Morgan Stanley Global Tactical Asset Allocation

  • Trading Symbol: FPRPC

Morningstar® Snapshot*

Returns 4 out of 5, Above Average Returns
Risk of this Category Category Risk Rating:6, where 1 is Lower and 10 is Higher

*Data provided by Morningstar. Please click on the indicator above to learn more about comparison groups and methodology.


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AS OF 11/30/2014
Average Annual Returns
YTD (Daily)* 1 Yr 3 Yr 5 Yr Life
FPRPC +2.50% +4.53% +10.63% +6.96% +2.74%
*AS OF 12/19/2014; Value is cumulative

Hypothetical Growth of $10,000

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Shows growth of hypothetical $10,000 investment in Morgan Stanley Global Tactical Asset Allocation fund over the selected time period

The chart illustrates the performance of a hypothetical $10,000 investment made in the fund ten years ago or on commencement of operations (whichever is later). Figures include reinvestment of capital gains and dividends, and reflect the effects of the annual annuity charge and the underlying fund's expenses. Figures do not reflect the effects of any applicable redemption fees, maintenance charges, or surrender fees, which would lower these figures. This chart is not intended to imply any future performance of the fund.

The performance data featured represents past performance, which is no guarantee of future results. Investment returns and the principal value of a variable annuity will fluctuate; therefore, you may have a gain or loss when money is withdrawn or received. Fund performance fluctuates and currently may be significantly higher or lower than stated.

Fund Manager(s)

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Cyril Moull-Berteaux since 8/1/2011 Mark A. Bavoso since 9/16/2010

Fund Overview


The investment seeks total return.


The fund seeks to achieve total return by investing in a blend of equity and fixed income securities of U.S. and non-U.S. issuers. In seeking to achieve this investment objective, it will implement a global tactical approach to achieving total return, and to control risk and volatility. The fund may invest in real estate investment trusts ("REITs") and mortgage-related or mortgage-backed securities. It may also invest in restricted and illiquid securities. The fund may invest a portion of its assets in below investment grade fixed income securities (commonly known as "junk bonds") and repurchase agreements.


Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, economic or other developments. These risks may be magnified in foreign markets. In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Additional risk information for this product may be found in the prospectus or other product materials, if available.


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Morningstar Category
Tactical Allocation
Subaccount Inception
Unit Value
Turnover Rate
Net Assets ($M)
12 Month Low-High
$11.79 - $12.83

Top 10 Holdings

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AS OF 9/30/2014
Top 10 Holdings
Us 10yr Note (Cbt)dec14 Xcbt 20141219 14.44%
Bmi28bcs1 Irs Usd R V 03mlibor 1 Ccpvanilla 13.65%
Bmi28bcs1 Irs Usd P F .75500 2 Cppvanilla 13.65%
Bmi2cbvj5 Irs Usd R V 03mlibor 1 Ccp 6.83%
Bmi2cbvj5 Irs Usd P F .72150 2 Ccp 6.82%
Bmi2ap2x7 Irs Usd R V 03mlibor 1 Ccpcdx 6.64%
Bmi2ap2x7 Irs Usd P F .64550 2 Ccpcdx 6.62%
Euro Stoxx 50 Dec14 Xeur 20141219 6.54%
Us 2yr Note (Cbt) Dec14 Xcbt 20141231 5.98%
Mini Msci Emg Mkt Dec14 Ifus 20141219 4.70%
% of Total Portfolio 85.87%
Total # of holdings: 1507 as of 9/30/2014

Quarter-End Average Annual Total Returns

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AS OF 9/30/2014; *SUBACCOUNT INCEPTION 5/1/2006 Glossary definition opens in new window.

1.33% AS OF 5/1/2014
1 Yr 3 Yr 5 Yr 10 Yr Life*
Morgan Stanley Global Tactical Asset Allocation 9.11% 12.98% 7.48% -- 2.82%
MSCI AC World (N) 11.32% 16.61% 10.07% 7.28% --
Tactical Allocation 5.81% 6.82% 6.31% 4.53% --

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