Morgan Stanley has launched
the MS Long Term Trends UCITS Fund under its FundLogic alternatives umbrella.
The fund provides exposure to the Winton Capital Management Diversified Program.

This is the third in a
series of four commodity trading advisor strategies to be made available in a UCITS
format through Morgan Stanley’s partnership with Equinox Fund Management, a US-based
multi-manager which specialises in constructing multiple CTA portfolios.

“Winton’s investment process … seeks to identify
explanatory variables that have some predictive power over future returns. This
goal is achieved by pursuing a diversified trading scheme that does not rely
upon favourable conditions in any particular market, nor on market direction,”
Alvise Munari, managing director and global head of equity derivatives, sales
and financial engineering at Morgan Stanley, said in a statement.

Morgan Stanley describes Winton’s investment process as “quantitative,
systematic and research-driven”. Its investment
universe mainly consists of futures contracts linked to stock indices, bonds,
short-term interest rates, currencies, precious and base metals, grains, livestock,
energy and agricultural products.