Investing in the Global Investment Industry

Morgan stanley was the creator of a variety of different types of index funds. The precursor was a prodocal oppals that traded in europe and ten a. Morgi stanley and anos created somethin called webs, which is the precursors of the eye shares for international market. Ino ieshares became, i a huge pile of black rock, an ungreat investment opportunity. But we felt that theya, they really didn't belong under one roof. And therefore you needed to make a choice as to whether you go into the principal route, or you went into the agency path.