RE:
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Morgan Stanley Funds
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1. |
A copy of the Fund’s joint fidelity blanket bond (the “Bond”) providing for coverage of $40 million issued by ICI Mutual acting as lead underwriter and with such other insurance
companies participating in the program as may be determined by Management during the policy term for the period October 5, 2018 to October 5, 2019;
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2. |
A copy of the resolutions of the Board of Directors/Trustees of the Funds, including a majority of the Directors/Trustees who are not interested persons, approving the amount, type,
form, coverage of the Bond and the portion of the premium to be paid by each Fund, and allocation of premiums and recoveries under the Bond;
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3. |
A copy of the joint fidelity bond agreement concerning the allocation of premiums and recoveries under the Bond; and
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4. |
A chart that shows for each Fund (i) each Fund’s Gross Assets; and (ii) the amount of the single insured bond that would have been
provided and maintained had the Fund not been named as an insured under a joint insured bond.
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Very truly yours,
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/s/ Mary E. Mullin
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Mary E. Mullin
Secretary of the Funds
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1
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Morgan Stanley Multi Cap Growth Trust (“Multi Cap Growth”)
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2.
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Morgan Stanley European Equity Fund Inc. (“European Equity”)
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3.
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Morgan Stanley Variable Investment Series (“Variable Investment”)
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·
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European Equity Portfolio
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·
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Multi Cap Growth Portfolio
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4.
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Morgan Stanley Institutional Fund, Inc. (“Institutional Fund Inc.”)
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·
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Active International Allocation Portfolio
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·
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Advantage Portfolio
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·
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Asia Opportunity Portfolio
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·
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Emerging Markets Breakout Nations Portfolio
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·
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Emerging Markets Leaders Portfolio
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·
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Emerging Markets Portfolio
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·
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Emerging Markets Small Cap Portfolio
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·
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Frontier Markets Portfolio
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·
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Fundamental Multi-Cap Core Portfolio
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·
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Global Advantage Portfolio
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·
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Global Concentrated Portfolio
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·
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Global Concentrated Real Estate Portfolio
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·
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Global Core Portfolio
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·
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Global Counterpoint Portfolio
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·
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Global Discovery Portfolio
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·
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Global Franchise Portfolio
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·
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Global Infrastructure Portfolio
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·
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Global Insight Portfolio
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·
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Global Opportunity Portfolio
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·
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Global Real Estate Portfolio
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·
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Global Sustain Portfolio
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·
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Growth Portfolio
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·
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Insight Portfolio
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·
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International Advantage Portfolio
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·
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International Equity Portfolio
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·
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International Opportunity Portfolio
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·
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International Real Estate Portfolio
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·
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Multi-Asset Portfolio
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·
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Real Assets Portfolio
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·
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Small Company Growth Portfolio
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·
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US Core Portfolio
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·
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U.S. Real Estate Portfolio
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In Registration
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||
·
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Global Permanence Portfolio
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5.
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Morgan Stanley Institutional Fund Trust (“Institutional Fund Trust”)
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·
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Global Multi-Asset Income Portfolio
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·
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Global Strategist Portfolio
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·
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Mid Cap Growth Portfolio
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6.
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Morgan Stanley Variable Insurance Fund, Inc. (“Variable Insurance Fund”)
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·
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Emerging Markets Equity Portfolio
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·
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Global Franchise Portfolio
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·
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Global Infrastructure Portfolio
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·
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Global Real Estate Portfolio
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·
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Global Strategist Portfolio
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·
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Growth Portfolio
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·
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Mid Cap Growth Portfolio
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·
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U.S. Real Estate Portfolio
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Closed-End Equity Funds
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1.
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Morgan Stanley Asia-Pacific Fund, Inc. (“Asia-Pacific Fund”)
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2.
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Morgan Stanley China A Share Fund, Inc. (“China A Fund”)
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3.
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Morgan Stanley Emerging Markets Fund, Inc. (“Emerging Markets Fund”)
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4.
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Morgan Stanley India Investment Fund, Inc. (“India Investment Fund”)
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5.
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The Latin American Discovery Fund, Inc. (“Latin American Discovery”)
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FIXED INCOME FUNDS
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Open-End Fixed Income Funds
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1.
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Morgan Stanley Global Fixed Income Opportunities Fund (“Global Fixed
Income Opportunities”)
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2.
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Morgan Stanley Mortgage Securities Trust (“Mortgage Securities”)
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3
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Morgan Stanley U.S. Government Securities Trust (“Government Securities”)
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4.
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Morgan Stanley Variable Investment Series (“Variable Investment”)
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·
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Income Plus Portfolio
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·
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Limited Duration Portfolio
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5.
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Morgan Stanley Institutional Fund, Inc. (“Institutional Fund Inc.”)
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·
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Emerging Markets Fixed Income Opportunities Portfolio
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6.
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Morgan Stanley Institutional Fund Trust (“Institutional Fund Trust”)
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·
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Core Plus Fixed Income Portfolio
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·
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Corporate Bond Portfolio
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·
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High Yield Portfolio
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·
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Short Duration Income Portfolio
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·
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Strategic Income Portfolio
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7.
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Morgan Stanley Variable Insurance Fund, Inc. (“Variable Insurance Fund”)
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·
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Core Plus Fixed Income Portfolio
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·
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Emerging Markets Debt Portfolio
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Closed-End Fixed Income Funds
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||
1.
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Morgan Stanley Emerging Markets Debt Fund, Inc. (“Emerging Markets Debt”)
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2.
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Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. (“Emerging Markets Domestic Debt”)
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LIQUIDITY FUNDS
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Money Market Funds
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1.
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Morgan Stanley U.S. Government Money Market Trust (“Government Money”)
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2.
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Morgan Stanley California Tax-Free Daily Income Trust (“California Tax-Free Daily”)
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3.
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Morgan Stanley New York Municipal Money Market Trust (“New York Money”)
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4.
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Morgan Stanley Tax-Free Daily Income Trust (“Tax-Free Daily”)
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5.
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Morgan Stanley Institutional Liquidity Funds (“Institutional Liquidity Funds”)
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·
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Government Portfolio
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·
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Government Securities Portfolio
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·
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Money Market Portfolio
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·
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Prime Portfolio
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·
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Tax-Exempt Portfolio
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·
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Treasury Portfolio
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·
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Treasury Securities Portfolio
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Open-End Liquidity Funds
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||
1.
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Morgan Stanley Institutional Fund Trust (“Institutional Fund Trust”)
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·
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Ultra-Short Income Portfolio
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ALTERNATIVE FUNDS
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1.
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AIP Alternative Lending Fund A (“Alternative Lending Fund A”)
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2.
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AIP Alternative Lending Fund P (“Alternative Lending Fund P”)
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Funds of Hedge Funds
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1.
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Alternate Investment Partners Absolute Return Fund (“Absolute Return Fund”)
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2.
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Alternative Investment Partners Absolute Return Fund STS (“Absolute Return STS”)
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3.
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AIP Long/Short Fund A (“Long/Short A”)
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4.
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AIP Long/Short Fund P (“Long/Short P”)
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5.
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AIP Macro Registered Fund A (“Macro Registered A”)
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6.
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AIP Macro Registered Fund P (“Macro Registered P”)
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7.
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AIP Multi-Strategy Fund A (“Multi-Strategy A”)
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8.
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AIP Multi-Strategy Fund P (“Multi-Strategy P”)
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9.
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Morgan Stanley Institutional Fund of Hedge Funds LP (“Institutional Fund of Hedge Funds”)
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Item 1.
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Name of Insured (the “Insured”)
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Bond Number
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Morgan Stanley Institutional Fund, Inc.
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88190118B
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Principal Office:
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Mailing Address:
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|||
522 Fifth Avenue
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1585 Broadway, 16th Floor
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New York, NY 10036
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New York, NY 10036
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Item 2.
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Bond Period: from 12:01 a.m. on
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October 5, 2018
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, to 12:01 a.m. on
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October 5, 2019
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, or
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the earlier effective date of the termination of this Bond, standard time at the Principal Address as to each of said dates.
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Item 3.
