The Latin American Discovery Fund, Inc. (NYSE: LDF) (the “Fund”) is pleased to announce that its stockholders, at the Fund’s Special Meeting of Stockholders held on October 19, 2018, 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 2018 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 non-diversified, closed-end management investment company that seeks long-term capital appreciation through investments primarily in equity securities of Latin American issuers and by investing, from time to time, in debt securities issued or guaranteed by a Latin American government or governmental entity.
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 645 investment professionals around the world and $471 billion in assets under management or supervision as of September 30, 2018. 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 41 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181019005561/en/
Contacts:
800-231-2608
