Fund Name Morgan Stanley Liquidity Funds-Sterling Liquidity Fund Type Short-Term LVNAV MMF Reporting Currency GBP Statement Date 17-Sep-21 WAM (days) 53 WAL (days) 57 Net Assets 7,516,279,145.70

Final Sponsor Sponsor Sponsor Coupon Coupon Days to Maturity CUSIP ISIN Security Description Moody's S&P Fitch Security Type Industry Classification Sponsor Moody's S&P Fitch Currency Par Value Rate Type % Country Maturity (1) Date (2) XS2384534371 ABN AMRO BANK P-1 A-1 F1 COMMERCIAL PAPER FINANCIAL GBP 100,000,000 1.33% NETHERLANDS 107 4-Jan-22 FR0126775156 AGENCE CENTRALE DES ORGANISMES P-1 A-1+ F1+ COMMERCIAL PAPER GOVERNMENT GBP 25,000,000 0.33% FRANCE 1 20-Sep-21 FR0126989500 AGENCE CENTRALE DES ORGANISMES P-1 A-1+ F1+ COMMERCIAL PAPER GOVERNMENT GBP 65,000,000 0.86% FRANCE 116 13-Jan-22 XS2359297756 AGENCE CENTRALE DES ORGANISMES P-1 A-1+ F1+ COMMERCIAL PAPER GOVERNMENT GBP 50,000,000 0.67% FRANCE 187 25-Mar-22 XS2381291686 AGENCE CENTRALE DES ORGANISMES P-1 A-1+ F1+ COMMERCIAL PAPER GOVERNMENT GBP 25,000,000 0.33% FRANCE 193 31-Mar-22 XS2346310043 BANK PLC P-1 A-1 F1 COMMERCIAL PAPER FINANCIAL GBP 50,000,000 0.67% UNITED KINGDOM 1 20-Sep-21 XS2357178164 BARCLAYS BANK PLC P-1 A-1 F1 COMMERCIAL PAPER FINANCIAL GBP 20,000,000 0.27% UNITED KINGDOM 15 4-Oct-21 XS2378471051 BARCLAYS BANK PLC P-1 A-1 F1 COMMERCIAL PAPER FINANCIAL GBP 50,000,000 0.67% UNITED KINGDOM 92 20-Dec-21 XS2386647726 BARCLAYS BANK PLC P-1 A-1 F1 COMMERCIAL PAPER FINANCIAL GBP 50,000,000 0.67% UNITED KINGDOM 113 10-Jan-22 FR0126988023 BRED BANQUE POPULAIRE P-1 A-1 F1 COMMERCIAL PAPER FINANCIAL GBP 50,000,000 0.67% FRANCE 54 12-Nov-21 FR0126989104 BRED BANQUE POPULAIRE P-1 A-1 F1 COMMERCIAL PAPER FINANCIAL GBP 75,000,000 1.00% FRANCE 59 17-Nov-21 XS2376018409 BANK AG P-1 A-1 F1 COMMERCIAL PAPER FINANCIAL GBP 30,500,000 0.41% 11 30-Sep-21 XS2382157654 ING BANK NV P-1 A-1 F1 COMMERCIAL PAPER FINANCIAL GBP 75,000,000 1.00% NETHERLANDS 162 28-Feb-22 XS2308592646 KREDITANSTALT FUR WIEDERAUFBAU P-1 A-1+ F1+ COMMERCIAL PAPER GOVERNMENT GBP 35,000,000 0.47% 12 1-Oct-21 XS2374117062 KREDITANSTALT FUR WIEDERAUFBAU P-1 A-1+ F1+ COMMERCIAL PAPER GOVERNMENT GBP 75,000,000 1.00% GERMANY 198 5-Apr-22 FR0126969239 NR A-1 F1 COMMERCIAL PAPER FINANCIAL GBP 50,000,000 0.67% FRANCE 107 4-Jan-22 FR0126971995 LA BANQUE POSTALE NR A-1 F1 COMMERCIAL PAPER FINANCIAL GBP 50,000,000 0.67% FRANCE 46 4-Nov-21 XS2352404755 LA BANQUE POSTALE NR A-1 F1 COMMERCIAL PAPER FINANCIAL GBP 100,000,000 1.33% FRANCE 18 7-Oct-21 XS2351317818 LANDESBANK BADEN-WURTTEMBERG P-1 A-1+ F1+ COMMERCIAL PAPER GOVERNMENT GBP 50,000,000 0.67% GERMANY 46 4-Nov-21 XS2387072007 LANDESBANK BADEN-WURTTEMBERG P-1 A-1+ F1+ COMMERCIAL PAPER GOVERNMENT GBP 50,000,000 0.67% GERMANY 172 10-Mar-22 XS2355519427 CORPORATE MARKETS P-1 A-1 F1 COMMERCIAL PAPER FINANCIAL GBP 13,000,000 0.17% UNITED KINGDOM 87 15-Dec-21 XS2346243939 MACQUARIE BANK LTD P-1 A-1 F1 COMMERCIAL PAPER FINANCIAL GBP 50,000,000 0.67% AUSTRALIA 1 20-Sep-21 XS2340225049 BANK AB P-1 A-1+ F1+ COMMERCIAL PAPER FINANCIAL GBP 50,000,000 0.67% FINLAND 47 5-Nov-21 FR0127005322 SOCIETE NATIONALE SNCF P-1 A-1+ F1+ COMMERCIAL PAPER INDUSTRIAL GBP 20,000,000 0.27% FRANCE 31 20-Oct-21 