The closed-end Morgan Stanley Growth Fund ('MSGF') has informed the stock exchanges its intent to convert into an open-end fund. The Trustees of the Fund have approved the open ending of MSGF. Morgan company has informed SEBI about the decision of the trustee to convert MSGF in to an open ended scheme including consequent delisting of units of MSGF.
The complete process is likely to take three to four months as it will require SEBI clearing proposal and the delisting of the Morgan Staley Growth Fund from the six stock exchanges which includes an open-offer for a minimum period of three months.
Morgan Stanley Growth Fund has an NAV of Rs 63.37 (as on Feb 5, 2008) and was trading firm at Rs 58.05 in a falling market. It hit an all time high NAV of Rs 74.10 on January 4, 2008.
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