This material has been prepared for informational purposes only. It does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Morgan Stanley Smith Barney LLC (“Morgan Stanley”) recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a Morgan Stanley Financial Advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.
The authored books discussed in this material do not constitute an endorsement, authorization, sponsorship by or affiliation with Morgan Stanley. Morgan Stanley has not reviewed the books for approval and is not responsible for the information contained therein.
This material contains forward-looking statements, and there can be no guarantee that they will come to pass. Information contained herein is based on data from multiple sources, and Morgan Stanley makes no representation as to the accuracy or completeness of data from sources outside of Morgan Stanley. References to third parties contained herein should not be considered a solicitation on behalf of or an endorsement of those entities by Morgan Stanley. Neither the information provided nor any opinion expressed constitutes a solicitation by Morgan Stanley with respect to the purchase or sale of any security, investment, strategy or product that may be mentioned.
The views, opinions or advice contained within the interviews are solely those of the interviewee, who is not a Morgan Stanley employee, and do not necessarily reflect those of Morgan Stanley Smith Barney LLC or its affiliates. The strategies and/or investments referenced may not be appropriate for all investors, as the appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.
Past performance is not a guarantee or indicative of future performance.
Any securities mentioned are provided for informational purposes only and should not be deemed as a recommendation to buy or sell. Securities discussed in this report may not be suitable for all investors. It should not be assumed that the securities transactions or holdings discussed were or will be profitable. Morgan Stanley recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a Financial Advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.
Investing in the market entails the risk of market volatility. The value of all types of investments, including mutual funds, may increase or decrease over varying time periods.
Because of their narrow focus, sector investments tend to be more volatile than investments that diversify across many sectors and companies. Investment returns will fluctuate so that an investor’s shares when redeemed may be worth more or less than original cost. Investors should carefully consider the investment objectives and risks, as well as charges and expenses of a mutual fund, before investing. To obtain a prospectus, contact your Financial Advisor or visit the fund company’s website. The prospectus contains this and other information about the mutual fund. Read the prospectus carefully before investing.
Morgan Stanley Reserved Living & Giving is a tiered complimentary loyalty program that rewards Morgan Stanley’s most valued clients. Morgan Stanley Smith Barney LLC reserves the right to change or terminate the Reserved or Signature Access program or partner offers at any time and without notice. Reserved and Signature Access program participant qualifications are reviewed periodically to confirm that they continue to qualify for this program. Not all offers are available to nonresident clients.
Signature Access, the highest tier of the Reserved Living & Giving program, is part of Morgan Stanley Lifestyle Advisory. This tier features products and services that are provided by third-party service providers, not Morgan Stanley Smith Barney LLC (“Morgan Stanley”). Morgan Stanley may not receive a referral fee or have any control concerning the delivery of such products or services. Please perform a thorough due diligence and make your own independent decision.
Not all products and services discussed are available at Morgan Stanley.
Tax laws are complex and subject to change. Morgan Stanley, its affiliates, and Morgan Stanley Financial Advisors, Private Wealth Advisors, and International Client Advisors do not provide tax or legal advice. Individuals are urged to consult their personal tax or legal advisors to understand the tax and legal consequences of any actions, including any implementation of any strategies or investments described herein. Clients should also consult their tax advisor for matters involving taxation and tax planning, and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
This material may provide the addresses of, or contain hyperlinks to, websites. Except to the extent to which the material refers to website material of Morgan Stanley, the firm has not reviewed the linked site. Equally, except to the extent to which the material refers to website material of Morgan Stanley, the firm takes no responsibility for, and makes no representations or warranties whatsoever as to, the data and information contained therein. Nor do we guarantee their accuracy and completeness. Such address or hyperlink (including addresses or hyperlinks to website material of Morgan Stanley) is provided solely for your convenience and information, and the content of the linked site does not in any way form part of this document. Accessing such website or following such link through the material or the website of the firm shall be at your own risk, and we shall have no liability arising out of, or in connection with, any such referenced website. By providing the third-party publication(s) and/or links to a third-party website(s), we are not implying that Morgan Stanley has an affiliation, sponsorship, endorsement, etc. with the third party or that any monitoring is being done by Morgan Stanley or its affiliates of any information contained within the publication(s) or website(s). The opinions expressed by the author(s) are solely their own and do not necessarily reflect those of Morgan Stanley.
© 2023 Morgan Stanley Smith Barney LLC. Member SIPC.
CRC#6039467 (11/2023)
