Morgan Stanley Pathway Funds High Yield Fund NMFQS:THYUX

The fund will invest at least 80% of its net assets in USD-denominated high yield fixed income securities of corporate issuers rated below investment grade by two or more nationally recognized statistical rating organizations, or, if unrated, of equivalent quality as determined by the Sub-advisers. It may invest up to 20% of its assets in securities not denominated in USD, including securities of issuers located in emerging market foreign countries. The fund also may invest up to 20% of its assets in equity and equity-related securities.