Prospectus Supplement
November 29, 2022
Morgan Stanley Mortgage Securities Trust
Supplement dated November 29, 2022 to the Prospectus of Morgan Stanley Mortgage Securities Trust (the "Fund") dated February 28, 2022
Effective December 16, 2022, Neil Stone will no longer serve as a portfolio manager of the Fund. Accordingly, effective December 16, 2022, all references to Mr. Stone will be removed from the Fund's Prospectus. Gregory Finck will remain a portfolio manager of the Fund.
Also, effective December 16, 2022, Matt Buckley will begin serving as a portfolio manager of the Fund.
Accordingly, the following changes will be made to the Prospectus effective December 16, 2022:
The section of the Prospectus entitled "Fund Summary—Fund Management—Portfolio Managers" will hereby be deleted and replaced with the following:
Portfolio Managers. The Fund is managed by members of the Fixed Income organization. Information about the members jointly and primarily responsible for the day-to-day management of the Fund is shown below:
|
Name |
Title with Adviser |
Date Began Managing Fund |
|||||||||
|
Gregory Finck |
Managing Director |
January 2015 |
|||||||||
|
Matt Buckley |
Executive Director |
December 2022 |
|||||||||
In addition, the second, third and fourth paragraphs in the section of the Prospectus entitled "Fund Details—Fund Management" will hereby be deleted and replaced with the following:
The Fund is managed by members of the Fixed Income organization. The team consists of portfolio managers, analysts and traders. Current members of the team jointly and primarily responsible for the day-to-day management of the Fund's portfolio are Gregory Finck and Matt Buckley.
Mr. Finck has been associated with the Adviser in an investment management capacity since December 2014. Prior to joining the Adviser, Mr. Finck was a managing director at Fortress Investment Group from 2008 to 2014. Prior to joining Fortress, Mr. Finck was a managing director at Goldman Sachs where he worked in the mortgage trading division from 1992 until 2008. Mr. Buckley has been associated with the Adviser or its affiliates since September 2005. Mr. Buckley has worked on securitized exposures in multi-sector portfolios as a senior investor since 2005 and began his career in the investment industry in 1998.
Please retain this supplement for future reference.
MSTPRO 11/22
Statement of Additional Information Supplement
November 29, 2022
Morgan Stanley Mortgage Securities Trust
Supplement dated November 29, 2022 to the Statement of Additional Information of Morgan Stanley Mortgage Securities Trust (the "Fund") dated February 28, 2022
Effective December 16, 2022, Neil Stone will no longer serve as a portfolio manager of the Fund. Accordingly, effective December 16, 2022, all references to Mr. Stone will be removed from the Fund's Statement of Additional Information. Gregory Finck will remain a portfolio manager of the Fund.
Also, effective December 16, 2022, Matt Buckley will begin serving as a portfolio manager of the Fund.
Accordingly, the following changes will be made to the Statement of Additional Information effective December 16, 2022:
The section of the Statement of Additional Information entitled "Investment Advisory and Other Services—Fund Management—Other Accounts Managed by Portfolio Managers as of December 31, 2021 (unless otherwise indicated)" will hereby be deleted and replaced with the following:
|
Other Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts |
|||||||||||||||||||||||||
|
Number of Accounts |
Total Assets in the Accounts |
Number of Accounts |
Total Assets in the Accounts |
Number of Accounts |
Total Assets in the Accounts |
||||||||||||||||||||||
|
Gregory Finck |
3 |
$1.1 billion |
15 |
$3.4 billion | 31(1) | $5.9 billion(1) | |||||||||||||||||||||
|
Matt Buckley* |
1 |
$666.4 million |
0 |
$0 |
0 |
$0 | |||||||||||||||||||||
* As of September 30, 2022.
(1) Of these other accounts, one account with approximately $1 billion in assets had performance-based fees.
In addition, the section of the Statement of Additional Information entitled "Investment Advisory and Other Services—Fund Management—Securities Ownership of Portfolio Managers" will hereby be deleted and replaced with the following:
|
Gregory Finck |
Over $1 million |
||||||
|
Matt Buckley* |
None |
||||||
* As of September 30, 2022.
Please retain this supplement for future reference.