Morgan Stanley Wealth Management Expands Access to Private Markets and Alternatives with PMAX - Balanced and PMAX - Growth Funds
Morgan Stanley Wealth Management announced that it has expanded access to the Morgan Stanley Private Markets and Alternatives Fund ("PMAX") by registering it as PMAX - Balanced. This change removes the accredited investor requirement, lowers minimum investment amounts, and introduces daily subscriptions, making private market strategies accessible to a broader range of clients through a simplified, professionally managed investment vehicle.
Morgan Stanley Wealth Management is also adding to its PMAX product suite with the launch of PMAX - Growth, a fund with a growth-focused allocation, and plans to introduce additional strategies with targeted investment objectives.
Historically, access to private markets was primarily limited to institutions and ultra-high-net-worth investors, but the PMAX fund platform now broadens access to institutional-quality private market investment managers for more clients.
This expansion comes as private markets continue to gain momentum. Global Alternatives AUM is expected to exceed $30 trillion in 2030, up from less than $10 trillion a decade ago, driven by companies staying private longer and increasing investor demand for opportunities beyond public markets.1 Over the same period, the number of public companies has declined significantly, while 84% of companies generating $100 million or more in revenue remain private.2