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Limit of Liability—
|
|||
Subject to Sections 9, 10 and 12 hereof:
|
||||
LIMIT OF
LIABILITY
|
DEDUCTIBLE
AMOUNT
|
|||
Insuring Agreement A-
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FIDELITY
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$40,000,000
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N/A
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Insuring Agreement B-
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AUDIT EXPENSE
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$50,000
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$10,000
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Insuring Agreement C-
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ON PREMISES
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$40,000,000
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$150,000
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Insuring Agreement D-
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IN TRANSIT
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$40,000,000
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$150,000
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Insuring Agreement E-
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FORGERY OR ALTERATION
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$40,000,000
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$150,000
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Insuring Agreement F-
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SECURITIES
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$40,000,000
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$150,000
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Insuring Agreement G-
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COUNTERFEIT CURRENCY
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$40,000,000
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$150,000
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Insuring Agreement H-
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UNCOLLECTIBLE ITEMS OF DEPOSIT
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$1,000,000
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$150,000
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Insuring Agreement I-
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PHONE/ELECTRONIC TRANSACTIONS
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$40,000,000
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$150,000
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If “Not Covered” is inserted opposite any Insuring Agreement above, such Insuring Agreement and any reference thereto shall be deemed to be deleted from this Bond.
|
|
OPTIONAL INSURING AGREEMENTS ADDED BY RIDER:
|
Insuring Agreement J-
|
COMPUTER SECURITY
|
$40,000,000
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$150,000
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Insuring Agreement M-
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SOCIAL ENGINEERING FRAUD
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$1,000,000
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$150,000
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|
Item 4. |
Offices or Premises Covered--All the Insured's offices or other premises in existence at the time this Bond becomes effective are covered under this Bond, except the offices or other
premises excluded by Rider. Offices or other premises acquired or established after the effective date of this Bond are covered subject to the terms of General Agreement A.
|
|||
Item 5. |
The liability of ICI Mutual Insurance Company (the "Underwriter") is subject to the terms of the following Riders attached hereto:
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Riders: | 1-2-3-4-5-6-7-8-9-10-11-12-13 | |
and of all Riders applicable to this Bond issued during the Bond Period.
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By:
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/S/ Maggie Sullivan
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By:
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/S/Catherine Dalton
|
||||
Authorized Representative
|
Authorized Representative
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A.
|
FIDELITY
|
B.
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AUDIT EXPENSE
|
C.
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ON PREMISES
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D.
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IN TRANSIT
|
E. |
FORGERY OR ALTERATION
|
(1) |
bills of exchange, checks, drafts, or other written orders or directions to pay sums certain in money, acceptances, certificates of deposit, due bills, money orders,
warrants, orders upon public treasuries, or letters of credit; or
|
(2) |
instructions, requests or applications directed to the Insured, authorizing or acknowledging the transfer, payment, redemption, delivery or receipt of money or Property,
or giving notice of any bank account (provided such instructions or requests or applications purport to have been signed or endorsed by (a) any customer of the Insured, or (b) any shareholder of or subscriber to shares issued by any
Investment Company, or (c) any financial or banking institution or stockbroker, and further provided such instructions, requests, or applications either bear the forged signature or endorsement or have been altered without the knowledge
and consent of such customer, such shareholder or subscriber to shares issued by an Investment Company, or such financial or banking institution or stockbroker); or
|
(3) |
withdrawal orders or receipts for the withdrawal of Property, or receipts or certificates of deposit for Property and bearing the name of the Insured as issuer or of
another Investment Company for which the Insured acts as agent;
|
F. |
SECURITIES
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(1) |
be Counterfeit, but only to the extent that the Counterfeit directly causes the loss, or
|
(2) |
be lost or stolen, or
|
(3) |
contain a Forgery or Alteration, but only to the extent the Forgery or Alteration directly causes the loss,
|
G.
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COUNTERFEIT CURRENCY
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H.
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UNCOLLECTIBLE ITEMS OF DEPOSIT
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(1) |
uncollectible Items of Deposit of a Fund’s customer, shareholder or subscriber credited by the Insured or its agent to such person’s Fund account, or
|
(2) |
any Item of Deposit processed through an automated clearing house which is reversed by a Fund’s customer, shareholder or subscriber and is deemed uncollectible by the
Insured;
|
I. |
PHONE/ELECTRONIC TRANSACTIONS
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(1) |
is transmitted to the Insured or its agents by voice over the telephone or by Electronic Transmission; and
|
(2) |
is made by an individual purporting to be a Fund shareholder or subscriber or an authorized agent of a Fund shareholder or subscriber; and
|
(3) |
is unauthorized or fraudulent and is made with the manifest intent to deceive;
|
(1) |
the failure to pay for shares attempted to be purchased; or
|
(2) |
any redemption of Investment Company shares which had been improperly credited to a shareholder’s account where such shareholder (a) did not cause, directly or
indirectly, such shares to be credited to such account, and (b) directly or indirectly received any proceeds or other benefit from such redemption; or
|
(3) |
any redemption of shares issued by an Investment Company where the proceeds of such redemption were requested (i) to be paid or made payable to other than an Authorized
Recipient or an Authorized Bank Account or (ii) to be sent to other than an Authorized Address;
|
(4) |
the intentional failure to adhere to one or more Phone/Electronic Transaction Security Procedures; or
|
(5) |
a Phone/Electronic Transaction request transmitted by electronic mail or transmitted by any method not subject to the Phone/Electronic Transaction Security Procedures; or
|
(6) |
the failure or circumvention of any physical or electronic protection device, including any firewall, that imposes restrictions on the flow of electronic traffic in or
out of any Computer System.
|
A. |
ADDITIONAL OFFICES OR EMPLOYEES—CONSOLIDATION OR MERGER—NOTICE
|
1. |
Except as provided in paragraph 2 below, this Bond shall apply to any additional office(s) established by the Insured during the Bond Period and to all Employees during the Bond Period,
without the need to give notice thereof or pay additional premiums to the Underwriter for the Bond Period.
|
2. |
If during the Bond Period an Insured Investment Company shall merge or consolidate with an institution in which such Insured is the surviving entity, or purchase
substantially all the assets or capital stock of another institution, or acquire or create a separate investment portfolio, and shall within sixty (60) days notify the Underwriter thereof, then this Bond shall automatically apply to the
Property and Employees resulting from such merger, consolidation, acquisition or creation from the date thereof; provided, that the Underwriter may make such coverage contingent upon the payment of an additional premium.
|
B.
|
WARRANTY
|
C.
|
COURT COSTS AND ATTORNEYS’ FEES
|
1. |
an Employee admits to having committed or is adjudicated to have committed a Dishonest or Fraudulent Act which caused the loss; or
|
2. |
in the absence of such an admission or adjudication, an arbitrator or arbitrators acceptable to the Insured and the Underwriter concludes, after a review of an agreed
statement of facts, that an Employee has committed a Dishonest or Fraudulent Act which caused the loss.
|
D.
|
INTERPRETATION
|
SECTION 1.
|
DEFINITIONS
|
A. |
“Alteration” means the marking, changing or altering in a material way of the terms, meaning
or legal effect of a document with the intent to deceive.
|
B. |
“Application” means the Insured’s application (and any attachments and materials submitted in
connection therewith) furnished to the Underwriter for this Bond.
|
C. |
“Authorized Address” means (1) any Officially Designated address to which redemption proceeds
may be sent, (2) any address designated in writing (not to include Electronic Transmission) by the Shareholder of Record and received by the Insured at least one (1) day prior to the effective date of such designation, or (3) any address
designated by voice over the telephone or by Electronic Transmission by the Shareholder of Record at least 15 days prior to the effective date of such designation.
|
D. |
“Authorized Bank Account” means any Officially Designated bank account to which redemption
proceeds may be sent.
|
E. |
“Authorized Recipient” means (1) the Shareholder of Record, or (2) any other Officially
Designated person to whom redemption proceeds may be sent.
|
F. |
“Computer System” means (1) computers with related peripheral components, including storage
components, (2) systems and applications software, (3) terminal devices, (4) related communications networks or customer communication systems, and (5) related electronic funds transfer systems; by which data or monies are electronically
collected, transmitted, processed, stored or retrieved.
