摩根士丹利共同基金对Facebook押下重注_时事

摩根士丹利共同基金对Facebook押下重注

Still, the Morgan Stanley funds' large stakes raise questions about whether the firm's role as lead underwriter influenced decisions.

尽管如此，摩根士丹利管理的这些基金持有大量Facebook股票仍然令外界质疑，即该公司作为主承销商的身份是否影响了其投资决策。

A large investment bank that simultaneously buys and sells shares in any company 'is in this conflicted position,' said Frank Partnoy, a law professor at the University of San Diego who worked for Morgan Stanley in the 1990s. 'This time it didn't work out.'

圣迭戈大学(University of San Diego)法学教授帕特诺伊(Frank Partnoy)说，对于任何一家大型投行来说，只要它同时负责买卖任何一家公司的股票，它都会处于这种矛盾的境地，不过这次它没成功。帕特诺伊曾在上世纪90年代供职于摩根士丹利。

The funds span the $1.6 billion Focus Growth fund to the $2.5 million Institutional Global Advantage fund.

这八只基金规模迥异，其中既有资产高达16亿美元的Focus Growth fund，也有资产仅为250万美元的Institutional Global Advantage fund。

Morgan Stanley's funds don't appear to have violated Securities and Exchange Commission rules limiting investments in offerings underwritten by an affiliate. SEC rules allow bank-affiliated mutual funds to participate in offerings in which the bank's investment bankers are advising the company, as long as the fund managers don't buy more than 25% of the deal and they buy the shares from a different bank.