Strategy. The Adviser and/or the Funds Sub-Adviser, Morgan Stanley Investment Management Limited (MSIM Limited), seek to identify securities of issuers located throughout the world, including developed and emerging market countries, that they believe are Stars, which for this purpose are growth-oriented high quality compounders, that is, high quality companies characterized by difficult to replicate intangible assets (such as intellectual property, brands, or network effects) with a large growth opportunity and high returns on incremental operating capital employed. The Adviser and/or Sub-Adviser also seek to identify capable management teams able to allocate incremental capital effectively to grow the franchise, maintain the intangible assets and sustain or improve returns on operating capital. As a part of the investment process, the Adviser and/or Sub-Adviser … Show more… The Adviser and/or the Funds Sub-Adviser, Morgan Stanley Investment Management Limited (MSIM Limited), seek to identify securities of issuers located throughout the world, including developed and emerging market countries, that they believe are Stars, which for this purpose are growth-oriented high quality compounders, that is, high quality companies characterized by difficult to replicate intangible assets (such as intellectual property, brands, or network effects) with a large growth opportunity and high returns on incremental operating capital employed. The Adviser and/or Sub-Adviser also seek to identify capable management teams able to allocate incremental capital effectively to grow the franchise, maintain the intangible assets and sustain or improve returns on operating capital. As a part of the investment process, the Adviser and/or Sub-Adviser assesses relevant factors (risks and opportunities) material to growth potential and generating high returns on incremental operating capital over the long term, including, but not limited to, factors relating to investment in intangible assets, capability of management, potential for disruption, current and anticipated industry competition and environmental, social and governance (ESG) factors. The Adviser and/or Sub-Adviser believe that the number of issuers with growing high-quality businesses meeting their criteria may be limited, and accordingly, the Fund may concentrate its holdings in a relatively small number of companies. The Funds equity investments, including depositary receipts, may include convertible securities. The Fund may invest in equity securities of companies of any market capitalization. The Fund may use derivatives for reducing risks (hedging) and costs, and for investment purposes. Show less