Morgan Stanley (MS-L)

Morgan Stanley Wealth Management and Galaxy Digital Announce Referral Capability for In-Kind Creation of Spot Crypto ETP SharesJune 5, 2026 8:30 AM
Business Wire Morgan Stanley Wealth Management today announced a new referral arrangement with Galaxy Digital (“Galaxy”) through which eligible clients can lend cryptocurrency to Galaxy and receive shares of exchange-traded products (“ETPs”) with exposure to spot crypto, including, but not limited to, the Morgan Stanley Bitcoin Trust (MSBT), offered by Morgan Stanley Investment Management. This model is designed for clients that want to lend crypto assets for repayment in traditional investment products in an efficient manner, enabling portfolio integration, including margin and lending capabilities, while reducing onboarding times and costs. “Morgan Stanley has been investing in the DeFi space for some time, and we are proud to support a referral capability with Galaxy to provide Wealth Management clients with an institutionalized pathway that helps integrate digital assets into their portfolio,” said Alison Nest, Head of Investment Solutions Products, Morgan Stanley Wealth Management. “This referral arrangement represents a significant step forward in bridging traditional finance and decentralized finance, providing more investors with streamlined opportunities to diversify.” How it works Morgan Stanley Wealth Management is providing clients with educational resources about digital assets and facilitating referrals to Galaxy. Under Galaxy’s model, a client lends specified digital assets (e.g., Bitcoin, Ether, Solana) to Galaxy. Once Galaxy determines it can settle such loan in ETP shares, Galaxy will coordinate an in-kind creation with an Authorized Participant, and ETP shares will be delivered into the client’s account of their choosing. Today, onboarding timelines for these transactions can exceed four weeks. Through the development of this referral capability, onboarding times may be reduced by as much as 75% in some cases. In addition, Galaxy will reduce its lending transaction minimum for Morgan Stanley-referred clients from $25 million to $5 million, expanding access to qualified clients who meet eligibility requirements. “We are excited to support referrals from Morgan Stanley Wealth Management to offer an efficient and secure path to access spot crypto ETPs,” said Zane Glauber, Global Head of Distribution at Galaxy. “Streamlined onboarding and lowered transaction minimums make it easier for clients to integrate digital assets alongside traditional investments, supporting a holistic approach to wealth management.” About Morgan Stanley Wealth Management 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, cash management and lending products, annuities and insurance, retirement and trust services. About Morgan Stanley Morgan Stanley (NYSE MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 41 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For more information, visit www.morganstanley.com. About Galaxy Galaxy Digital Inc. (Nasdaq: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we develop and operate cutting-edge data center infrastructure to power AI and HPC workloads. Our 1.6 GW Helios campus in Texas positions Galaxy among the largest and fastest-growing data center developers in North America. The Company is headquartered in New York City, with offices across North America, Europe, the Middle East, and Asia. Additional information about Galaxy's businesses and products is available on www.galaxy.com. Morgan Stanley Bitcoin Trust ("MSBT" or the "Trust"), an exchange traded product, is not registered under the Investment Company Act of 1940, as amended (the “40 Act”) and therefore is not subject to the same regulations and protections as 40 Act-registered ETFs and mutual funds. An investment in MSBT is subject to a high degree of risk and heightened volatility. MSBT is not suitable for an investor that cannot afford the loss of the entire investment. An investment in the Trust is not a direct investment in bitcoin. Definitions: In-Kind Exchanges or transfers allow investors to move investments or assets between accounts or vehicles without selling them or converting them to cash. Spot Crypto are exchange-based products that track the price of an asset, i.e. bitcoin, by holding the actual asset as the underlying asset. Eligible clients: All clients should consult their financial advisor to see if they meet the investment criteria. Margin refers to the ability to use eligible securities as collateral for other activities within a portfolio. An Authorized Participant is an organization that has the right to create and redeem shares of an ETP. The primary purpose is to ensure liquidity and ETP price alignment with net asset values (NAV). Disclosures: On an unsolicited basis, Morgan Stanley will refer clients to Galaxy for onboarding and execution. Galaxy makes account decisions; Morgan Stanley does not control, supervise, or participate in Galaxy’s onboarding or its provision of any services, and Morgan Stanley does not provide a recommendation or endorsement to clients regarding Galaxy or spot crypto to ETP exchanges. Galaxy and Morgan Stanley are not affiliated. Clients are responsible for their own due diligence and should consult their own tax and legal advisors. Morgan Stanley Wealth Management will not receive compensation in connection with the referral or the transaction executed at Galaxy. Fees disclosed by Galaxy are currently indicated as 15–25 bps, subject to transaction specifics. Spot cryptocurrency ETPs are not registered investment companies under the Investment Company Act of 1940, and therefore are not subject to the same regulatory requirements as mutual funds or traditional exchange traded funds. Shareholders do not have the same regulatory protections associated with registered investment companies. Trading and owning digital assets involves significant risk, including the risk of complete loss. This solution is not available for clients in all jurisdictions. Margin borrowing increases risk and may result in losses greater than the amount invested; you may be required to deposit additional funds or securities on short notice, and Morgan Stanley may liquidate securities in your account to meet a margin call. Lending products are subject to credit approval and other terms and conditions. Morgan Stanley Bitcoin Trust Disclosure Investing in digital assets involves risk, including possible loss of principal. An investment in Morgan Stanley Bitcoin Trust (“MSBT” or the “Trust”) is subject to a high degree of risk and heightened volatility. MSBT is not suitable for any investor that cannot afford loss of the entire investment. Morgan Stanley Investment Management Inc is the Delegated Sponsor and Foreside Fund Services, LLC is the Marketing Agent for MSBT. Foreside Fund Services, LLC, is not affiliated with Morgan Stanley Wealth Management or Galaxy Digital. This information must be preceded or accompanied by a prospectus, click here to view or download prospectus. We advise you to consider the Trust’s objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other important information about the Trust. Please read the prospectus carefully before you invest. The Trust is not registered under the Investment Company Act of 1940, as amended (the “40 Act”) and is not subject to regulation under the 40 Act, unlike most mutual funds or ETFs. The Trust may trade at a premium or discount to its net asset value. The Trust is new and has a limited operating history upon which investors may base an evaluation of its likely performance. The value of the Trust relates directly to the value of the underlying digital asset it holds, the value of which is highly volatile and subject to fluctuations due to a number of factors. The Trust relies on third party service providers to perform certain functions essential to the affairs of the Trust. Some of these service providers may not be subject to federal regulation and oversight and the replacement of such service providers could pose a challenge to the safekeeping of the digital asset and to the operations of the Trust. No guarantee or representation is made that the Trust’s investment strategy, including, without limitation, its investment objectives or strategies, will be successful, and investment results may vary substantially over time. Nothing herein is intended to imply that the Trust’s investment methodology or that investing may be considered “conservative,” “safe,” “risk free,” or “risk averse.” This material is not an offer or solicitation of any kind to buy or sell any securities outside of the United States of America. Nothing in this content should be considered a solicitation to buy or an offer to sell shares of any investment in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction, nor is it intended as investment, tax, financial, or legal advice. Investors should seek such professional advice for their particular situation and jurisdiction. Digital Asset Risk Disclosures Many digital assets, including bitcoin, have experienced significant volatility in trading prices in recent periods and may continue to experience such volatility in the future. Such volatility in digital asset prices could have a material adverse effect on the value of the Trust and the shares could lose all or substantially all of their value. Digital assets represent a new and rapidly evolving industry. The value of the Trust depends, among other things, on the acceptance of the digital assets in general and bitcoin in particular, the capabilities and development of blockchain technologies and the fundamental investment characteristics of bitcoin. Digital asset networks are developed and maintained by a diverse set of contributors and the perception that certain contributors will no longer contribute to the network or may decrease their contributions to, or involvement with the network could have an adverse effect on the market price of the related digital asset. Digital assets may have concentrated ownership and large sales or distributions by holders of such digital assets could have an adverse effect on the market price of such digital assets. The Trust holds bitcoin; however, an investment in the Trust is not a direct investment in bitcoin. As a non-diversified and single industry fund, the value of the shares may fluctuate more than shares invested in a broader range of industries. Because the value of the Trust is correlated with the value of bitcoin, it is important to understand the investment attributes of, and the market for, the underlying digital asset (bitcoin). Please consult with your financial professional. A substantial direct investment in digital assets may require expensive and sometimes complicated arrangements in connection with the acquisition, security and safekeeping of the digital asset and may involve the payment of substantial fees to third party service providers through cash payments of U.S. dollars. Regulation of digital assets, including bitcoin, continues to evolve across different jurisdictions worldwide, which may cause uncertainty and insecurity as to the legal and tax status of a given digital asset. As bitcoin and digital assets have grown in both popularity and market size, the U.S. Congress and a number of U.S. federal and state agencies have been examining the operations of digital asset networks, digital asset users and the digital asset spot market. Many of these state and federal agencies have brought enforcement actions and issued advisories and rules relating to digital asset markets. Ongoing and future regulatory actions with respect to digital assets generally or any single digital asset in particular may alter, perhaps to a materially adverse extent, the nature of an investment in the Trust. The Delegated Sponsor does not store, hold, or maintain custody or control of the Trust’s digital assets but instead has entered into Custodial Services Agreements with third parties to facilitate the security of its bitcoin. The Custodians control and secure the Trust’s bitcoin, in segregated custody accounts to store private keys, which allows for the transfer of ownership or control of the Trust’s bitcoin, on the Trust’s behalf. If a Custodian resigns or is removed by the Delegated Sponsor or otherwise, without replacement, it could trigger early termination of the Trust. The net assets of the Trust and its shares are valued on a daily basis with reference to CoinDesk Bitcoin Benchmark Rate, a standardized reference rate published by COINDESK®. COINDESK® and the Trust's applicable reference rate (the "Index") are trade or service marks of CoinDesk Indices, Inc. (with its affiliates, including CC Data Limited, “CDI”), and/or its licensors. CDI or CDI's licensors own all proprietary rights in the Index. CDI is not affiliated with Morgan Stanley Investment Management Inc. and does not approve, endorse, review, or recommend the Trust. CDI does not guarantee the timeliness, accurateness, or completeness of any data or information relating to any Index and shall not be liable in any way to Morgan Stanley Investment Management Inc., investors in or holders of any of the Trust or other third parties in respect of the use or accuracy of any Index or any data included therein. Diversification does not ensure a profit or protect against loss. Before making an investment decision, you should carefully consider the risk factors and other information included in the prospectus. Investors should be aware that investing in MSBT is not equivalent to investing directly in bitcoin. Forward-Looking Statements Certain statements contained herein and in any related materials may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can generally be identified by the use of words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "project," "seek," "should," "target," "will," "would," or similar expressions, or the negative of such terms. These statements are based on current expectations, estimates, assumptions, and projections and are subject to significant risks, uncertainties, and other factors that may cause actual results, performance, or developments to differ materially from those expressed or implied by such statements. Forward-looking statements speak only as of the date on which they are made. The Trust undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by applicable law. ©2026 Morgan Stanley Smith Barney LLC. Member SIPC. All rights reserved. View source version on businesswire.com: https://www.businesswire.com/news/home/20260605548390/en/ Media Contacts:
Morgan Stanley Media Contact: Susan Siering, susan.siering@morganstanley.com
Galaxy Media Contact: Michael Wursthorn, media@galaxy.com Original: Morgan Stanley Wealth Management and Galaxy Digital Announce Referral Capability for In-Kind Creation of Spot Crypto ETP Shares

217 MS another green day going 🚀

Hopefully forward split soon 🚀

Morgan Stanley Expansion Capital Leads $33 Million Growth Financing For Subtle MedicalJune 2, 2026 8:15 AM
Business Wire Morgan Stanley Investment Management announced today that funds managed by Morgan Stanley Expansion Capital have led a $33 million growth financing for Subtle Medical (the Company), a medical imaging software company using artificial intelligence to improve imaging workflow efficiency and image quality across MRI, PET and CT. The financing included participation from Shinhan Venture Investment and existing investors Fusion Fund, EnvisionX, BRV, and Samsung Ventures, bringing Subtle Medical’s total capital raised to $86 million. Based in Menlo Park, CA, Subtle Medical develops vendor-neutral software designed to operate across existing imaging equipment, regardless of manufacturer. Its solutions are used by hospitals and imaging centers to support scan-time reduction, image enhancement, dose optimization and imaging standardization workflows without requiring immediate replacement of existing scanner infrastructure. “Medical imaging is a critical component of healthcare delivery and is under increasing operational pressure from rising scan volumes, capacity constraints and aging infrastructure,” said Kevin Han, Executive Director at Morgan Stanley Expansion Capital. “We believe Subtle Medical’s software platform addresses a clear market need by helping providers improve utilization of existing imaging assets, support clinical quality and expand patient access.” The financing is expected to support Subtle Medical’s continued product development and commercial expansion across the United States and international markets. Subtle Medical’s portfolio includes 11 FDA-cleared software products for MRI, PET and CT workflows, and its technology is deployed on more than 1,300 scanners globally. The Company also continues to develop its AI Imaging Hub, a vendor-neutral platform intended to help providers manage imaging performance across modalities and scanner fleets. “This is a meaningful moment for Subtle Medical. We have clinical validation, a growing installed base, and a platform architecture that scales across modalities – and now the capital and partnership to accelerate that globally,” said newly appointed Subtle Medical CEO, Ohad Arazi. “Morgan Stanley Expansion Capital brings a long-term perspective with broad healthcare experience that will be valuable as we expand adoption across modalities and geographies.” Subtle Medical’s approach reflects a broader shift toward software-based infrastructure in healthcare, where providers are increasingly seeking tools that can improve productivity, interoperability and access while extending the value of existing capital equipment. About Subtle Medical
Subtle Medical is a leading provider of AI-powered imaging solutions, optimizing scanner efficiency and image quality across radiology. Recognized by TIME on its World's Top HealthTech Companies of 2025 list and multiple times by CB Insights as a GenAI 50, Digital Health 150, and Top AI 100 company, Subtle Medical is committed to transforming medical imaging through intelligent software solutions. The company's products are deployed on over 1000 scanners worldwide, helping imaging centers and hospitals deliver faster scans, improved image quality, and better patient care, without the need for new hardware. Learn more at www.subtlemedical.com. About Shinhan Venture Investment
Shinhan Venture Investment is a Seoul-based venture capital firm and affiliate of Shinhan Financial Group (NYSE: SHG), one of Korea's leading financial institutions. Founded in 2000, Shinhan Venture Investment focuses on early-to-growth stage investments across technology, healthcare, and other high-growth sectors, leveraging the financial network and resources of Shinhan Financial Group to support a portfolio of over 160 investments in domestic and international markets. About Morgan Stanley Expansion Capital
Morgan Stanley Expansion Capital is the growth-focused private investment platform within Morgan Stanley Investment Management. Morgan Stanley Expansion Capital targets late-stage growth equity and credit investments within healthcare, technology, consumer, and other high-growth sectors. For nearly four decades, Morgan Stanley Expansion Capital has successfully pursued growth investment opportunities and has completed investments in over 220 companies, leveraging the global brand and network of Morgan Stanley. Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 1,300 investment professionals around the world and $1.9 trillion in assets under management or supervision as of March 31, 2026. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service, and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im. About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260601886403/en/ Media Relations
Alyson Barnes: alyson.barnes@morganstanley.com Original: Morgan Stanley Expansion Capital Leads $33 Million Growth Financing For Subtle Medical

Ted Pick to Speak at the Annual Morgan Stanley U.S. Financials ConferenceMay 27, 2026 4:30 PM
Business Wire Ted Pick, Chairman and Chief Executive Officer of Morgan Stanley, will speak at the Annual Morgan Stanley U.S. Financials Conference on June 9, 2026, at 12:05 p.m. (ET). Both live and on-demand versions of the webcast will be available on www.morganstanley.com in the Investor Relations section. Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260527466175/en/ Media Relations: Wesley McDade, 212.761.2430 Investor Relations: Leslie Bazos, 212.761.5352 Original: Ted Pick to Speak at the Annual Morgan Stanley U.S. Financials Conference

