Emerging Markets Debt Portfolio
Fund
MEMNX
Price as of:
$5.67
+ $0.01
+ 0.18%
Primary Theme
fund company
Name
As of 06/02/2026Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
4.8%
1 yr return
18.1%
3 Yr Avg Return
14.1%
5 Yr Avg Return
3.9%
Net Assets
$110 M
Holdings in Top 10
18.2%
52 WEEK LOW AND HIGH
$5.7
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.37%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 28.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 06/02/2026Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
MEMNX - Profile
Distributions
- YTD Total Return 4.8%
- 3 Yr Annualized Total Return 14.1%
- 5 Yr Annualized Total Return 3.9%
- Capital Gain Distribution Frequency Semi-Annually
- Net Income Ratio 4.59%
- Dividend Yield 14.8%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameEmerging Markets Debt Portfolio
-
Fund Family NameMorgan Stanley Funds
-
Inception DateMay 01, 2017
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerWarren Mar
Fund Description
The Adviser and the Fund’s “Sub-Adviser,” Morgan Stanley Investment Management Limited (“MSIM Limited”), seek to achieve the Fund’s investment objective by investing in fixed-income securities of government and government-related issuers and corporate issuers in emerging market countries. Under normal circumstances, at least 80% of the Fund’s assets will be invested in debt securities of issuers located in emerging market or developing countries. This policy may be changed without shareholder approval; however, you would be notified upon 60 days’ in writing of any changes. Debt and other fixed-income securities are securities that pay a fixed or a variable rate of interest until a stated maturity date. The Adviser and/or the Sub-Adviser consider an issuer to be located in an emerging market or developing country if (i) its principal securities trading market is in an emerging market or developing country, (ii) alone or on a consolidated basis it derives 50% or more of its annual revenue or profits from goods produced, sales made or services performed in emerging market or developing countries or has at least 50% of its assets in emerging market or developing countries, or (iii) it is organized under the laws of, or has a principal office in, an emerging market or developing country. Emerging market or developing countries are countries that major international financial institutions or the Fund’s benchmark index generally consider to be less economically mature than developed nations, such as the United States or most nations in Western Europe.
The Fund’s securities will be denominated primarily in U.S. dollars. The Fund may invest, to a lesser extent, in securities denominated in currencies other than U.S. dollars. The Fund may invest in fixed-income securities that are rated below “investment grade” or are not rated, but are considered by the Adviser and/or Sub-Adviser, as applicable, to be of equivalent quality. These fixed-income securities are often referred to as “high yield securities” or “junk bonds.” High yield securities are fixed-income securities rated by one or more rating agencies below Baa3 by Moody’s Investors Service, Inc. (“Moody’s”), below BBB- by S&P Global Ratings Group, a division of S&P Global Inc. (“S&P”), below BBB- by Fitch Ratings, Inc. (“Fitch”), or the equivalent by another nationally recognized statistical rating organization (“NRSRO”), or, if unrated, considered by the Adviser and/or Sub-Adviser, as applicable, to be of equivalent quality.
The Adviser and/or the Sub-Adviser, as applicable, implement a top down assessment of the global economic environment and the sensitivity of emerging economies in general to worldwide events. In selecting the Fund’s investments, the Adviser and/or the Sub-Adviser, as applicable, analyze the ability of an emerging market country’s government to formulate and implement fiscal and economic policies; socio-political factors, including political risks, election calendars, human development and social stability; and exchange rate and interest rate valuation.
The Fund’s investment process incorporates information about environmental, social and governance issues (also referred to as ESG) via an integrated approach within the investment team’s fundamental investment analysis framework. The Adviser and/or the Sub-Adviser, as applicable, may engage with management of certain issuers regarding corporate governance practices as well as what the Adviser and/or the Sub-Adviser, as applicable, deem to be materially important environmental and/or social issues facing a company.
