio (the ""Fund"") seeks to provide above average current income and long-term capital appreciation by investing primarily in equity securities of companies in the U.S. real estate industry, including real estate investment trusts (""REITs"")."
Principal investment strategy
"Under normal circumstances, at least 80% of the Fund's assets will be invested in equity securities of companies in the U.S. real estate industry. This policy may be changed without shareholder approval; however, you would be notified upon 60 days' notice in writing of any changes. The Adviser seeks a combination of above-average current income and long-term capital appreciation by investing primarily in equity securities of companies in the U.S. real estate industry, including REITs. The Fund focuses on REITs as well as real estate operating companies (""REOCs"") that invest in a variety of property types and regions. The Fund's Adviser may consider information about environmental, social and governance issues (also referred to as ESG) in its bottom-up stock selection process when making investment decisions.
The Fund's Adviser may engage with company management regarding corporate governance practices as well as what the Fund's Adviser deems to be materially important environmental and/or social issues facing a company. The Adviser actively manages the Fund using a combination of top-down and bottom-up methodologies. The Adviser's proprietary models drive the bottom-up value-driven approach for stock selection. The top-down portion seeks diversified exposure to all major asset classes with an overweighting to property markets that offer the best relative valuation. The bottom-up research process strongly influences the Adviser's perspective on which property markets it believes provide better relative value and growth prospects and, consequently, affects its decision to overweight or underweight a given property market.
The Adviser generally considers selling a portfolio holding if the holding's share price shifts to the point where the position no longer represents an attractive relative value opportunity versus the underlying value of its assets and/or growth prospects or versus other securities in the investment universe."
MSULX Holdings
Top 10 holdings of U.s. Real Estate Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Equinix Inc | 9.07% |
| Welltower Inc | 8.69% |
| Prologis Inc | 7.27% |
| AvalonBay Communities Inc | 5.55% |
| Public Storage | 5.04% |
| Realty Income Corp | 4.84% |
| Digital Realty Trust Inc | 4.71% |
| Extra Space Storage Inc | 4.51% |
| Simon Property Group Inc | 4.05% |
| VICI Properties Inc | 3.89% |
MSULX Portfolio Allocation
Asset-class allocation of U.s. Real Estate Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 98.6% |
| Cash & Equivalents | 1.0% |
MSULX Performance
Total returns for MSULX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 31.8% |
| 3 years (annualised) | 3.1% |
| 5 years (annualised) | 1.7% |
MSULX Risk Information
Risk metrics for MSULX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 17.3%
MSULX Costs and Fees
MSULX costs about $155 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.55%
- Gross expense ratio: 2.68%
- Portfolio turnover: 53%
- Brokerage commissions: 6.17 bps of average net assets (SEC N-CEN)
MSULX Cashflows
Over the 12 months to 2024-09, U.s. Real Estate Portfolio had net outflows of $6.04M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-09 | −$214.51K |
| 2024-08 | −$512.50K |
| 2024-07 | −$396.78K |
| 2024-06 | −$305.38K |
| 2024-05 | −$823.87K |
| 2024-04 | −$735.80K |
MSULX Debt Constituents
No individual debt constituents are reported in U.s. Real Estate Portfolio's latest SEC N-PORT filing.
MSULX Prospectus and SEC Filings
Official U.s. 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.