-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, I0R+ho3Q1n9722Jg28H+PB1qLd0Uf7JRtuW7U1rebN6i5DjyevmQaWFYZ3xeqjE6 2AZOyi07fO5iMRCWGvCf5A== 0000950123-05-011533.txt : 20050927 0000950123-05-011533.hdr.sgml : 20050927 20050927112554 ACCESSION NUMBER: 0000950123-05-011533 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050731 FILED AS OF DATE: 20050927 DATE AS OF CHANGE: 20050927 EFFECTIVENESS DATE: 20050927 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MORGAN STANLEY QUALITY MUNICIPAL INVESTMENT TRUS CENTRAL INDEX KEY: 0000876982 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-06346 FILM NUMBER: 051104469 BUSINESS ADDRESS: STREET 1: C/O MORGAN STANLEY TRUST STREET 2: HARBORSIDE FINANCIAL CENTER, PLAZA TWO CITY: JERSEY CITY STATE: NJ ZIP: 07311 BUSINESS PHONE: (212) 869-6397 FORMER COMPANY: FORMER CONFORMED NAME: MORGAN STANLEY QUALITY MUNICIPAL INVESTMENT TRUST DATE OF NAME CHANGE: 20011220 FORMER COMPANY: FORMER CONFORMED NAME: MORGAN STANLEY DEAN WITTER QUALITY MUNICIPAL INVESTMENT TRUS DATE OF NAME CHANGE: 19981221 FORMER COMPANY: FORMER CONFORMED NAME: INTERCAPITAL QUALITY MUNICIPAL INVESTMENT TRUST DATE OF NAME CHANGE: 19920929 N-Q 1 y12388envq.txt FORM N-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: 811-06346 Morgan Stanley Quality Municipal Investment Trust (Exact name of registrant as specified in charter) 1221 Avenue of the Americas, New York, New York 10020 (Address of principal executive offices) (Zip code)
Ronald E. Robison 1221 Avenue of the Americas, New York, New York 10020 (Name and address of agent for service) Registrant's telephone number, including area code: 212-762-4000 Date of fiscal year end: October 31, 2005 Date of reporting period: July 31, 2005 ITEM 1. SCHEDULE OF INVESTMENTS. The Trust's schedule of investments as of the close of the reporting period prepared pursuant to Rule 12-12 of Regulation S-X is as follows: MORGAN STANLEY QUALITY MUNICIPAL INVESTMENT TRUST PORTFOLIO OF INVESTMENTS July 31, 2005 (unaudited)
PRINCIPAL AMOUNT IN COUPON MATURITY THOUSANDS RATE DATE VALUE - --------- ------ -------- ----------- TAX-EXEMPT MUNICIPAL BONDS (137.1%) General Obligation (20.4%) 4,000 North Slope Borough, Alaska, Ser 2000 B (MBIA) 0.00% 06/30/09 $ 3,496,760 3,000 California, Various Purpose Dtd 05/01/03 5.00 02/01/24 3,144,060 2,000 Los Angeles, California, Ser 2004 A (MBIA) 5.00 09/01/24 2,125,220 3,000 San Diego Unified School District, California, 2003 Ser E (FSA) 5.00 07/01/28 3,264,540 Florida State Board of Education, 6,890 Capital Outlay Refg Ser 2001 D 5.375 06/01/18 7,579,138 3,000 Capital Outlay Refg 2002 Ser C (MBIA) 5.00 06/01/20 3,208,470 7,000 New Jersey, 2001 Ser H++ 5.25 07/01/19 7,898,940 2,000 New York City, New York, 2005 Ser G 5.00 12/01/23 2,101,140 5,000 North Carolina, Public School Building Ser 1999 4.60 04/01/17 5,348,450 385 Oregon, Veterans' Welfare Ser 75 6.00 04/01/27 393,424 Pennsylvania, 1,000 First Ser 2003 RITES PA - 1112 A (MBIA) 6.997+++ 01/01/18 1,150,250 1,000 First Ser 2003 RITES PA - 1112 B (MBIA) 6.997+++ 01/01/19 1,188,390 2,000 Charleston County School District, South Carolina, Ser 2004 A 5.00 02/01/22 2,130,380 5,000 Aldine Independent School District, Texas, Bldg & Refg Ser 2001 5.00 02/15/26 5,174,650 -------- ----------- (PSF) 45,275 48,203,812 -------- ----------- Educational Facilities Revenue (5.7%) 1,585 Colorado Educational & Cultural Facilities Authority, Peak to Peak 5.25 08/15/34 1,696,204 Charter School Refg & Impr Ser 2004 (XLCA) 4,000 North Carolina Capital Facilities Finance Agency, Duke University 5.00 10/01/41 4,193,200 Ser A 1,200 University of North Carolina, Chapel Hill Ser 2003 5.00 12/01/24 