Morgan Stanley - MS STOCK NEWS

TruFund Financial Services has made a preferred equity investment in Genesis Companies, an African American-owned real estate firm, to enhance its growth and development capacity. This investment, part of the Impact Developers Fund launched in July 2020 by Morgan Stanley, TruFund, and the Ford Foundation, aims to support minority developers facing capital access challenges. Genesis, with a 16-year history of developing affordable housing in New York and New Jersey, is positioned to leverage this investment for further community impact.

The Eaton Vance Floating-Rate Income Plus Fund (NYSE: EFF) held a Special Meeting on March 19, 2021, where no quorum was present to approve a new investment advisory agreement with Eaton Vance Management. Following a previous decision on March 11, 2021, the Fund's Board approved a liquidation and termination plan, which will be presented for shareholder approval at the Annual Meeting on May 14, 2021. Eaton Vance Management, now part of Morgan Stanley after its acquisition on March 1, 2021, continues to manage the Fund under an interim agreement that lasts for up to 150 days.

Shareworks by Morgan Stanley has released the report Transparency 2021: Addressing Gaps in Equity Compensation, revealing stark disparities in equity compensation participation. Key findings show that only 41% of women participate compared to 52% of men. Among granted equity, 25% are working mothers, and just 12% are BIPOC. The report emphasizes the need for education on equity compensation and outlines five strategies to foster inclusivity in equity plans. The study, conducted by Rebel & Co., surveyed 574 participants across various industries and regions.

Morgan Stanley has launched the 2021 Strategy Challenge, a 11-week pro bono program where employees in New York and London will collaborate with 12 nonprofit organizations. The initiative aims to provide strategic recommendations to help these organizations overcome critical challenges exacerbated by the COVID-19 pandemic. Notable participating nonprofits include Center for Urban Families and Great Ormond Street Hospital Children’s Charity. This program showcases Morgan Stanley's commitment to social responsibility and community support.

Morgan Stanley announced the complete redemption of its Series J Fixed-to-Floating Rate Non-Cumulative Preferred Stock and corresponding Depositary Shares, effective April 15, 2021. Each Series J Depositary Share, with a liquidation preference of $25,000 per share, will be redeemed at $1,000. This does not include the previously declared dividend of $10.12813 per share, payable to holders of record on the redemption date. Following the redemption, the shares will no longer be deemed outstanding, and dividends will cease to accrue.

The Eaton Vance Floating-Rate Income Plus Fund (NYSE: EFF) has announced a plan for liquidation and termination, subject to shareholder approval at the annual meeting on May 14, 2021. The Board has recommended voting for this plan. Following Morgan Stanley's acquisition of Eaton Vance Corp on March 1, 2021, a new investment advisory agreement was not approved, necessitating an interim agreement for fund management. Shareholders are encouraged to review the upcoming proxy statement from the SEC, which will contain further essential details about the liquidation process.

Eaton Vance Short Duration Diversified Income Fund (NYSE: EVG) announced a conditional cash tender offer for up to 25% of its outstanding shares at 99% of the net asset value. The tender offer is contingent upon shareholder approval of a new advisory agreement with Eaton Vance Management. If approved, the fund plans to increase its monthly distribution rate to an annual 10% of net asset value, a 45% increase from the current $0.075 per share. A special shareholder meeting is set for May 7, 2021, to vote on the advisory agreement.

Franck Petitgas, Head of Morgan Stanley International, is set to speak at the 17th Annual Morgan Stanley European Financials Conference on March 17, 2021, at 11:00 a.m. GMT (7:00 a.m. ET). The conference will be held virtually, and both live and on-demand webcasts will be accessible through the Investor Relations section of Morgan Stanley's website. Morgan Stanley (NYSE: MS) is a global financial services firm offering investment banking, securities, and wealth management services across 41 countries.