In plain terms — Morgan Stanley India Investment Fund
Shares currently cost about 11.2% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 11.1% discount, so today's level is somewhat wide for this fund (Z-score -1.6). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 9.1% a year of the share price (8.1% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.13 of assets — a ReinvestCapture™ rate of 10.2%, more than the payout rate itself. That is buying power, not a return.
The assets themselves fell 13.1% over the past year including distributions (NAV total return).
Guided view hides the statistical panels. Switch to Expert view in the grey bar to see them. Nothing here is advice.
Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -11.52% | 0.75% | -1.31 | 55 |
| 6 months | -11.41% | 0.66% | -1.65 | 107 |
| 1 year | -11.14% | 0.84% | -1.63 | 205 |
| 3 years | -14.44% | — | — | — |
| 5 years | -15.65% | — | — | — |
Current contemporaneous premium/discount -12.50% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -13.65% to -8.76%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -4.69% | -6.65% | -14.57% | -19.77% | -1.44% | -5.46% |
| Market price total return | -4.69% | -6.65% | -14.57% | -13.53% | +9.24% | +4.98% |
| NAV return | -3.35% | -3.38% | -12.00% | -18.84% | -4.01% | -5.67% |
| NAV total return | -3.35% | -3.38% | -12.00% | -13.10% | +4.42% | +2.44% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
The Morgan Stanley India Investment Fund, Inc. is a U.S.-domiciled, closed-end equity mutual fund that began operations on December 22, 1993. It was initially established and is primarily managed by Morgan Stanley Investment Management Inc., with co-management responsibilities shared with Morgan Stanley Investment Management Company. The fund's strategy involves investing in the public equity markets of India, specifically targeting shares of companies spanning a wide array of diversified sectors. Its financial performance is benchmarked against the U.S. dollar-adjusted BSE National Index.
CEF Explorer research page for Morgan Stanley India Investment Fund, Inc.. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.