XAGG Overview

Fund Conversion: Morgan Stanley Investment Management has converted the Morgan Stanley Income Opportunities Fund into the Eaton Vance Income Opportunities ETF (NYSE: XAGG) to enhance its actively managed fixed income offerings.

Investment Strategy: The new ETF aims to provide high current income while pursuing total return, focusing on diverse global fixed-income sectors, particularly underrepresented areas in traditional bond portfolios.

ETF Platform Growth: This conversion contributes to MSIM's expanding ETF platform, which now includes 18 funds and over $9 billion in assets, with a significant portion being Eaton Vance-branded actively managed fixed income ETFs.

Market Positioning: The move reflects a trend of converting mutual funds to ETFs for better liquidity and tax efficiency, targeting investors looking for diversified income exposure in a dynamic bond market.

Conversion Announcement: Morgan Stanley Investment Management has successfully converted the Morgan Stanley Income Opportunities Fund into the Eaton Vance Income Opportunities ETF, expanding its range of actively-managed fixed income ETFs to 18.

Investment Strategy: The Eaton Vance Income Opportunities ETF aims to provide diversified exposure to various global fixed income sectors, focusing on underrepresented areas in traditional portfolios, with a primary goal of generating high current income.

Market Positioning: The ETF's strategy is designed to offer flexibility across geographies, sectors, and the yield curve, helping investors navigate shifting market conditions and capitalize on emerging opportunities.

MSIM Overview: Morgan Stanley Investment Management manages approximately $1.8 trillion in assets and employs around 1,400 investment professionals globally, providing a comprehensive suite of investment management solutions to a diverse client base.