CORRESP 1 filename1.htm

 

Morgan Stanley Variable Investment Series

522 Fifth Avenue

New York, NY 10036

 

March 30, 2010

 

Securities and Exchange Commission

Judiciary Plaza

100 F Street, NE

Washington, D.C.  20549

Attention:  Michael L. Kosoff

 

Re:                             Morgan Stanley Variable Investment Series

(File No. 002-82510; 811-03692)

 

Dear Mr. Kosoff:

 

In response to your oral comments on March 24, 2010, below please find the fee tables and corresponding footnotes for each portfolio of Morgan Stanley Variable Investment Series.

 

FEE TABLES:

 

Aggressive Equity Portfolio

 

Class X:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.67

%

Distribution and service (12b-1) fees

 

None

 

Other expenses

 

0.35

%

Total annual Portfolio operating expenses

 

1.02

%

 

Class Y:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.67

%

Distribution and service (12b-1) fees

 

0.25

%

Other expenses

 

0.35

%

Total annual Portfolio operating expenses

 

1.27

%

 

Capital Opportunities Portfolio

 

Class X:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.42

%

Distribution and service (12b-1) fees

 

None

 

Other expenses

 

0.13

%

Total annual Portfolio operating expenses

 

0.55

%

 

Class Y:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.42

%

Distribution and service (12b-1) fees

 

0.25

%

Other expenses

 

0.13

%

Total annual Portfolio operating expenses

 

0.80

%

 

Dividend Growth Portfolio

 

Class X:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.54

%

Distribution and service (12b-1) fees

 

None

 

Other expenses

 

0.13

%

Total annual Portfolio operating expenses

 

0.67

%

 



 

Class Y:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.54

%

Distribution and service (12b-1) fees

 

0.25

%

Other expenses

 

0.13

%

Total annual Portfolio operating expenses

 

0.92

%

 

European Equity Portfolio

 

Class X:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.87

%

Distribution and service (12b-1) fees

 

None

 

Other expenses

 

0.25

%

Total annual Portfolio operating expenses*

 

1.12

%

Fee waiver and/or expense reimbursement*

 

0.12

%

Total annual Portfolio operating expenses after fee waiver and/or expense reimbursement*

 

1.00

%

 


*            The Portfolio’s “Investment Adviser,” Morgan Stanley Investment Advisors Inc., is currently waiving or reimbursing all or a portion of the Portfolio’s advisory fees and/or other expenses (excluding brokerage fees). The fee waivers and/or expense reimbursements are expected to continue (such that the Total annual Portfolio operating expenses after fee waiver and/or expense reimbursement do not exceed those amounts listed above) until such time that the Fund’s Board of Trustees acts to discontinue such waivers and/or reimbursements when it deems such action is appropriate.

 

Class Y:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.87

%

Distribution and service (12b-1) fees

 

0.25

%

Other expenses

 

0.25

%

Total annual Portfolio operating expenses*

 

1.37

%

Fee waiver and/or expense reimbursement*

 

0.12

%

Total annual Portfolio operating expenses after fee waiver and/or expense reimbursement*

 

1.25

%

 


*            The Portfolio’s “Investment Adviser,” Morgan Stanley Investment Advisors Inc., is currently waiving or reimbursing all or a portion of the Portfolio’s advisory fees and/or other expenses (excluding distribution and service (12b-1) fees and brokerage fees). The fee waivers and/or expense reimbursements are expected to continue (such that the Total annual Portfolio operating expenses after fee waiver and/or expense reimbursement do not exceed those amounts listed above) until such time that the Fund’s Board of Trustees acts to discontinue such waivers and/or reimbursements when it deems such action is appropriate.

 

Global Dividend Growth Portfolio

 

Class X:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.67

%

Distribution and service (12b-1) fees

 

None

 

Other expenses

 

0.26

%

Total annual Portfolio operating expenses

 

0.93

%

 

Class Y:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.67

%

Distribution and service (12b-1) fees

 

0.25

%

Other expenses

 

0.26

%

Total annual Portfolio operating expenses

 

1.18

%

 

Global Infrastructure Portfolio

 

Class X:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.57

%

Distribution and service (12b-1) fees

 

None

 

Other expenses

 

0.39

%

Total annual Portfolio operating expenses

 

0.96

%

 

Class Y:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.57

%

Distribution and service (12b-1) fees

 

0.25

%

Other expenses

 

