The Indian fund arm of Morgan Stanley will convert its only listed close-end equity fund into an open-end scheme in January as it has received regulatory approval, the firm said in a statement on Friday.
Morgan Stanley Growth Fund MGST.BO, launched in 1994, had assets under management of about 19 billion rupees at the end of October, data from fund tracker ICRA Online showed.
The fund closed at 27.56 rupees on the Bombay Stock Exchange on Friday as compared to its net asset value of 29.34 rupees on Wednesday.
Morgan Stanley Growth Fund MGST.BO, launched in 1994, had assets under management of about 19 billion rupees at the end of October, data from fund tracker ICRA Online showed.
The fund closed at 27.56 rupees on the Bombay Stock Exchange on Friday as compared to its net asset value of 29.34 rupees on Wednesday.
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