|
G. |
“Counterfeit” means a Written imitation of an actual valid Original which is intended to
deceive and to be taken as the Original.
|
H. |
“Cryptocurrency” means a digital or electronic medium of exchange, operating independently of
a central bank, in which encryption techniques are used to regulate generation of units and to verify transfer of units from one person to another.
|
I. |
“Currency” means a medium of exchange in current use authorized or adopted by a domestic or
foreign government as part of its official currency.
|
J. |
“Deductible Amount” means, with respect to any Insuring Agreement, the amount set forth under
the heading “Deductible Amount” in Item 3 of the Declarations or in any Rider for such Insuring Agreement, applicable to each Single Loss covered by such Insuring Agreement.
|
K. |
“Depository” means any “securities depository” (other than any foreign securities depository)
in which an Investment Company may deposit its Securities in accordance with Rule 17f-4 under the Investment Company Act of 1940.
|
L. |
“Dishonest or Fraudulent Act” means any dishonest or fraudulent act, including “larceny and
embezzlement” as defined in Section 37 of the Investment Company Act of 1940, committed with the conscious manifest intent (1) to cause the Insured to sustain a loss and (2) to obtain an improper financial benefit for the perpetrator or
any other person or entity. A Dishonest or Fraudulent Act does not mean or include a reckless act, a negligent act, or a grossly negligent act. As used in this definition, “improper financial benefit” does not include any employee
benefits received in the course of employment, including salaries, commissions, fees, bonuses, promotions, awards, profit sharing or pensions.
|
M. |
“Electronic Transmission” means any transmission effected by electronic means, including but
not limited to a transmission effected by telephone tones, Telefacsimile, wireless device, or over the Internet.
|
N. |
“Employee” means:
|
(1) |
each officer, director, trustee, partner or employee of the Insured, and
|
(2) |
each officer, director, trustee, partner or employee of any predecessor of the Insured whose principal assets are acquired by the Insured by consolidation or merger with,
or purchase of assets or capital stock of, such predecessor, and
|
(3) |
each attorney performing legal services for the Insured and each employee of such attorney or of the law firm of such attorney while performing services for the Insured,
and
|
(4) |
each student who is an authorized intern of the Insured, while in any of the Insured’s offices, and
|
(5) |
each officer, director, trustee, partner or employee of
|
(a) |
an investment adviser,
|
(b) |
an underwriter (distributor),
|
(c) |
a transfer agent or shareholder accounting recordkeeper, or
|
(d) |
an administrator authorized by written agreement to keep financial and/or other required records,
|
(6) |
each individual assigned, by contract or by any agency furnishing temporary personnel, in either case on a contingent or part-time basis, to perform the usual duties of
an employee in any office of the Insured, and
|
(7) |
each individual assigned to perform the usual duties of an employee or officer of any entity authorized by written agreement with the Insured to perform services as
electronic data processor of checks or other accounting records of the Insured, but excluding a processor which acts as transfer agent or in any other agency capacity for the Insured in issuing checks, drafts or securities, unless
included under subsection (5) hereof, and
|
(8) |
each officer, partner or employee of
|
(a) |
any Depository or Exchange,
|
(b) |
any nominee in whose name is registered any Security included in the systems for the central handling of securities established and maintained by any Depository, and
|
(c) |
any recognized service company which provides clerks or other personnel to any Depository or Exchange on a contract basis,
|
(9) |
in the case of an Insured which is an “employee benefit plan” (as defined in Section 3 of the Employee Retirement Income Security Act of 1974 (“ERISA”)) for officers,
directors or employees of another Insured (“In-House Plan”), any “fiduciary” or other “plan official” (within the meaning of Section 412 of ERISA) of such In-House Plan, provided that such fiduciary or other plan official is a director,
partner, officer, trustee or employee of an Insured (other than an In-House Plan).
|
O. |
“Exchange” means any national securities exchange registered under the Securities Exchange
Act of 1934.
|
P. |
“Forgery” means the physical signing on a document of the name of another person with the
intent to deceive. A Forgery may be by means of mechanically reproduced facsimile signatures as well as handwritten signatures. Forgery does not include the signing of an individual’s own name, regardless of such individual’s authority,
capacity or purpose.
|
Q. |
“Items of Deposit” means one or more checks or drafts.
|
R. |
“Investment Company” or “Fund” means an investment company registered under the Investment Company Act of 1940.
|
S. |
“Limit of Liability” means, with respect to any Insuring Agreement, the limit of liability of
the Underwriter for any Single Loss covered by such Insuring Agreement as set forth under the heading “Limit of Liability” in Item 3 of the Declarations or in any Rider for such Insuring Agreement.
|
T. |
“Mysterious Disappearance” means any disappearance of Property which, after a reasonable
investigation has been conducted, cannot be explained.
|
U. |
“Non-Fund” means any corporation, business trust, partnership, trust or other entity which is
not an Investment Company.
|
V. |
“Officially Designated” means designated by the Shareholder of Record:
|
(1) |
in the initial account application,
|
(2) |
in writing accompanied by a signature guarantee, or
|
(3) |
in writing or by Electronic Transmission, where such designation is verified via a callback to the Shareholder of Record by the Insured at a predetermined telephone
number provided by the Shareholder of Record to the Insured in writing at least 30 days prior to such callback.
|
W. |
“Original” means the first rendering or archetype and does not include photocopies or
electronic transmissions even if received and printed.
|
X. |
“Phone/Electronic Transaction” means any (1) redemption of shares issued by an Investment
Company, (2) election concerning dividend options available to Fund shareholders, (3) exchange of shares in a registered account of one Fund into shares in an identically registered account of another Fund in the same complex pursuant to
exchange privileges of the two Funds, or (4) purchase of shares issued by an Investment Company, which redemption, election, exchange or purchase is requested by voice over the telephone or through an Electronic Transmission.
|
Y. |
“Phone/Electronic Transaction Security Procedures” means security procedures for Phone/ Electronic Transactions as set forth in the Application and/or as otherwise provided in writing to the Underwriter.
|
Z. |
“Property” means the following tangible items: money, postage and revenue stamps, precious
metals, Securities, bills of exchange, acceptances, checks, drafts, or other written orders or directions to pay sums certain in money, certificates of deposit, due bills, money orders, letters of credit, financial futures contracts,
conditional sales contracts, abstracts of title, insurance policies, deeds, mortgages, and assignments of any of the foregoing, and other valuable papers, including books of account and other records used by the Insured in the conduct of
its business, and all other instruments similar to or in the nature of the foregoing (but excluding all data processing records), (1) in which the Insured has a legally cognizable interest, (2) in which the Insured acquired or should have
acquired such an interest by reason of a predecessor’s declared financial condition at the time of the Insured’s consolidation or merger with, or purchase of the principal assets of, such predecessor or (3) which are held by the Insured
for any purpose or in any capacity.
|
AA. |
“Securities” means original negotiable or non-negotiable agreements or instruments which
represent an equitable or legal interest, ownership or debt (including stock certificates, bonds, promissory notes, and assignments thereof), which are in the ordinary course of business transferable by physical delivery with appropriate
endorsement or assignment. “Securities” does not include bills of exchange, acceptances, certificates of deposit, checks, drafts, or other written orders or directions to pay sums certain in money, due bills, money orders, or letters of
credit.
|
BB. |
“Security Company” means an entity which provides or purports to provide the transport of
Property by secure means, including, without limitation, by use of armored vehicles or guards.
|
CC. |
“Self-Regulatory Organization” means any association of investment advisers or securities
dealers registered under the federal securities laws, or any Exchange.
|
DD. |
“Shareholder of Record” means the record owner of shares issued by an Investment Company or,
in the case of joint ownership of such shares, all record owners, as designated (1) in the initial account application, or (2) in writing accompanied by a signature guarantee, or (3) pursuant to procedures as set forth in the Application
and/or as otherwise provided in writing to the Underwriter.