Broke 200 MS 🚀

Hour Children and Mental Health Innovations Teams Win Morgan Stanley’s 2026 Strategy Challenge Supporting Nonprofits in the U.S. and the UKMay 21, 2026 4:43 PM
Business Wire Morgan Stanley employees provided over 11,000 hours of pro bono consulting to 14 nonprofits 220 nonprofits served since the program’s launch in 2009 Morgan Stanley (NYSE: MS) today announced the winners of its 17th annual Strategy Challenge, the Firm’s flagship pro bono program which brings together rising talent to help nonprofits solve strategic, mission-critical challenges. The winning teams supported Hour Children in the U.S. and Mental Health Innovations in the UK. Over the past 10 weeks, Morgan Stanley employees provided in-depth, pro bono consulting services to 14 nonprofits on topics such as expanding programming, enhancing productivity, and improving service delivery and business models. The 2026 Strategy Challenge culminated in events in New York and London, where teams presented their recommendations to nonprofit sector experts and senior leaders at the Firm. “Drawing on the breadth of talent across Morgan Stanley, the Strategy Challenge is a powerful example of how our employees leverage their skill sets to make a concrete impact on our communities,” said Joan Steinberg, Global Head of Philanthropy at Morgan Stanley and President of the Morgan Stanley Foundation. “Through rigorous analysis and fresh perspectives, this year’s teams all developed actionable proposals to help nonprofits improve their operations and advance their missions to address important issues facing society.” In the U.S., the winning team worked with Hour Children, an organization that helps currently and formerly incarcerated women reunify with their children and rebuild stable, independent lives. Morgan Stanley employees analyzed how the nonprofit can more effectively deliver financial literacy programming to members of its Hour Working Women Program. The team developed a plan for a hybrid education model consisting of CFP®-led in-class instruction, one-on-one virtual coaching and on-demand mobile support intended to reinforce long-term financial stability for participants. “The new financial literacy curriculum will be a valuable addition to our programming, helping us equip women and children impacted by incarceration with the tools needed for financial stability and independence,” said Dr. Kimberly Cason, Director of Hour Children’s Hour Working Women Program. “The Morgan Stanley team demonstrated an outstanding understanding of the lived realities of the families we serve, which made their recommendations highly relevant, thoughtful and impactful.” The winning UK team worked with Mental Health Innovations, a charity that uses digital innovation and clinical expertise to improve mental health outcomes across the country. The Morgan Stanley volunteers explored how Mental Health Innovations could collaborate with fellow mental health nonprofit Place2Be to develop a digital early intervention platform for children ages 10-13, co-designed with young people and embedded with safety measures to ensure proper human intervention and crisis escalation. The team’s winning proposal includes a scalable operating and funding model for the platform, which expands user access in a timely manner while reducing pressure on existing services. “The level of commitment, dedication and creativity shown by our Morgan Stanley Strategy Challenge team was outstanding,” said Victoria Hornbey, CEO of Mental Health Innovations. “The recommendations for a comprehensive new product will allow us to move further and faster in our mission to improve the mental health and wellbeing of children across the UK.” The 14 nonprofits that participated in this year’s Strategy Challenge across the U.S. and the UK include: Ambitious about Autism, Cancer Research UK, Center for Independence of the Disabled NY, Commonpoint, Day Care Council of New York, Exhale to Inhale, The Felix Project & FareShare, Guide Dogs, Harlem School of the Arts, The HOPE Program, Hour Children, Mental Health Innovations, MorDance, and Welcome to Chinatown. For more on the Morgan Stanley Strategy Challenge and each of the participating organizations, click here. About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com. Disclosures:
Inclusion of, and references to, outside parties does not constitute an endorsement. Opinions or views expressed by an outside party are solely their own. This communication contains links to third-party websites. These links are provided only as a convenience. The inclusion of any link is not and does not imply an affiliation, sponsorship, endorsement, approval, investigation, verification or monitoring by Morgan Stanley of any information contained in any third-party website. In no event shall Morgan Stanley be responsible for the information contained on that site or your use of or inability to use such site. You should also be aware that the terms and conditions of such site and the site's privacy policy may be different from those applicable to your use of this website. ©2026 Morgan Stanley. All rights reserved. View source version on businesswire.com: https://www.businesswire.com/news/home/20260521448396/en/ Media Relations Contact:
Carrie Hall
Carrie.Hall@morganstanley.com Original: Hour Children and Mental Health Innovations Teams Win Morgan Stanley’s 2026 Strategy Challenge Supporting Nonprofits in the U.S. and the UK

Morgan Stanley Declares Dividends on Its Preferred StockMay 15, 2026 4:30 PM
Business Wire Morgan Stanley today declared a regular dividend on the outstanding shares of each of the following preferred stock issues: Floating Rate Non-Cumulative Preferred Stock, Series A - $292.89 per share (equivalent to $0.292888 per Depositary Share)
10 Percent Non-Cumulative Non-Voting Perpetual Preferred Stock, Series C - $25.00 per share
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series E - $450.26 per share (equivalent to $0.450260 per Depositary Share)
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series F - $434.46 per share (equivalent to $0.434462 per Depositary Share)
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series I - $402.86 per share (equivalent to $0.402865 per Depositary Share)
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K - $365.63 per share (equivalent to $0.365625 per Depositary Share)
4.875 Percent Non-Cumulative Preferred Stock, Series L - $304.69 per share (equivalent to $0.304688 per Depositary Share)
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series N - $1,793.62 per share (equivalent to $17.936151 per Depositary Share)
4.250 Percent Non-Cumulative Preferred Stock, Series O - $265.63 per share (equivalent to $0.265625 per Depositary Share)
6.500 Percent Non-Cumulative Preferred Stock, Series P - $406.25 per share (equivalent to $0.406250 per Depositary Share)
6.625 Percent Non-Cumulative Preferred Stock, Series Q - $414.06 per share (equivalent to $0.414063 per Depositary Share) The dividend for the Preferred Stock Series N is payable on June 15, 2026 to stockholders of record at the close of business on May 29, 2026. The dividends for the Preferred Stock Series A, C, E, F, I, K, L, O, P and Q are payable on July 15, 2026 to stockholders of record at the close of business on June 30, 2026. Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260515497352/en/ Media Relations: Wesley McDade, 212.761.2430
Investor Relations: Leslie Bazos, 212.761.5352 Original: Morgan Stanley Declares Dividends on Its Preferred Stock

Morgan Stanley Sustainable Signals: Companies Continue Executing Sustainability Strategies But Progress Has Slowed, According to New SurveyMay 11, 2026 10:13 AM
Business Wire Over 90% of corporate decision-makers continue to advance sustainability strategies, yet fewer believe they are meeting or exceeding expectations Majority of respondents see sustainability as both a value creation and risk management exercise for their company Macroeconomic uncertainty and regulatory compliance rise significantly as factors compared to previous years 78% anticipate negative operational impacts from physical climate risks in next five years, up 10% from 2025 Globally, over 90% of sustainability leaders say their companies continue to execute on their sustainability strategies yet fewer believe they are meeting or exceeding expectations than in 2025, according to a new “Sustainable Signals” report by the Morgan Stanley Institute for Sustainable Investing. Nearly half (47%) now see room for improvement on progress — up more than 10 points from the 2025 and 2024 surveys. The survey polled 300 sustainability decision-makers at private and public companies across North America, Europe and Asia Pacific between March and April 2026 to understand how sustainability factors into their business and where they see the greatest opportunities and challenges. When asked how sustainability impacts their long-term corporate strategies, 62% now see it as both a value creation and risk management exercise compared to 35% in 2025. Simultaneously, there has been a 31 point decrease in companies viewing sustainability primarily as a value creation opportunity (22% in 2026 versus 53% in 2025). The external environment poses a greater challenge to corporate sustainability in 2026, with 36% citing macroeconomic uncertainty as a top barrier, up from 15% in 2025. High levels of investment required (39%) and lack of data (30%) rank as the other top barriers. External factors also top the list of reasons why companies are pursuing sustainability strategies, with regulatory compliance and investor expectations both cited as stronger motivators (49% versus 23%, and 42% versus 21%). Value creation remains the other top reason. “Our Sustainable Signals survey shows that corporates around the world continue to see the value of sustainability, but their motivations and concerns have shifted amid a complex operating environment,” said Jessica Alsford, Chief Sustainability Officer and Chair of the Institute for Sustainable Investing at Morgan Stanley. “Sustainability is becoming more integrated into core business strategies as macroeconomic uncertainty, rising costs, and regulatory and investor expectations increasingly shape decision-making.” Additional survey findings include: Opportunities – Over 50% of respondents see higher revenue growth or increased profitability as the primary way sustainability can create value for their organizations in the next five years. While more companies (14% versus 10%) report greater challenges in measuring ROI for sustainability investments, the majority (73%) continue to say they can achieve this as easily as they can for other activities. Climate Risk – On average, 78% of respondents anticipate negative operational impacts from physical climate risks in the next five years (up from 65%), including increased costs, higher investment requirements and greater investor scrutiny. The same percentage say they are prepared to meet these challenges, though just 19% feel “very prepared” (down from 34%). Corporate Governance – 63% of respondents say that key business decisions – such as capex and R&D budgeting, new product approvals or M&A – are subject to sustainability criteria (up from 51%). Around the same proportion (62%) report Board-level responsibility for sustainability (up from 42%). Most corporate sustainability decision-makers (90%) have broader roles, with their work reaching across functions including strategy, risk management or finance. 15% also contribute to their organizations’ AI governance. The Sustainable Signals series was launched in 2015 and measures the views of individual investors, institutional investors and corporates on sustainable investing. View the full results of the latest survey, including regional findings, here. About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com. About Morgan Stanley Institute for Sustainable Investing
The Morgan Stanley Institute for Sustainable Investing (The Institute), established in 2013, aims to accelerate the growth and adoption of sustainable finance across capital markets. The Institute produces thought leadership and develops partnerships and programs to inform and empower clients, investors and the next generation of sustainability leaders. For more information about the Morgan Stanley Institute for Sustainable Investing, visit www.morganstanley.com/sustainableinvesting. Disclosures This material was published in May 2026 and has been prepared for informational purposes only and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. This material was not prepared by the Morgan Stanley Research Department and is not a Research Report as defined under FINRA regulations. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Morgan Stanley Smith Barney LLC and Morgan Stanley & Co. LLC (collectively, “Morgan Stanley”), Members SIPC, recommend that recipients should determine, in consultation with their own investment, legal, tax, regulatory and accounting advisors, the economic risks and merits, as well as the legal, tax, regulatory and accounting characteristics and consequences, of the transaction or strategy referenced in any materials. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives. Morgan Stanley, its affiliates, employees and Morgan Stanley Financial Advisors do not provide tax, accounting or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning, and their attorney for matters involving legal matters. Past performance is not a guarantee or indicative of future performance. Historical data shown represents past performance and does not guarantee comparable future results. Certain statements herein may be “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not historical facts or statements of current conditions, but instead are based on management’s current expectations and are subject to uncertainty and changes in circumstances. These statements are not guarantees of future results or occurrences and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict and are often beyond our control. In addition, this report contains statements based on hypothetical scenarios and assumptions, which may not occur or differ significantly from actual events, and these statements should not necessarily be viewed as being representative of current or actual risk or forecasts of expected risk. Actual results and financial conditions may differ materially from those included in these statements due to a variety of factors. Any forward-looking statements made by or on behalf of Morgan Stanley speak only as to the date they are made, and Morgan Stanley does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made. Because of their narrow focus, sector investments tend to be more volatile than investments that diversify across many sectors and companies. Certain portfolios may include investment holdings deemed Environmental, Social and Governance (“ESG”) investments. For reference, environmental (“E”) factors can include, but are not limited to, climate change, pollution, waste, and how an issuer protects and/ or conserves natural resources. Social (“S”) factors can include, but not are not limited to, how an issuer manages its relationships with individuals, such as its employees, shareholders, and customers as well as its community. Governance (“G”) factors can include, but are not limited to, how an issuer operates, such as its leadership composition, pay and incentive structures, internal controls, and the rights of equity and debt holders. You should carefully review an investment product’s prospectus or other offering documents, disclosures and/or marketing material to learn more about how it incorporates ESG factors into its investment strategy. ESG investments may also be referred to as Sustainable investments, impact aware investments, socially responsible investments or diversity, equity, and inclusion (“DEI”) investments. It is important to understand there are inconsistent ESG definitions and criteria within the industry, as well as multiple ESG ratings providers that provide ESG ratings of the same subject companies and/or securities that vary among the providers. This is due to a current lack of consistent global reporting and auditing standards as well as differences in definitions, methodologies, processes, data sources and subjectivity among ESG rating providers when determining a rating. Certain issuers of investments including, but not limited to, separately managed accounts (SMAs), mutual funds and exchange traded-funds (ETFs) may have differing and inconsistent views concerning ESG criteria where the ESG claims made in offering documents or other literature may overstate ESG impact. Further, socially responsible norms vary by region, and an issuer’s ESG practices or Morgan Stanley’s assessment of an issuer’s ESG practices can change over time. Portfolios that include investment holdings deemed ESG investments or that employ ESG screening criteria as part of an overall strategy may experience performance that is lower or higher than a portfolio not employing such practices. Portfolios with ESG restrictions and strategies as well as ESG investments may not be able to take advantage of the same opportunities or market trends as portfolios where ESG criteria is not applied. There is no assurance that an ESG investing strategy or techniques employed will be successful. Past performance is not a guarantee or a dependable measure of future results. For risks related to a specific fund, please refer to the fund’s prospectus or summary prospectus. Investment managers can have different approaches to ESG and can offer strategies that differ from the strategies offered by other investment managers with respect to the same theme or topic. Additionally, when evaluating investments, an investment manager is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could cause the manager to incorrectly assess an investment’s ESG characteristics or performance. Such data or information may be obtained through voluntary or third-party reporting. Morgan Stanley does not verify that such information and data is accurate and makes no representation or warranty as to its accuracy, timeliness, or completeness when evaluating an issuer. This can cause Morgan Stanley to incorrectly assess an issuer’s business practices with respect to its ESG practices. As a result, it is difficult to compare ESG investment products. The appropriateness of a particular ESG investment or strategy will depend on an investor’s individual circumstances and objectives. Principal value and return of an investment will fluctuate with changes in market conditions. © 2026 Morgan Stanley & Co. LLC and Morgan Stanley Smith Barney LLC. Members SIPC. All rights reserved. View source version on businesswire.com: https://www.businesswire.com/news/home/20260508123262/en/ Media Relations Contact:
Carrie Hall
Carrie.Hall@morganstanley.com Original: Morgan Stanley Sustainable Signals: Companies Continue Executing Sustainability Strategies But Progress Has Slowed, According to New Survey

Morgan Stanley Alliance for Children’s Mental Health Announces 2026 Innovation Award Winners, Including Inaugural Next Gen LeadersMay 7, 2026 9:00 AM
Business Wire Morgan Stanley (NYSE: MS) today announced the 2026 winners of its Alliance for Children’s Mental Health (the “Alliance”) Innovation Awards, an initiative that funds and accelerates transformative solutions across the U.S to build a stronger mental health ecosystem for youth. Seven nonprofits—The Defensive Line, Lay Mental Health Advocates, Letters to Strangers, NoSo Connection Collective, Only7Seconds, Project:Camp and Project Sanctuary—were chosen for their cutting-edge solutions to the youth mental health crisis and their strategies for greater impact. Three of these winners fall into the new Next Gen category, aimed at expanding the mental health talent pipeline by supporting organizations founded or led by individuals under 32 years old. Selected from over 900 applicants, each winning organization will receive a grant to expand programming, as well as leadership training from industry experts, promotional support and networking opportunities with other nonprofits in the space. “As the mental health challenges facing our nation’s youth persist, so too does the need for bold, scalable solutions that meet young people where they are,” said Joan Steinberg, President of the Morgan Stanley Foundation and CEO of the Alliance for Children’s Mental Health’s Advisory Board. “This year’s Innovation Award winners—including our first cohort of Next Gen leaders—are rising to meet that need by reimagining how we address crises, deliver care and foster connection.” The following Next Gen Innovation Award winners will receive a $50,000 grant: The Defensive Line (Next Gen) seeks to end the youth suicide crisis by transforming communication and connection around mental health. Suicide Prevention Workshops train youth-serving adults to recognize mental health crises and strengthen response practices in schools and youth organizations. Lay Mental Health Advocates (Next Gen) trains and connects young adult volunteers with youth who are seeking support navigating the mental healthcare system. Mental Health Navigation trains young adults to provide emotional and care management support, helping peers access resources, stay in treatment and avoid crisis-driven pathways. Letters to Strangers (Next Gen) aims to destigmatize mental illness and expand access to youth-centered mental health support. Chapters facilitate peer-driven therapeutic letter exchanges, educational workshops and advocacy, and the Educator Fellowship equips teachers with skills needed to better support student mental health. The following 2026 Innovation Award winners will receive a $100,000 grant: NoSo Connection Collective empowers and equips young people with the tools, knowledge and practices to build a healthier tech-life balance. School and Community Engagement includes youth-led workshops, presentations, peer support discussions, and mindfulness events that foster healthy digital habits and strengthen connections to support youth mental wellbeing. Only7Seconds addresses youth loneliness by equipping young people to build meaningful connections and foster emotional wellbeing. Club7 scales peer-driven clubs that promote community, social health and digital wellness, providing youth leaders with resources and activities to spark meaningful connections. Project:Camp creates free, trauma-informed day camps for children impacted by disaster. Pop-Up Camps provide stopgap care in the immediate aftermath of disasters and expand a national network of trained youth professionals to rapidly deliver services in affected communities. Project Sanctuary offers therapeutic retreats and ongoing mental health support for military and first responder families. Pursuing Wellness addresses mental health needs for youth in at-risk families with a tailored curriculum, retreats and workshops to build stress management skills and emotional resilience. Now in its fifth year, the Innovation Awards program has provided over $2.5 million in grants to 27 organizations. The winners are selected by experts from the Alliance, which brings together leaders from Morgan Stanley and distinguished nonprofits in the children's mental health space. In addition to this year’s awards, over 130 nonprofits will participate in the Alliance’s Leadership Learning Series, which offers expert-led and peer-sharing sessions covering topics such as strategic development, funding for scaling and impact measurement. To learn more about the Innovation Awards and previous winners, visit here. About Morgan Stanley Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com. About Morgan Stanley Alliance for Children's Mental Health Launched in 2020, the Morgan Stanley Alliance for Children's Mental Health brings together key leaders in the children's mental health space and combines the resources and reach of Morgan Stanley with the knowledge and experience of its distinguished nonprofit member organizations. The Alliance helps strategically address children's mental health concerns and the far-reaching challenges of stress, anxiety, and depression. For more information about the Alliance, visit www.morganstanley.com/mentalhealthalliance. Disclosures: Inclusion of, and references to, outside parties does not constitute an endorsement. Opinions or views expressed by an outside party are solely their own. This communication contains links to third-party websites. These links are provided only as a convenience. The inclusion of any link is not and does not imply an affiliation, sponsorship, endorsement, approval, investigation, verification or monitoring by Morgan Stanley of any information contained in any third-party website. In no event shall Morgan Stanley be responsible for the information contained on that site or your use of or inability to use such site. You should also be aware that the terms and conditions of such site and the site's privacy policy may be different from those applicable to your use of this website. ©2026 Morgan Stanley. All rights reserved. View source version on businesswire.com: https://www.businesswire.com/news/home/20260506654606/en/ Media Relations Contact:
Carrie Hall
Carrie.Hall@morganstanley.com Original: Morgan Stanley Alliance for Children’s Mental Health Announces 2026 Innovation Award Winners, Including Inaugural Next Gen Leaders

