NEW YORK--(BUSINESS WIRE)-- The Turkish Investment Fund, Inc. (NYSE: TKF) (the “Fund”) is pleased to announce that its stockholders, at the Fund’s Special Meeting of Stockholders held on November 16, 2017, approved the plan of liquidation and dissolution (the “Plan”) recommended by the Board of Directors. In accordance with the Plan, the Fund’s investment adviser, Morgan Stanley Investment Management Inc., will commence the orderly liquidation of the Fund’s assets. The Fund will make one or more liquidating distributions to the Fund’s stockholders, which will be paid in cash.
It is currently anticipated that by the end of the fourth quarter of 2017 the liquidation will be completed and the Fund’s shares of common stock will cease to trade on the New York Stock Exchange. The Fund is a closed-end, U.S.-registered management investment company and seeks long-term capital appreciation through investments primarily in equity securities of Turkish corporations.
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 581 investment professionals around the world and $447 billion in assets under management or supervision as of September 30, 2017. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful under the securities laws of any such state.
Investing involves risk and it is possible to lose money on any investment in the Fund.
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The Turkish Investment Fund, Inc.
Source: The Turkish Investment Fund, Inc.