XS2343519745 AB P-1 A-1+ F1+ COMMERCIAL PAPER FINANCIAL GBP 50,000,000 0.67% SWEDEN 54 12-Nov-21 XS2368561192 SWEDBANK AB P-1 A-1+ F1+ COMMERCIAL PAPER FINANCIAL GBP 50,000,000 0.67% SWEDEN 64 22-Nov-21 XS2386976380 TOYOTA MOTOR FINANCE (NETHERLANDS) P-1 A-1+ F1 COMMERCIAL PAPER AUTOMOBILE GBP 95,000,000 1.26% JAPAN 5 24-Sep-21 XS2384721564 UNILEVER NV P-1 A-1 F1 COMMERCIAL PAPER CONSUMER PRODUCTS GBP 80,000,000 1.06% NETHERLANDS 113 10-Jan-22 COMMERCIAL PAPER Total 1,483,500,000 19.80% XS2366239981 COLLATERALIZED COMMERCIAL PAPER CO III P-1 A-1 NR ASSET BACKED COMMERCIAL PAPER FINANCIAL GBP 50,000,000 0.67% UNITED STATES 117 14-Jan-22 XS2367602948 COLLATERALIZED COMMERCIAL PAPER CO III P-1 A-1 NR ASSET BACKED COMMERCIAL PAPER FINANCIAL GBP 20,000,000 0.27% UNITED STATES 121 18-Jan-22 ASSET BACKED COMMERCIAL PAPER Total 70,000,000 0.94% XS2373619977 ABN AMRO BANK P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 100,000,000 1.33% NETHERLANDS 107 4-Jan-22 GB00BHLMHH99 BANK OF NOVA SCOTIA P-1 A-1 F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.08000 Fixed 0.67% CANADA 53 11-Nov-21 GB00BHMCF852 BANK OF NOVA SCOTIA P-1 A-1 F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 25,000,000 0.07000 Fixed 0.33% CANADA 16 5-Oct-21 GB00BHLMDK49 BARCLAYS BANK PLC P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.12000 Fixed 0.67% UNITED KINGDOM 75 3-Dec-21 GB00BHMCRT03 BARCLAYS BANK PLC P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.08000 Fixed 0.67% UNITED KINGDOM 37 26-Oct-21 GB00BHLLSH30 BNP PARIBAS P-1 A-1 F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 40,000,000 0.11000 Fixed 0.53% FRANCE 12 1-Oct-21 GB00BHLMD825 BNP PARIBAS P-1 A-1 F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 40,000,000 0.10000 Fixed 0.52% FRANCE 15 4-Oct-21 GB00BHMCCP12 BNP PARIBAS P-1 A-1 F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 30,000,000 0.08000 Fixed 0.40% FRANCE 15 4-Oct-21 GB00BHMCJ490 BNP PARIBAS P-1 A-1 F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 40,000,000 0.12000 Fixed 0.53% FRANCE 141 7-Feb-22 GB00BHMCWB71 BNP PARIBAS P-1 A-1 F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 25,000,000 0.09000 Fixed 0.33% FRANCE 78 6-Dec-21 GB00BHMD6F24 BNP PARIBAS P-1 A-1 F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.06000 Fixed 0.67% FRANCE 47 5-Nov-21 GB00BHMD7B50 BNP PARIBAS P-1 A-1 F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.07500 Fixed 0.66% FRANCE 74 2-Dec-21 XS2376223595 BNP PARIBAS P-1 A-1 F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 30,000,000 0.40% FRANCE 75 3-Dec-21 GB00BHLMBW21 COOPERATIEVE UA P-1 A-1 F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 10,000,000 0.10000 Fixed 0.13% NETHERLANDS 71 29-Nov-21 GB00BHMCCN97 COOPERATIEVE RABOBANK UA P-1 A-1 F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.10000 Fixed 0.67% NETHERLANDS 92 20-Dec-21 GB00BHLK8S16 CREDIT SUISSE AG P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 7,500,000 0.13000 Fixed 0.10% SWITZERLAND 38 27-Oct-21 XS2265101688 CREDIT SUISSE AG P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 25,000,000 0.33% SWITZERLAND 65 23-Nov-21 BE6328716483 EUROCLEAR BANK SA/NV NR A-1+ F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 20,000,000 0.27% BELGIUM 73 1-Dec-21 BE6328833684 EUROCLEAR BANK SA/NV NR A-1+ F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.67% BELGIUM 109 6-Jan-22 XS2332230775 GOLDMAN SACHS INTERNATIONAL BANK P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 25,000,000 0.33% UNITED STATES 23 12-Oct-21 XS2368865064 GOLDMAN SACHS INTERNATIONAL BANK P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.65% UNITED STATES 215 22-Apr-22 XS2370619772 GOLDMAN SACHS INTERNATIONAL BANK P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.65% UNITED STATES 221 28-Apr-22 XS2373048961 GOLDMAN SACHS INTERNATIONAL BANK P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.65% UNITED STATES 226 3-May-22 GB00BHLLCL57 ING BANK NV P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.09000 Fixed 0.67% NETHERLANDS 60 18-Nov-21 GB00BHLLRG57 ING BANK NV P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.10000 Fixed 0.67% NETHERLANDS 12 1-Oct-21 XS2362682176 MIZUHO BANK LTD P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 40,000,000 0.09000 Fixed 0.52% JAPAN 18 7-Oct-21 XS2364508999 MIZUHO BANK LTD P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.67% JAPAN 23 12-Oct-21 XS2377857201 MIZUHO BANK LTD P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.67% JAPAN 74 2-Dec-21 XS2379882991 MIZUHO BANK LTD P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 25,000,000 0.07000 Fixed 0.33% JAPAN 65 23-Nov-21 XS2382309180 MIZUHO BANK LTD P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 75,000,000 0.08000 Fixed 1.00% JAPAN 71 29-Nov-21 XS2387736106 MIZUHO BANK LTD P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 75,000,000 1.00% JAPAN 2 21-Sep-21 XS2331220256 LTD P-1 A-1+ F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.67% AUSTRALIA 19 8-Oct-21 XS2337299817 NATIONAL AUSTRALIA BANK LTD P-1 A-1+ F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.10000 Fixed 0.67% AUSTRALIA 36 25-Oct-21 GB00BHLM5757 NORDEA BANK AB P-1 A-1+ F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.10000 Fixed 0.66% FINLAND 71 29-Nov-21 GB00BHMCTC75 NORDEA BANK AB P-1 A-1+ F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 75,000,000 0.08000 Fixed 1.00% FINLAND 78 6-Dec-21 GB00BHMD7712 NORDEA BANK AB P-1 A-1+ F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.10000 Fixed 0.66% FINLAND 197 4-Apr-22 XS2301271586 NORDEA BANK AB P-1 A-1+ F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 25,000,000 0.10000 Fixed 0.33% FINLAND 148 14-Feb-22 XS2385889956 NORDEA BANK AB P-1 A-1+ F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.67% FINLAND 9 28-Sep-21 GB00BHLMCC99 SKANDINAVISKA ENSKILDA BANKEN AB P-1 A-1 F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.10000 Fixed 0.66% SWEDEN 73 1-Dec-21 GB00BHMD2762 SKANDINAVISKA ENSKILDA BANKEN AB P-1 A-1 F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.15000 Fixed 0.66% SWEDEN 243 20-May-22 GB00BHLK2D43 SOCIETE GENERALE P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 5,000,000 0.07% FRANCE 23 12-Oct-21 GB00BHLKCR86 SOCIETE GENERALE P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 15,000,000 0.12000 Fixed 0.20% FRANCE 47 5-Nov-21 