Defining Moments Are Forcing Family Offices to InstitutionalizeMay 5, 2026 10:30 AM
Business Wire Morgan Stanley’s From Vision to Structure: Architecting a Family Office finds liquidity events, generational change and talent risk are accelerating a shift toward institutional grade models Family offices are increasingly operating like institutions as key events such as liquidity events expose the limits of informal governance and concentrated decision making, according to a new Morgan Stanley Wealth Management report, From Vision to Structure: Architecting a Family Office. Family offices most often professionalize in response to disruption rather than through gradual planning. Liquidity events, generational wealth transfers and leadership turnover frequently create pressure points that demand more formal governance, operational discipline and risk management. “Many families are reassessing what truly needs to be built internally within a family office versus where scale and strategic partnerships can add value and simplify structure,” said Stephanie Crombie, Managing Director and Co-Head of Morgan Stanley Family Office. “Access to institutional infrastructure, and specialized guidance and investment capabilities can help reduce operational burden, mitigate key person risk and position family offices to adapt as needs evolve over time.” Liquidity events such as business sales, IPOs and concentrated capital inflows are among the strongest catalysts identified. These moments often coincide with shifts in investment philosophy and require tighter oversight, documentation and controls to manage complexity at scale. Generational transitions represent another inflection point. As assets move across family branches and age cohorts, decision making authority can diffuse, governance structures are tested and education gaps emerge. These typically prompt families to formalize frameworks that previously relied on trust and proximity. The report also highlights key person risk as a significant vulnerability. The loss or departure of a chief investment officer, chief financial officer or executive director can disrupt operations, undermine institutional memory and expose governance gaps particularly where responsibilities are highly concentrated. “Institutionalization is not about ceding control,” said Stephen Wronski, Managing Director and Co-Head of Morgan Stanley Family Office. “It’s about building systems that allow decision-making autonomy to persist across market cycles, leadership changes and generations.” Many family offices are adopting hybrid operating models. These structures retain strategic decision making in house while relying on institutional partners for execution, reporting, technology and specialized expertise allowing families to scale without building large internal teams or assuming additional operational risk. The findings reflect a clear shift: family offices are increasingly functioning as enduring institutions, responsible not only for investment performance but also for governance, continuity and multigenerational alignment. From Vision to Structure: Architecting a Family Office is available at www.morganstanley.com/msfo About Morgan Stanley Wealth Management 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, cash management and lending products, annuities and insurance, retirement and trust services. Morgan Stanley (NYSE MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For more information, visit www.morganstanley.com. All opinions included in this material constitute the Firm’s judgment as of the date of this material and are subject to change without notice. This material was not prepared by the research departments of Morgan Stanley & Co. LLC or Morgan Stanley Smith Barney LLC. This material has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. It does not provide investment or trading advice. This is not an offer to sell or a solicitation of an offer to buy securities, products or services, by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. Not all products and services are available in all jurisdictions or countries. Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters. ©2026 Morgan Stanley Smith Barney LLC. Member SIPC. View source version on businesswire.com: https://www.businesswire.com/news/home/20260505025506/en/ Media Relations Contact: mediainquiries@morganstanley.com Original: Defining Moments Are Forcing Family Offices to Institutionalize

Morgan Stanley Investment Management Introduces Wealth Education CenterMay 4, 2026 3:02 PM
Business Wire Morgan Stanley Investment Management (MSIM) today announced the launch of the Wealth Education Center, a centralized education platform designed to help financial advisors translate growing market, tax and investment complexity into clear, practical guidance for their clients. “Advisors face a growing challenge as financial markets, products and tax considerations become more interconnected,” said Ben Huneke, Head of Morgan Stanley Investment Management. “They have access to more data, tools and solutions than ever, yet making confident, informed decisions has become increasingly difficult. The Wealth Education Center is designed to meet that challenge by equipping advisors with education that prioritizes relevance, clarity and proper application.” Built to support advisors serving high net worth and ultra-high net worth clients, the platform is organized around four core pillars: tax management, alternative investments, cross-asset investment insights and practice management. Led by Managing Director Brian Smith, the Wealth Education Center focuses on building advisor skills and expanding their capabilities in areas that directly affect investor outcomes—particularly in tax-aware investing, alternatives and portfolio construction across market environments. “In an industry flooded with information, clarity has become the scarcest resource,” said Smith, Head of the Wealth Education Center. “Our role is not to add to the noise, but to help advisors navigate it. Our curriculum and timely investment insights help advisors feel more confident and prepared to address difficult, nuanced challenges, which can lead to better client engagements and improved outcomes.” The Wealth Education Center offers dedicated resources and continuing education opportunities designed to expand investment acumen across four areas: The Tax Forward Investing Center includes courses and resources focused on investment tax management, including methods for identifying complex tax scenarios, evaluating solutions and applying core principles such as deferral strategies, vehicle selection, charitable giving and concentrated wealth planning. The Alternatives Investing Center provides educational resources spanning private markets with tutorials that help advisors understand, evaluate and implement alternative investment strategies. The BEAT (Bonds, Equities, Alternatives, Taxes) focuses on cross-asset investment insights that synthesize macro trends, market research and key findings distilled into actionable portfolio allocation ideas. The Advisor Institute highlights strategies, insights and workshops designed to help advisors grow their practices, deepen client relationships and navigate evolving client expectations. The Wealth Education Center will continue to evolve as advisor needs change. The platform will continue to leverage insights from across Morgan Stanley, including through the recently established Morgan Stanley Institute, to identify emerging themes and areas where focused education can help advisors enhance their understanding of nuanced financial situations and take action on behalf of their clients. “Markets will continue to evolve and financial instruments, tactics and strategies will grow increasingly complex,” Smith added. “We are committed to working with advisors to provide education, tools and resources to address investor challenges in a sophisticated way. The Wealth Education Center is designed to grow its repository of content with the changing financial landscape, which will help advisors stay grounded in what truly matters for their clients.” Advisors can access resources, courses, and specialized materials at the Wealth Education Center at https://www.eatonvance.com/wealtheducationcenter. About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 1,300 investment professionals around the world and $1.9 trillion in assets under management or supervision as of March 31, 2026. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service, and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im. About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com. Investing involves risk, including the loss of principal. There is no guarantee that any investment strategy will work under all market conditions, and each investor should evaluate their ability to invest for the long-term, especially during periods of downturn in the market. The views and opinions are those of the author as of the date of publication and are subject to change at any time due to market or economic conditions and may not necessarily come to pass. The views expressed do not reflect the opinions of all investment personnel at Morgan Stanley Investment Management (MSIM) and its subsidiaries and affiliates (collectively the Firm”), and may not be reflected in all the strategies and products that the Firm offers. This material is for the benefit of persons whom the Firm reasonably believes it is permitted to communicate to and should not be forwarded to any other person without the consent of the Firm. It is not addressed to any other person and may not be used by them for any purpose whatsoever. It expresses no views as to the suitability of the investments described herein to the individual circumstances of any recipient or otherwise. It is the responsibility of every person reading this material to fully observe the laws of any relevant country, including obtaining any governmental or other consent which may be required or observing any other formality which needs to be observed in that country. Unless otherwise stated, returns and market values contained herein are presented in dollars. This material is a general communication, which is not impartial, is for informational and educational purposes only, not a recommendation to purchase or sell specific securities, or to adopt any particular investment strategy. Information does not address financial objectives, situations or specific needs of individual investors. The information herein has not been based on a consideration of any individual investor circumstances and is not investment advice, nor should it be construed in any way as tax, accounting, legal or regulatory advice. To that end, investors should seek independent legal and financial advice, including advice as to tax consequences, before making any investment decision. The Firm does not provide tax advice. The tax information contained herein is general and is not exhaustive by nature. It was not intended or written to be used, and it cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer. Each Jurisdiction tax laws are complex and constantly changing. You should always consult your own legal or tax professional for information concerning your individual situation. The whole or any part of this material may not be directly or indirectly reproduced, copied, modified, used to create a derivative work, performed, displayed, published, posted, licensed, framed, distributed or transmitted or any of its contents disclosed to third parties without the Firm’s express written consent. This material may not be linked to unless such hyperlink is for personal and non-commercial use. All information contained herein is proprietary and is protected under copyright and other applicable law. Eaton Vance, Atlanta Capital, Parametric and Calvert are part of Morgan Stanley Investment Management. Morgan Stanley Investment Management is the asset management division of Morgan Stanley. DISTRIBUTION This material is only intended for and will only be distributed to persons resident in jurisdictions where such distribution or availability would not be contrary to local laws or regulations. MSIM, the asset management division of Morgan Stanley (NYSE: MS), and its affiliates have arrangements in place to market each other’s products and services. Each MSIM affiliate is regulated as appropriate in the jurisdiction it operates. MSIM’s affiliates are: Calvert Research and Management, Eaton Vance Management, Parametric Portfolio Associates LLC, Parametric SAS, and Atlanta Capital Management LLC. NOT FDIC INSURED | OFFER NO BANK GUARANTEE | MAY LOSE VALUE | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY | NOT A DEPOSIT
© 2026 Morgan Stanley. All rights reserved. View source version on businesswire.com: https://www.businesswire.com/news/home/20260504631851/en/ Media Relations Contacts:
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Colleen.McElhinney@morganstanley.com Original: Morgan Stanley Investment Management Introduces Wealth Education Center

AAA Fund Wins the 2026 Kellogg-Morgan Stanley Sustainable Investing ChallengeApril 28, 2026 9:15 AM
Business Wire

Sustainable Investing Challenge brings together future leaders addressing critical sustainability issues through innovative financial solutions



Team from the University of Chicago and Duke University awarded top prize for proposal to restore degraded coastal mangrove ponds in Indonesia



Second- and third-place prizes awarded to students from Duke University and Imperial College London



The Morgan Stanley Institute for Sustainable Investing and Kellogg School of Management at Northwestern University today announced that the AAA Fund team was named the winner of the 16th annual Kellogg-Morgan Stanley Sustainable Investing Challenge. The global competition inspires graduate students to address environmental and social issues through innovative financial vehicles. The winning team was one of 12 finalists selected from a record pool of applicants, which included 186 teams comprised of 618 students from 107 schools across 65 countries.


Graduate students from the University of Chicago and Duke University were awarded the top prize of $10,000 for their blended finance credit facility proposal to restore Indonesia's degraded coastal mangrove ponds through community cooperatives, generating returns from blue carbon credits and aggregated silvofishery shrimp sales. The AAA Fund team consisted of Afgan Gradiyanto, Aulia Ampri and Audrey Surya Prameswari Kharisma.


“The Sustainable Investing Challenge is a vibrant platform for the next generation of finance leaders to pitch financial solutions that target sustainability issues in economies and communities around the globe,” said Jessica Alsford, Morgan Stanley’s Chief Sustainability Officer and Chair of the Institute for Sustainable Investing. “The commitment and creativity of this year’s graduate students are inspiring, and we’re eager to see their bold ideas in action.”


The finalists proposed a wide variety of ideas, including collateral-free working capital for women-owned textile micro-enterprises in India, the conversion of seaweed into saleable bioproducts in the Caribbean, the expansion of local health clinics in underserved US communities and the adoption of precision agriculture in Germany’s Rhineland-Palitanate.


The second- and third-place prizes of $5,000 and $2,500 were awarded to the GeoServe team from Duke University and the Amazonia Yield Bond team from Imperial College London, respectively.


The GeoServe team, including Khushboo Garg, Ozioma Ozigbo, Amanda Murray and Lakshya Jain, presented a multi-stage capital platform plan to address geothermal heating and cooling infrastructure for energy-insecure, low-income communities in the US. The Amazonia Yield Bond proposal, developed by Greta Grote, Carl Klein von Wisenberg, Carl Witthoefft and Jonathan Wachsmuth, aims to finance agroforestry in the Brazilian Amazon by aggregating asset-backed loans to smallholder agricultural cooperatives and generating returns from carbon credits and sustainable timber.


“Since 2011, this competition has showcased the ingenuity and determination of students addressing some of the world’s most complex sustainability challenges, and 2026 was no exception,” said Dave Chen, Professor of Finance at Kellogg Management School, CEO of Equilibrium Capital and founder of the Sustainable Investing Challenge. “The finalists’ ability to translate innovative ideas into real-world solutions underscores the kind of practical thinking and leadership required to drive measurable impact.”


The three prize-winning teams were selected by a panel of sustainable finance experts and senior practitioners across the industry to advance to the final round, pitching to judges at Morgan Stanley in London on April 24, 2026.


More information on this year’s teams and their projects can be found here.


About Morgan Stanley

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.


About Morgan Stanley Institute for Sustainable Investing

The Morgan Stanley Institute for Sustainable Investing (The Institute), established in 2013, aims to accelerate the growth and adoption of sustainable finance across capital markets. The Institute produces thought leadership and develops partnerships and programs to inform and empower clients, investors and the next generation of sustainability leaders. For more information about the Morgan Stanley Institute for Sustainable Investing, visit www.morganstanley.com/sustainableinvesting.


About Kellogg School of Management

The Kellogg School of Management at Northwestern University develops brave leaders who inspire growth in people, organizations and markets. Based just outside of Chicago, the school is a global leader in management education, renowned for its distinctive thought leadership and pioneering approach to learning. Kellogg offers an innovative portfolio of programs: four Full-Time MBA programs including leading one-year program and joint degree programs with the engineering, law and medical schools; a Part-Time MBA Program; the premier Executive MBA global network; and extensive non-degree Executive Education programs. To learn more about Kellogg School of Management at Northwestern University, please visit http://www.kellogg.northwestern.edu.


Disclosures


This material was published in April 2026 and has been prepared for informational purposes only and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. This material was not prepared by the Morgan Stanley Research Department and is not a Research Report as defined under FINRA regulations. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.


Morgan Stanley Smith Barney LLC and Morgan Stanley & Co. LLC (collectively, “Morgan Stanley”), Members SIPC, recommend that recipients should determine, in consultation with their own investment, legal, tax, regulatory and accounting advisors, the economic risks and merits, as well as the legal, tax, regulatory and accounting characteristics and consequences, of the transaction or strategy referenced in any materials. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives. Morgan Stanley, its affiliates, employees and Morgan Stanley Financial Advisors do not provide tax, accounting or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning, and their attorney for matters involving legal matters.


Past performance is not a guarantee or indicative of future performance. Historical data shown represents past performance and does not guarantee comparable future results. Certain statements herein may be “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not historical facts or statements of current conditions, but instead are based on management’s current expectations and are subject to uncertainty and changes in circumstances. These statements are not guarantees of future results or occurrences and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict and are often beyond our control. In addition, this report contains statements based on hypothetical scenarios and assumptions, which may not occur or differ significantly from actual events, and these statements should not necessarily be viewed as being representative of current or actual risk or forecasts of expected risk. Actual results and financial conditions may differ materially from those included in these statements due to a variety of factors. Any forward-looking statements made by or on behalf of Morgan Stanley speak only as to the date they are made, and Morgan Stanley does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made. Because of their narrow focus, sector investments tend to be more volatile than investments that diversify across many sectors and companies.


Certain portfolios may include investment holdings deemed Environmental, Social and Governance (“ESG”) investments. For reference, environmental (“E”) factors can include, but are not limited to, climate change, pollution, waste, and how an issuer protects and/ or conserves natural resources. Social (“S”) factors can include, but not are not limited to, how an issuer manages its relationships with individuals, such as its employees, shareholders, and customers as well as its community. Governance (“G”) factors can include, but are not limited to, how an issuer operates, such as its leadership composition, pay and incentive structures, internal controls, and the rights of equity and debt holders. You should carefully review an investment product’s prospectus or other offering documents, disclosures and/or marketing material to learn more about how it incorporates ESG factors into its investment strategy.


ESG investments may also be referred to as sustainable investments, impact aware investments, socially responsible investments or diversity, equity, and inclusion (“DEI”) investments. It is important to understand there are inconsistent ESG definitions and criteria within the industry, as well as multiple ESG ratings providers that provide ESG ratings of the same subject companies and/or securities that vary among the providers. This is due to a current lack of consistent global reporting and auditing standards as well as differences in definitions, methodologies, processes, data sources and subjectivity among ESG rating providers when determining a rating. Certain issuers of investments including, but not limited to, separately managed accounts (SMAs), mutual funds and exchange traded-funds (ETFs) may have differing and inconsistent views concerning ESG criteria where the ESG claims made in offering documents or other literature may overstate ESG impact. Further, socially responsible norms vary by region, and an issuer’s ESG practices or Morgan Stanley’s assessment of an issuer’s ESG practices can change over time.


