Artisan Partners: “We Believe Morgan Stanley (MS) Will Prove its Resiliency and Value”

Artisan Partners, a high value-added investment management firm, published its “Artisan Value Fund” third quarter 2021 investor letter – a copy of which can be downloaded here. A return of -1.33% was recorded by its Investor Class: ARTLX, -1.28% by both its Advisor Class: APDLX, and Institutional Class: APHLX for the third quarter of 2021, all below the Russell 1000® Value Index that delivered a -0.78% return, and the Russell 1000® Index that gained 0.21% for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Artisan Value Fund, in its Q3 2021 investor letter, mentioned Morgan Stanley (NYSE: MS) and discussed its stance on the firm. Morgan Stanley is a New York, New York-based investment banking company with a $178.1 billion market capitalization. MS delivered a 44.86% return since the beginning of the year, while its 12-month returns are up by 54.48%. The stock closed at $99.27 per share on December 06, 2021.

Here is what Artisan Value Fund has to say about Morgan Stanley  in its Q3 2021 investor letter:

“Morgan Stanley, a leading global financial services company, came into the portfolio in late 2020 as a result of its purchase of E*TRADE. The acquisition is a great fit for Morgan Stanley’s wealth management platform and provides a considerable amount of non-interest-bearing deposit funding. James Gorman, chairman and CEO, has steadily derisked the business by adding less volatile fee streams to complement its leading positions in cyclical businesses such as advisory, equities and FICC (fixed income, currencies and commodities). We believe the company will prove its resiliency and value over the long term.”

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Based on our calculations, Morgan Stanley (NYSE: MS) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. MS was in 65 hedge fund portfolios at the end of the third quarter of 2021, compared to 69 funds in the previous quarter. Morgan Stanley (NYSE: MS) delivered a -4.78% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.