Morgan Stanley Investment Management has launched a new high-quality equity fund, managed by Christian Derold.

The Morgan Stanley Investment Funds Global Quality Fund will invest in high-quality companies which have strong brands and distribution networks, the firm said in a statement.

“By investing in high-quality companies with an inherent economic robustness, we aim to deliver returns to investors at a time when they need them most, during difficult and challenging market environments. Investing over the long term allows us to realise value through the steady growth of quality companies over time,” said Derold.

In July, Morgan Stanley, which has recently sold off part of its non-US wealth arm, reported that pre-tax income from continuing wealth management operations soared 60 per cent to $655 million at the end of June 2013, up from $410 million a year ago. During this year's second quarter, pre-tax income rose 10 per cent from $597 million.

Morgan Stanley Investment Management, together with its investment advisory affiliates, has over 550 investment professionals around the world and $347 billion in assets under management or supervision as of 30 June 2013.