Portfolios that include investment holdings deemed ESG investments or that employ ESG screening criteria as part of an overall strategy may experience performance that is lower or higher than a portfolio not employing such practices. Portfolios with ESG restrictions and strategies as well as ESG investments may not be able to take advantage of the same opportunities or market trends as portfolios where ESG criteria is not applied. There is no assurance that an ESG investing strategy or techniques employed will be successful. Past performance is not a guarantee or a dependable measure of future results. For risks related to a specific fund, please refer to the fund’s prospectus or summary prospectus.


Investment managers can have different approaches to ESG and can offer strategies that differ from the strategies offered by other investment managers with respect to the same theme or topic. Additionally, when evaluating investments, an investment manager is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could cause the manager to incorrectly assess an investment’s ESG characteristics or performance. Such data or information may be obtained through voluntary or third-party reporting. Morgan Stanley does not verify that such information and data is accurate and makes no representation or warranty as to its accuracy, timeliness, or completeness when evaluating an issuer. This can cause Morgan Stanley to incorrectly assess an issuer’s business practices with respect to its ESG practices. As a result, it is difficult to compare ESG investment products.


The appropriateness of a particular ESG investment or strategy will depend on an investor’s individual circumstances and objectives. Principal value and return of an investment will fluctuate with changes in market conditions.


This material may provide the addresses of, or contain hyperlinks to, websites. Except to the extent to which the material refers to website material of Morgan Stanley Wealth Management, the firm has not reviewed the linked site. Equally, except to the extent to which the material refers to website material of Morgan Stanley Wealth Management, the firm takes no responsibility for, and makes no representations or warranties whatsoever as to, the data and information contained therein. Such address or hyperlink (including addresses or hyperlinks to website material of Morgan Stanley Wealth Management) is provided solely for your convenience and information and the content of the linked site does not in any way form part of this document. Accessing such website or following such link through the material or the website of the firm shall be at your own risk and we shall have no liability arising out of, or in connection with, any such referenced website. Morgan Stanley Wealth Management is a business of Morgan Stanley Smith Barney LLC.


© 2026 Morgan Stanley & Co. LLC and Morgan Stanley Smith Barney LLC. Members SIPC. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260426808414/en/
Media Relations Contacts:


Morgan Stanley

Carrie Hall

Carrie.Hall@morganstanley.com


Kellogg School of Management

Haley Robinson

Haley.robinson@kellogg.northwestern.edu


Original: AAA Fund Wins the 2026 Kellogg-Morgan Stanley Sustainable Investing Challenge

Morgan Stanley Investment Management Launches Stablecoin Reserves PortfolioApril 23, 2026 4:15 PM
Business Wire
Morgan Stanley Investment Management (MSIM) today announced the launch of the Stablecoin Reserves Portfolio (MSNXX), part of the Morgan Stanley Institutional Liquidity Funds trust. The Stablecoin Reserves Portfolio is a new government money market fund designed to align with the stablecoin reserves investment requirements of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). The Fund offers payment stablecoin issuers an eligible money market fund option where they can invest their required reserves that back their outstanding payment stablecoins.


“We are pleased to deliver a new investment solution to the marketplace that seeks to address the needs of stablecoin issuers,” said Fred McMullen Co-Head of Global Liquidity, Morgan Stanley Investment Management. “The significant increase in stablecoin issuers as well as the growing number of assets held in stablecoins represents an evolving portion of the marketplace that is ripe for future growth.”


The Stablecoin Reserves Portfolio seeks preservation of capital, daily liquidity and maximum current income, consistent with seeking to maintain a stable $1.00 net asset value (NAV). The Fund invests only in cash, U.S. Treasury bills, notes and bonds with remaining maturities of 93 days or less, as well as certain overnight repurchase agreements collateralized by U.S. Treasury securities and/or cash.


Amy Oldenburg, head of Digital Asset Strategy for Morgan Stanley, stressed the firmwide focus on expanding access to digital investment solutions. “Developing innovative ways to work with stablecoin issuers is another step towards modernizing the financial infrastructure and a key way to improve our institutional clients’ experience,” said Oldenburg. “Creating opportunities for all client segments as markets evolve will make the next phase of finance possible and more broadly accessible.”


The Stablecoin Reserves Portfolio builds on MSIM’s commitment to expanding its digital assets offerings. In April, MSIM debuted its first cryptocurrency ETP, the Morgan Stanley Bitcoin Trust (MSBT), which seeks to track the performance of bitcoin. BNY (NYSE: BK), a global financial services company, provides digital asset custody services for MSBT as well as serving as the administrator and transfer agent, providing account, recordkeeping and cash management services.


Earlier this year, MSIM introduced DAP Class shares of its Morgan Stanley Institutional Liquidity Funds Treasury Securities Portfolio. DAP Class shares are designed to participate in BNY’s Money Market Funds (MMFs) mirrored record tokenization initiative. Currently, DAP Class shares are available via BNY‘s LiquidityDirectSM and Digital Asset platforms, the corresponding value of which will be represented through mirrored record tokenization on a blockchain, while BNY maintains the official books and records for the fund shares.


“We have actively engaged across the industry to develop the ability to offer digital asset related liquidity solutions,” said McMullen. “While still in the early stages, these recent product launches signify our commitment to develop relevant, timely solutions that may address evolving investor needs in an increasingly digital marketplace.”


Morgan Stanley Bitcoin Trust ("MSBT" or the "Trust"), an exchange traded product, is not registered under the Investment Company Act of 1940, as amended (the 40 Act) and therefore is not subject to the same regulations and protections as 1940 Act-registered ETFs and mutual funds. An investment in MSBT is subject to a high degree of risk and heightened volatility. MSBT is not suitable for an investor that cannot afford the loss of the entire investment. An investment in the Trust is not a direct investment in bitcoin.


About Morgan Stanley Investment Management

Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 1,300 investment professionals around the world and $1.9 trillion in assets under management or supervision as of March 31, 2026. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service, and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im.


About Morgan Stanley

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.


Stablecoin Reserves Portfolio Disclosure


Shares of the Stablecoin Reserves Portfolio are primarily expected to be held by stablecoin issuers to help them meet stablecoin reserve asset requirements. Shares of the Stablecoin Reserves Portfolio may also be held by investors who are not stablecoin issuers.


STABLE NAV FUNDS

You could lose money by investing in the Stablecoin Reserves Portfolio. Although the Stablecoin Reserves Portfolio seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Stablecoin Reserves Portfolio is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Stablecoin Reserves Portfolio 's sponsor is not required to reimburse the Stablecoin Reserves Portfolio for losses, and you should not expect that the sponsor will provide financial support to the Stablecoin Reserves Portfolio at any time, including during periods of market stress.


Please consider the investment objectives, risks, charges and expenses of the Stablecoin Reserves Portfolio carefully before investing. The prospectus contains this and other information about the Stablecoin Reserves Portfolio. To obtain a prospectus, download one at the above link or by visiting the Stablecoin Reserves Portfolio Fund page or call 1.800.236.0992. Please read the prospectus carefully before investing.


Morgan Stanley Distribution, Inc. serves as the distributor for the Morgan Stanley Institutional Liquidity Funds, including Stablecoin Reserves Portfolio.


DAP class shares provide a constant net asset value (NAV) instead of rising over time to reflect income earned. DAP class shares distribute income to investors regularly as dividends or distributions.


Morgan Stanley Bitcoin Trust Disclosure


Investing in digital assets involves risk, including possible loss of principal. An investment in Morgan Stanley Bitcoin Trust (“MSBT”) is subject to a high degree of risk and heightened volatility. MSBT is not suitable for any investor that cannot afford loss of the entire investment.


Morgan Stanley Investment Management Inc. is the delegated sponsor of MSBT. Foreside Fund Services, LLC is the Marketing Agent of MSBT.


This information must be preceded or accompanied by a prospectus, click here to view or download prospectus. We advise you to consider MSBT's objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other important information about MSBT. Please read the prospectus carefully before you invest.


Risk Considerations


Digital assets are highly volatile and unpredictable. Their value is influenced but not limited to, by supply and demand, investor confidence and their willingness to purchase it using traditional currencies, inflation, interest rates, currency exchange rates, changing regulations in the U.S. and abroad, and economic trends. Investors also face risks such as price swings, flash crashes, fraud, and cybersecurity threats. Digital assets may be more vulnerable to market manipulation than securities.


Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network.


Cryptocurrency (notably, bitcoin) operates as a decentralized, peer-to-peer financial exchange and value storage that is used like money. It is not backed by any government. Federal, state or foreign governments may restrict the use and exchange of cryptocurrency. Cryptocurrency may experience very high volatility.


NOT FDIC INSURED. OFFER NO BANK GUARANTEE. MAY LOSE VALUE. NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. NOT A DEPOSIT.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260423878842/en/
Media Relations Contact:

Colleen McElhinney

617.672.8995

Colleen.McElhinney@morganstanley.com


Original: Morgan Stanley Investment Management Launches Stablecoin Reserves Portfolio

Morgan Stanley Sustainable Signals: Individual Investors Remain Positive on Sustainable Investing Despite Small Dip in AllocationsApril 23, 2026 9:15 AM
Business Wire

Global interest in sustainable investing rises four points to 92%, yet average 2026 portfolio allocation slightly down from 2025 (31% versus 33%)



For majority of investors, expectations for financial returns drive sustainable investment interest level and decision-making



64% of investors see greater sustainable investing opportunity in private markets compared to publicly traded companies or instruments



Individual investor interest in sustainable investing continues to rise even as allocations slightly decline, according to a new “Sustainable Signals” report by the Morgan Stanley Institute for Sustainable Investing. The survey polled 2,250 active individual investors across North America, Europe and Asia Pacific (APAC) between February and March of this year to assess attitudes toward sustainable investing and where investors see the greatest opportunities and challenges.


Globally, 92% of respondents say they are very or somewhat interested in sustainable investing, up from 88% in 2025. Three quarters already have some portfolio exposure to sustainable investments, 50% of whom first included sustainable options more than five years ago. Still, the average allocation in 2026 is down slightly from 2025 (31% versus 33%), pointing to a potential disconnect between sentiment and behavior.


“Our latest Sustainable Signals survey shows that performance continues to be the top driver of individual investors’ interest in sustainable investing as they look to achieve both market-rate returns and real-world impacts,” said Jessica Alsford, Chief Sustainability Officer and Chair of the Institute for Sustainable Investing at Morgan Stanley. “Looking ahead, a majority of individual investors see greater opportunity for sustainable investments in private markets, especially for portfolio diversification and investing in innovation.”


Notable survey findings include:



Financial returns – For those interested in sustainable investing, 85% say the top reason is either support for real-world outcomes alongside market-rate returns or the expectation that sustainable investments may offer stronger returns than traditional peers. Expectations about returns also drive decision-making. Among the 64% planning to increase their allocation to sustainable investments over the next year, confidence in performance is the most common reason. Conversely, the 5% planning to decrease their allocation cite weaker returns as the primary reason.



Private markets – 64% of respondents see greater opportunity for sustainable investments in private versus public markets, as a way to diversify portfolios, invest in new technologies or business models, and add exposure to high-growth investments. While three-quarters of global respondents either currently invest in private markets or plan to, those with the most portfolio exposure to sustainable investments (>30%) are more likely to invest in private markets today (55%).



Priorities and concerns – Globally, investors cite broad-based sustainability as their top investment theme (25%), followed by economic empowerment, and health and wellness (both 15%). Compared to 2025, more respondents rate barriers to sustainable investing as “very significant” (25% versus 21%), with greenwashing topping the list (32%), followed by lack of transparency in data (30%) and limited knowledge (27%).



Financial advisors – The majority of respondents (79%) indicate that they would select a financial advisor or investment platform based on their sustainable investing offerings – making it a differentiating factor for wealth mangers.



For the first time, Sustainable Signals polled individual investors in the Middle East and North Africa (MENA). While not included in global totals to maintain comparability to the 2025 survey, MENA respondents share similar views to those in other regions. The majority are very or somewhat interested in sustainable investing (over 90%), want to support real-world outcomes alongside market-rate returns (56%), and rank broad-based sustainability and greenwashing as their top priority and concern, respectively.


The Sustainable Signals series was launched in 2015 and measures the views of individual investors, institutional investors and corporates on sustainable investing. View the full results of the latest survey here.


About Morgan Stanley


Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.


About Morgan Stanley Institute for Sustainable Investing


The Morgan Stanley Institute for Sustainable Investing (The Institute), established in 2013, aims to accelerate the growth and adoption of sustainable finance across capital markets. The Institute produces thought leadership and develops partnerships and programs to inform and empower clients, investors and the next generation of sustainability leaders. For more information about the Morgan Stanley Institute for Sustainable Investing, visit www.morganstanley.com/sustainableinvesting.


Disclosures:


This material was published in April 2026 and has been prepared for informational purposes only and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. This material was not prepared by the Morgan Stanley Research Department and is not a Research Report as defined under FINRA regulations. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.


Morgan Stanley Smith Barney LLC and Morgan Stanley & Co. LLC (collectively, “Morgan Stanley”), Members SIPC, recommend that recipients should determine, in consultation with their own investment, legal, tax, regulatory and accounting advisors, the economic risks and merits, as well as the legal, tax, regulatory and accounting characteristics and consequences, of the transaction or strategy referenced in any materials. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives. Morgan Stanley, its affiliates, employees and Morgan Stanley Financial Advisors do not provide tax, accounting or legal advice. Individuals should consult their tax advisor for matters involving taxation and tax planning, and their attorney for matters involving legal matters.


Past performance is not a guarantee or indicative of future performance. Historical data shown represents past performance and does not guarantee comparable future results. Certain statements herein may be “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not historical facts or statements of current conditions, but instead are based on management’s current expectations and are subject to uncertainty and changes in circumstances. These statements are not guarantees of future results or occurrences and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict and are often beyond our control. In addition, this report contains statements based on hypothetical scenarios and assumptions, which may not occur or differ significantly from actual events, and these statements should not necessarily be viewed as being representative of current or actual risk or forecasts of expected risk. Actual results and financial conditions may differ materially from those included in these statements due to a variety of factors. Any forward-looking statements made by or on behalf of Morgan Stanley speak only as to the date they are made, and Morgan Stanley does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made. Because of their narrow focus, sector investments tend to be more volatile than investments that diversify across many sectors and companies.


Certain portfolios may include investment holdings deemed Environmental, Social and Governance (“ESG”) investments. For reference, environmental (“E”) factors can include, but are not limited to, climate change, pollution, waste, and how an issuer protects and/ or conserves natural resources. Social (“S”) factors can include, but not are not limited to, how an issuer manages its relationships with individuals, such as its employees, shareholders, and customers as well as its community. Governance (“G”) factors can include, but are not limited to, how an issuer operates, such as its leadership composition, pay and incentive structures, internal controls, and the rights of equity and debt holders. You should carefully review an investment product’s prospectus or other offering documents, disclosures and/or marketing material to learn more about how it incorporates ESG factors into its investment strategy.


ESG investments may also be referred to as Sustainable investments, impact aware investments, socially responsible investments or diversity, equity, and inclusion (“DEI”) investments. It is important to understand there are inconsistent ESG definitions and criteria within the industry, as well as multiple ESG ratings providers that provide ESG ratings of the same subject companies and/or securities that vary among the providers. This is due to a current lack of consistent global reporting and auditing standards as well as differences in definitions, methodologies, processes, data sources and subjectivity among ESG rating providers when determining a rating. Certain issuers of investments including, but not limited to, separately managed accounts (SMAs), mutual funds and exchange traded-funds (ETFs) may have differing and inconsistent views concerning ESG criteria where the ESG claims made in offering documents or other literature may overstate ESG impact. Further, socially responsible norms vary by region, and an issuer’s ESG practices or Morgan Stanley’s assessment of an issuer’s ESG practices can change over time.


Portfolios that include investment holdings deemed ESG investments or that employ ESG screening criteria as part of an overall strategy may experience performance that is lower or higher than a portfolio not employing such practices. Portfolios with ESG restrictions and strategies as well as ESG investments may not be able to take advantage of the same opportunities or market trends as portfolios where ESG criteria is not applied. There is no assurance that an ESG investing strategy or techniques employed will be successful. Past performance is not a guarantee or a dependable measure of future results. For risks related to a specific fund, please refer to the fund’s prospectus or summary prospectus.


Investment managers can have different approaches to ESG and can offer strategies that differ from the strategies offered by other investment managers with respect to the same theme or topic. Additionally, when evaluating investments, an investment manager is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could cause the manager to incorrectly assess an investment’s ESG characteristics or performance. Such data or information may be obtained through voluntary or third-party reporting. Morgan Stanley does not verify that such information and data is accurate and makes no representation or warranty as to its accuracy, timeliness, or completeness when evaluating an issuer. This can cause Morgan Stanley to incorrectly assess an issuer’s business practices with respect to its ESG practices. As a result, it is difficult to compare ESG investment products.


The appropriateness of a particular ESG investment or strategy will depend on an investor’s individual circumstances and objectives. Principal value and return of an investment will fluctuate with changes in market conditions.


Private Funds (which include hedge funds are private equity funds) often engage in speculative investment techniques and are only appropriate for long-term, qualified investors. Investors could lose all or a substantial amount of their investment. They are generally illiquid, not tax efficient, and have higher fees than many traditional investments.


© 2026 Morgan Stanley & Co. LLC and Morgan Stanley Smith Barney LLC. Members SIPC. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260422004317/en/
Media Relations Contact:

Carrie Hall

Carrie.Hall@morganstanley.com


Original: Morgan Stanley Sustainable Signals: Individual Investors Remain Positive on Sustainable Investing Despite Small Dip in Allocations

Bullishness Remains Steady as Geopolitical and Energy Concerns Rise, Morgan Stanley Wealth Management Pulse Survey FindsApril 22, 2026 8:05 AM
Business Wire
As uncertainty rises, investors keep a close watch on their portfolios


Morgan Stanley Wealth Management today announced the results of its quarterly retail investor pulse survey:

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260421925706/en/

Bullish sentiment holds. More than half of investors (55%) remain bullish this quarter, only slightly below last quarter (56%).



