Morgan Stanley is cutting 600 funds from its platform, with companies affected having until the end of the week to appeal the decision, according to industry newsletter Ignites. A statement from Morgan Stanley said the company is aiming to offer the highest quality platform by cutting underperforming funds and those unsuccessful in raising assets. The firm cut 700 funds from its platform last year, including all Vanguard funds it previously offered. “While we are disappointed that some investors have chosen not to participate in our offering, we believe this decision was based on a number of factors, including market conditions at the time when these investments were made,
Morgan Stanley is cutting 600 funds from its platform, with companies affected having until the end of the week to appeal the decision, according to industry newsletter Ignites. A statement from Morgan Stanley said the company is aiming to offer the highest quality platform by cutting underperforming funds and those unsuccessful in raising assets. The firm cut 700 funds from its platform last year, including all Vanguard funds it previously offered. The financial services firm currently hosts 2,300 funds on its platform.