Fund Evaluator:
Morgan Stanley Inst Permanence C (MSHOX)
Follow This Fund
Best Performing in Large Growth Over the Last Year
| 39.6% | Tanaka Growth (TGFRX) |
| 35.2% | Fidelity Advisor OTC Z (FOTJX) |
| 35.1% | Fidelity OTC (FOCPX) |
| 34.8% | Chase Growth N (CHASX) |
| 27.3% | Fidelity Advisor Focused Stock Z (FSFOX) |
Fund Details
Morgan Stanley Inst Permanence C Overview
Morgan Stanley Inst Permanence C (MSHOX) is an actively managed U.S. Equity Large Growth fund. Morgan Stanley launched the fund in 2020.
The investment seeks long-term capital appreciation. Under normal market conditions, the Adviser seeks to achieve the fund's investment objective by investing primarily in equity securities of established companies located in the United States, with capitalizations within the range of companies included in the S&P 500® Index. The Adviser emphasizes a bottom-up stock selection process, seeking attractive investments on an individual company basis. In selecting securities for investment, the Adviser typically invests in companies the advisor believes have strong name recognition and sustainable competitive advantages.
About Morgan Stanley Inst Permanence C (MSHOX)
There are 6 members of the management team with an average tenure of 6.34 years: Alexander Norton (2020), Jason Yeung (2020), Armistead Nash (2020), Manas Gautam (2020), Dennis Lynch (2020), Sandeep (Sam) Chainani (2020). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Morgan Stanley Inst Permanence C has 84 securities in its portfolio. The top 10 holdings constitute 58.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Morgan Stanley Inst Permanence C is part of the Equity global asset class and is within the U.S. Equity fund group. Morgan Stanley Inst Permanence C has 3.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 89.2%. There is 3.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Morgan Stanley Inst Permanence C has 7.5% of the portfolio in cash.
Assets Under Management
The fund has $38 million in total assets, which is below the $2 billion average for the Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
MSHOX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Morgan Stanley Inst Permanence C expense ratio is high compared to funds in the Large Growth category. Morgan Stanley Inst Permanence C has an expense ratio of 1.95%, which is 103% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Morgan Stanley Inst Permanence C has a portfolio turnover rate of 61%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 54% for the Large Growth category.
Recently, in the month of July 2026, Morgan Stanley Inst Permanence C returned -1.0%, which earned it a grade of B, as the Large Growth category had an average return of -3.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Morgan Stanley Inst Permanence C has a trailing yield of 0.00%, which is below the 0.06% category average. The fund normally distributes its income annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Morgan Stanley Inst Permanence C Grades
Year to date, the fund has returned 1.5%, 2.3 percentage points worse than the category, which translates into a grade of D. The fund has returned -0.2% over the past year (grade of F), 10.2% over the past three years (grade of F) and 6.1% per year over the past five years (grade of F).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Morgan Stanley Inst Permanence C, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
MSHOX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MSHOX Return (NAV) | -1.0% | -1.6% | -0.2% | 10.2% | 6.1% | na |
| MSHOX Grade | B | F | F | F | F | na |
| +/- Category | 2.0% | -3.3% | -9.3% | -7.9% | -2.6% | na |
| Large Growth Avg | -3.1% | 1.7% | 9.1% | 18.1% | 8.7% | 15.4% |
| MSHOX Tax Cost Ratio | na | na | 4.5% | 3.6% | 3.2% | na |
MSHOX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MSHOX Return (NAV) | 1.5% | 16.8% | 12.6% | 25.1% | -21.5% | 15.5% | na | na | na | na | na |
| MSHOX Grade | D | B | F | F | A | F | na | na | na | na | na |
| +/- Category | -2.3% | 1.1% | -17.1% | -13.7% | 10.6% | -4.8% | na | na | na | na | na |
| Large Growth Avg | 3.7% | 15.7% | 29.7% | 38.9% | -32.1% | 20.4% | 42.3% | 33.2% | -0.7% | 29.8% | 2.7% |
| Risk Measures | |
| Standard Deviation: | 16.6% |
| Total Risk Index: | 1.35 - High |
| Category Risk Index: | 0.94 - Below Average |
| Category Risk Grade: | B (36% Rank) |
| Beta: | 1.06 |
| R-Squared: | 70% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $3 Mil |
| Fund Total Assets: | $ 0 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 61% |
Management Team
| Number of Managers: 6 | |||
| Longest Tenure: 6.3 years | |||
| Average Tenure: 6.3 years | |||
| Managers (Year): Norton Alexander (2020), Yeung Jason (2020), Nash Armistead (2020), Gautam Manas (2020), Lynch Dennis (2020), Chainani Sandeep (Sam) (2020) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 84 |
| % in Top 10 Holdings: | 58.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 3.4% |
Portfolio Allocation |
|
| Domestic Stock: | 89.2% |
| Foreign Stock: | 3.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 7.5% |
Purchase Information
| Fund Family: | Morgan Stanley |
| Phone Number: | 800-869-6397 |
| Website: | www.morganstanley.com/im |
| Status: | Open |
| Inception Date: | March 31, 2020 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.95% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.96% |
| Share Class: | Morgan Stanley Inst Permanence R6 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
