Morgan Stanley Inst US Md Cp Value IMPMVX

Changes are afoot at Morgan Stanley Institutional US Mid Cap Value.

On Oct. 19, Morgan Stanley announced it was selling the retail arm of its asset-management business to Invesco IVZ so that it can focus on the institutional space. Once the deal closes, which is expected in mid-2010, this fund and its counterpart, Van Kampen American Value MSAVX, will fall under Invesco.  Read more 

The fund's management team holds a compact portfolio of beaten-down companies with catalysts for change. The managers are willing to hold on to winners and to make significant sector bets. In general, the team is more value-oriented than former management had been, and it attempts to beat the Russell Midcap Value Index.  Read more 

Jim Gilligan, the longtime lead manager of this fund's management team, stepped down on Jan. 1, 2009. Tom Copper, who has been on the team since 2003, took over as lead manager for the mid-cap strategy. John Mazanec, formerly of Wasatch Small Cap Value WMCVX, joined in mid-2008 and supplements Copper's efforts here.  Read more 

The fund's management team has a successful track record keeping a compact portfolio of undervalued and underearning companies with catalysts for improvement. There are some unanswered questions about the fund's future given Invesco's recent purchase of Morgan Stanley's retail business, but as long as the management team remains in place, which seems likely, there's less cause for concern.  Read more