0.39

%

Total annual Portfolio operating expenses

 

1.21

%

 

High Yield Portfolio

 

Class X:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.42

%

Distribution and service (12b-1) fees

 

None

 

Other expenses

 

1.33

%

Total annual Portfolio operating expenses

 

1.75

%

 

Class Y:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.42

%

Distribution and service (12b-1) fees

 

0.25

%

Other expenses

 

1.33

%

Total annual Portfolio operating expenses

 

2.00

%

 



 

Income Builder Portfolio

 

Class X:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.67

%

Distribution and service (12b-1) fees

 

None

 

Other expenses

 

0.35

%

Total annual Portfolio operating expenses

 

1.02

%

 

Class Y:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.67

%

Distribution and service (12b-1) fees

 

0.25

%

Other expenses

 

0.35

%

Total annual Portfolio operating expenses

 

1.27

%

 

Income Plus Portfolio

 

Class X:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.42

%

Distribution and service (12b-1) fees

 

None

 

Other expenses

 

0.14

%

Total annual Portfolio operating expenses

 

0.56

%

 

Class Y:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.42

%

Distribution and service (12b-1) fees

 

0.25

%

Other expenses

 

0.14

%

Total annual Portfolio operating expenses

 

0.81

%

 

Limited Duration Portfolio

 

Class X:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.30

%

Distribution and service (12b-1) fees

 

None

 

Other expenses

 

0.19

%

Total annual Portfolio operating expenses

 

0.49

%

 

Class Y:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.30

%

Distribution and service (12b-1) fees

 

0.25

%

Other expenses

 

0.19

%

Total annual Portfolio operating expenses

 

0.74

%

 

Money Market Portfolio

 

Class X:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.45

%

Distribution and service (12b-1) fees

 

None

 

Other expenses

 

0.11

%

Total annual Portfolio operating expenses*

 

0.56

%

Fee waiver and/or expense reimbursement*

 

0.19

%

Total annual Portfolio operating expenses after fee waiver and/or expense reimbursement*

 

0.37

%

 


*            The Portfolio’s “Investment Adviser,” Morgan Stanley Investment Advisors Inc., is currently waiving or reimbursing all or a portion of the Portfolio’s advisory fees and/or other expenses to the extent that total expenses exceed total income on a daily basis. The fee waivers and/or expense reimbursements are expected to continue until such time as the Fund’s Board of Trustees acts to discontinue all or a portion of such waivers and/or expense reimbursements when it deems such action is appropriate.

 

Class Y:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.45

%

Distribution and service (12b-1) fees

 

0.25

%

Other expenses

 

0.11

%

Total annual Portfolio operating expenses*

 

0.81

%

Fee waiver and/or expense reimbursement*

 

0.43

%

Total annual Portfolio operating expenses after fee waiver and/or expense reimbursement*

 

0.38

%

 


*            The Portfolio’s “Investment Adviser,” Morgan Stanley Investment Advisors Inc., is currently waiving or reimbursing all or a portion of the Portfolio’s advisory fees and/or other expenses to the extent that total expenses exceed total income on a daily basis. The fee waivers and/or expense reimbursements are expected to continue until such time as the Fund’s Board of Trustees acts to discontinue all or a portion of such waivers and/or expense reimbursements when it deems such action is appropriate.

 

S&P 500 Index Portfolio

 

Class X:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.12

%

Distribution and service (12b-1) fees

 

None

 

Other expenses

 

0.16

%

Total annual Portfolio operating expenses

 

0.28

%

 



 

Class Y:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.12

%

Distribution and service (12b-1) fees

 

0.25

%

Other expenses

 

0.16

%

Total annual Portfolio operating expenses

 

0.53

%

 

Strategist Portfolio

 

Class X:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.42

%

Distribution and service (12b-1) fees

 

None

 

Other expenses

 

0.16

%

Total annual Portfolio operating expenses

 

0.58

%

 

Class Y:

 

Annual Portfolio Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)

 

Advisory fee

 

0.42

%

Distribution and service (12b-1) fees

 

0.25

%

Other expenses

 

0.16

%

Total annual Portfolio operating expenses

 

0.83

%

 

If you would like to discuss this matter in further detail or if you have any questions, please feel free to contact me at (212) 296-6989 (tel) or (646) 290.2042 (fax).  Thank you.

 

 

Best regards,

 

 

/s/ Sheri Schreck

 

Sheri Schreck