|
EE. |
“Single Loss” means:
|
(1) |
all loss caused by any one act (other than a Dishonest or Fraudulent Act) committed by one person, or
|
(2) |
all loss caused by Dishonest or Fraudulent Acts committed by one person, or
|
(3) |
all expenses incurred with respect to any one audit or examination, or
|
(4) |
all loss caused by any one occurrence or event other than those specified in subsections (1) through (3) above.
|
FF. |
“Telefacsimile” means a system of transmitting and reproducing fixed graphic material (as,
for example, printing) by means of signals transmitted over telephone lines or over the Internet.
|
GG. |
“Written” means expressed through letters or marks placed upon paper and visible to the eye.
|
SECTION 2.
|
EXCLUSIONS
|
A. |
Loss resulting from (1) riot or civil commotion outside the United States of America and Canada, or (2) war, revolution, insurrection, action by armed forces, or usurped
power, wherever occurring; except if such loss occurs while the Property is in transit, is otherwise covered under Insuring Agreement D, and when such transit was initiated, the Insured or any person initiating such transit on the
Insured’s behalf had no knowledge of such riot, civil commotion, war, revolution, insurrection, action by armed forces, or usurped power.
|
B. |
Loss in time of peace or war resulting from nuclear fission or fusion or radioactivity, or biological or chemical agents or hazards, or fire, smoke, or explosion, or the
effects of any of the foregoing.
|
C. |
Loss resulting from any Dishonest or Fraudulent Act committed by any person while acting in the capacity of a member of the Board of Directors or any equivalent body of
the Insured or of any other entity.
|
D. |
Loss resulting from any nonpayment or other default of any loan or similar transaction made by the Insured or any of its partners, directors, officers or employees,
whether or not authorized and whether procured in good faith or through a Dishonest or Fraudulent Act, unless such loss is otherwise covered under Insuring Agreement A, E, or F.
|
E. |
Loss resulting from any violation by the Insured or by any Employee of any law, or any rule or regulation pursuant thereto or adopted by a Self-Regulatory Organization,
regulating the issuance, purchase or sale of securities, securities transactions upon security exchanges or over the counter markets, Investment Companies, or investment advisers, unless such loss, in the absence of such law, rule or
regulation, would be covered under Insuring Agreement A, E, or F.
|
F. |
Loss resulting from Property that is the object of a Dishonest or Fraudulent Act or Mysterious Disappearance while in the custody of any Security Company, unless such
loss is covered under this Bond and is in excess of the amount recovered or received by the Insured under (1) the Insured’s contract with such Security Company, and (2) insurance or indemnity of any kind carried by such Security Company
for the benefit of, or otherwise available to, users of its service, in which case this Bond shall cover only such excess, subject to the applicable Limit of Liability and Deductible Amount.
|
G. |
Potential income, including but not limited to interest and dividends, not realized by the Insured because of a loss covered under this Bond, except when covered under
Insuring Agreement H.
|
H. |
Loss in the form of (1) damages of any type for which the Insured is legally liable, except direct compensatory damages, or (2) taxes, fines, or penalties, including
without limitation two-thirds of treble damage awards pursuant to judgments under any statute or regulation.
|
I. |
Loss resulting from the surrender of Property away from an office of the Insured as a result of kidnap, ransom, or extortion, or a threat
|
(1) |
to do bodily harm to any person, except where the Property is in transit in the custody of any person acting as messenger as a result of a threat to do bodily harm to
such person, if the Insured had no knowledge of such threat at the time such transit was initiated, or
|
(2) |
to do damage to the premises or Property of the Insured,
|
J. |
All costs, fees, and other expenses incurred by the Insured in establishing the existence of or amount of loss covered under this Bond, except to the extent certain audit
expenses are covered under Insuring Agreement B.
|
K. |
Loss resulting from payments made to or withdrawals from any account, involving funds erroneously credited to such account, unless such loss is otherwise covered under
Insuring Agreement A.
|
L. |
Loss resulting from uncollectible Items of Deposit which are drawn upon a financial institution outside the United States of America, its territories and possessions, or
Canada.
|
M. |
Loss resulting from the Dishonest or Fraudulent Acts or other acts or omissions of an Employee primarily engaged in the sale of shares issued by an Investment Company to
persons other than (1) a person registered as a broker under the Securities Exchange Act of 1934 or (2) an “accredited investor” as defined in Rule 501(a) of Regulation D under the Securities Act of 1933, which is not an individual.
|
N. |
Loss resulting from the use of credit, debit, charge, access, convenience, identification, cash management or other cards, whether such cards were issued or purport to
have been issued by the Insured or by anyone else, unless such loss is otherwise covered under Insuring Agreement A.
|
O. |
Loss resulting from any purchase, redemption or exchange of securities issued by an Investment Company or other Insured, or any other instruction, request,
acknowledgement, notice or transaction involving securities issued by an Investment Company or other Insured or the dividends in respect thereof, when any of the foregoing is requested, authorized or directed or purported to be requested,
authorized or directed by voice over the telephone or by Electronic Transmission, unless such loss is otherwise covered under Insuring Agreement A or Insuring Agreement I.
|
P. |
Loss resulting from any Dishonest or Fraudulent Act or committed by an Employee as defined in Section 1.N(2), unless such loss (1) could not have been reasonably
discovered by the due diligence of the Insured at or prior to the time of acquisition by the Insured of the assets acquired from a predecessor, and (2) arose out of a lawsuit or valid claim brought against the Insured by a person
unaffiliated with the Insured or with any person affiliated with the Insured.
|
Q. |
Loss resulting from the unauthorized entry of data into, or the deletion or destruction of data in, or the change of data elements or programs within, any Computer
System, unless such loss is otherwise covered under Insuring Agreement A.
|
R. |
Loss resulting from the theft, disappearance, destruction, disclosure, or unauthorized use of confidential or personal information (including, but not limited to, trade
secrets, personal shareholder or client information, shareholder or client lists, personally identifiable financial or medical information, intellectual property, or any other type of non-public information), whether such information is
owned by the Insured or held by the Insured in any capacity (including concurrently with another person); provided, however, this exclusion shall not apply to loss arising out of the use of such information to support or facilitate the
commission of an act otherwise covered by this Bond.
|
S. |
All costs, fees, and other expenses arising from a data security breach or incident, including, but not limited to, forensic audit expenses, fines, penalties, expenses to
comply with federal and state laws and expenses related to notifying affected individuals.
|
T. |
Loss resulting from vandalism or malicious mischief.
|
U. |
Loss resulting from the theft, disappearance, or destruction of Cryptocurrency or from the change in value of Cryptocurrency, unless such loss (1) is sustained by any
investment company registered under the Investment Company Act of 1940 that is named as an Insured and (2) is otherwise covered under Insuring Agreement A.
|
SECTION 3.
|
ASSIGNMENT OF RIGHTS
|
SECTION 4.
|
LOSS—NOTICE—PROOF—LEGAL PROCEEDINGS
|
SECTION 5.
|
DISCOVERY
|
(1) |
becomes aware of facts, or
|
(2) |
receives notice of an actual or potential claim by a third party which alleges that the Insured is liable under circumstances,
|
SECTION 6.
|
VALUATION OF PROPERTY
|
(1) |
the value of any Property replaced by the Insured prior to the payment of a claim therefor shall be the actual market value of such Property at the time of replacement,
but not in excess of the market value of such Property on the first business day before the discovery of the loss of such Property;
|
(2) |
the value of Securities which must be produced to exercise subscription, conversion, redemption or deposit privileges shall be the market value of such privileges
immediately preceding the expiration thereof if the loss of such Securities is not discovered until after such expiration, but if there is no quoted or other ascertainable market price for such Property or privileges referred to in
clauses (1) and (2), their value shall be fixed by agreement between the parties or by arbitration before an arbitrator or arbitrators acceptable to the parties; and
|
(3) |
the value of books of accounts or other records used by the Insured in the conduct of its business shall be limited to the actual cost of blank books, blank pages or
other materials if the books or records are reproduced plus the cost of labor for the transcription or copying of data furnished by the Insured for reproduction.
|
SECTION 7.
|
LOST SECURITIES
|
SECTION 8.