GB00BHLKW563 SOCIETE GENERALE P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 15,000,000 0.12000 Fixed 0.20% FRANCE 92 20-Dec-21 GB00BHMD0Q19 SOCIETE GENERALE P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.08500 Fixed 0.66% FRANCE 88 16-Dec-21 GB00BHMD3H33 SOCIETE GENERALE P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.11000 Fixed 0.66% FRANCE 163 1-Mar-22 BE6329009508 SUMITOMO MITSUI BANKING CORPORATION P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.67% JAPAN 12 1-Oct-21 Final Sponsor Sponsor Sponsor Coupon Coupon Days to Maturity CUSIP ISIN Security Description Moody's S&P Fitch Security Type Industry Classification Bank Sponsor Moody's S&P Fitch Currency Par Value Rate Type % Country Maturity (1) Date (2) BE6329136806 SUMITOMO MITSUI BANKING CORPORATION P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.67% JAPAN 17 6-Oct-21 BE6329140840 SUMITOMO MITSUI BANKING CORPORATION P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.67% JAPAN 81 9-Dec-21 BE6329164113 SUMITOMO MITSUI BANKING CORPORATION P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.67% JAPAN 57 15-Nov-21 BE6329168155 SUMITOMO MITSUI BANKING CORPORATION P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.07000 Fixed 0.67% JAPAN 59 17-Nov-21 GB00BHLLZ838 SUMITOMO MITSUI BANKING CORPORATION P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.11000 Fixed 0.66% JAPAN 31 20-Oct-21 GB00BHLLV852 SUMITOMO MITSUI TRUST BANK LTD P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.11000 Fixed 0.66% JAPAN 18 7-Oct-21 GB00BHLM6169 SUMITOMO MITSUI TRUST BANK LTD P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.11500 Fixed 0.66% JAPAN 57 15-Nov-21 GB00BHMCGH18 SUMITOMO MITSUI TRUST BANK LTD P-1 A-1 F1 CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.11500 Fixed 0.66% JAPAN 107 4-Jan-22 GB00BHLLRS79 SVENSKA AB P-1 A-1+ F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 40,000,000 0.10500 Fixed 0.53% SWEDEN 12 1-Oct-21 GB00BHMCFW93 SVENSKA HANDELSBANKEN AB P-1 A-1+ F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 30,000,000 0.07500 Fixed 0.40% SWEDEN 24 13-Oct-21 GB00BHMCH346 SVENSKA HANDELSBANKEN AB P-1 A-1+ F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 10,000,000 0.09000 Fixed 0.13% SWEDEN 107 4-Jan-22 GB00BHLLDM30 TORONTO DOMINION BANK P-1 A-1+ F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 16,500,000 0.10000 Fixed 0.22% CANADA 95 23-Dec-21 GB00BHLLFV60 TORONTO DOMINION BANK P-1 A-1+ F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 10,000,000 0.10500 Fixed 0.13% CANADA 8 27-Sep-21 GB00BHLLMY84 TORONTO DOMINION BANK P-1 A-1+ F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 35,000,000 0.10000 Fixed 0.47% CANADA 1 20-Sep-21 GB00BHLLWS23 TORONTO DOMINION BANK P-1 A-1+ F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 25,000,000 0.10000 Fixed 0.33% CANADA 23 12-Oct-21 GB00BHMCS756 TORONTO DOMINION BANK P-1 A-1+ F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.18000 Fixed 0.66% CANADA 311 27-Jul-22 XS2344435008 TORONTO DOMINION BANK P-1 A-1+ F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.15090 Variable 0.67% CANADA 1 16-May-22 GB00BHLLWB55 UBS AG P-1 A-1 