MSD - Morgan Stanley Emerging Markets Debt Fund

What this means for you

Saba owned more than 5% of this fund and has since sold down below that level, so it no longer has to report its holding.

Nothing is required of you. If a large investor buys in again, the notice appears here the day it is filed.

Email me if this changes

What happened, and when

1. Feb 8, 2024

   Saba sold down below 5% and stopped reporting.

   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 $161 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% 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 $0.73 a share. $0.72 of that was income; $0.01 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): $7.87. The shares traded at $7.39, about 6.1% below that. As of Dec 31, 2025, from the fund's yearly report. Original document →
• How the holdings did: up 6.1% over the last three months we have (April-June 2026), before the share price is taken into account. Over the last 12 months: +2.5%. 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 +15.1%. How the share price did: the shares returned +5.8% 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

Mostly bonds (88%), the rest loans and cash and short-term holdings. About 5% issued in the U.S.

7.4% of holdings are in default.

1. Cash and short-term - 3.5%
2. Tanzania 2024 Term Loan A2 - 3.2%
3. Argentina Bonar Bonds - 2.1%
4. Staatsolie Maatschappij Suriname NV 2025 Revolver - 1.5%
5. Federal Rep of Ethiopia, Ethiopia International Bond - 1.4%
6. Turkiye Government International Bonds - 1.4%
7. Republic of Suriname Int, Suriname Government International Bond - 1.3%
8. Oman Government International Bonds - 1.2%
9. Peru Government International Bonds - 1.2%
10. Egypt Government International Bonds - 1.9%

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