Record Date announced to convert Morgan Stanley Growth Fund into open ended scheme

Morgan Stanley Investment Management Private Ltd had announced about the decision of the Board of Trustees of Morgan Stanley Mutual Fund ('MSMF') to convert Morgan Stanley Growth Fund ["the Scheme" or "MSGF"] into an open ended scheme.

Morgan Stanley Investment Management Private Ltd has now announced that "Board of Directors ('BoD') of Morgan Stanley Investment Management Private Ltd ('AMC') and Board of Trustees ('BoT') have fixed December 15, 2008 as (Record Date) to take into account the complete list of unit holders of MSGF. Please note that option exercise letter would be dispatched providing such unit holders an opportunity to exercise options i.e. [i] to continue to remain invested in MSGF; [ii] to redeem their units [partly or fully]; or [iii] switch their units [partly or fully] in Morgan Stanley A.C.E Fund of MSMF during exit option period commencing from December 18, 2008 and expiring on January 16, 2009. After the expiry of the exit option period, MSGF would become an open-ended fund.

We would like to further apprise you that since during the exit option period, unit holders have the option to redeem at applicable NAV declared by the AMC on every business day and thereafter; requirement of listing MSGF on Stock Exchanges is not required.

The Morgan Stanley Growth Fund was trading at Rs.28.30, up by Rs.0.74 or 2.69%. The stock hit an intraday high of Rs.29.57 and low of Rs.27.71.

The total traded quantity was 229897 compared to 2 week average of 19373.

Source : Equity Bulls

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