Morgan Stanley Investment Management announced plan to create the septuplet of new portfolios in a Securities and Exchange Commission (SEC) filing, according to a Dow Jones report. The new portfolios will each strive to maintain a stable net asset value of $1 a share.
Included among the new lineup are the Money Market and Prime Portfolios, which will invest in liquid, high-quality US dollar-denominated money market instruments of US and foreign financial and non-financial corporations. Also, Morgan Stanley will be adding the Government Portfolio, which will invest exclusively in obligations of the US government and its agencies and instrumentalities and in repurchase agreements collateralized by those securities.
The new lineup also includes t he Government Securities Portfolio that will invest all of its assets in US Treasury obligations and some US government securities whose interest is generally exempt from state income tax. Also included is the Treasury Portfolio, which will invest exclusively in US Treasury obligations and repurchase agreements collateralized by those securities.
Investing exclusively in US Treasury obligations is the Treasury Securities Portfolio, another new offering. Finally, t he Tax-Exempt Portfolio will invest at least 80% of its assets in high quality short-term municipal obligations.