Inflation remains the top concern as new pressures rise. While inflation continues to loom large (50%), concern about geopolitical conflict increased to 20% (up from 12% in Q1) and energy costs rose to 18% (up from 12% in Q1).



Volatility expectations build. About two in three investors (63%) expect volatility to rise, six percentage points higher than last quarter.



Upcoming midterms add to market anxiety. Nearly half (48%) of investors worry midterm elections could affect stock performance.



Amid uncertainty, investors stay engaged. Half (50%) of investors have increased the amount of time they devote to their portfolio this quarter—up from 41% last quarter.



“With geopolitical concerns, policy uncertainty and higher costs, market whiplash is very real, making day-to-day moves feel noisy,” said Chris Larkin, Managing Director and Head of Trading and Investing, E*TRADE from Morgan Stanley. “But rather than pull back, many investors remain engaged—adjusting to volatility and looking for opportunities in a more complex market backdrop. A healthy dose of volatility is a normal part of market dynamics, and commitment to an investing plan is key.”


The survey explored investor views on sector opportunities for the second quarter of 2026:



IT—With AI disruption continuing to move the market, more than half of investors (56%) point to information technology as the sector with the greatest potential this quarter.



Energy–Amid spiking oil prices, investor interest in energy is unchanged this quarter, holding steady at 49%.



Health care–As market risks shift, interest in health care—known for its relative stability during uncertainty—ticked up 2 percentage points to 35%.



About the Survey

This wave of the survey was conducted from April 1 to April 20 of 2026 among an online US sample of 940 self-directed investors, investors who fully delegate investment account management to financial professionals, and investors who utilize both. The survey has a margin of error of ±3.20 percent at the 95 percent confidence level. It was fielded and administered by Dynata. The panel is broken into three investable assets: less than $500k, between $500k to $1 million, and over $1 million. The panel is 60% male and 40% female and self-select as having moderate+ investing experience, with an even distribution across geographic regions, and age bands.


About Morgan Stanley Wealth Management

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, cash management and lending products and services, annuities and insurance, retirement and trust services.


About Morgan Stanley

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.


This has been prepared for informational purposes only and is not a solicitation of any offer to buy or sell any security or other financial instrument, or to participate in any trading strategy. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Morgan Stanley recommends that investors independently evaluate particular investments and strategies and encourages investors to seek the advice of a Financial Advisor.


Morgan Stanley Portfolio Solutions are portfolios available in our Select UMA platform under either Firm Discretionary UMA or Managed Advisory Portfolio Solutions. Please see the Select UMA ADV at www.morganstanley.com/ADV


Past performance is not a guarantee or indicative of future performance. Historical data shown represents past performance and does not guarantee comparable future results.


This material contains forward-looking statements and there can be no guarantee that they will come to pass.


Diversification and asset allocation do not guarantee a profit or protect against loss in a declining financial market.


This material should not be viewed as investment advice or recommendations with respect to asset allocation or any particular investment.


Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.


Morgan Stanley Smith Barney LLC and Dynata are not affiliates.

© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.




Referenced Data








When it comes to the current market are you?








 






Q1’26






Q2’26








Bullish






56%






55%








Bearish






44%






45%









Which of the following are you most concerned about when it comes to your finances? (Top 2)








 






Q1’26






Q2’26








Inflation






47%






50%








Market volatility






20%






22%








Geopolitical conflict






12%






20%








Tariffs






27%






18%








Energy costs






12%






18%








Current administration






21%






17%








A recession






18%






13%








Earnings






8%






10%








Fed monetary policy






8%






8%








Jobs market






8%






6%








None






4%






2%









Over the next quarter, do you think volatility will...








 






Q1’26






Q2’26








Top 2 Box






57%






63%








Greatly increase






12%






15%








Somewhat increase






45%






48%








Stay the same






35%






25%








Somewhat decrease






8%






11%








Greatly decrease






0%






1%









How concerned are you about the midterm elections on the stock market?








 






Q2’26








Top 2 Box






48%








Extremely concerned






21%








Very concerned






27%








Moderately concerned






29%








Slightly concerned






15%








Not concerned at all






8%









The time I devote to my portfolio has ________ within the last three months.








 






Q1’26






Q2’26








Top 2 Box






41%






50%








Greatly increased






10%






17%








Somewhat increased






31%






33%








Stayed the same






55%






46%








Somewhat decreased






3%






3%








Greatly decreased






1%






1%









What industries do you think offer the most potential this quarter?








 






Q1’26






Q2’26








Information technology






60%






56%








Energy






49%






49%








Health care






33%






35%








Financials






28%






28%








Real estate






26%






28%








Utilities






28%






26%








Industrials






20%






21%








Communication services






19%






18%








Consumer staples






17%






16%








Materials






14%






15%








Consumer discretionary






9%






9%







 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260421925706/en/
Media Relations: Lynn Cocchiola lynn.cocchiola@morganstanley.com


Original: Bullishness Remains Steady as Geopolitical and Energy Concerns Rise, Morgan Stanley Wealth Management Pulse Survey Finds

194.59 MS 🚀

When 200 😄

Morgan Stanley Shares Rise as Q1 Profit Tops Estimates on Strong Banking and TradingApril 15, 2026 10:26 AM
IH Market News
Morgan Stanley (NYSE:MS) reported first-quarter results that came in ahead of Wall Street expectations, supported by elevated trading activity and solid client engagement during a period of heightened market volatility.Earnings per share reached $3.43, exceeding the consensus forecast of $3.02. Revenue climbed to $20.6 billion, beating estimates of $19.7 billion and rising 16% from $17.7 billion a year earlier. Net income attributable to the firm increased to $5.6 billion, compared with $4.3 billion in the same period last year.Shares gained 2.1% in premarket trading following the release.“Morgan Stanley reported a record quarter,” said Ted Pick, Chairman and Chief Executive Officer. “Strong execution resulted in net revenues of $20.6 billion, EPS of $3.43 and a ROTCE of 27.1%. Institutional Securities benefited from robust client engagement and strength globally.”The Institutional Securities division posted record net revenue of $10.7 billion, up from $9.0 billion a year ago. Equity trading revenue rose 25% to $5.1 billion, while fixed income revenue increased 29% to $3.4 billion, driven by strong client demand and volatility in energy markets. Investment banking revenue jumped 36% to $2.1 billion, supported by a higher volume of completed M&A deals.Wealth Management also delivered record results, with net revenue rising 16% to $8.5 billion and a pre-tax margin of 30.4%. The division generated $118 billion in net new assets and $54 billion in fee-based inflows during the quarter.Investment Management reported net revenue of $1.5 billion, alongside $3.3 billion in long-term net inflows. The firm’s return on tangible common equity improved to 27.1%, up from 23.0% a year earlier.Morgan Stanley stock price

Original: Morgan Stanley Shares Rise as Q1 Profit Tops Estimates on Strong Banking and Trading

Morgan Stanley Reports First Quarter 2026 Earnings ResultsApril 15, 2026 7:29 AM
Business Wire
Morgan Stanley (NYSE: MS) today announced its first quarter 2026 financial results. The results are now available on the Firm’s Investor Relations website at www.morganstanley.com/about-us-ir/earnings-releases. The results will be filed on a Form 8-K with the Securities and Exchange Commission (SEC) on April 15, 2026, which will be available on the SEC’s website at www.sec.gov.


A conference call to discuss the results will be held today at 9:30 a.m. (ET). The call will be available at www.morganstanley.com or by dialing 1-844-886-2200 (domestic) and 1-646-307-1096 (international); the passcode is 400700. Playback will be available via webcast on our website.


Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260415064888/en/
Media Relations: Wesley McDade, 212.761.2430

Investor Relations: Leslie Bazos, 212.761.5352


Original: Morgan Stanley Reports First Quarter 2026 Earnings Results

Futures Steady as Iran Talks Hopes and Earnings Season Shape Market Mood: Dow Jones, S&P, Nasdaq, Wall StreetApril 15, 2026 5:33 AM
IH Market News
Futures tied to major U.S. indices were little changed, as investors monitored the prospect of renewed peace discussions between the United States and Iran. Hopes of easing tensions have helped keep oil prices below the $100-per-barrel level, even as Washington maintains a blockade on Iranian ports. At the same time, the earnings season continues to gather pace, with major U.S. banks pointing to a resilient economy despite geopolitical pressures.



Futures hold steady



U.S. equity futures were broadly flat on Wednesday, with markets balancing geopolitical developments against a heavy flow of corporate results.By 03:28 ET, futures on the Dow Jones, S&P 500, and Nasdaq 100 were all trading close to unchanged.Despite volatility linked to the Iran conflict and disruptions around the Strait of Hormuz—a key global shipping route—U.S. equities have remained on an upward trajectory. The S&P 500 ended Tuesday near record highs, while the Nasdaq Composite has surged roughly 14% over the past 10 sessions, marking its longest winning streak since 2021.The early stages of the quarterly earnings season have also supported sentiment. Major U.S. lenders have highlighted continued strength in consumer spending and borrowing, suggesting the economy remains robust despite risks tied to potential energy shocks.“It’s still way too early in the [calendar year first quarter] earnings season to draw any firm conclusions, but so far, we’ve been impressed by the resiliency of Corporate America,” analysts at Vital Knowledge said in a note.



Trump points to renewed Iran talks



U.S. President Donald Trump indicated that negotiations between Washington and Tehran could resume within the next two days, following initial discussions held in Pakistan last weekend.Vice President JD Vance, who led the U.S. delegation in Islamabad, also expressed optimism regarding the progress of talks.However, the U.S. continues to enforce a blockade on Iranian ports, with officials stating that maritime trade to and from the country has effectively been halted. The restrictions were introduced earlier this week after talks in Pakistan failed to deliver an immediate ceasefire, though expectations for a rapid agreement had already been limited.While the blockade has heightened concerns about oil supply disruptions in the Persian Gulf, recent reports suggest some improvement. According to the Wall Street Journal, more than 20 commercial vessels have recently passed through the Strait of Hormuz, indicating partial easing in transit conditions.



Oil prices remain below $100



With hopes of a potential de-escalation, crude prices stayed below the $100 threshold.At 03:16 ET, Brent crude futures were up 0.3% at $95.10 per barrel, while U.S. West Texas Intermediate crude edged down 0.2% to $91.12.The softer oil environment has contributed to a slight weakening in the U.S. dollar, which had previously strengthened as a safe-haven asset during the conflict. A dollar index tracking the currency against a basket of peers is now only marginally above levels seen before the war began in late February.Even so, oil prices remain elevated compared with pre-conflict levels, reflecting ongoing supply concerns linked to disruptions at the Strait of Hormuz, through which roughly 20% of global oil flows.Additional supply risks may emerge after the U.S. opted not to extend a 30-day waiver on sanctions covering Iranian oil shipments at sea, due to expire this week. Reuters also reported that a similar waiver for Russian oil was not renewed after expiring last weekend.



Focus shifts to bank earnings



Attention is now turning to further results from major U.S. lenders, including Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS), both scheduled to report later in the day.Market volatility—driven by geopolitical tensions and rapid developments in artificial intelligence—has supported trading revenues at large banks. Institutions such as JPMorgan Chase (NYSE:JPM) tend to benefit from heightened market activity, as clients adjust portfolios and increase hedging.JPMorgan reported a 20% increase in markets revenue for the three months ending March 31, reflecting similar trends seen at competitors like Goldman Sachs (NYSE:GS).Despite market turbulence, banking executives have also pointed to a strong dealmaking environment, with expectations that 2026 could see a wave of major transactions, particularly involving AI and space-related companies.



European earnings in focus



In Europe, corporate earnings have also influenced market sentiment.Hermès (EU:RMS) reported slower quarterly sales growth due to demand pressures linked to the Middle East conflict. Meanwhile, Kering (EU:KER) also posted weaker sales, although it noted some improvement in demand trends. Combined with recent results from Dior-owner LVMH, these updates suggest the luxury sector may be facing increasing headwinds.Shares of both Hermès and Kering declined sharply on Wednesday.On a more positive note, ASML (EU:ASML) provided support to European markets. The company raised its full-year sales outlook, benefiting from strong demand driven by the AI boom. Major chipmakers such as TSMC and Intel continue to invest heavily in ASML’s technology as they expand their AI capabilities.ASML shares rose by more than 1%.Bank of America stock priceMorgan Stanley stock priceJPMorgan Chase stock priceGoldman Sachs Group stock price

Original: Futures Steady as Iran Talks Hopes and Earnings Season Shape Market Mood: Dow Jones, S&P, Nasdaq, Wall Street

Markets Rise on Iran Peace Hopes; Bank Earnings in Focus: Dow Jones, S&P, Nasdaq, Wall Street FuturesApril 14, 2026 4:59 AM
IH Market News
U.S. equity futures edged higher on Tuesday, while oil prices declined, as investors reacted to signs of potential progress in efforts to end the Iran conflict. However, a continued U.S. blockade of Iranian ports into a second day has added tension, further disrupting shipments through the Strait of Hormuz. Meanwhile, a wave of major U.S. bank earnings is set to dominate market attention, and luxury group LVMH (EU:MC) highlighted the conflict’s impact on sales.



Futures Tick Higher



U.S. stock futures moved modestly upward, supported by optimism around ongoing negotiations between Washington and Tehran aimed at securing a lasting ceasefire. Investors are also preparing for a busy earnings schedule from major financial institutions.As of 03:17 ET, Dow futures rose by 51 points, or 0.1%, S&P 500 futures gained 10 points, or 0.1%, and Nasdaq 100 futures climbed 72 points, or 0.3%.Wall Street’s main indices had already posted gains in the previous session, as initial disappointment over the lack of a breakthrough in weekend talks between the U.S. and Iran faded. U.S. President Donald Trump said the White House had been contacted by Iranian officials and expressed a desire to “make a deal,” adding that Iran will not have a nuclear weapon.“[W]hile the meeting was certainly disappointing, it was hardly catastrophic, and if one looks closely, Trump seems to be pivoting aggressively away from kinetic escalation,” analysts at Vital Knowledge said.They added that their view of the situation is “relatively sanguine,” though the “economic fallout from what’s already occurred” could be “significant.”



U.S. Blockade Continues to Disrupt Shipping



At the same time, the U.S. blockade of Iranian ports, which began Monday, has tightened constraints on oil flows already impacted by the conflict.Tehran has condemned the move as an “act of piracy,” with reports suggesting around 15 U.S. warships are involved. British maritime authorities said access has been restricted for vessels operating near Iranian ports and across key waterways in the Persian Gulf, Gulf of Oman, and parts of the Arabian Sea.Despite these tensions, diplomatic efforts appear to be gaining traction. According to Reuters, talks between the U.S. and Iran have continued, with some progress toward a permanent ceasefire. Pakistan has offered to host further negotiations following the initial round held in Islamabad.Elsewhere, Israel and Lebanon are set to begin direct peace talks in Washington, with ongoing strikes involving Iran-aligned Hezbollah forces remaining a key obstacle.



Oil Prices Ease Below $100



The prospect of diplomatic progress helped push oil prices lower, with Brent crude falling 1.5% to $97.88 per barrel and U.S. West Texas Intermediate declining 3.4% to $95.78.However, the outlook remains uncertain. The OPEC reduced its forecast for global oil demand in the second quarter by 500,000 barrels per day in its first assessment of the Iran conflict’s impact.Even so, the group left its full-year outlook unchanged, indicating expectations that demand could recover later in 2026.



Bank Earnings Take Centre Stage



Attention is now shifting to corporate earnings, with several major U.S. banks set to report results.JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC), and Citigroup (NYSE:C) are due to release quarterly figures before the U.S. market opens, followed by Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS) on Wednesday.Analysts expect trading revenues and investment banking fees to support results, even as uncertainty tied to the Iran conflict persists. Earlier this month, Jamie Dimon warned that the conflict could trigger commodity price shocks, potentially sustaining inflation and pushing interest rates higher than currently anticipated.On Monday, Goldman Sachs (NYSE:GS) reported a 19% increase in first-quarter profit, driven by strong performance in trading and investment banking.



LVMH Highlights Impact of Iran Conflict



In Europe, shares of LVMH (EU:MC) fell in early trading after the company said the Middle East conflict had reduced group sales by at least 1%, dampening expectations for a continued recovery in the luxury sector.The group, which owns brands such as Louis Vuitton and Bulgari, reported a 1% increase in quarterly sales, missing estimates for 1.5% growth, according to Visible Alpha data cited by Reuters.Finance chief Cécile Cabanis said that “[w]hat we see today is still that demand is very much down” following disruptions to shopping activity in the Middle East after the outbreak of the Iran conflict.Rival Kering (EU:KER), owner of Gucci, is scheduled to report results after the close of European markets later in the day.JPMorgan Chase stock priceWells Fargo stock priceCitigroup stock priceBank of America stock priceMorgan Stanley stock priceGoldman Sachs Group stock price

Original: Markets Rise on Iran Peace Hopes; Bank Earnings in Focus: Dow Jones, S&P, Nasdaq, Wall Street Futures

Five key themes for markets in the week aheadApril 13, 2026 6:45 AM
IH Market News
Geopolitics is taking centre stage at the start of the trading week, with a planned U.S. blockade of the Strait of Hormuz driving fresh volatility across markets. The move has pushed oil prices higher again, while upcoming inflation data and a busy earnings calendar could provide further direction for investors.