1,272,168 1,000 Chattanooga Tennessee Health Educational & Housing Ref-CDFI 5.00 10/01/25 990,530 Phase I LLC Ser A 5,000 Texas State University, Ser 2000 (FSA) 5.50 03/15/20 5,385,950 -------- ----------- 12,785 13,538,052 -------- ----------- Electric Revenue (16.6%) 5,000 California Department of Water Resources, Power Supply Ser 2002 A 5.875 05/01/16 5,614,950 5,000 Colorado Springs, Colorado, Utilities Ser 2001 A 5.00 11/15/29 5,183,950 Municipal Electric Authority of Georgia, 2,000 Combustion Turbine Ser 2002 A (MBIA) 5.25 11/01/21 2,179,620 1,500 Combustion Turbine Ser 2002 A (MBIA) 5.25 11/01/22 1,634,715 1,700 Indiana Municipal Power Agency, 2004 Ser A (FGIC) 5.00 01/01/32 1,779,934 Long Island Power Authority, New York, 4,000 Ser 2003 B 5.25 06/01/13 4,380,720 2,000 Ser 2004 A (Ambac) 5.00 09/01/34 2,106,640 South Carolina Public Service Authority, 1,500 2002 Refg Ser A (FSA) 5.125 01/01/20 1,630,440 1,000 2002 Refg Ser A (FSA) 5.125 01/01/21 1,085,310 4,000 2003 Refg A (Ambac) 5.00 01/01/27 4,212,240 2,000 1997 Refg Ser A (MBIA) 5.00 01/01/29 2,082,680 2,000 San Antonio, Texas, Electric & Gas Ser 2005 5.00 02/01/25 2,113,880 1,000 Intermountain Power Agency, Utah, Refg 1996 Ser D 5.00 07/01/21 1,035,630 (Secondary FSA) 2,000 Grant County, Public Utilities District #2, Washington, Wanapum 2005 5.00 01/01/29 2,105,080 Ser A 2,000 Lewis County Public Utility District #1, Washington, Cowlitz Falls 5.00 10/01/22 2,115,260 -------- ----------- Refg Ser 2003 (MBIA) 36,700 39,261,049 -------- -----------
Hospital Revenue (10.8%) 3,000 Indiana Health Facilities Financing Authority, Community Health Ser 5.00 05/01/35 3,148,620 2005 A (Ambac) Maryland Health & Higher Educational Facilities Authority, 3,000 Medstar Health Refg Ser 2004 5.375 08/15/24 3,140,970 2,000 University of Maryland Medical Ser 2002 5.75 07/01/17 2,186,360 2,500 University of Maryland Medical Ser 2001 5.25 07/01/34 2,583,825 1,500 Kent Hospital Finance Authority, Michigan, Metropolitan Hospital 6.25 07/01/40 1,658,925 Ser 2005 A 3,000 Michigan State Hospital Financing Authority, McLaren Health Care 5.00 08/01/35 3,071,910 Ser C 3,000 Lorain County, Ohio, Catholic Healthcare Partners Ser 2001 A 5.75 10/01/18 3,272,670 1,150 Allegheny County Hospital Development Authority, Pennsylvania, 5.125 04/01/35 1,171,620 Ohio Valley General Hospital Ser 2005 A 5,000 Lehigh County General Purpose Authority, Pennsylvania, St Luke's 5.25 08/15/23 5,184,000 -------- ----------- Hospital of Bethlehem Ser 2003 24,150 25,418,900 -------- ----------- Industrial Development/Pollution Control Revenue (7.8%) Golden State Tob Securitization Corp, California, 3,000 Enhanced Asset Backed Ser A 2005 (WI) 5.00 06/01/29 3,129,450 4,000 Enhanced Asset Backed Ser A 2005 (WI) 5.00 06/01/45 4,110,560 3,500 Michigan Strategic Fund, Detroit Edison Co Ser 2001 C 5.45 09/01/29 3,675,035 2,000 New York State Energy Research & Development Authority, 10.943+++ 07/01/26 2,206,260 Brooklyn Union Gas Co 1991 Ser D (AMT) 5,000 Sabine River Authority, Texas, TXU Electric Co Refg Ser 2001 B 5.75 05/01/30 5,362,450 -------- ----------- (AMT) (Mandatory Tender 11/01/11) 17,500 18,483,755 -------- ----------- Mortgage Revenue - Multi-Family (2.6%) 5,795 Illinois Housing Development Authority, 1991 Ser A 8.25 07/01/16 6,021,005 -------- ----------- Mortgage Revenue - Single Family (1.1%) 420 Colorado Housing & Finance Authority, 2000 Ser D-2 (AMT) 6.90 04/01/29 430,571 560 District of Columbia Housing Finance Agency, GNMA Collateralized 7.10 12/01/24 561,949 Ser 1990 B (AMT) 1,500 Pennsylvania Housing Finance Agency, Ser 2000-70 A (AMT) 5.90 04/01/31 1,568,400 -------- ----------- 2,480 