Morgan Stanley Institutional Fund International Advantage Portfolio 

The fund's primary objective is to achieve substantial long-term capital growth. It predominantly allocates its investments to well-established companies operating in international markets, with capitalizations generally mirroring those found within the MSCI All Country World ex USA Index. Typically, at least 80% of its assets are invested in securities issued by entities located outside the United States. The fund has the flexibility to include a wide range of foreign securities, potentially extending to those in developing economies. Furthermore, it may invest in equity instruments, as well as privately placed and restricted securities.