|
SALVAGE
|
SECTION 9. |
NON-REDUCTION AND NON-ACCUMULATION OF LIABILITY AND TOTAL LIABILITY
|
SECTION 10. |
MAXIMUM LIABILITY OF UNDERWRITER; OTHER BONDS OR POLICIES
|
SECTION 11.
|
OTHER INSURANCE
|
SECTION 12. |
DEDUCTIBLE AMOUNT
|
SECTION 13. |
TERMINATION
|
SECTION 14. |
RIGHTS AFTER TERMINATION
|
SECTION 15. |
CENTRAL HANDLING OF SECURITIES
|
SECTION 16. |
ADDITIONAL COMPANIES INCLUDED AS INSURED
|
A. |
the total liability of the Underwriter hereunder for each Single Loss shall not exceed the Limit of Liability which would be applicable if there were only one named
Insured, regardless of the number of Insured entities which sustain loss as a result of such Single Loss,
|
B. |
the Insured first named in Item 1 of the Declarations shall be deemed authorized to make, adjust, and settle, and receive and enforce payment of, all claims hereunder as
the agent of each other Insured for such purposes and for the giving or receiving of any notice required or permitted to be given hereunder; provided, that the Underwriter shall promptly furnish each named Insured Investment Company with
(1) a copy of this Bond and any amendments thereto, (2) a copy of each formal filing of a claim hereunder by any other Insured, and (3) notification of the terms of the settlement of each such claim prior to the execution of such
settlement,
|
C. |
the Underwriter shall not be responsible or have any liability for the proper application by the Insured first named in Item 1 of the Declarations of any payment made
hereunder to the first named Insured,
|
D. |
for the purposes of Sections 4 and 13, knowledge possessed or discovery made by any partner, officer or supervisory Employee of any Insured shall constitute knowledge or
discovery by every named Insured,
|
E. |
if the first named Insured ceases for any reason to be covered under this Bond, then the Insured next named shall thereafter be considered as the first named Insured for
the purposes of this Bond, and
|
F. |
each named Insured shall constitute “the Insured” for all purposes of this Bond.
|
SECTION 17. |
NOTICE AND CHANGE OF CONTROL
|
A. |
the names of the transferors and transferees (or the names of the beneficial owners if the voting securities are registered in another name), and
|
B. |
the total number of voting securities owned by the transferors and the transferees (or the beneficial owners), both immediately before and after the transfer, and
|
C. |
the total number of outstanding voting securities.
|
SECTION 18. |
CHANGE OR MODIFICATION
|
SECTION 19. |
COMPLIANCE WITH APPLICABLE TRADE AND ECONOMIC SANCTIONS
|
SECTION 20. |
ANTI-BUNDLING
|
INSURED
|
BOND NUMBER
|
|
Morgan Stanley Institutional Fund, Inc.
|
88190118B
|
|
EFFECTIVE DATE
|
BOND PERIOD
|
AUTHORIZED REPRESENTATIVE
|
October 5, 2018
|
October 5, 2018 to October 5, 2019
|
/S/ Catherine Dalton
|
o |
Mid Cap Growth Portfolio
|
o |
The European Equity Portfolio
|
o |
The Income Plus Portfolio
|
o |
The Limited Duration Portfolio
|
o |
The Multi Cap Growth Portfolio
|
o |
Active International Allocation Portfolio
|
o |
Advantage Portfolio
|
o |
Asia Opportunity Portfolio
|
o |
Asian Equity Portfolio
|
o |
Emerging Markets Fixed Income Opportunities Portfolio
|
o |
Emerging Markets Leaders Portfolio
|
o |
Emerging Markets Portfolio
|
o |
Emerging Markets Small Cap Portfolio
|
o |
Frontier Emerging Markets Portfolio
|
o |
Fundamental Multi-Cap Core Portfolio
|
o |
Global Advantage Portfolio
|
o |
Global Concentrated Portfolio
|
o |
Global Core Portfolio
|
o |
Global Discovery Portfolio
|
o |
Global Franchise Portfolio
|
o |
Global Infrastructure Portfolio
|
o |
Global Insight Portfolio
|
o |
Global Opportunity Portfolio
|
o |
Global Quality Portfolio
|
o |
Global Real Estate Portfolio
|
o |
Growth Portfolio
|
o |
Insight Portfolio
|
o |
International Advantage Portfolio
|
o |
International Equity Portfolio
|
o |
International Opportunity Portfolio
|
o |
International Real Estate Portfolio
|
o |
Multi-Asset Portfolio
|
o |
Small Company Growth Portfolio
|
o |
U.S. Core Portfolio
|
o |
U.S. Real Estate Portfolio
|
o |
Core Plus Fixed Income Portfolio
|
o |
Emerging Markets Debt Portfolio
|
o |
Emerging Markets Equity Portfolio
|
o |
Global Franchise Portfolio
|
o |
Global Infrastructure Portfolio
|
o |
Global Real Estate Portfolio
|
o |
Global Strategist Portfolio
|
o |
Growth Portfolio
|
o |
Mid Cap Growth Portfolio
|
o |
Small Company Growth Portfolio
|
o |
U.S. Real Estate Portfolio
|
o |
Core Plus Fixed Income Portfolio
|
o |
Corporate Bond Portfolio
|
o |
Global Multi-Asset Income Portfolio
|
o |
Global Strategist Portfolio
|
o |
High Yield Portfolio
|
o |
Mid Cap Growth Portfolio
|
o |
Short Duration Income Portfolio
|
o |
Strategic Income Portfolio
|
o |
Ultra-Short Income Portfolio
|
o |
Government Portfolio
|
o |
Government Securities Portfolio
|
o |
Money Market Portfolio
|
o |
Prime Portfolio
|
o |
Tax-Exempt Portfolio
|
o |
Treasury Portfolio
|
o |
Treasury Securities Portfolio
|
o |
AIP Dynamic Alternative Strategies Fund
|
o |
AIP Dynamic Alpha Capture Fund
|
INSURED
|
BOND NUMBER
|
|
Morgan Stanley Institutional Fund, Inc.
|
88190118B
|
|
EFFECTIVE DATE
|
BOND PERIOD
|
AUTHORIZED REPRESENTATIVE
|
October 5, 2018
|
October 5, 2018 to October 5, 2019
|
/S/ Catherine Dalton
|
INSURED
|
BOND NUMBER
|
|
Morgan Stanley Institutional Fund, Inc.
|
88190118B
|
|
EFFECTIVE DATE
|
BOND PERIOD
|
AUTHORIZED REPRESENTATIVE
|
October 5, 2018
|
October 5, 2018 to October 5, 2019
|
/S/ Catherine Dalton
|
1. |
Definitions. The following terms used in this Insuring Agreement shall have the following meanings:
|
a. |
“Authorized User” means any person or entity designated by the Insured (through contract, assignment of User Identification, or otherwise) as authorized to use a Covered Computer System,
or any part thereof. An individual who invests in an Insured Fund shall not be considered to be an Authorized User solely by virtue of being an investor.
|
b. |
“Computer Fraud” means the unauthorized entry of data into, or the deletion or destruction of data in, or change of data elements or programs within, a Covered Computer System which:
|
(1) |
is committed by any Unauthorized Third Party anywhere, alone or in collusion with other Unauthorized Third Parties; and
|
(2) |
is committed with the conscious manifest intent (a) to cause the Insured to sustain a loss, and (b) to obtain financial
benefit for the perpetrator or any other person; and
|
(3) |
causes (x) Property to be transferred, paid or delivered; or (y) an account of the Insured, or of its customer, to be
added, deleted, debited or credited; or (z) an unauthorized or fictitious account to be debited or credited.
|
c. |
“Computer Security Procedures” means procedures for prevention of unauthorized computer access and use and administration of computer access and use as provided in writing to the
Underwriter.
|
d. |
“Covered Computer System” means any Computer System as to which the Insured has possession, custody and control.
|
e. |
“Unauthorized Third Party” means any person or entity that, at the time of the Computer Fraud, is not an Authorized User.
|
f. |
“User Identification” means any unique user name (i.e., a series of characters) that is assigned to a person
or entity by the Insured.
