SEC. gov The regulatory environment for private Portfolio Funds continues to evolve, and changes in the regulation of private Portfolio Funds may adversely affect the value of the Fund’s investments and the ability of the Fund to implement its investment strategy (including the use of leverage)
Morgan Stanley and iCapital Launch Tender Offer Fund Targeting Private . . . The fund intends to provide monthly net asset value reporting and quarterly redemptions from 0% to 3% According to the filing, it will not charge an income incentive or performance fee The management fee and acquired fund fees and expenses have yet to be determined
Liquidity Funds - Morgan Stanley The portfolio will be required to impose a mandatory liquidity fee when a fund experiences daily net redemptions that exceed 5% of net assets, unless the fund’s liquidity costs are de minimis
A Forced Retreat: Inside the Morgan Stanley Gating As investors find themselves trapped behind gates at Morgan Stanley and BlackRock, specialized firms are already emerging to buy these "locked" shares at steep discounts, providing a liquidity release valve for a high price
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