F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 25,000,000 0.16000 Fixed 0.33% SWITZERLAND 204 11-Apr-22 XS2271364130 UBS AG P-1 A-1 F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 10,000,000 0.13% SWITZERLAND 79 7-Dec-21 XS2305339892 UBS AG P-1 A-1 F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 20,000,000 0.09000 Fixed 0.27% SWITZERLAND 59 17-Nov-21 XS2357220115 UBS AG P-1 A-1 F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.15000 Fixed 0.67% SWITZERLAND 180 18-Mar-22 XS2361696698 UBS AG P-1 A-1 F1+ CERTIFICATE OF DEPOSIT FINANCIAL GBP 50,000,000 0.16000 Fixed 0.67% SWITZERLAND 194 1-Apr-22 CERTIFICATE OF DEPOSIT Total 2,789,000,000 37.06% C06156QD5 XS1696660320 BANK OF MONTREAL P-1 A-1 F1+ CORPORATE BOND FINANCIAL GBP 1,400,000 1.37500 Fixed 0.02% CANADA 101 29-Dec-21 XS1933956861 BANK NEDERLANDSE GEMEENTEN P-1 A-1+ F1+ CORPORATE BOND GOVERNMENT GBP 41,200,000 1.25000 Fixed 0.54% NETHERLANDS 87 15-Dec-21 XS1752894888 BANQUE FEDERATIVE DU CREDIT MUTUEL P-1 A-1 F1 CORPORATE BOND FINANCIAL GBP 12,000,000 1.37500 Fixed 0.16% FRANCE 92 20-Dec-21 Q2693DYQ8 XS1548960407 COMMONWEALTH BANK OF AUSTRALIA P-1 A-1+ F1+ CORPORATE BOND FINANCIAL GBP 9,266,000 1.12500 Fixed 0.12% AUSTRALIA 94 22-Dec-21 N7S88MBT2 XS1205680785 COOPERATIEVE RABOBANK UA P-1 A-1 F1+ CORPORATE BOND FINANCIAL GBP 17,582,000 2.25000 Fixed 0.24% NETHERLANDS 185 23-Mar-22 XS1936252748 COUNCIL OF EUROPE DEVELOPMENT P-1 A-1+ F1+ CORPORATE BOND GOVERNMENT GBP 2,450,000 1.12500 Fixed 0.03% EUROPE 179 17-Mar-22 XS1932958603 KREDITANSTALT FUR WIEDERAUFBAU P-1 A-1+ F1+ CORPORATE BOND GOVERNMENT GBP 4,712,000 1.12500 Fixed 0.06% GERMANY 79 7-Dec-21 Q6534X7D7 XS0472503589 NATIONAL AUSTRALIA BANK LTD P-1 A-1+ F1 CORPORATE BOND FINANCIAL GBP 10,692,000 5.12500 Fixed 0.14% AUSTRALIA 81 9-Dec-21 Q65336MU2 XS1517195118 NATIONAL AUSTRALIA BANK LTD P-1 A-1+ F1 CORPORATE BOND FINANCIAL GBP 30,369,000 1.12500 Fixed 0.40% AUSTRALIA 52 10-Nov-21 U64959AG1 XS1599141600 NEW YORK LIFE GLOBAL FUNDING P-1 A-1+ F1+ CORPORATE BOND FINANCIAL GBP 10,103,000 1.00000 Fixed 0.13% UNITED STATES 87 15-Dec-21 W6S318SX6 XS1241052346 NORDEA BANK AB P-1 A-1+ F1+ CORPORATE BOND FINANCIAL GBP 8,800,000 2.37500 Fixed 0.12% FINLAND 256 2-Jun-22 XS1622417290 OESTERREICHISCHE KONTROLLBANK AG P-1 A-1+ NR CORPORATE BOND GOVERNMENT GBP 3,000,000 0.75000 Fixed 0.04% AUSTRIA 169 7-Mar-22 XS1234804653 OP CORPORATE BANK PLC P-1 A-1+ NR CORPORATE BOND FINANCIAL GBP 4,200,000 2.50000 Fixed 0.06% FINLAND 243 20-May-22 XS1548415550 ROYAL BANK OF CANADA P-1 A-1+ F1+ CORPORATE BOND FINANCIAL GBP 61,967,000 1.12500 Fixed 0.83% CANADA 94 22-Dec-21 XS1900543577 STATE OF NORTH RHINE-WESTPHALIA P-1 A-1+ F1+ CORPORATE BOND GOVERNMENT GBP 162,800,000 0.13475 Variable 2.17% GERMANY 40 29-Oct-21 W9125A7Q0 XS1839146260 SVENSKA HANDELSBANKEN AB P-1 A-1+ F1+ CORPORATE BOND FINANCIAL GBP 11,000,000 1.62500 Fixed 0.15% SWEDEN 272 18-Jun-22 W94232XE5 XS1689549217 SWEDBANK AB P-1 A-1+ F1+ CORPORATE BOND FINANCIAL GBP 31,817,000 1.25000 Fixed 0.42% SWEDEN 101 29-Dec-21 CORPORATE BOND Total 423,358,000 5.63% XS1937637236 AUSTRALIA AND NEW ZEALAND BANKING P-1 A-1+ F1+ FLOATING RATE NOTE FINANCIAL GBP 23,300,000 0.73090 Variable 0.31% AUSTRALIA 