Morgan Stanley unveils multi-asset fund

This follows a Global Tactical Asset Allocation (GTAA) investment philosophy and has exposure to a range of alpha sources, while maintaining a high degree of diversification uncorrelated to global risk factors. The investment universe includes currencies via forward and non-deliverable forward contracts; equities via futures and total return swaps; and fixed-income via swaps. Both long and short positions are taken, while commodities exposure is obtained via a long position in a Morgan Stanley commodities strategy. James Dilworth, head of the firm's Europe, Middle East and Africa busin...