2,560,920 -------- ----------- Nursing & Health Related Facilities Revenue (0.7%) 1,500 New York State Dormitory Authority, Mental Health Ser 2003 B 5.25 02/15/17 1,622,700 -------- ----------- Public Facilities Revenue (5.7%) 2,000 Jefferson County, Alabama, School Ser 2004 A 5.50 01/01/22 2,181,280 5,000 Arizona School Facilities Board, School Impr Ser 2001 5.00 07/01/19 5,390,950 1,000 Phoenix Civic Improvement Corporation, Arizona, Phoenix Municipal 5.25 07/01/24 1,070,830 Courthouse Sr Lien Excise Tax Ser 1999 A 1,900 Jacksonville, Florida, Sales Tax Ser 2001 (Ambac) 5.50 10/01/18 2,097,543 1,000 Miami-Dade County, Florida, Obligation Cap App & Inc Sub Ser A 0.00 10/01/30 689,110 2,000 Pennsylvania Public School Building Authority, Philadelphia School 5.00 06/01/33 2,090,180 -------- ----------- District Ser 2003 (FSA) 12,900 13,519,893 -------- ----------- Resource Recovery Revenue (2.2%) 1,000 Glendale, Arizona, Industrial Development Authority, Refg 5.00 12/01/35 1,005,150 3,000 Northeast Maryland Waste Disposal Authority, Montgomery County 5.50 04/01/16 3,264,630 Ser 2003 (AMT) (Ambac) 900 Warren County Pollution Control Financing Authority, New Jersey, 6.60 12/01/07 911,457 -------- ----------- Warren Energy Resource Co Ltd Partnership Ser 1984 (MBIA) 4,900 5,181,237 -------- -----------
Transportation Facilities Revenue (25.2%) Alaska International Airports, 1,500 Ser 2002 B (Ambac) 5.75 10/01/18 1,690,560 1,500 Ser 2002 B (Ambac) 5.75 10/01/19 1,690,560 3,000 Metropolitan Washington Airports Authority, District of Columbia & 5.00 10/01/20 3,137,910 Virginia Ser 2004 C (FSA) (AMT) # 3,000 Atlanta, Georgia, Airport Ser 2004 J (FSA) 5.00 01/01/34 3,157,620 Georgia State Road & Tollway Authority, 10,000 Ser 2001 5.375 03/01/17 11,029,500 2,000 Ser 2004 5.00 10/01/22 2,141,300 3,000 Ser 2004 5.00 10/01/23 3,204,420 2,000 Chicago, Illinois, O' Hare Int'l Airport Third Lien Ser 2003 B-2 5.75 01/01/23 2,215,680 (AMT) (FSA) 2,000 Clark County, Nevada, Airport Sub Lien Ser 2004 A (AMT) (FGIC) 5.50 07/01/22 2,181,640 5,000 New Jersey Turnpike Authority, Ser 2003 A (Ambac) 5.00 01/01/30 5,258,450 Metropolitan Transportation Authority, New York, 3,000 State Service Contract Ser 2002 A (MBIA) 5.50 01/01/19 3,341,550 3,000 State Service Contract Refg Ser 2002 B (MBIA) 5.50 07/01/20 3,325,080 3,000 Triborough Bridge & Tunnel Authority, New York, Ser 2001 A 5.00 01/01/32 3,181,080 5,000 Pennsylvania Turnpike Commission, 2004 Ser A (Ambac) 5.00 12/01/34 5,280,400 5,000 Dallas-Fort Worth International Airport, Texas, Ser 2003 A (AMT) 5.375 11/01/22 5,353,000 (FSA) 3,000 Port of Seattle, Washington, Sub Lien Ser 1999 A (FGIC) 5.25 09/01/22 3,221,700 -------- ------------- 55,000 59,410,450 -------- ------------- Water & Sewer Revenue (29.0%) 1,920 Los Angeles Department of Water & Power, California, Water 2004 5.00 07/01/23 2,033,990 Ser C (MBIA) 4,000 Oxnard Financing Authority, California, Redwood Trunk Sewer & 5.00 06/01/29 4,223,440 Headworks Ser 2004 A (FGIC) 2,000 Martin County, Florida, Utilities Ser 2001 (FGIC) 5.00 10/01/26 2,094,940 8,000 Tampa Bay Water, Florida, Ser 2001 B (FGIC) 5.00 10/01/31 8,298,080 Louisville & Jefferson County Metropolitan Sewer District, Kentucky, 2,925 Ser 2001 A (MBIA) 5.375 05/15/20 3,210,539 3,075 Ser 2001 A (MBIA) 5.375 05/15/21 3,375,182 5,000 Ser 1999 A (FGIC) 5.75 05/15/33 5,498,250 2,925 Las Vegas Water District, Nevada, Impr and Refg Ser 2003 A 5.25 06/01/22 3,185,852 (FGIC) New York City Municipal Water Finance Authority, New York, 3,000 2003 Ser A 5.375 06/15/18 3,301,590 4,000 1998 Ser D (MBIA) 4.75 06/15/25 4,061,320 5,000 2002 Ser G (FSA) 5.00 06/15/34 5,181,150 7,500 