Morgan Stanley Launches Uncommon Values Trust, 2015 Series

NEW YORK--()--Morgan Stanley Wealth Management recently launched the 2015 series of two unit investment trusts: The Uncommon Values UIT and Uncommon Values Growth & Income UIT. The two trusts are based on Morgan Stanley’s Vintage Values research report.

“Morgan Stanley has been a sponsor in the UIT space since 2014. This has enabled us to bring all elements – stock selection, portfolio construction and distribution – together under one roof at the firm”

Each year, Morgan Stanley’s analysts present the stock ideas they believe most likely to realize superior risk-adjusted returns over the next 12 months to the Stock Selection Committee and Research Management. The committee then determines the final list for the Vintage Values report based on these presentations.

“The stocks in the Vintage Values report reflect the cornerstone strengths of Morgan Stanley’s analysts: their insight into emerging industry trends, rigorous bottom-up company analysis, and their assessment of what they believe to be among the most attractive risk/reward profiles — in fact, our analysts’ estimates are above Street consensus for every stock in the report,” said Stephen Penwell, Managing Director, Morgan Stanley & Co. North America Research.

The Uncommon Values UIT is a growth-oriented portfolio that seeks above-average capital appreciation and the Uncommon Values Growth & Income UIT is an income-oriented portfolio that is weighted more heavily toward dividend payers.

“Morgan Stanley has been a sponsor in the UIT space since 2014. This has enabled us to bring all elements – stock selection, portfolio construction and distribution – together under one roof at the firm," said Colbert Narcisse, Morgan Stanley Managing Director and Head of Traditional Investment Products.

This communication shall not constitute an offer to sell or a solicitation of an offer to buy; nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Investors should consider the investment objectives, risks, and charges and expenses carefully before investing. Investors should contact a Morgan Stanley Financial Advisor or call Morgan Stanley Smith Barney LLC at 1-800-869-0690 to request a prospectus, which contains this and other important portfolio information. Investors should read it carefully before investing.

These materials are intended only for Morgan Stanley Smith Barney LLC clients in the United States and prospective clients in the United States.


Choosing an Uncommon Values UIT that is right for you depends on your tolerance for risk, among other things. As with any equity investment, unit prices will fluctuate and there is no assurance that prices will appreciate and not decline over the life of a Trust. Stock prices can be volatile and holders can lose money by investing in a Trust. In addition, the amount of dividends you receive depends on each issuer’s dividend policy, the financial condition of the securities and general economic conditions.

If you invest in a Trust, you should understand the potential risks associated with common stocks. Since the Trusts’ portfolios include securities of issuers located in foreign markets, the Trusts may be more affected by the risks of investing in foreign securities, which include economic, political, monetary and/or legal factors, changing currency exchange rate, foreign taxes and differences in financial and accounting standards. In addition, the Trusts’ portfolios invest significantly in one or more sectors. Because of their narrow focus, sector investments tend to be more volatile than investments that diversify across many sectors and companies. Morgan Stanley Smith Barney LLC and its affiliates do not provide tax or legal advice. Clients should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor.

Each portfolio is a unit investment trust, which uses a buy and hold strategy that is designed to remain fixed over its 15- month life. The UIT issues redeemable securities or “units” at prices based on net asset value. Units can be sold at any time, at a price that will reflect the net asset value on the date of sale less any remaining deferred sales charge. The proceeds may be more or less than the cost. You can opt for dividends to be reinvested in additional units or paid out in cash. These trusts are part of a long-term strategy and investors should consider their ability to invest in successive portfolios at the applicable sales charge, if available.

While the Uncommon Values UITs are based in part on research published by Morgan Stanley & Co. LLC Research (“Morgan Stanley Research”), the securities in each trust were selected by Morgan Stanley Smith Barney LLC, its affiliate and Sponsor of the Trust. Other than providing research, Morgan Stanley Research is not liable for any information contained in the prospectus which it did not provide. The Trust is not sponsored or endorsed by Morgan Stanley Research. Morgan Stanley Research makes no representation or warranty, express or implied, to the unitholders of the Trust or any member of the public regarding the advisability of investing in units of the Trust. Morgan Stanley Research has no obligation or liability in connection with the investment decisions made by the Sponsor or the Trust or in connection with the administration of the Trust. You should note that the Trust may continue to purchase or hold securities, notwithstanding the fact that Morgan Stanley Research may have revised its opinion with respect to any individual security based on the selection process employed by Morgan Stanley Research when preparing the original report or any subsequent report. In particular, any subsequent publication of a similar type of list of securities or an update of any above referenced report by Morgan Stanley Research will not affect the composition of the trust.

This UIT is offered by Morgan Stanley Smith Barney LLC to its clients exclusively by Morgan Stanley Financial Advisors. While the compensation payable to your Financial Advisor on the sale of this unit investment trust is the same as for other unit investment trusts offered by other sponsors, Morgan Stanley Smith Barney LLC receives additional compensation and fees for creating and servicing the Trust as Sponsor. This compensation is a variable percentage of total sales of the Trust, in addition to a portion of the gross sales charge on total sales that is not payable as compensation to Financial Advisors. These amounts, which exceed the amount Morgan Stanley Smith Barney LLC receives on sales of unit investment trusts from other sponsors, may represent a conflict of interest for Morgan Stanley and its Financial Advisor when offering the trust."

The Sponsor and its affiliates may use the list of securities included in the Trust and distribute this information to various individuals and entities. The Sponsor and its affiliates may recommend to other clients or otherwise effect transactions in the securities held by the Trust. This may have an adverse effect on the prices of the securities. This also may have an impact on the price the Trust pays for the securities and the price received upon unit redemptions or liquidation of the securities. The Sponsor and its affiliates also issue reports and make recommendations on securities, which may include the securities in the Trust. In addition, the Sponsor and its affiliates in their general securities businesses may act as agent or principal in connection with buying and selling securities, including the securities held by the Trust, and may have bought the securities held in the Trust, thereby benefiting. In the future, the Sponsor and its affiliates may seek to provide investment banking or other services to any of the issuers of the securities in the Trust.

S&P 500 Index is an unmanaged, market value-weighted index of 500 stocks generally representative of the broad stock market. An investment cannot be made directly in a market index.

Morgan Stanley Wealth Management, a global leader, provides access to a wide range of products and services to individuals, businesses and institutions, including brokerage and investment advisory services, financial and wealth planning, Global banking and lending, cash management, annuities and insurance, retirement and trust services.

Morgan Stanley (NYSE:MS) is a leading global financial services firm providing investment banking, securities, investment management and wealth management services. With offices in more than 43 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit

©2015 Morgan Stanley Smith Barney LLC. Member SIPC.

CRC 1276370 08/2015


Morgan Stanley Wealth Management
Media Relations
Margaret Draper, 914-225-6369

Recent Stories

RSS feed for Morgan Stanley

Morgan Stanley