The Fund’s holdings may range in maturity from overnight to 30 years or more and will not be subject to any minimum credit rating standard. The Adviser and/or the Sub-Adviser, as applicable, generally consider selling a portfolio holding when it determines that the holding no longer satisfies its investment criteria.
The Fund may, but it is not required to, use derivatives and similar instruments for a variety of purposes, including hedging, risk management, portfolio management or to seek to earn income. The Fund’s use of derivatives may involve the purchase and sale of derivative instruments such as futures, options, swaps, structured investments and other similar instruments and techniques. The Fund may utilize foreign currency forward exchange contracts, which are also derivatives, in connection with its investments in foreign securities. The Fund may also invest in restricted and illiquid securities. Derivative instruments used by the Fund will be counted toward the Fund’s 80% policy discussed above to the extent they have economic characteristics similar to the securities included within that policy.
MEMNX - Performance
Return Ranking - Trailing
| Period | MEMNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.8% | -0.8% | 39.8% | 6.39% |
| 1 Yr | 18.1% | 3.5% | 72.1% | 7.52% |
| 3 Yr | 14.1%* | 3.7% | 28.9% | 6.02% |
| 5 Yr | 3.9%* | -4.0% | 8.4% | 13.33% |
| 10 Yr | N/A* | -2.2% | 8.1% | 43.28% |
* Annualized
Return Ranking - Calendar
| Period | MEMNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2025 | -1.5% | -2.3% | 18.8% | 98.87% |
| 2024 | -0.2% | -11.2% | 6.9% | 49.25% |
| 2023 | 2.2% | -10.6% | 17.8% | 84.59% |
| 2022 | -25.3% | -29.1% | -2.4% | 91.02% |
| 2021 | -7.0% | -24.0% | 2.7% | 47.62% |
Total Return Ranking - Trailing
| Period | MEMNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.8% | -0.8% | 39.8% | 6.39% |
| 1 Yr | 18.1% | 3.5% | 72.1% | 7.52% |
| 3 Yr | 14.1%* | 3.7% | 28.9% | 6.02% |
| 5 Yr | 3.9%* | -4.0% | 8.4% | 13.33% |
| 10 Yr | N/A* | -2.2% | 8.1% | 42.29% |
* Annualized
Total Return Ranking - Calendar
| Period | MEMNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2025 | 15.3% | 5.3% | 32.5% | 50.75% |
| 2024 | 11.2% | -6.1% | 16.9% | 6.02% |
| 2023 | 11.8% | 2.4% | 20.0% | 63.53% |
| 2022 | -18.7% | -24.4% | -1.7% | 89.84% |
| 2021 | -2.0% | -18.5% | 7.4% | 30.16% |
NAV & Total Return History
MEMNX - Holdings
Concentration Analysis
| MEMNX | Category Low | Category High | MEMNX % Rank | |
|---|---|---|---|---|
| Net Assets | 110 M | 1.16 M | 14.5 B | 68.05% |
| Number of Holdings | 346 | 4 | 2020 | 49.62% |
| Net Assets in Top 10 | 20 M | -134 M | 1.27 B | 69.17% |
| Weighting of Top 10 | 18.21% | 5.9% | 99.3% | 60.84% |
Top 10 Holdings
- Morgan Stanley Institutional Liquidity Funds - Treasury Securities Portfolio 4.29%
- Tanzania 2024 Term Loan A2 3.33%
- Suriname Government International Bond 1.57%
- Staatsolie Maatschappij Suriname NV 2025 Revolver 1.57%
- Chile Government International Bonds 1.40%
- Nigeria Government International Bonds 1.28%
- Ethiopia International Bond 1.25%
- Romania Government International Bonds 1.23%
- Egypt Government International Bonds 1.15%
- Angolan Government International Bond 1.14%
Asset Allocation
| Weighting | Return Low | Return High | MEMNX % Rank | |
|---|---|---|---|---|
| Bonds | 93.45% | 0.00% | 100.00% | 49.62% |
| Cash | 6.81% | 0.00% | 34.31% | 42.48% |
| Stocks | 0.01% | -0.01% | 93.83% | 43.23% |
| Preferred Stocks | 0.00% | 0.00% | 5.35% | 65.04% |
| Convertible Bonds | 0.00% | 0.00% | 8.47% | 83.65% |
