Morgan Stanley Mutual Fund (MSMF) has been set up as a Trust by the Morgan Stanley. During the year ended March 31, 2011, MSMF had four schemes: two equity oriented schemes, Morgan Stanley Growth Fund and Morgan Stanley A.C.E. Fund (MSACE), and two debt oriented schemes, Morgan Stanley Short Term Bond Fund (MSSTBF) and Morgan Stanley Active Bond Fund (MSABF). The investment objective of the Morgan Stanley Growth Fund scheme is to achieve long-term capital appreciation by investing primarily in equity and equity related securities of companies having large market capitalization. MSACE is an open-ended equity scheme, which proposes to generate long-term capital growth from actively managed portfolio of equity and equity-related securities. MSSTBF is an open-ended oriented debt scheme, which aims to generate income from a diversified portfolio of short to medium-term debt and money market securities. Morgan Stanley Investment Management Private Limited is the Company's asset manager.