Morgan Stanley Alternative Investment Partners, which
advises Morgan Stanley’s funds of funds business,
is set to launch a global macro dedicated product to sit along
side the Morgan Stanley Global L/S Fund (see story, page 27).
Morgan Stanley was considered to be among the first
institutional FoHF players with its original portfolio coming
from the hedge fund investments of the Weyerhaeuser group.
Today, the bank is the seventh-largest funds of funds in the
world with nearly $20 billion in assets.
According to the last RIC survey, the bank has some $2.5
billion in RIC structures. At the end of December 2007, the
Morgan Stanley Institutional Fund of Hedge Funds had $3.2
billion alone but the number has been slowly decreasing to $1.9
billion in 2008, $1.6 billion 2009 and $1.3 billion in
Morgan Stanley Institutional Fund of Hedge Funds was