The new funds make the strategies led by the Morgan Stanley applied equity advisors team available in a mutual fund format for the first time.

Morgan Stanley Investment Management has launched three new funds: US Core Portfolio, Global Core Portfolio and Global Concentrated Portfolio.

The applied equity advisors investment team has served high net worth and institutional investors for 15 years in a separate account structure and is led by portfolio managers Andrew Slimmon and Phillip Kim.

The new portfolios vary by concentration and region: the US Core Portfolio will generally consist of 30 to 60 stocks with the flexibility to invest up to 20 per cent in non-US equities; the Global Core Portfolio will generally consist of 30 to 60 stocks and typically invest at least 40 per cent in non-US equities under normal market conditions; and the Global Concentrated Portfolio will generally consist of approximately 15 to 20 high-conviction stocks and typically invest at least 40 per cent in non-US equities under normal conditions, but with greater flexibility with respect to regional and sector allocations than the Global Core Portfolio.

The AEA team, part of the multi-asset and solutions business at Morgan Stanley Investment Management, managed $5.1 billion in AuM across its strategies as of March 31, 2016.