|
2. |
Exclusions. It is further understood and agreed that this Insuring Agreement J shall not cover:
|
a. |
Any loss covered under Insuring Agreement A, “Fidelity,” of this Bond; and
|
b. |
Any loss resulting from the intentional failure to adhere to one or more Computer Security Procedures; and
|
c. |
Any loss resulting from a Computer Fraud committed by or in collusion with:
|
(1) |
any Authorized User (whether a natural person or an entity); or
|
(2) |
in the case of any Authorized User which is an entity, (a) any director, officer, partner, employee or agent of such Authorized User, or (b) any entity which controls, is controlled by,
or is under common control with such Authorized User (“Related Entity”), or (c) any director, officer, partner, employee or agent of such Related Entity; or
|
(3) |
in the case of any Authorized User who is a natural person, (a) any entity for which such Authorized User is a director, officer, partner, employee or agent (“Employer Entity”), or (b)
any director, officer, partner, employee or agent of such Employer Entity, or (c) any entity which controls, is controlled by, or is under common control with such Employer Entity (“Employer-Related Entity”), or (d) any director, officer,
partner, employee or agent of such Employer-Related Entity;
|
d. |
Any loss resulting from physical damage to or destruction of any Covered Computer System, or any part thereof, or any data, data elements or media associated therewith; and
|
e. |
Any loss not directly and proximately caused by Computer Fraud (including, without limitation, disruption of business and extra expense); and
|
f. |
Payments made to any person(s) who has threatened to deny or has denied authorized access to a Covered Computer System or otherwise has threatened to disrupt the business of the Insured.
|
(a) |
by written notice from the Underwriter not less than sixty (60) days prior to the effective date of termination specified in such notice; or
|
(b) |
immediately by written notice from the Insured to the Underwriter.
|
INSURED
|
BOND NUMBER
|
|
Morgan Stanley Institutional Fund, Inc.
|
88190118B
|
|
EFFECTIVE DATE
|
BOND PERIOD
|
AUTHORIZED REPRESENTATIVE
|
October 5, 2018
|
October 5, 2018 to October 5, 2019
|
/S/ Catherine Dalton
|
INSURED
|
BOND NUMBER
|
|
Morgan Stanley Institutional Fund, Inc.
|
88190118B
|
|
EFFECTIVE DATE
|
BOND PERIOD
|
AUTHORIZED REPRESENTATIVE
|
October 5, 2018
|
October 5, 2018 to October 5, 2019
|
/S/ Catherine Dalton
|
(1) |
letter requesting redemption of $100,000 or less payable by check to the Shareholder of Record and sent to an Authorized Address; or
|
(2) |
letter requesting redemption of $100,000 or less by wire transfer to the Shareholder of Record of an Authorized Bank Account; or
|
(3) |
written request to a trustee or custodian for a Designated Retirement Account (“DRA”) which holds shares of an Insured Fund, where such request (a) purports to be from or at the
instruction of the Owner of such DRA, and (b) directs such trustee or custodian to transfer $100,000 or less from such DRA to a trustee or custodian for another DRA established for the benefit of such Owner;
|
(A) |
“Designated Retirement Account” means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.
|
(B) |
“Owner” means the individual for whose benefit the DRA, or a subaccount thereof, is established.
|
INSURED
|
BOND NUMBER
|
|
Morgan Stanley Institutional Fund, Inc.
|
88190118B
|
|
EFFECTIVE DATE
|
BOND PERIOD
|
AUTHORIZED REPRESENTATIVE
|
October 5, 2018
|
October 5, 2018 to October 5, 2019
|
/S/ Catherine Dalton
|
(1) |
such Third Party Check is used to open or increase an account which is registered in the name of one or more of the payees on such Third Party Check, and
|
(2) |
reasonable efforts are made by the Insured, or by the entity receiving Third Party Checks on behalf of the Insured, to verify all endorsements on all Third Party Checks made payable in
amounts greater than $100,000 (provided, however, that the isolated failure to make such efforts in a particular instance will not preclude coverage, subject to the exclusions herein and in the Bond),
|
(1) |
any payee on such Third Party Check reasonably appears to be a corporation or other entity; or
|
(2) |
such Third Party Check is made payable in an amount greater than $100,000 and does not include the purported endorsements of all payees on such Third Party Check.
|
INSURED
|
BOND NUMBER
|
|
Morgan Stanley Institutional Fund, Inc.
|
88190118B
|
|
EFFECTIVE DATE
|
BOND PERIOD
|
AUTHORIZED REPRESENTATIVE
|
October 5, 2018
|
October 5, 2018 to October 5, 2019
|
/S/ Catherine Dalton
|
INSURED
|
BOND NUMBER
|
|
Morgan Stanley Institutional Fund, Inc.
|
88190118B
|
|
EFFECTIVE DATE
|
BOND PERIOD
|
AUTHORIZED REPRESENTATIVE
|
October 5, 2018
|
October 5, 2018 to October 5, 2019
|
/S/ Catherine Dalton
|
(a) |
a Phone/Electronic Redemption requested to be paid or made payable by check to the Shareholder of Record and sent to an Authorized Address; or
|
(b) |
a Phone/Electronic Redemption requested to be paid or made payable by wire transfer to the Shareholder of Record at an Authorized Bank Account,
|
INSURED
|
BOND NUMBER
|
|
Morgan Stanley Institutional Fund, Inc.
|
88190118B
|
|
EFFECTIVE DATE
|
BOND PERIOD
|
AUTHORIZED REPRESENTATIVE
|
October 5, 2018
|
October 5, 2018 to October 5, 2019
|
/S/ Catherine Dalton
|
· |
by use of an automated telephone tone or voice response system ; or
|
· |
by transmissions over the Internet;
|
INSURED
|
BOND NUMBER
|
|
Morgan Stanley Institutional Fund, Inc.
|
88190118B
|
|
EFFECTIVE DATE
|
BOND PERIOD
|
AUTHORIZED REPRESENTATIVE
|
October 5, 2018
|
October 5, 2018 to October 5, 2019
|
/S/ Catherine Dalton
|
(1) |
becomes aware of facts, or
|
(2) |
receives notice of an actual or potential claim by a third party which alleges that the Insured is liable under circumstances,
|
INSURED
|
BOND NUMBER
|
|
Morgan Stanley Institutional Fund, Inc.
|
88190118B
|
|
EFFECTIVE DATE
|
BOND PERIOD
|
AUTHORIZED REPRESENTATIVE
|
October 5, 2018
|
October 5, 2018 to October 5, 2019
|
/S/ Catherine Dalton
|
INSURED
|
BOND NUMBER
|
|
Morgan Stanley Institutional Fund, Inc.
|
88190118B
|
|
EFFECTIVE DATE
|
BOND PERIOD
|
AUTHORIZED REPRESENTATIVE
|
October 5, 2018
|
October 5, 2018 to October 5, 2019
|
/S/ Catherine Dalton
|
INSURED
|
BOND NUMBER
|
|
Morgan Stanley Institutional Fund, Inc.
|
88190118B
|
|
EFFECTIVE DATE
|
BOND PERIOD
|
AUTHORIZED REPRESENTATIVE
|
October 5, 2018
|
October 5, 2018 to October 5, 2019
|
/S/ Catherine Dalton
|
1. |
“Communication” means an instruction that (a) directs an Employee to transfer, pay, or deliver money from the Insured’s own account, (b) contains a material misrepresentation of fact,
and (c) is relied upon by the Employee, believing it to be true.
|
2. |
“Social Engineering Fraud” means the intentional misleading of an Employee through the use of a Communication, where such Communication:
|
(a) |
is transmitted to the Employee in writing, by voice over the telephone, or by Electronic Transmission;
|
(b) |
is made by an individual who purports to be (i) an Employee who is duly authorized by the Insured to instruct another Employee to transfer, pay, or deliver money, or (ii) an officer or
employee of a Vendor who is duly authorized by the Insured to instruct an Employee to transfer, pay, or deliver money; and
|
(c) |
is unauthorized, dishonest or fraudulent and is made with the manifest intent to deceive.
|
3. |
“Social Engineering Security Procedures” means security procedures intended to prevent Social Engineering Fraud as set forth in the Application and/or as otherwise provided in writing to
the Underwriter.