Portland, Oregon, Sewer 2000 Ser A (FGIC) 5.75 08/01/19 8,344,349 Houston, Texas, 10,000 Combined Utility First Lien Refg 2004 Ser A (FGIC) 5.25 05/15/23 10,822,099 4,500 Combined Utility First Lien Refg 2004 Ser A (MBIA) 5.25 05/15/25 4,856,175 -------- ------------- 63,845 68,486,956 -------- ------------- Other Revenue (4.1%) 5,000 California Economic Recovery, Ser 2004 A 5.00 07/01/16 5,360,550 1,000 New Jersey Economic Development Authority, Cigarette Tax Ser 2004 5.75 06/15/34 1,066,840 2,000 New York City Transitional Finance Authority, New York, Refg 2003 5.50 11/01/26 2,205,620 Ser A ** 1,000 Tobacco Settlement Financing Corp, Asset Backed 5.625 06/01/37 1,055,750 -------- ------------- 9,000 9,688,760 -------- -------------
Refunded (5.2%) 7,000 Hawaii, Airports Second Ser of 1991 (AMT) (ETM) 6.90 07/01/12 8,073,520 990 Massachusetts Bay Transportation Authority, Assess 2000 Ser A 5.25 07/01/10+ 1,059,825 3,000 Salt Lake City, Utah, IHC Hospitals Inc Refg Ser 1991 (Ambac) (ETM) 10.985+++ 05/15/20 3,020,520 -------- ------------- 10,990 12,153,865 -------- ------------- 302,820 TOTAL TAX-EXEMPT MUNICIPAL BONDS (Cost $304,263,006) 323,551,354 -------- ------------- SHORT-TERM TAX-EXEMPT MUNICIPAL OBLIGATIONS (7.1%) 7,100 Illinois Financing Authority, Ser 2005 B (Demand 08/01/05) 2.30* 05/15/35 7,100,000 1,800 Missouri Health & Educational Authority, Washington University 2.33* 02/15/34 1,800,000 Ser 2004 A (Demand 08/01/05) 5,730 New York City Municipal Water Finance Authority, 2000 Ser C 2.23* 06/15/35 5,730,000 (Demand 08/01/05) 2,070 University of North Carolina, Hospitals at Chapel Hill Ser 2001 A 2.24* 02/15/31 2,070,000 -------- ------------- (Demand 08/01/05) 16,700 TOTAL SHORT-TERM TAX-EXEMPT MUNICIPAL OBLIGATIONS (Cost $16,700,000) 16,700,000 -------- ------------- $319,520 TOTAL INVESTMENTS (Cost $320,963,006) (a) (b) 144.2% 340,251,354 ======== OTHER ASSETS IN EXCESS OF LIABILITIES 0.4 832,765 PREFERRED SHARES OF BENEFICIAL INTEREST (44.6) (105,171,493) ------ ------------- NET ASSETS APPLICABLE TO COMMON SHAREHOLDERS 100.0% $ 235,912,626 ====== =============
- ---------- Note: The categories of investments are shown as a percentage of net assets applicable to common shareholders. AMT Alternative Minimum Tax. ETM Escrowed to maturity. PSF Texas Permanent School Fund Guarantee Program. RITES Residual Interest Tax-Exempt Securities (Illiquid Securities). WI Security purchased on a when-issued basis. # Joint exemption in locations shown. + Prerefunded to call date shown. ++ A portion of this security has been physically segregated in connection with open futures contracts in the amount of $48,000. +++ Current coupon rate for inverse floating rate municipal obligations. This rate resets periodically as the auction rate on the related security changes. Positions in inverse floating rate municipal obligations have a total value of $7,565,420, which represents 3.2% of net assets applicable to common shareholders. * Current coupon of variable rate demand obligation. ** Currently a 5.50% coupon security: will convert to 14.00% on November 1, 2011. (a) Securities have been designated as collateral in an amount equal to $15,949,416 in connection with the open futures contracts and securities purchased on a when-issued basis. (b) The aggregate cost for federal income tax purposes is $320,963,006. The aggregate gross unrealized appreciation is $19,338,354 and the aggregate gross unrealized depreciation is $50,006, resulting in net unrealized appreciation of $19,288,348. Bond Insurance: - --------------- Ambac Ambac Assurance Corporation. FGIC Financial Guaranty Insurance Company. FSA Financial Security Assurance Inc. MBIA Municipal Bond Investors Assurance Corporation. XLCA XL Capital Corporation. Futures Contracts Open at July 31, 2005:
