Morgan Stanley Asia-Pacific Fund, Inc. Announces Change of Investment Strategy, Benchmark and Portfolio Manager

NEW YORK--(BUSINESS WIRE)--

Morgan Stanley Asia-Pacific Fund, Inc. APF (the “Fund”) announced today that the Board has approved changing the Fund's investment strategy such that the Fund will continue to seek long-term capital appreciation through Investments primarily in equity securities of Asian-Pacific issuers and in sovereign debt, but will no longer invest in equity securities of issuers located in Japan (the “New Investment Strategy”). The repositioning of the Fund's portfolio in connection with this change in the Fund's investment strategy could result in the realization of taxable capital gains. Also in connection with this change, the Board approved changing the Fund's benchmark from the MSCI All Country Asia Pacific Index to the MSCI All Country Asia Pacific ex Japan Index. Following the implementation of the New Investment Strategy, the portfolio management team will change as Arthur Pollock will no longer be involved in the management of the Fund and Munib Madni, Samuel Rhee and May Yu will continue to be responsible for the day-to-day portfolio management of the Fund.

In connection with the New Investment Strategy, the Fund may also invest in futures contracts. A futures contract is a standardized, exchange-traded agreement to buy or sell a specific quantity of an underlying instrument at a specific price at a specific future time. A decision to use futures contracts involves the exercise of skill and judgment and even a well-conceived futures transaction may be unsuccessful because of market behavior or unexpected events. In addition, the prices of futures contracts can be highly volatile, using futures contracts can lower total return, the potential loss can exceed the Fund's initial investment in such contracts and there is no assurance that a liquid market will exist at any particular time.

The Fund is a closed-end management investment company seeking to achieve long-term capital appreciation through investments primarily in equity securities of Asian-Pacific issuers and in debt securities issued or guaranteed by Asian-Pacific governments or governmental entities.

Morgan Stanley Investment Management, together with its investment advisory affiliates, has over 560 investment professionals around the world and $360 billion in assets under management or supervision as of September 30, 2013. 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.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,200 offices in 43 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.

Some of the information contained in this press release may include forward-looking statements about the expected investment activities of the Fund. These statements provide no assurance as to the Fund's actual investment activities or results and forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time.

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.