1 24-Jan-22 XS1497746534 BANK OF NOVA SCOTIA P-1 A-1 F1+ FLOATING RATE NOTE FINANCIAL GBP 12,800,000 0.45788 Variable 0.17% CANADA 11 30-Sep-21 XS1190980927 EUROPEAN INVESTMENT BANK P-1 A-1+ F1+ FLOATING RATE NOTE GOVERNMENT GBP 23,754,000 0.13813 Variable 0.32% EUROPE 60 18-Feb-22 XS1933001031 EUROPEAN INVESTMENT BANK P-1 A-1+ F1+ FLOATING RATE NOTE GOVERNMENT GBP 22,930,000 0.33090 Variable 0.31% EUROPE 1 10-Jan-22 XS2235974164 ROYAL BANK OF CANADA P-1 A-1+ F1+ FLOATING RATE NOTE FINANCIAL GBP 27,500,000 1.04990 Variable 0.37% CANADA 1 23-Sep-21 XS2289797677 ROYAL BANK OF CANADA P-1 A-1+ F1+ FLOATING RATE NOTE FINANCIAL GBP 23,200,000 1.04990 Variable 0.31% CANADA 1 25-Jan-22 XS2369570630 ROYAL BANK OF CANADA P-1 A-1+ F1+ FLOATING RATE NOTE FINANCIAL GBP 22,500,000 1.05024 Variable 0.30% CANADA 47 5-Aug-22 FLOATING RATE NOTE Total 155,984,000 2.09% GB00BHLMC520 GOVERNMENT OF THE UNITED KINGDOM P-1 A-1+ F1+ TREASURY BILL GOVERNMENT GBP 100,000,000 1.33% UNITED KINGDOM 78 6-Dec-21 TREASURY BILL Total 100,000,000 1.33% BRED BANQUE POPULAIRE P-1 A-1 F1 TIME DEPOSIT FINANCIAL GBP 350,021,576 0.05000 Fixed 4.66% FRANCE 1 20-Sep-21 COMMONWEALTH BANK OF AUSTRALIA P-1 A-1+ F1+ TIME DEPOSIT FINANCIAL GBP 350,509,623 0.10000 Fixed 4.66% AUSTRALIA 1 20-Sep-21 COOPERATIEVE RABOBANK UA P-1 A-1 F1+ TIME DEPOSIT FINANCIAL GBP 400,040,994 0.05000 Fixed 5.32% NETHERLANDS 1 20-Sep-21 MIZUHO BANK LTD P-1 A-1 F1 TIME DEPOSIT FINANCIAL GBP 354,248,438 0.05000 Fixed 4.71% JAPAN 1 20-Sep-21 SUMITOMO MITSUI TRUST BANK LTD P-1 A-1 F1 TIME DEPOSIT FINANCIAL GBP 300,058,861 0.04000 Fixed 3.99% JAPAN 1 20-Sep-21 TIME DEPOSIT Total 1,754,879,492 23.34% CANADIAN IMPERIAL BANK OF COMM P-1 A-1 F1+ TRI-PARTY REPO FINANCIAL GBP 350,000,000 0.04000 Fixed 4.66% CANADA 1 20-Sep-21 NATIONAL AUSTRALIA BANK LTD P-1 A-1+ F1 TRI-PARTY REPO FINANCIAL GBP 350,000,000 0.04000 Fixed 4.66% AUSTRALIA 1 20-Sep-21 TRI-PARTY REPO Total 700,000,000 9.32% CASH CASH CASH GBP 36,637,542 0.49% 1 Cash 36,637,542 0.49%

Low Volatility Net Asset Value MMF (LVNAV) - a Money Market Fund qualifying and authorised as a LVNAV Money Market Fund in accordance with MMF Regulation which seeks to maintain a stable NAV under the condition that the stable NAV does not deviate from the Net Asset Value per Share by more than 20 basis points. In case of a deviation of more than 20 basis points between the stable NAV and the Net Asset Value per Share, the following redemption or issue of Shares shall be undertaken at a price that is equal to the Net Asset Value per Share. Ratings followed by an "i" are implied. Ratings are implied when no short-term rating is assigned by the rating agency. Note: WAM and WAL (days) are based as of the trading date whereas Days to Maturity and Final Maturity Date are based as of the settlement date. Note 1: Days to Maturity includes up to the first reset date if/where applicable (WAM use). Note 2: Final Maturity Date represents the final/legal maturity (WAL use). Note 3: Daily Holdings reports are available upon request from your Relationship Manager.

Contact Details: Telephone Number: +44 (0) 207 425 0440 Email: [email protected] Website: www.morganstanley.com/liquidity