NUMBER OF DESCRIPTION, DELIVERY UNDERLYING FACE UNREALIZED CONTRACTS LONG/SHORT MONTH AND YEAR AMOUNT AT VALUE DEPRECIATION - --------- ---------- -------------------------------- --------------- ------------ 60 Short U.S. Treasury Notes 5 Year September/2005 $(6,432,188) $ (96,259) 20 Short U.S. Treasury Notes 10 Year September/2005 (2,219,688) (29,742) --------- Total unrealized depreciation... $(126,001) =========
GEOGRAPHIC SUMMARY OF INVESTMENTS Based on Market Value as a Percent of Total Investments July 31, 2005 (unaudited) Alabama 0.6% Alaska 2.0 Arizona 2.2 California 9.7 Colorado 2.1 Dist of Columbia 1.1 Florida 7.0 Georgia 6.9 Hawaii 2.4 Illinois 4.5 Indiana 1.4 Kentucky 3.5 Maryland 3.3 Massachusetts 0.3 Michigan 2.5 Missouri 0.5 Nevada 1.6 New Jersey 4.4 New York 12.6 North Carolina 3.8 Ohio 1.0 Oregon 2.6 Pennsylvania 5.2 South Carolina 3.3 Tennessee 0.3 Texas 11.5 Utah 1.2 Virginia 0.3 Washington 2.2 ----- Total+....... 100.0% =====
- ---------- * Joint exemptions have been included in each geographic location. + Does not include open short futures contracts with an underlying face amount of $8,651,876 with unrealized depreciation of $126,001. ITEM 2. CONTROLS AND PROCEDURES. (a) The Trust's principal executive officer and principal financial officer have concluded that the Trust's disclosure controls and procedures are sufficient to ensure that information required to be disclosed by the Trust in this Form N-Q was recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms, based upon such officers' evaluation of these controls and procedures as of a date within 90 days of the filing date of the report. (b) There were no changes in the Trust's internal control over financial reporting that occurred during the registrant's fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trust's internal control over financial reporting. ITEM 3. EXHIBITS. (a) A separate certification for each principal executive officer and principal financial officer of the registrant are attached hereto. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Morgan Stanley Quality Municipal Investment Trust /s/ Ronald E. Robison - ---------------------------------------- Ronald E. Robison Principal Executive Officer September 20, 2005 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates indicated. /s/ Ronald E. Robison - ---------------------------------------- Ronald E. Robison Principal Executive Officer September 20, 2005 /s/ Francis Smith - ---------------------------------------- Francis Smith Principal Financial Officer September 20, 2005 3 EX-99.CERT 2 y12388eexv99wcert.txt CERTIFICATION EXHIBIT 3 A1 CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER I, Ronald E. Robison, certify that: 1. I have reviewed this report on Form N-Q of Morgan Stanley Quality Municipal Investment Trust; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Omitted; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: September 20, 2005 /s/ Ronald E. Robison ------------------------------------- Ronald E. Robison Principal Executive Officer 4 EXHIBIT 3 A2 CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER I, Francis Smith, certify that: 1. I have reviewed this report on Form N-Q of Morgan Stanley Quality Municipal Investment Trust; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Omitted; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: September 20, 2005 /s/ Francis Smith ------------------------------------- Francis Smith Principal Financial Officer 5 -----END PRIVACY-ENHANCED MESSAGE-----