Morgan Stanley Investment Management’s (MSIM) Opportunistic Mortgage Income Fund LP, a fund dedicated to investments in mortgage-related securities, held its final close with over USD450 million in capital commitments.
"The MSIM fixed income mortgage team has considerable expertise conducting security selection, analysing credit and managing risks within the complex mortgage market," says Michael Kushma, Chief Investment Officer of Morgan Stanley Investment Management Global Fixed Income. "This strong fundraising effort speaks to our track record of experience and achievement as well as to our clients’ expectations that the team will be able to exploit the current set of mortgage-related investment opportunities."
The objective of the Opportunistic Mortgage Income Fund is to maximise total return by targeting investments in a wide range of mortgage-related securities that may offer the potential for strong cash flow yields under multiple scenarios. The fund will be managed by the MSIM Global Fixed Income Group.
"We believe the USD8 trillion mortgage-backed securities market presents compelling opportunities for investors to selectively purchase residential and commercial mortgage-backed securities at attractive yields," says Sheila Huang, Head of the MSIM Mortgage Team. "The Opportunistic Mortgage Income Strategy combines a proprietary analysis of individual mortgage-backed securities with a portfolio-level hedging strategy to confidently navigate this market."
