Morgan Stanley Institutional Fund, Inc. Global Stars Portfolio Class R6

The investment team believes that growth oriented quality companies with the ability to invest incremental capital at high rates of return should compound shareholder wealth over the long term. Such businesses are typically characterized by difficult to replicate intangible assets with large end markets to grow into, high returns on incremental operating capital employed on an unlevered basis and high gross margins. Quality growth compounders should combine compelling growth potential supported by strong franchises with capable management.