| Other | -0.26% | -12.87% | 86.86% | 83.83% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MEMNX % Rank | |
|---|---|---|---|---|
| Government | 83.29% | 0.00% | 99.79% | 8.37% |
| Corporate | 10.58% | 0.00% | 91.26% | 68.06% |
| Cash & Equivalents | 4.57% | 0.00% | 28.71% | 41.35% |
| Securitized | 0.00% | 0.00% | 2.41% | 69.58% |
| Municipal | 0.00% | 0.00% | 0.00% | 63.88% |
| Derivative | -0.26% | -2.55% | 7.35% | 83.46% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MEMNX % Rank | |
|---|---|---|---|---|
| US | 87.04% | -42.31% | 100.00% | 24.81% |
| Non US | 6.41% | 0.00% | 132.49% | 72.93% |
MEMNX - Expenses
Operational Fees
| MEMNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.37% | 0.01% | 46.82% | 40.38% |
| Management Fee | 0.75% | 0.00% | 1.10% | 67.29% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.08% | 0.02% | 0.65% | 42.35% |
Sales Fees
| MEMNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.75% | 4.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| MEMNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.75% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| MEMNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 28.00% | 0.00% | 186.00% | 9.32% |
MEMNX - Distributions
Dividend Yield Analysis
| MEMNX | Category Low | Category High | MEMNX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 14.84% | 0.00% | 22.22% | 7.89% |
Dividend Distribution Analysis
| MEMNX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
| MEMNX | Category Low | Category High | MEMNX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 4.59% | -2.28% | 8.00% | 29.34% |
Capital Gain Distribution Analysis
| MEMNX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Semi-Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Jul 08, 2025 | $0.842 | OrdinaryDividend |
| Jul 09, 2024 | $0.599 | OrdinaryDividend |
| Jul 06, 2023 | $0.476 | OrdinaryDividend |
| Jul 06, 2022 | $0.453 | OrdinaryDividend |
| Jul 07, 2021 | $0.390 | OrdinaryDividend |
| Jul 07, 2020 | $0.339 | OrdinaryDividend |
| Jul 05, 2019 | $0.413 | OrdinaryDividend |
| Jul 05, 2018 | $0.434 | OrdinaryDividend |
| Jul 05, 2017 | $0.450 | OrdinaryDividend |
MEMNX - Fund Manager Analysis
Managers
Warren Mar
Start Date
Tenure
Tenure Rank
Dec 01, 2014
7.5
7.5%
Warren, Managing Director of the Adviser,is a portfolio manager and head of Emerging Markets Corporate Debt strategies. He joined Morgan Stanley in 2012 and has 21 years of investment experience. Prior to joining the firm, Warren was the global head of Emerging Markets Corporate Research & Strategy at J.P. Morgan Chase. Under his leadership, the team ranked #1 in Euromoney?s Fixed Income Research Poll for each of 2010, 2011 and 2012. Previously, he has worked in a number of global locations and has held positions at Investment New Zealand, BNP Paribas and Riyad Bank. Warren received a Bachelor of Commerce from the University of Auckland.
Sahil Tandon
Start Date
Tenure
Tenure Rank
Oct 30, 2015
6.59
6.6%
Sahil, Managing Director of MSIM Limited, is a member of the Fixed Income team. He joined Morgan Stanley in 2004 and has 12 years of investment experience. Mr. Tandon has been associated with the Sub-Adviser in an investment management capacity since August 2019. Prior to August 2019, Mr. Tandon was associated with the Adviser in an investment capacity from 2004. Sahil received a B.A. from Brandeis University in Economics and holds the Chartered Financial Analyst designation.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.15 | 23.87 | 6.68 | 6.11 |