1. U.S. moves ahead with Hormuz blockade



The U.S. military has confirmed it will begin restricting maritime traffic linked to Iran through the Strait of Hormuz from 10 a.m. Eastern on Monday, following an order from President Donald Trump after weekend talks with Iran failed to yield progress.According to the Pentagon, vessels “entering or departing Iranian ports and coastal areas” will be targeted, while other ships transiting the strait will still be permitted to pass.The decision follows 21 hours of negotiations in Pakistan that ended without an agreement to extend a fragile two-week ceasefire. Vice President JD Vance, who led the U.S. delegation, said Iran rejected demands to halt its nuclear ambitions. Pakistan, acting as a mediator, urged both sides to “uphold their commitment to ceasefire.”Elsewhere, Israel and Lebanon are set to hold talks in Washington this week, although continued strikes on Hezbollah-linked targets have raised doubts about the durability of any broader regional truce.



2. Oil climbs back above $100



Crude prices surged again on Monday, breaking back above the $100 per barrel level.Brent crude rose 6.7% to $101.65, while U.S. West Texas Intermediate gained 7.1% to $103.42.Despite the rally, analysts at Pepperstone said the market response had been “relatively contained,” with investors interpreting the blockade largely as a negotiating tactic.“I’d not be at all surprised to see risk assets remain underpinned to a degree, with continued hope that a deal can be agreed likely to continue to encourage dip buying, even as crude benchmarks are likely to grind steadily higher as physical supply tightens further,” said Michael Brown, Senior Research Strategist at Pepperstone.Oil had dipped below $100 last week following the ceasefire announcement, which itself came after Trump warned Iran’s “civilization” could be destroyed if the Strait of Hormuz was not reopened. Even so, prices have remained well above pre-conflict levels.



3. U.S. producer price data in focus



Rising energy costs have heightened concerns about inflation globally and how central banks may respond.This week, attention will turn to U.S. producer price index (PPI) data for final demand, which will provide a clearer picture of price pressures in March—the first full month reflecting the impact of the Iran conflict.Recent consumer price data already showed a sharp increase, driven largely by higher fuel costs. Energy prices jumped 12.5% year-on-year, compared with just 0.5% in February.However, core inflation—which excludes food and energy—came in softer than expected, at 2.6% annually and 0.2% month-on-month.Given this, analysts believe the Federal Reserve may not place excessive weight on the headline figures alone. The upcoming PPI release could offer further clues on how policymakers approach interest rates in the months ahead.“A stronger-than-expected [PPI] reading would reinforce the case for a ‘higher for longer’ rate outlook, likely supporting the dollar and leaving EUR/USD’s recent rebound vulnerable to renewed downside,” said Laurence Booth, Global Head of Markets at CMC Markets.



4. Bank earnings take centre stage



The U.S. earnings season gathers pace this week, led by results from major Wall Street lenders.Goldman Sachs (NYSE:GS) is set to report first, with its shares up around 3% so far this year. Trading revenues have been supported by portfolio repositioning linked to developments in artificial intelligence, while its investment banking division has also delivered growth.However, the Iran conflict may weigh on outlooks. While volatility can boost trading income, elevated commodity prices could discourage dealmaking activity such as mergers and acquisitions, potentially affecting advisory revenues.Other banks reporting include JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC), Citigroup (NYSE:C), Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS).Beyond banking, earnings are also expected from Netflix and PepsiCo.



5. European luxury sector results ahead



In Europe, attention will turn to the luxury sector, where several major groups are due to report.LVMH (EU:MC), owner of brands such as Louis Vuitton and Dior, is scheduled to release first-quarter sales, with geopolitical tensions likely to influence its outlook. Peers Kering SA (EU:KER) and Hermès (EU:RMS) are also set to report.According to Reuters, luxury sales in markets such as Dubai and Abu Dhabi have declined due to the conflict, weighing on the $400 billion sector.Elsewhere, ASML (NASDAQ:ASML) will report on Wednesday, with investors watching closely for updates on its ability to meet strong demand from artificial intelligence chipmakers.Goldman Sachs Group stock priceJPMorgan Chase stock priceWells Fargo stock priceCitigroup stock priceBank of America stock priceMorgan Stanley stock price

Original: Five key themes for markets in the week ahead

Markets edge lower as Hormuz blockade fears grow; Goldman Sachs earnings in focus: Dow Jones, S&P, Nasdaq, Wall Street FuturesApril 13, 2026 5:50 AM
IH Market News
Futures tied to major U.S. equity indices pointed slightly lower at the start of the week, as concerns over a potential U.S. naval blockade of the Strait of Hormuz and stalled negotiations between Washington and Tehran weighed on investor sentiment. Oil prices moved back above $100 per barrel, with markets increasingly uneasy about the durability of a fragile U.S.-Iran ceasefire. Meanwhile, earnings from Goldman Sachs (NYSE:GS) are set to kick off the U.S. reporting season, while LVMH (EU:MC) is also due to release results.



Futures drift lower



U.S. stock futures declined on Monday as investors reacted to renewed geopolitical risks following President Donald Trump’s warning that a blockade could be imposed on the Strait of Hormuz after weekend talks with Iran failed to produce a breakthrough.As of 03:28 ET, Dow futures were down 239 points, or 0.5%, S&P 500 futures fell 40 points, or 0.6%, and Nasdaq 100 futures dropped 168 points, or 0.7%. Markets in Europe and Asia also showed signs of weakness, while oil prices surged and the U.S. dollar strengthened.Wall Street had closed mixed on Friday, with investors taking a cautious stance ahead of high-stakes negotiations in Pakistan. Although a temporary two-week ceasefire was announced last week, uncertainty remains over whether it will lead to a lasting resolution.Investors also digested data showing a sharp increase in consumer prices in March, largely driven by rising fuel costs linked to the energy shock triggered by the conflict. Oil prices have climbed significantly since late February, when tensions with Iran escalated and tanker traffic through the Strait of Hormuz—through which roughly 20% of global oil flows—was effectively disrupted.



Trump signals Hormuz blockade



On Sunday, Trump said the U.S. Navy would launch an “immediate” blockade of the Strait to restrict shipping activity.He warned that any vessel paying fees imposed by Tehran would not be guaranteed “safe passage on the high seas.”Later, the Pentagon clarified that the restrictions would target ships “entering or departing Iranian ports or coastal areas,” while allowing other vessels to continue transiting the Strait.The escalation follows 21 hours of negotiations between U.S. and Iranian officials in Pakistan, which ended without an agreement to extend the ceasefire. Vice President JD Vance, who led the U.S. delegation, said Iran had rejected demands to halt its nuclear ambitions. Tehran has not immediately commented, though Pakistan—acting as mediator—urged both sides to “uphold their commitment to ceasefire.”



Oil climbs back above $100



Crude prices surged again on Monday, reclaiming the $100 per barrel level.Brent crude rose 6.7% to $101.65, while U.S. West Texas Intermediate gained 7.1% to $103.42.Despite the sharp move, analysts at Pepperstone said the market reaction had been “relatively contained,” suggesting that traders may see the blockade as a negotiating tactic.“While it’s clearly a risk-averse start to the trading week, […] the general market reaction can be summed up as ‘could be worse’,” said Michael Brown, Senior Research Strategist at Pepperstone.Oil had briefly dipped below $100 last week after the ceasefire announcement, which followed Trump’s warning that Iran’s “civilization” could be destroyed if the Strait was not reopened. Even so, prices remained elevated compared with pre-conflict levels.



Goldman Sachs results ahead



Attention now turns to earnings from major U.S. banks, beginning with Goldman Sachs’ quarterly results before the market open.Shares of Goldman have risen about 3% so far this year, supported by strong trading activity as investors reposition portfolios amid disruption from emerging artificial intelligence technologies. Investment banking revenues have also shown resilience.However, developments in Iran may overshadow the results. While volatility can boost trading income, sustained high commodity prices could deter companies from pursuing costly deals such as mergers and acquisitions, potentially weighing on advisory revenues.Other major banks set to report this week include JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC), Citigroup (NYSE:C), Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS).



LVMH set to report



LVMH (EU:MC), the world’s largest luxury goods company and owner of brands such as Louis Vuitton and Dior, is due to publish its first-quarter sales later today, with the Middle East conflict expected to feature prominently in its outlook.According to Reuters, luxury sales in key regional hubs like Dubai and Abu Dhabi have declined due to the ongoing conflict, impacting companies including LVMH as well as peers like Kering SA (EU:KER) and Hermès (EU:RMS).At Dubai’s Mall of the Emirates, luxury sales reportedly dropped by as much as 50% in March, while foot traffic at Dubai Mall saw a similar decline. In Abu Dhabi’s Galleria mall, overall sales were down by around 10%.Although the Middle East represents a relatively small portion of LVMH’s total revenue, analysts cited by Reuters suggest that the impact on profitability—reported on a half-year basis—could be more significant.Goldman Sachs Group stock priceJPMorgan Chase stock priceWells Fargo stock priceCitigroup stock priceBank of America stock priceMorgan Stanley stock price

Original: Markets edge lower as Hormuz blockade fears grow; Goldman Sachs earnings in focus: Dow Jones, S&P, Nasdaq, Wall Street Futures

Morgan Stanley Investment Management Enters Digital Investments Universe With Launch of Morgan Stanley Bitcoin TrustApril 8, 2026 8:25 AM
Business Wire
Morgan Stanley Investment Management (MSIM) announced today the launch of Morgan Stanley Bitcoin Trust (NYSE Arca: MSBT), an exchange-traded product (ETP) that seeks to track the performance of bitcoin.


MSIM is the first U.S. bank-affiliated asset manager to offer a cryptocurrency ETP, and reflects a continued, firmwide focus by Morgan Stanley to develop digital asset solutions designed to meet evolving client demand.


“We are proud to introduce MSBT to the marketplace and believe this new ETP aligns with long-term trends in financial innovation and serves to strengthen the range of investments we provide investors,” said Ben Huneke, Head of Morgan Stanley Investment Management. “MSBT is an example of how leveraging Morgan Stanley’s collective strength and deep expertise across asset classes and market segments can add value for existing clients, unlock new investor opportunities and continue to pursue compelling and innovative investment ideas that solve investor challenges.”


“ETPs remain a powerful way for investors to gain exposure to new asset classes within a transparent and regulated framework,” said Ally Wallace, Global Head of ETF Strategy at Morgan Stanley Investment Management. “With MSBT, we’re extending our product offering to meet growing client interest in digital assets. This builds on our track record of launching compelling investment strategies in the ETF wrapper to help investors meet their investment objectives.”


The addition of MSBT expands MSIM’s exchange-traded capabilities and reinforces the ongoing efforts to provide broader access to a wide range of investment offerings across traditional and emerging asset classes. The MSBT launch builds on Morgan Stanley’s recent investments across the digital asset ecosystem, including the appointment of dedicated leadership to guide firmwide digital asset strategies and ongoing efforts to expand institutional-grade capabilities across custody, trading and product development.


“Digital assets are increasingly intersecting with traditional markets, and our focus is on helping clients access that evolution through structures they understand and trust,” said Amy Oldenburg, Head of Digital Asset Strategy at Morgan Stanley. “MSBT reflects our firmwide approach to thoughtfully building digital asset capabilities grounded in traditional governance and market infrastructure that seeks to meet long-term client needs. We believe that our ability to simplify how investors access their complete portfolio across asset classes and investment types will resonate with our clients and investors across the globe.”


MSBT seeks to track the performance of bitcoin, as measured by the performance of the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate (the “Pricing Benchmark”), which is calculated based on an aggregation of executed trade flow of major bitcoin spot exchanges. MSBT’s unitary delegated sponsor fee is 0.14%, which is currently the lowest bitcoin ETP sponsor fee as of this release.


Coinbase and BNY have been selected to provide digital asset custody services for MSBT. BNY also serves as the administrator and transfer agent and will provide accounting, recordkeeping and cash management services.


Launched in early 2023, MSIM's suite of ETFs recently surpassed $12 billion in assets under management and comprises 19 products including five Calvert-branded ETFs, three Parametric-branded ETFs and 11 Eaton Vance-branded fixed income ETFs.


About Morgan Stanley Investment Management


Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 1,400 investment professionals around the world and $1.9 trillion in assets under management or supervision as of December 31, 2025. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service, and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im.


About Morgan Stanley


Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.


IMPORTANT NOTICE


A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (“SEC”). Before you invest, you should read the prospectus in that registration statement and other documents MSBT has filed with the SEC for more complete information about MSBT and the offering. You may get these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, the Fund or any authorized participant will arrange to send you the prospectus (when available) if you request it by calling (833) 903-2211 or by contacting Foreside Fund Services, LLC, Three Canal Plaza, Suite 100, Portland, Maine 04101. This press release 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 or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.


An investment in MSBT involves a high degree of risk, including the volatility of bitcoin, potential deviations between the market price of the MSBT’s shares and MSBT’s net asset value, regulatory uncertainty, custody and operational risks, and the possibility of a total loss of investment. MSBT is not registered under the Investment Company Act of 1940, as amended. Neither the SEC nor any other regulatory authority has approved or disapproved of MSBT’s shares. Any representation to the contrary is a criminal offense. Investors should carefully review MSBT’s prospectus, including the “Risk Factors” section, before investing.


Morgan Stanley Bitcoin Trust ETF Disclosure


Investing in digital assets involves risk, including possible loss of principal. An investment in Morgan Stanley Bitcoin Trust ETF (“MSBT” or the “Fund”) is subject to a high degree of risk and heightened volatility. MSBT is not suitable for any investor that cannot afford loss of the entire investment.


The Fund has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Fund has filed with the SEC for more complete information about the Fund and this offering. To obtain a current prospectus, visit EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Fund or any authorized participant will arrange to send you the prospectus (when available) if you request it by calling (833) 903-2211 or by contacting Foreside Fund Services, LLC, Three Canal Plaza, Suite 100, Portland, Maine 04101.


Foreside Fund Services, LLC is the Marketing Agent for MSBT.


This information must be preceded or accompanied by a prospectus, click here to view or download prospectus. We advise you to consider the fund's objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other important information about the fund. Please read the prospectus carefully before you invest.


The Fund is not registered under the Investment Company Act, 1940 (the “40 Act”) and is not subject to regulation under the 40 Act, unlike most mutual funds or ETFs. The Fund may trade at a premium or discount to its net asset value. The Fund is new and has a limited operating history upon which investors may base an evaluation of its likely performance.


The value of the Fund relates directly to the value of the underlying digital asset it holds, the value of which is highly volatile and subject to fluctuations due to a number of factors.


The Fund relies on third party service providers to perform certain functions essential to the affairs of the Trust. Some of these service providers may not be subject to federal regulation and oversight and the replacement of such service providers could pose a challenge to the safekeeping of the digital asset and to the operations of the Fund.


No guarantee or representation is made that the Fund’s investment strategy, including, without limitation, its investment objectives or strategies, will be successful, and investment results may vary substantially over time. Nothing herein is intended to imply that the Fund’s investment methodology or that investing may be considered “conservative,” “safe,” “risk free,” or “risk averse.”


This material is not an offer or solicitation of any kind to buy or sell any securities outside of the United States of America. Nothing in this content should be considered a solicitation to buy or an offer to sell shares of any investment in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction, nor is it intended as investment, tax, financial, or legal advice. Investors should seek such professional advice for their particular situation and jurisdiction.


Digital Asset Risk Disclosures


Many digital assets, including Bitcoin, have experienced significant volatility in trading prices in recent periods and may continue to experience such volatility in the future. Such volatility in digital asset prices could have a material adverse effect on the value of the Fund and the shares could lose all or substantially all of their value.


Digital assets represent a new and rapidly evolving industry. The value of the Fund depends, among other things, on the acceptance of the digital assets in general and Bitcoin in particular, the capabilities and development of blockchain technologies and the fundamental investment characteristics of Bitcoin.


Digital asset networks are developed and maintained by a diverse set of contributors and the perception that certain contributors will no longer contribute to the network or may decrease their contributions to, or involvement with the network could have an adverse effect on the market price of the related digital asset.


Digital assets may have concentrated ownership and large sales or distributions by holders of such digital assets could have an adverse effect on the market price of such digital assets.


The Fund holds Bitcoin; however, an investment in the Fund is not a direct investment in Bitcoin. As a non-diversified and single industry fund, the value of the shares may fluctuate more than shares invested in a broader range of industries. Because the value of the Fund is correlated with the value of Bitcoin, it is important to understand the investment attributes of, and the market for, the underlying digital asset (Bitcoin). Please consult with your financial professional.


A substantial direct investment in digital assets may require expensive and sometimes complicated arrangements in connection with the acquisition, security and safekeeping of the digital asset and may involve the payment of substantial fees to third party service providers through cash payments of U.S. dollars.


Regulation of digital assets, including Bitcoin, continues to evolve across different jurisdictions worldwide, which may cause uncertainty and insecurity as to the legal and tax status of a given digital asset. As Bitcoin and digital assets have grown in both popularity and market size, the U.S. Congress and a number of U.S. federal and state agencies have been examining the operations of digital asset networks, digital asset users and the digital asset spot market. Many of these state and federal agencies have brought enforcement actions and issued advisories and rules relating to digital asset markets. Ongoing and future regulatory actions with respect to digital assets generally or any single digital asset in particular may alter, perhaps to a materially adverse extent, the nature of an investment in the Fund.