|
4. |
“Vendor” means any entity or individual that provides goods or services to the Insured under a pre-existing, written agreement.
|
By:
|
|
/s/ Mary E. Mullin
|
|
Mary E. Mullin
|
|||
Secretary of each Fund
|
1.
|
Morgan Stanley Multi Cap Growth Trust (“Multi Cap Growth”)
|
2.
|
Morgan Stanley European Equity Fund Inc. (“European Equity”)
|
3.
|
Morgan Stanley Variable Investment Series (“Variable Investment”)
|
·
|
European Equity Portfolio
|
·
|
Multi Cap Growth Portfolio
|
4.
|
Morgan Stanley Institutional Fund, Inc. (“Institutional Fund Inc.”)
|
·
|
Active International Allocation Portfolio
|
·
|
Advantage Portfolio
|
·
|
Asia Opportunity Portfolio
|
·
|
Emerging Markets Breakout Nations Portfolio
|
·
|
Emerging Markets Leaders Portfolio
|
·
|
Emerging Markets Portfolio
|
·
|
Emerging Markets Small Cap Portfolio
|
·
|
Frontier Markets Portfolio
|
·
|
Fundamental Multi-Cap Core Portfolio
|
·
|
Global Advantage Portfolio
|
·
|
Global Concentrated Portfolio
|
·
|
Global Concentrated Real Estate Portfolio
|
·
|
Global Core Portfolio
|
·
|
Global Counterpoint Portfolio
|
·
|
Global Discovery Portfolio
|
·
|
Global Franchise Portfolio
|
·
|
Global Infrastructure Portfolio
|
·
|
Global Insight Portfolio
|
·
|
Global Opportunity Portfolio
|
·
|
Global Real Estate Portfolio
|
·
|
Global Sustain Portfolio
|
·
|
Growth Portfolio
|
·
|
Insight Portfolio
|
·
|
International Advantage Portfolio
|
·
|
International Equity Portfolio
|
·
|
International Opportunity Portfolio
|
·
|
International Real Estate Portfolio
|
·
|
Multi-Asset Portfolio
|
·
|
Real Assets Portfolio
|
·
|
Small Company Growth Portfolio
|
·
|
US Core Portfolio
|
·
|
U.S. Real Estate Portfolio
|
·
|
Global Permanence Portfolio
|
5.
|
Morgan Stanley Institutional Fund Trust (“Institutional Fund Trust”)
|
·
|
Global Multi-Asset Income Portfolio
|
·
|
Global Strategist Portfolio
|
·
|
Mid Cap Growth Portfolio
|
6.
|
Morgan Stanley Variable Insurance Fund, Inc. (“Variable Insurance Fund”)
|
·
|
Emerging Markets Equity Portfolio
|
·
|
Global Franchise Portfolio
|
·
|
Global Infrastructure Portfolio
|
·
|
Global Real Estate Portfolio
|
·
|
Global Strategist Portfolio
|
·
|
Growth Portfolio
|
·
|
Mid Cap Growth Portfolio
|
·
|
U.S. Real Estate Portfolio
|
1.
|
Morgan Stanley Asia-Pacific Fund, Inc. (“Asia-Pacific Fund”)
|
2.
|
Morgan Stanley China A Share Fund, Inc. (“China A Fund”)
|
3.
|
Morgan Stanley Emerging Markets Fund, Inc. (“Emerging Markets Fund”)
|
4.
|
Morgan Stanley India Investment Fund, Inc. (“India Investment Fund”)
|
5.
|
The Latin American Discovery Fund, Inc. (“Latin American Discovery”)
|
1.
|
Morgan Stanley Global Fixed Income Opportunities Fund (“Global Fixed Income
Opportunities”)
|
2.
|
Morgan Stanley Mortgage Securities Trust (“Mortgage Securities”)
|
3.
|
Morgan Stanley U.S. Government Securities Trust (“Government Securities”)
|
4.
|
Morgan Stanley Variable Investment Series (“Variable Investment”)
|
·
|
Income Plus Portfolio
|
·
|
Limited Duration Portfolio
|
5.
|
Morgan Stanley Institutional Fund, Inc. (“Institutional Fund Inc.”)
|
·
|
Emerging Markets Fixed Income Opportunities Portfolio
|
6.
|
Morgan Stanley Institutional Fund Trust (“Institutional Fund Trust”)
|
·
|
Core Plus Fixed Income Portfolio
|
·
|
Corporate Bond Portfolio
|
·
|
High Yield Portfolio
|
·
|
Short Duration Income Portfolio
|
·
|
Strategic Income Portfolio
|
7.
|
Morgan Stanley Variable Insurance Fund, Inc. (“Variable Insurance Fund”)
|
·
|
Core Plus Fixed Income Portfolio
|
·
|
Emerging Markets Debt Portfolio
|
1.
|
Morgan Stanley Emerging Markets Debt Fund, Inc. (“Emerging Markets Debt”)
|
2.
|
Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. (“Emerging Markets Domestic Debt”)
|
1.
|
Morgan Stanley U.S. Government Money Market Trust (“Government Money”)
|
2.
|
Morgan Stanley California Tax-Free Daily Income Trust (“California Tax-Free Daily”)
|
3.
|
Morgan Stanley New York Municipal Money Market Trust (“New York Money”)
|
4.
|
Morgan Stanley Tax-Free Daily Income Trust (“Tax-Free Daily”)
|
5.
|
Morgan Stanley Institutional Liquidity Funds (“Institutional Liquidity Funds”)
|
·
|
Government Portfolio
|
·
|
Government Securities Portfolio
|
·
|
Money Market Portfolio
|
·
|
Prime Portfolio
|
·
|
Tax-Exempt Portfolio
|
·
|
Treasury Portfolio
|
·
|
Treasury Securities Portfolio
|
1.
|
Morgan Stanley Institutional Fund Trust (“Institutional Fund Trust”)
|
·
|
Ultra-Short Income Portfolio
|
1.
|
AIP Alternative Lending Fund A (“Alternative Lending Fund A”)
|
2.
|
AIP Alternative Lending Fund P (“Alternative Lending Fund P”)
|
1.
|
Alternate Investment Partners Absolute Return Fund (“Absolute Return Fund”)
|
2.
|
Alternative Investment Partners Absolute Return Fund STS (“Absolute Return STS”)
|
3.
|
AIP Long/Short Fund A (“Long/Short A”)
|
4.
|
AIP Long/Short Fund P (“Long/Short P”)
|
5.
|
AIP Macro Registered Fund A (“Macro Registered A”)
|
6.
|
AIP Macro Registered Fund P (“Macro Registered P”)
|
7.
|
AIP Multi-Strategy Fund A (“Multi-Strategy A”)
|
8.
|
AIP Multi-Strategy Fund P (“Multi-Strategy P”)
|
9.
|
Morgan Stanley Institutional Fund of Hedge Funds LP (“Institutional Fund of Hedge Funds”)
|
RULES UNDER 17-G
|
||||||
GROSS
ASSET
RANGE
(in mills)
|
MINIMUM
COVERAGE
|
|||||
0
|
50,000
|
|||||
0.499999
|
75,000
|
|||||
0.999999
|
100,000
|
|||||
2.499999
|
125,000
|
|||||
4.999999
|
150,000
|
|||||
7.499999
|
175,000
|
|||||
9.999999
|
200,000
|
|||||
14.999999
|
225,000
|
|||||
19.999999
|
250,000
|
|||||
24.999999
|
300,000
|
|||||
34.999999
|
350,000
|
|||||
49.999999
|
400,000
|
|||||
74.999999
|
450,000
|
|||||
99.999999
|
525,000
|
|||||
149.999999
|
600,000
|
|||||
249.999999
|
750,000
|
|||||
499.999999
|
900,000
|
|||||
749.999999
|
1,000,000
|
|||||
999.999999
|
1,250,000
|
|||||
1,499.999999
|
1,500,000
|
|||||
1,999.999999
|
1,700,000
|
|||||
2,499.999999
|
1,900,000
|
|||||
2,999.999999
|
2,100,000
|
|||||
3,499.999999
|
2,300,000
|
|||||
3,999.999999
|
2,500,000
|
|||||
4,499.999999
|
2,500,000
|
|
GROSS ASSETS
PORTFOLIO
(in mils)
|
GROSS ASSETS
Registrant
(in mils)
|
MINIMUM
COVERAGE
REQUIRED
|
|||||||||||
MORGAN STANLEY RETAIL FUNDS
|
|||||||||||||
CALIFORNIA TAX FREE DAILY INCOME
|
31
|
300,000
|
|||||||||||
MULTI CAP GROWTH
|
970
|
1,000,000
|
|||||||||||
EUROPEAN EQUITY FUND
|
111
|
525,000
|
|||||||||||
GLOBAL FIXED INCOME OPP FUND
|
1,121
|
1,250,000
|
|||||||||||
MORTGAGE SECURITIES TRUST
|
188
|
600,000
|
|||||||||||
NY MUNICIPAL MONEY MARKET TRUST
|
8
|
175,000
|
|||||||||||
TAX-FREE DAILY INC.
