Close

Morgan Stanley Investment Management Announces Direct Investment in Indian Securities from the United States for Morgan Stanley India Investment Fund, Inc.

December 9, 2016 4:30 PM EST

NEW YORK--(BUSINESS WIRE)-- Morgan Stanley Investment Management announced today that the Board of Directors (the “Board”) of Morgan Stanley India Investment Fund, Inc. (NYSE: IIF) (the “Fund”) approved a proposal for the Fund to cease doing business in Mauritius and instead invest directly in Indian securities from the United States. The proposal was approved by the Board in order to respond to the implementation of the Indian General Anti-Avoidance Rule and Protocol to the Mauritius-India Double Tax Treaty, which, among other things, will result in the removal of the exemption on short-term capital gains tax effective for sales by the Fund of Indian securities purchased on or after April 1, 2017. The Fund’s investment adviser, Morgan Stanley Investment Management Inc., expects this transition to be completed prior to April 1, 2017.

Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 594 investment professionals around the world and $417 billion in assets under management or supervision as of September 30, 2016. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.

Morgan Stanley is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 43 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful under the securities laws of any such state.

Investing involves risk and it is possible to lose money on any investment in the Fund.

For more information:
Morgan Stanley
1-800-231-2608

Source: Morgan Stanley Investment Management



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Press Releases

Related Entities

Morgan Stanley