Morgan Stanley growth fund (MSGF), a close-ended equity-oriented fund will be converted to open-end from January 2009.
The growth fund was launched in India in January 1994 as a closed-ended fund and has been listed on the Bombay, National, Calcutta, Delhi, Madras and Ahmedabad stock exchanges. Under the new scheme, MSGF will be converted into an open-ended fund after completion of the exit option period.
Unit holders of MSGF will be given an option to redeem the fund at the net asset value (NAV) without any exit load. Other options will be to remain invested with the fund or to switch fully or partially to other funds of Morgan Stanley Mutual Fund.
The fund house will communicate this conversion individually to every unit holder of MSGF.