|
37
|
350,000
|
|||||||||||
U.S. GOVERNMENT SEC TR
|
429
|
750,000
|
|||||||||||
U.S. GOVERNMENT MONEY MARKET
|
579
|
900,000
|
|||||||||||
MORGAN STANLEY VARIABLE INVESTMENT SERIES
|
442.6
|
750,000
|
|||||||||||
MULTI CAP GROWTH
|
310
|
||||||||||||
EUROPEAN EQUITY
|
26
|
||||||||||||
INCOME PLUS
|
84
|
||||||||||||
LIMITED DURATION
|
23
|
||||||||||||
MORGAN STANLEY INSTITUTIONAL CLOSED END FUNDS
|
|||||||||||||
MSCE ASIA PACIFIC
|
248
|
600,000
|
|||||||||||
MSCE CHINA A SHARE
|
554
|
900,000
|
|||||||||||
MSCE EMERGING MARKETS
|
291
|
750,000
|
|||||||||||
MSCE EMERGING MARKETS DEBT
|
214
|
600,000
|
|||||||||||
MSCE EMERGING MARKETS DOMESTIC DEBT
|
1,046
|
1,250,000
|
|||||||||||
MSCE INDIA INVESTMENT FUND
|
368
|
750,000
|
|||||||||||
MSCE LATIN AMERICAN DISCOVERY
|
75
|
400,000
|
|||||||||||
MORGAN STANLEY INSTITUTIONAL FUND, INC.
|
20,631.6
|
2,500,000
|
|||||||||||
GLOBAL SUSTAIN PORTFOLIO (formerly GLOBAL QUALITY)
|
11
|
||||||||||||
ACTIVE INTERNATIONAL ALLOCATION
|
220
|
||||||||||||
ADVANTAGE
|
156
|
||||||||||||
GROWTH
|
6,291
|
||||||||||||
EMERGING MARKETS
|
1,369
|
||||||||||||
GLOBAL ADVANTAGE
|
33
|
||||||||||||
GLOBAL DISCOVERY
|
115
|
||||||||||||
GLOBAL FRANCHISE
|
1,337
|
||||||||||||
GLOBAL OPPORTUNITY
|
2,961
|
||||||||||||
GLOBAL REAL ESTATE
|
1,058
|
||||||||||||
INTERNATIONAL ADVANTAGE
|
609
|
||||||||||||
INTERNATIONAL EQUITY
|
3,275
|
||||||||||||
INTERNATIONAL OPPORTUNITY
|
1,337
|
||||||||||||
INTERNATIONAL REAL ESTATE
|
29
|
||||||||||||
GLOBAL INFRASTRUCTURE
|
355
|
||||||||||||
SMALL COMPANY GROWTH
|
298
|
||||||||||||
INSIGHT
|
110
|
||||||||||||
GLOBAL INSIGHT
|
13
|
||||||||||||
US REAL ESTATE
|
314
|
||||||||||||
EMERGING MARKETS FIXED INCOME OPPORTUNITIES
|
29
|
||||||||||||
FRONTIER MARKETS
|
417
|
||||||||||||
MULTI-ASSET
|
49
|
||||||||||||
EMERGING MARKETS LEADERS
|
57
|
||||||||||||
EMERGING MARKETS SMALL CAP
|
62
|
||||||||||||
ASIA OPPORTUNITY PORTFOLIO
|
44
|
||||||||||||
GLOBAL CONCENTRATED PORTFOLIO
|
23
|
||||||||||||
GLOBAL CORE PORTFOLIO
|
13
|
||||||||||||
US CORE PORTFOLIO
|
13
|
||||||||||||
EMERGING MARKETS BREAKOUT NATIONS
|
6
|
||||||||||||
GLOBAL COUNTERPOINT PORTFOLIO
|
7
|
||||||||||||
GLOBAL CONCENTRATED REAL ESTATE PORTFOLIO
|
5
|
||||||||||||
REAL ASSETS PORTFOLIO
|
15
|
MORGAN STANLEY INSTITUTIONAL FUND TRUST
|
13,242.7
|
2,500,000
|
|||||||||||
GLOBAL STRATEGIST
|
365
|
||||||||||||
CORE PLUS FIXED INCOME
|
449
|
||||||||||||
CORPORATE BOND
|
117
|
||||||||||||
SHORT DURATION INCOME PORTFOLIO
|
191
|
||||||||||||
MID CAP GROWTH
|
714
|
||||||||||||
HIGH YIELD
|
191
|
||||||||||||
STRATEGIC INCOME
|
21
|
||||||||||||
GLOBAL MULT-ASSET INCOME PORT
|
28
|
||||||||||||
ULTRA SHORT INCOME PORTFOLIO
|
11,166
|
||||||||||||
MORGAN STANLEY INSTITUTIONAL LIQUIDITY FUNDS
|
101,891.8
|
2,500,000
|
|||||||||||
GOVERNMENT
|
53,340
|
||||||||||||
GOVERNMENT SECURITIES
|
3,049
|
||||||||||||
MONEY MARKET
|
1,687
|
||||||||||||
PRIME PORTFOLIO
|
7,202
|
||||||||||||
TAX-EXEMPT
|
408
|
||||||||||||
TREASURY
|
14,446
|
||||||||||||
TREASURY SECURITIES
|
21,759
|
||||||||||||
MORGAN STANLEY VARIABLE INSURANCE FUND, INC.
|
2,053.6
|
1,700,000
|
|||||||||||
GROWTH
|
329
|
||||||||||||
CORE PLUS FIXED INCOME
|
241
|
||||||||||||
EMERGING MARKETS EQUITY
|
322
|
||||||||||||
EMERGING MARKETS DEBT
|
198
|
||||||||||||
GLOBAL FRANCHISE
|
37
|
||||||||||||
GLOBAL REAL ESTATE
|
76
|
||||||||||||
GLOBAL STRATEGIST
|
139
|
||||||||||||
MID CAP GROWTH
|
156
|
||||||||||||
US REAL ESTATE
|
469
|
||||||||||||
GLOBAL INFRASTRUCTURE
|
85
|
||||||||||||
FUNDS OF HEDGE FUNDS
|
|||||||||||||
AIP Multi Strategy A
|
86.2
|
450,000
|
|||||||||||
AIP Multi Strategy P
|
28.5
|
300,000
|
|||||||||||
Alternative Investment Partners Absolute Return Fund
|
544.7
|
900,000
|
|||||||||||
Alternative Investment Partners Absolute Return Fund STS
|
277.6
|
750,000
|
|||||||||||
AIP Macro Fund A
|
33.6
|
300,000
|
|||||||||||
AIP Macro Fund P
|
17.1
|
225,000
|
|||||||||||
Morgan Stanley Institutional Fund of Hedge Funds
|
417.4
|
750,000
|
|||||||||||
IFHF Special Purpose Vehicle
|
15.8
|
225,000
|
|||||||||||
COMBINED TOTAL
|
145,953
|
24,950,000
|
|||||||||||
(CURRENT AMOUNT OF FIDELITY BOND IN EFFECT IS $40 MILLION)
|
|||||||||||||
Bond Coverage
|
40,000,000
|
||||||||||||
Excess Reserve
|
15,050,000
|