The Delegated Sponsor does not store, hold, or maintain custody or control of the Fund’s digital assets but instead has entered into Custodial Services Agreements with a third parties to facilitate the security of its Bitcoin. The Custodians control and secure the Fund’s Bitcoin, in segregated custody accounts to store private keys, which allows for the transfer of ownership or control of the Fund’s Bitcoin, on the Fund’s behalf. If a Custodian resigns or is removed by the Delegated Sponsor or otherwise, without replacement, it could trigger early termination of the Fund.


The net assets of the Fund and its shares are valued on a daily basis with reference to CoinDesk Bitcoin Benchmark Rate, a standardized reference rate published by COINDESK®. COINDESK® and the Fund's applicable reference rate (the "Index") are trade or service marks of CoinDesk Indices, Inc. (with its affiliates, including CC Data Limited, “CDI”), and/or its licensors. CDI or CDI's licensors own all proprietary rights in the Index. CDI is not affiliated with Morgan Stanley Investment Management Inc. and does not approve, endorse, review, or recommend the Fund. CDI does not guarantee the timeliness, accurateness, or completeness of any data or information relating to any Index and shall not be liable in any way to Morgan Stanley Investment Management Inc., investors in or holders of any of the Fund or other third parties in respect of the use or accuracy of any Index or any data included therein.


Before making an investment decision, you should carefully consider the risk factors and other information included in the prospectus.


Investors should be aware that investing in MSBT is not equivalent to investing directly in bitcoin.


Forward-Looking Statements


Certain statements contained herein and in any related materials may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can generally be identified by the use of words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "project," "seek," "should," "target," "will," "would," or similar expressions, or the negative of such terms. These statements are based on current expectations, estimates, assumptions, and projections and are subject to significant risks, uncertainties, and other factors that may cause actual results, performance, or developments to differ materially from those expressed or implied by such statements. Forward-looking statements speak only as of the date on which they are made. The Fund undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by applicable law.


Risk Considerations


Digital assets are highly volatile and unpredictable. Their value is influenced but not limited to, by supply and demand, investor confidence and their willingness to purchase it using traditional currencies, inflation, interest rates, currency exchange rates, changing regulations in the U.S. and abroad, and economic trends. Investors also face risks such as price swings, flash crashes, fraud, and cybersecurity threats. Digital assets may be more vulnerable to market manipulation than securities.


Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network.


Cryptocurrency (notably, Bitcoin) operates as a decentralized, peer-to-peer financial exchange and value storage that is used like money. It is not backed by any government. Federal, state or foreign governments may restrict the use and exchange of cryptocurrency. Cryptocurrency may experience very high volatility.


NOT FDIC INSURED. OFFER NO BANK GUARANTEE. MAY LOSE VALUE. NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. NOT A DEPOSIT.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260408154536/en/
Media Relations Contacts:

Colleen McElhinney

617.672.8995

Colleen.McElhinney@morganstanley.com


Devon Burgess

212.762.0811

Devon.Burgess@morganstanley.com


Original: Morgan Stanley Investment Management Enters Digital Investments Universe With Launch of Morgan Stanley Bitcoin Trust

Morgan Stanley Says ‘Get Your Shopping List Ready,’ Predicts S&P 500 Falling to 6,300 – Here’s the Timeline

A top Morgan Stanley market strategist believes that the S&P 500 is primed to shed about 7% in the coming weeks before conditions improve.

In a new episode of the bank’s Thoughts on the Market podcast, Morgan Stanley chief US equity strategist Mike Wilson says the stock correction started in October and is now in its latter stages.

Read the rest of the story here: https://www.capitalaidaily.com/morgan-stanley-says-get-your-shopping-list-ready-predicts-sp-500-falling-to-6300-heres-the-timeline/

Dan Simkowitz to Speak at the Annual Morgan Stanley European Financials ConferenceMarch 4, 2026 4:30 PM
Business Wire
Dan Simkowitz, Co-President of Morgan Stanley, will speak at the Annual Morgan Stanley European Financials Conference which will be held in London, UK, on Wednesday, March 18, 2026 at 11:00 a.m. GMT (7:00 a.m. ET).


Both live and on-demand versions of the webcast will be available on www.morganstanley.com in the Investor Relations section.


Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260304394670/en/
Media Relations: Wesley McDade, 212.761.2430


Investor Relations: Leslie Bazos, 212.761.5352


Original: Dan Simkowitz to Speak at the Annual Morgan Stanley European Financials Conference

Good dip recently, good re-load MS

Majority of States Exceed Revenue Targets, Classified as ‘Stable’February 23, 2026 9:15 AM
Business Wire
Morgan Stanley Investment Management releases annual State of the States Report


Morgan Stanley Investment Management (MSIM) today released the 13th annual State of the States report, which indicates a stable credit outlook for most states and includes analysis of new factors tied to the global economy and the shifting balance between federal funding and state-driven support for national programs. The State of the States report examines the financial health of the 50 states and Puerto Rico and leverages MSIM’s proprietary ratings methodology.


Report Highlights:



34 states exceeded revenue estimates in fiscal year 2025 and another nine met expectations; seven states (and Puerto Rico) reported revenue below estimates.



The State of the States report indicates stronger gross domestic product (GDP) growth, favorable investment returns and pension reforms may have prompted the median debt-to-GDP and unfunded pension-to-GDP ratios to significantly decline to 3.9% in 2024 from 8.3% in 2011.



Rainy day funds, also known as budget stabilization funds, are believed to be a strong indicator of how prepared a state is for recessions and economic downturns; on average, these funds were approximately 13% of expenditures, which is consistent with 2024 levels and approaching the record high of approximately 15%. However, five states have less in rainy day funds now than they did in 2007.



Interstate population migration affects state tax bases with Florida seeing the highest increase in adjusted gross income and New York seeing the largest decrease.



Craig Brandon, co-head of Municipals at Morgan Stanley Investment Management, emphasized the importance of deep research and analysis of a range of factors that influence states’ creditworthiness and overall financial health. “We believe the municipal market is healthy, but there may be challenges ahead as states adjust to shifting tariff policy, broader economic trends population migration and the downstream effect of changing federal aid programs like federal emergency management, supplemental nutrition assistance and low-income health care coverage.”


Brandon elaborated, stating that the team included new tariff and import / export data in the annual report. “We believe that tariffs affect the state-level economies too; for instance, imports can play a key role for a state with a manufacturing focus, but a state with a larger export footprint may feel the impact of tariffs first.” Brandon continued, “Similarly, people moving between states has an impact on state income potential. However, the volume of people isn’t what affects state income but rather the degree of wealth entering or leaving a state.”


Additional Key findings:



Most states maintained manageable debt burdens in 2025. The state median liability-to-GDP ratio declined from approximately 11.5% in 2011 to 4.8% in 2024.



Puerto Rico remains a significant outlier; its approximately 54% liabilities-to-debt ratio was nearly double that of any of the 50 states.



Alaska, Wyoming and Tennessee have the lowest tax burden as a percentage of personal income, which may indicate they have more flexibility to raise taxes and, in turn, state revenue, as needed; however, 12 other states reported approximately 12% personal income tax burden, which may limit this option.



As in past years, Medicaid spending continues to dwarf other fixed-cost spending with total Medicaid spending averaging 28% of state budgets.



“We believe that a strong credit outlook for the states bodes well for the overall municipals market, but there are additional complexities for municipal investors to consider,” said Brandon. “In our view, fundamental, active credit research powers the municipal investment market because we often see examples of strong issuers based in struggling regions and vice versa. It is imperative to evaluate each investment opportunity individually before putting money to work.”


Developed by the investment management municipal research team, this comprehensive report details what the team sees as the biggest issues facing the 50 states and Puerto Rico and seeks to rank them based on their creditworthiness and overall financial health. The State of the States report leverages the team’s proprietary ratings methodology that is based on both quantitative factors, including overall state economy and wealth, financial performance, outstanding debt and unfunded retirement obligations, as well as qualitative factors, including projected budget shortfalls or surpluses, states’ historical record of meeting projections, pension or other post-employment benefit (OPEB) reform initiatives and the success of proposals to increase revenues and decrease expenditures.


Read the full State of the States Report.


About Morgan Stanley Investment Management


Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 1,400 investment professionals around the world and $1.9 trillion in assets under management or supervision as of December 31, 2025. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service, and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im.


About Morgan Stanley


Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.


RISK CONSIDERATIONS: Investing involves risk including the risk of loss.


Municipal Risk: There generally is limited public information about municipal issuers. Investments in income securities may be affected by changes in the creditworthiness of the issuer and are subject to the risk of non-payment of principal and interest. The value of income securities also may decline because of real or perceived concerns about the issuer's ability to make principal and interest payments. As interest rates rise, the value of certain income investments is likely to decline. Investments rated below investment grade (sometimes referred to as "junk") are typically subject to greater price volatility and illiquidity than higher rated investments.


This material is a general communication, which is not impartial, is for informational and educational purposes only, not a recommendation to purchase or sell specific securities, or to adopt any particular investment strategy. Information does not address financial objectives, situation or specific needs of individual investors.


This material is only intended for and will be only distributed to persons resident in jurisdictions where such distribution or availability would not be contrary to local laws or regulations. MSIM, the asset management division of Morgan Stanley (NYSE: MS), and its affiliates have arrangements in place to market each other’s products and services. Each MSIM affiliate is regulated as appropriate in the jurisdiction it operates. MSIM’s affiliates are: Calvert Research and Management, Eaton Vance Management, Parametric Portfolio Associates LLC, Parametric SAS, and Atlanta Capital Management LLC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260223502946/en/
Media Relations Contact:

Colleen McElhinney

617.672.8995

Colleen.McElhinney@morganstanley.com


Original: Majority of States Exceed Revenue Targets, Classified as ‘Stable’

Morgan Stanley Schedules Fourth Quarter and Full-Year 2026 Investor Conference CallFebruary 19, 2026 4:30 PM
Business Wire
Morgan Stanley (NYSE: MS) will announce its fourth quarter and full-year 2026 financial results on Thursday, January 14, 2027, at approximately 7:30 a.m. (ET). A conference call to discuss the results will be held on January 14, 2027, at 9:30 a.m. (ET).


The call will be available at www.morganstanley.com and playback will be available via webcast on our website. Dial-in information will be provided at a later date.


Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260219517588/en/
Media Relations: Wesley McDade, 212.761.2430

Investor Relations: Leslie Bazos, 212.761.5352


Original: Morgan Stanley Schedules Fourth Quarter and Full-Year 2026 Investor Conference Call

Morgan Stanley Wealth Management Reduces Fees on Private Shares Marketplace EquityZen, Broadening Private Markets AccessFebruary 19, 2026 9:30 AM
Business Wire
Buy and Sell Side Fees Reduced to 2.5% for Investors and Shareholders


Morgan Stanley Wealth Management today announced that EquityZen, a leading private shares platform it acquired in January 2026, is immediately lowering transaction fees for both investors and shareholders on its marketplace. With Morgan Stanley’s expansive private markets ecosystem, EquityZen clients benefit from the scale gained from the acquisition.


“The strategic acquisition of EquityZen was about bringing a comprehensive end-to-end solution to our clients,” said Jed Finn, Head of Morgan Stanley Wealth Management. “Bringing down fees allows more clients to transact and build wealth in a frictionless, holistic way. As the world’s biggest wealth manager, Morgan Stanley has strong demand for access to private shares and we have the supply through our cap table management capabilities and institutional relationships with issuers. With EquityZen’s marketplace technology, we can now build a differentiated value proposition for all participants anchored in the ‘issuer-first’ operating principle that is shared across Morgan Stanley and EquityZen.”


The lower fees take effect immediately with buy and sell side fees reduced to 2.5% down from 5% for most transactions—cutting in half current standard fees. The industry-lowest minimums of $5,000 will continue. This fee reduction extends to EquityZen’s innovative “Express Deals” where an investor who previously invested in certain EquityZen funds can sell their fund interest to another investor on the EquityZen platform.


“EquityZen has been a pioneer in the democratization of private markets, expanding access through its industry-leading technology platform,” said Atish Davda, Founder of EquityZen. “As we join forces with Morgan Stanley, we gain the full backing of a financial powerhouse—leveraging its scale and expertise to raise the bar for the industry and create a world-class experience for EquityZen clients and shareholders.”


About Morgan Stanley Wealth Management

Morgan Stanley Wealth Management 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, cash management and lending products and services, annuities and insurance, retirement, and trust services. Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.


About Morgan Stanley

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit https://www.morganstanley.com/.


Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.


About EquityZen

EquityZen, a subsidiary of Morgan Stanley, is a leading marketplace for pre-IPO investments, connecting shareholders of private companies with accredited investors. Through its category-leading technology and innovative approach, EquityZen delivers data-driven insights and tools that empower its 800,000 users to navigate the private markets with confidence. Having completed more than 51,000 private placements in nearly 500 private companies, EquityZen is on a mission to deliver “Private Markets for the Public.”


EquityZen provides investors with access to private market investments and other alternative investments. Alternative investments often are speculative and include a high degree of risk. Investors could lose all or a substantial amount of their investment. Alternative investments are appropriate only for eligible, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time. They may be highly illiquid and can engage in leverage and other speculative practices that may increase the volatility and risk of loss. Alternative investments typically have higher fees than traditional investments. Investors should carefully review and consider potential risks before investing.


Clients are responsible for complying with applicable securities laws requirements and potential issuer restrictions and should consult with third-party advisors regarding the risks of transacting in private issuer securities, including the risk of transacting in a market with little or no price transparency or liquidity.


This has been prepared for informational purposes only and is not a solicitation of any offer to buy or sell any security or other financial instrument, or to participate in any trading strategy. This material does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Morgan Stanley recommends that investors independently evaluate particular investments and strategies and encourages investors to seek the advice of a Financial Advisor.


This material should not be viewed as investment advice or recommendations with respect to asset allocation or any particular investment.


Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.


© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260218058912/en/
Media Relations Contact: Lynn Cocchiola; Lynn.Cocchiola@morganstanley.com


Original: Morgan Stanley Wealth Management Reduces Fees on Private Shares Marketplace EquityZen, Broadening Private Markets Access

Morgan Stanley Declares Dividends on Its Preferred StockFebruary 13, 2026 4:30 PM
Business Wire
Morgan Stanley today declared a regular dividend on the outstanding shares of each of the following preferred stock issues:



Floating Rate Non-Cumulative Preferred Stock, Series A - $289.61 per share (equivalent to $0.289613 per Depositary Share)




10 Percent Non-Cumulative Non-Voting Perpetual Preferred Stock, Series C - $25.00 per share




Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series E - $445.31 per share (equivalent to $0.445313 per Depositary Share)




Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series F - $429.69 per share (equivalent to $0.429688 per Depositary Share)




Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series I - $398.44 per share (equivalent to $0.398438 per Depositary Share)




Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K - $365.63 per share (equivalent to $0.365625 per Depositary Share)




4.875 Percent Non-Cumulative Preferred Stock, Series L - $304.69 per share (equivalent to $0.304688 per Depositary Share)




Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series M - $29.38 per share




Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series N - $1,806.05 per share (equivalent to $18.060492 per Depositary Share)




4.250 Percent Non-Cumulative Preferred Stock, Series O - $265.63 per share (equivalent to $0.265625 per Depositary Share)




6.500 Percent Non-Cumulative Preferred Stock, Series P - $406.25 per share (equivalent to $0.406250 per Depositary Share)




6.625 Percent Non-Cumulative Preferred Stock, Series Q - $414.06 per share (equivalent to $0.414063 per Depositary Share)



The dividends for the Preferred Stock Series M and N are payable on March 16, 2026 to stockholders of record at the close of business on February 27, 2026.


The dividends for the Preferred Stock Series A, C, E, F, I, K, L, O, P and Q are payable on April 15, 2026 to stockholders of record at the close of business on March 31, 2026.


Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260213291241/en/
Media Relations: Wesley McDade, 212.761.2430

Investor Relations: Leslie Bazos, 212.761.5352


Original: Morgan Stanley Declares Dividends on Its Preferred Stock

Morgan Stanley to Host 17th Annual Go Red Women’s Leadership Event in Collaboration with the American Heart AssociationFebruary 5, 2026 10:00 AM
Business Wire
In special recognition of the Go Red for Women® campaign, Morgan Stanley Wealth Management will collaborate with the American Heart Association in Westchester and Fairfield Counties, to host the 17th Annual Go Red Women’s Leadership event on Friday, February 6 at 8:00 a.m. EST at Morgan Stanley’s Purchase, NY offices. The event will also be live streamed.


As in years prior, the leadership event is part of Morgan Stanley’s long-standing support of the Go Red for Women® campaign, designed to celebrate the power and authentic voices of women as well as their influence and strength in numbers against a silent killer.


“This event is always an opportunity to celebrate women who lead with purpose and to elevate the conversation around women’s heart health—an issue that affects families and communities in profound ways,” said Sandra L. Richards, Managing Director, Head of Global Sports & Entertainment and Segment Sales & Engagement, Morgan Stanley Wealth Management. “We’re proud to convene voices and experiences that inspire action, resilience and leadership while building a community support system among us to combat the silent killer and promote heart health for the past 17 years.”


The event will convene Morgan Stanley colleagues, clients, community members and leaders for a morning dedicated to women’s heart health, education, leadership and purpose. Programming will include a heart-healthy breakfast experience, followed by special opening remarks, and two featured fireside conversations with trailblazers who are redefining their industries:



Dystany Spurlock, a pioneering professional motorcycle drag racer and the only Black woman actively competing in professional motorsports globally, will be interviewed by Crystal McCrary, award-winning filmmaker, television producer, author and entrepreneur



Ruth Carter, record-breaking Academy Award-winning costume designer celebrated for her groundbreaking work transforming the Black Panther superhero into an African King, the first Black person to win the Oscar for Best Costume Design, and for myriad other renowned work most recently in the critically acclaimed 2025 hit movie, “Sinners”, will be interviewed by Morgan Stanley’s own Sandra L. Richards.



