MRLAX : Morgan Stanley Institutional Fund, Inc. Global Real Estate Portfolio Class I

Fund Summary

The investment seeks to provide current income and capital appreciation. The fund invests at least 80% of its assets (plus any borrowings for investment purposes) in equity securities of companies in the real estate industry, including real estate operating companies ("REOCs"), real estate investment trusts ("REITs") and similar entities established outside the United States ("foreign real estate companies"). It will invest primarily in companies located in the developed countries of North America, Europe and Asia, but may also invest in emerging markets.