IIF - Morgan Stanley India Investment Fund

What this means for you

Saba has told the regulator it may push for changes at this fund. That usually means asking the fund to buy back shares at close to the full value of its holdings, to change who runs it, or to close down and pay holders out.

Nothing is required of you now. If the fund itself announces a buy-back or a vote, it appears in the box above with the date by which you would need to act.

Large investors can also sell down and walk away. We show every notice they file, the day it is filed.

Email me if this changes

What happened, and when

1. Aug 14, 2026

   Karpus now owns 5.1%, as a passive investor.

   Original document →

2. July 30, 2026

   Saba raised its stake to 9% (from 8%). It has said it may push for changes.

   Original document →

3. July 24, 2026

   City of London raised its stake to 11.1% (from 10.1%), as a passive investor.

   Original document →

4. May 15, 2026

   City of London raised its stake to 10.1% (from 6.8%), as a passive investor.

   Original document →

5. March 24, 2026

   Saba cut its stake to 8% (from 9.2%). It has said it may push for changes.

   Original document →

About this fund

• Run by Morgan Stanley Investment Management Inc. Part of the Morgan Stanley fund family. As of Dec 31, 2025, from the fund's yearly report. Original document →
• Size: about $241 million of holdings, as of June 30, 2026. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 5% on top of its own money, as of June 30, 2026. Borrowed money makes gains and losses bigger. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 1.1% a year in management fees; 1.4% a year in total, including interest on borrowed money. Fiscal year ended Dec 31, 2025. As of Dec 31, 2025, from the fund's yearly report. Original document →
• Payouts: last fiscal year (ended Dec 31, 2025) the fund paid $1.99 a share. $1.97 came from gains; $0.02 was your own money back, not income. As of Dec 31, 2025, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (Dec 31, 2025): $27.91. The shares traded at $24.98, about 10.5% below that. As of Dec 31, 2025, from the fund's yearly report. Original document →
• How the holdings did: up 10.9% over the last three months we have (April-June 2026), before the share price is taken into account. Over the last 12 months: -12.5%. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• How the holdings did over the fiscal year (ended Dec 31, 2025): the value of the holdings returned -0.7%. How the share price did: the shares returned +7.1% over the same year, counting payouts and the change in the market price. As of Dec 31, 2025, from the fund's annual report. Original document →
• First reported to the regulator in 1994.

What the fund holds

Almost all shares (99%). About 1% issued in the U.S.

1. ICICI Bank - 10.3%
2. HDFC Bank - 5.8%
3. Axis Bank - 5.3%
4. Apollo Hospitals Enterprise - 3.9%
5. Mahindra & Mahindra - 3.9%
6. Shriram Finance - 3.4%
7. Bharti Hexacom - 3.3%
8. Mankind Pharma - 3.2%
9. Grasim Industries - 3.1%
10. Bajaj Finance - 3.1%

As of June 30, 2026, from the fund's quarterly holdings report. Original document →