“By partnering with the American Heart Association in Westchester and Fairfield Counties, we’re reinforcing our shared commitment to awareness and education, while creating a meaningful experience that brings our community together,” said Terri Ferri, Managing Director, Market Executive – Soundview Market, Morgan Stanley Wealth Management. “We look forward to welcoming guests on Friday morning for impactful conversations and inspiration they can carry forward.”


Added Dawn French, Board Chair, American Heart Association in Westchester and Fairfield Counties: “Go Red for Women® is about driving action and outcomes—through education, advocacy and community—so more women recognize their risk and feel empowered to protect their heart health. “We’re grateful for Morgan Stanley’s continued support and for events like this that help elevate awareness and inspire lasting change.”


Founded in 1924, the American Heart Association is the nation’s oldest and largest voluntary health organization dedicated to building healthier lives, free of heart disease and stroke. To help prevent, treat, and defeat these diseases – America’s number one and number four killers – they fund cutting-edge research, conduct lifesaving public and professional educational programs, and advocate to protect public health.


For more information about the Go Red for Women® initiative, please visit: www.goredforwomen.org.


About Morgan Stanley

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 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions, and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.


About Morgan Stanley Wealth Management

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, cash management and lending products and services, annuities and insurance, retirement, and trust services.


About the American Heart Association

The American Heart Association is a relentless force for a world of longer, healthier lives. Dedicated to ensuring equitable health in all communities, the organization has been a leading source of health information for more than one hundred years. Supported by more than 35 million volunteers globally, we fund groundbreaking research, advocate for the public’s health, and provide critical resources to save and improve lives affected by cardiovascular disease and stroke. By driving breakthroughs and implementing proven solutions in science, policy, and care, we work tirelessly to advance health and transform lives every day. Connect with us on heart.org, Facebook, X or by calling 1-800-AHA-USA1.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260205633986/en/
Christine Jockle - christine.jockle@morganstanley.com

Jamie Palmer - jamie.palmer@morganstanleypwm.com

Actum (on behalf of Morgan Stanley) - teamms@actumllc.com


Original: Morgan Stanley to Host 17th Annual Go Red Women’s Leadership Event in Collaboration with the American Heart Association

Morgan Stanley Inclusive & Sustainable Ventures organise une journée mondiale de démos et ouvre les candidatures pour sa prochaine cohorteFebruary 4, 2026 3:37 PM
Business Wire
Morgan Stanley (NYSE : MS) Inclusive & Sustainable Ventures (MSISV) accueille aujourd'hui son évènement mondial annuel avec une journée de démos, auquel participent des start-ups et des organisations à but non lucratif des Amériques, d’Europe, du Moyen-Orient et d’Afrique (EMEA). Ces organisations présenteront leurs projets à plus de 300 investisseurs, ainsi qu’à des partenaires commerciaux et clients potentiels.


Au cours des cinq derniers mois, MSISV a apporté son soutien à 29 start-ups et quatre organisations à but non lucratif grâce à un programme d'accélération intensif, en leur fournissant des capitaux, un programme de formation sur mesure, des possibilités de mentorat et des ressources de croissance commerciale issues de l'écosystème de partenaires internes et externes de Morgan Stanley.


« Avec des fondateurs issus de 10 pays et de 13 secteurs d'activité, notre cohorte de Morgan Stanley Inclusive & Sustainable Ventures souligne le potentiel des innovateurs du monde entier à commercialiser des solutions disruptives pour les entreprises et la société », a déclaré Jessica Alsford, directrice du développement durable chez Morgan Stanley. « Nous nous réjouissons de voir ces fondateurs poursuivre leur croissance grâce au soutien de notre cabinet intégré. »


Les start-ups et les organisations à but non lucratif de cette nouvelle promotion sont des moteurs d'innovation dans des secteurs comme la santé, l'industrie, les transports, l'énergie, les services à la personne et les ressources humaines. Leurs solutions répondent à divers enjeux sociétaux et commerciaux, comme l'accessibilité des lieux de travail pour les personnes malvoyantes, l'accès aux dispensaires de médicaments pour les maladies chroniques, les systèmes robotisés de gestion des déchets et l'automatisation du processus de sélection des candidats et des activités RH.


Les organisations participantes sont : Airpals (États-Unis), Bump (États-Unis), BuuPass (Kenya), Care Hero (États-Unis), Caring Africa (Nigeria), Citera (Canada), CLIMADA Technologies (Suisse), COUNT (États-Unis), Cytochroma (Royaume-Uni), Danu Robotics (Royaume-Uni), Envisionit Deep AI (Royaume-Uni), Fabrico (Bulgarie), FastVisa (États-Unis), Femly (États-Unis), Fitnescity Health (États-Unis), Hamperapp (États-Unis), InsideOut (Royaume-Uni), LightEd Impact Foundation (Nigeria), Mimicrete (Royaume-Uni), Moodbit (États-Unis), Motics (Royaume-Uni), Pelebox (Afrique du Sud), Pirta (États-Unis), Plan Your Baby (Royaume-Uni), ReBokeh (États-Unis), RightMatch AI (États-Unis), Rivet (États-Unis), S.Lab (Espagne), Social Good Software (États-Unis), SolarAPP Foundation (États-Unis), Tuli Health (Royaume-Uni), Uvera (Arabie saoudite) et Zuri Health (Royaume-Uni). Pour en savoir plus sur la cohorte, veuillez cliquer ici.


Par ailleurs, les candidatures pour la prochaine cohorte de MSISV, destinée aux start-ups en phase de démarrage et aux organisations à but non lucratif, sont ouvertes dès aujourd'hui. L'accent est mis sur l'impact dans les domaines de l'environnement, de la santé, de l'autonomisation économique, de l'éducation et du capital humain. Les organisations peuvent candidater jusqu'au 31 mars 2026. Le lancement de la cohorte est prévu dans le courant de cette année. Pour en savoir plus sur MSISV, veuillez cliquer ici.


À propos de Morgan Stanley Inclusive & Sustainable Ventures

Morgan Stanley Inclusive & Sustainable Ventures (MSISV) offre aux innovateurs un accès au capital et aux ressources nécessaires à leur développement et à leur expansion. Notre mission est de catalyser l'innovation et l'impact en soutenant des start-ups et des organisations à but non lucratif qui créent des solutions pour un avenir plus inclusif et durable.


À propos de Morgan Stanley

Morgan Stanley (NYSE : MS) est une entreprise mondiale de services financiers de premier plan, offrant une large gamme de services dans les domaines de la banque d'investissement, des titres, de la gestion de patrimoine et de la gestion d'investissements. Avec des bureaux dans 42 pays, les employés de l'entreprise servent des clients dans le monde entier, parmi lesquels on compte des entreprises, des gouvernements, des institutions et des particuliers. Pour plus d'informations sur Morgan Stanley, veuillez visiter www.morganstanley.com.


© 2026 Morgan Stanley Smith Barney LLC. Membre de la SIPC.


Le texte du communiqué issu d’une traduction ne doit d’aucune manière être considéré comme officiel. La seule version du communiqué qui fasse foi est celle du communiqué dans sa langue d’origine. La traduction devra toujours être confrontée au texte source, qui fera jurisprudence.

Consultez la version source sur businesswire.com : https://www.businesswire.com/news/home/20260203963018/fr/
Contact relations médias : Carrie Hall, carrie.hall@morganstanley.com


Original: Morgan Stanley Inclusive & Sustainable Ventures organise une journée mondiale de démos et ouvre les candidatures pour sa prochaine cohorte

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businesswire.com????????????:https://www.businesswire.com/news/home/20260203454341/ja/
Media Relations Contact: Carrie Hall, carrie.hall@morganstanley.com


Original: ????·?????·???????&???????·????????????·??·?????????????????

Morgan Stanley Inclusive & Sustainable Ventures organisiert Global Demo Day und öffnet Anmeldephase für nächste TeilnehmergruppeFebruary 4, 2026 3:05 PM
Business Wire
Morgan Stanley (NYSE: MS) veranstaltet heute seinen jährlichen globalen Inclusive & Sustainable Ventures (MSISV) Demo Day, an dem Start-ups und gemeinnützige Organisationen aus Nord- und Südamerika, Europa, dem Nahen Osten und Afrika (EMEA) teilnehmen. Die Organisationen werden sich vor mehr als 300 Investoren sowie möglichen Geschäftspartnern und Kunden präsentieren.


Im Rahmen eines intensiven Accelerator-Programms hat MSISV in den letzten fünf Monaten 29 Start-ups und 4 gemeinnützige Organisationen unterstützt und ihnen Kapital, individuell abgestimmte Lehrpläne, Mentorings und Ressourcen für das Unternehmenswachstum aus dem Ökosystem interner und externer Partner von Morgan Stanley zur Verfügung gestellt.


„Mit Gründern aus 10 Ländern und 13 Branchen demonstriert die Gruppe von Morgan Stanley Inclusive & Sustainable Ventures das weltweite Potenzial von Innovatoren, disruptive Lösungen für Wirtschaft und Gesellschaft auf den Markt zu bringen“, so Jessica Alsford, Chief Sustainability Officer bei Morgan Stanley. „Wir werden gespannt mitverfolgen, wie diese Gründer mit der Unterstützung unseres integrierten Unternehmens weiter wachsen.“


Die Start-ups und gemeinnützigen Organisationen der aktuellen Gruppe treiben Innovationen in Branchen wie Gesundheitswesen, Fertigung, Transport, Energie, Pflege und Personalwesen voran. Ihre Lösungen adressieren ein breites Spektrum an geschäftlichen und gesellschaftlichen Herausforderungen, etwa die Barrierefreiheit am Arbeitsplatz für Mitarbeiter mit Sehbehinderungen, den Zugang zu Apotheken für chronisch Kranke, Robotersysteme für die Abfallwirtschaft oder automatisierte Bewerberauswahl und Personalverwaltung.


Die Organisationen sind: Airpals (USA), Bump (USA), BuuPass (Kenia), Care Hero (USA), Caring Africa (Nigeria), Citera (Kanada), CLIMADA Technologies (Schweiz), COUNT (USA), Cytochroma (GB), Danu Robotics (GB), Envisionit Deep AI (GB), Fabrico (Bulgarien), FastVisa (USA), Femly (USA), Fitnescity Health (USA), Hamperapp (USA), InsideOut (GB), LightEd Impact Foundation (Nigeria), Mimicrete (GB), Moodbit (USA), Motics (GB), Pelebox (Südafrika), Pirta (USA), Plan Your Baby (GB), ReBokeh (USA), RightMatch AI (USA), Rivet (USA), S.Lab (Spanien), Social Good Software (USA), SolarAPP Foundation (USA), Tuli Health (GB), Uvera (Saudi-Arabien) und Zuri Health (GB). Weitere Informationen über die Gruppe finden Sie hier.


Außerdem beginnt heute die Anmeldephase für die nächste MSISV-Gruppe von Start-ups und gemeinnützigen Organisationen in der Frühphase, die sich auf die Bereiche Umwelt, Gesundheitswesen, wirtschaftliches Empowerment, Bildung und Humankapital konzentrieren. Organisationen können sich bis zum 31. März 2026 bewerben. Der Start der Gruppe ist für dieses Jahr geplant. Nähere Informationen über MSISV erfahren Sie hier.


Über Morgan Stanley Inclusive & Sustainable Ventures

Morgan Stanley Inclusive & Sustainable Ventures (MSISV) erleichtert Innovatoren den Zugang zu Kapital und Ressourcen, um sie bei ihrer Entwicklung und Skalierung zu unterstützen. Unsere Mission ist es, Innovationen und Veränderungen anzustoßen, indem wir Start-ups in der Frühphase und gemeinnützige Organisationen dabei unterstützen, Lösungen für eine inklusivere und nachhaltigere Zukunft zu entwickeln.


Über Morgan Stanley

Morgan Stanley (NYSE: MS) ist ein weltweit führendes Finanzdienstleistungsunternehmen, das eine breites Spektrum von Dienstleistungen in den Bereichen Investment Banking, Wertpapiere, Vermögensverwaltung und Investment Management anbietet. Die Beschäftigten des Unternehmens, die an 42 Standorten tätig sind, betreuen Kunden in aller Welt, darunter Unternehmen, Regierungen, Institutionen und Privatpersonen. Weitere Informationen über Morgan Stanley finden Sie unter www.morganstanley.com.


© 2026 Morgan Stanley Smith Barney LLC. Mitglied der SIPC.


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Media Relations – Kontakt: carrie.hall@morganstanley.com


Original: Morgan Stanley Inclusive & Sustainable Ventures organisiert Global Demo Day und öffnet Anmeldephase für nächste Teilnehmergruppe

Morgan Stanley $MS Total Debt (mrq) $467.03B

Jed Finn to Speak at the UBS Financial Services ConferenceJanuary 27, 2026 9:30 PM
Business Wire
Jed Finn, Head of Wealth Management at Morgan Stanley, will speak at the UBS Financial Services Conference on February 10, 2026, at 3:30 p.m. (ET).


Both live and on-demand versions of the webcast will be available on www.morganstanley.com in the Investor Relations section.


Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260127040357/en/
Media Relations: Wesley McDade, 212.761.2430

Investor Relations: Leslie Bazos, 212.761.5352


Original: Jed Finn to Speak at the UBS Financial Services Conference

Morgan Stanley Closes Acquisition of EquityZenJanuary 27, 2026 4:47 PM
Business Wire
Morgan Stanley today announced that it has completed the acquisition of leading private shares platform EquityZen.


“Integrating EquityZen’s industry-leading technology into our private market ecosystem enhances our ability to seamlessly connect supply and demand at scale,” said Jed Finn, Head of Morgan Stanley Wealth Management. “With corporate relationships spanning our Workplace channel to our Investment Bank, we’re in a unique position to connect clients seeking liquidity with investors seeking private markets exposure—both increasingly in demand as companies stay private for longer and investors seek diversification.”


About Morgan Stanley Wealth Management

Morgan Stanley Wealth Management 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, cash management and lending products and services, annuities and insurance, retirement, and trust services. Morgan Stanley Wealth Management is the trade name of Morgan Stanley Smith Barney LLC, a registered broker-dealer in the United States.


About Morgan Stanley

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit https://www.morganstanley.com/.


Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.


EquityZen will provide investors with access to private market investments and other alternative investments. Alternative investments often are speculative and include a high degree of risk. Investors could lose all or a substantial amount of their investment. Alternative investments are appropriate only for eligible, long-term investors who are willing to forgo liquidity and put capital at risk for an indefinite period of time. They may be highly illiquid and can engage in leverage and other speculative practices that may increase the volatility and risk of loss. Alternative investments typically have higher fees than traditional investments. Investors should carefully review and consider potential risks before investing.


Clients are responsible for complying with applicable securities laws requirements and potential issuer restrictions and should consult with third-party advisors regarding the risks of transacting in private issuer securities, including the risk of transacting in a market with little or no price transparency or liquidity.


This communication contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made, which reflect management’s current estimates, projections, expectations, assumptions, interpretations or beliefs and which are subject to risks and uncertainties that may cause actual results to differ materially. Important factors that may cause such a difference include, but are not limited to, (i) the risk that the proposed transaction does not close on the anticipated terms or timing, including as a result of required regulatory approvals or the termination of the definitive agreement relating to the transaction prior to closing, (ii) potential adverse effects resulting from the announcement or completion of the transaction, (iii) the possibility that the anticipated benefits of the proposed transaction are not realized or are not realized within an expected time period, and (iv) the ability of Morgan Stanley and EquityZen to integrate the business successfully and to achieve anticipated synergies. For a discussion of additional risks and uncertainties that may affect the future results of Morgan Stanley, please see “Forward-Looking Statements” preceding Part I, Item 1, “Competition” and “Supervision and Regulation” in Part I, Item 1, “Risk Factors” in Part I, Item 1A, “Legal Proceedings” in Part I, Item 3, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 and “Quantitative and Qualitative Disclosures about Risk” in Part II, Item 7A, in Morgan Stanley’s Annual Report on Form 10-K for the year ended December 31, 2024 and other items throughout the Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, including any amendments thereto. Morgan Stanley does not undertake to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of forward-looking statements.


Diversification does not guarantee a profit or protect against loss in a declining financial market.


© 2026 Morgan Stanley Smith Barney LLC. Member SIPC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260127293083/en/
Media Relations Contact: Thayer Fox; Thayer.Fox@morganstanley.com


Original: Morgan Stanley Closes Acquisition of EquityZen

192.16 MS winning 🚀

188.51 MS bullish 🚀

New highs love it 💲

181.31 MS 🚀

177.32 MS 🚀

Bank Fiancial stock Morgan Stanley $MS
Total Debt (mrq) $479.19B

166.77 MS breaking out. Good dividend

160 break MS just a strong hold now

$MS has cannabis holdings with $CGC https://investorshub.advfn.com/boards/read_msg.aspx?message_id=176656929

150 break MS

148.23 MS bullish

Morgan Stanley owns 20.85M  shares of $NIO https://investorshub.advfn.com/boards/read_msg.aspx?message_id=176526467

MS 145.19

Morgan Stanley reiterates Overweight rating on NIO stock, citing Onvo L90 launch
$MS $NIO