As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 4/01/24  Morgan Stanley Inst’l Fund Trust  497         4/01/24    1:17K                                    Toppan Merrill/FA
          → Corporate Bond Portfolio ⇒ Class A Shares (MIGAX) — Class C (MSBOX) — Class I Shares (MPFDX) — Class L Shares (MGILX)
          → Discovery Portfolio ⇒ Class A Shares (MACGX) — Class C (MSMFX) — Class I Shares (MPEGX) — Class L (MSKLX) — Class R6 (MMCGX)
          → Dynamic Value Portfolio ⇒ Class A (MAAUX) — Class C (MAAOX) — Class I (MAAQX) — Class R6 (MAADX)
          → Global Strategist Portfolio ⇒ Class A Shares (MBAAX) — Class C (MSSOX) — Class I Shares (MPBAX) — Class L (MSDLX) — Class R6 (MGPOX)
          → High Yield Portfolio ⇒ Class A (MSYPX) — Class C (MSHDX) — Class I (MSYIX) — Class IR (MRHYX) — Class L (MSYLX) — Class R6 (MSHYX)

Document/Exhibit                   Description                      Pages   Size 

 1: 497         Definitive Material                                 HTML     13K 

Prospectus Supplement

April 1, 2024

Morgan Stanley Institutional Fund Trust

Supplement dated April 1, 2024, to the Morgan Stanley Institutional Fund Trust Prospectuses dated January 28, 2024

Corporate Bond Portfolio
Discovery Portfolio
Dynamic Value Portfolio
Global Strategist Portfolio
High Yield Portfolio
(the "Funds")

Effective immediately, the first and second paragraphs of the section of each Prospectus titled "Shareholder Information—Conversion Features" are deleted in their entirety and replaced with the following:

A shareholder currently holding Class A shares of the Fund in a fee-based advisory program ("Advisory Program") account, or currently holding Class A shares in a brokerage account but wishing to transfer into an Advisory Program account, may convert such shares to Class I shares of the Fund within the Advisory Program at any time. In addition, a shareholder holding Class C or Class L shares of the Fund through a brokerage account or an Advisory Program account may convert such shares to either Class A or Class I shares of the Fund within an Advisory Program at any time. Such conversions will be on the basis of the relative NAVs, without requiring any investment minimum to be met and without the imposition of any redemption fee or other charge. If a CDSC is applicable to such Class A or Class C shares, then the conversion may not occur until after the shareholder has held the shares for a 12-month period.

In addition, the section of each Prospectus titled "Appendix A—Intermediary-Specific Sales Charge Waivers and Discounts—Merrill Lynch" is deleted in its entirety and replaced with the following:

Merrill Lynch ("Merrill")

Purchases or sales of front-end (i.e. Class A) or level-load (i.e., Class C) shares through a Merrill platform or account will be eligible only for the following sales load waivers (front-end, contingent deferred, or back-end waivers) and discounts, which differ from those disclosed elsewhere in this Fund's prospectus. Purchasers will have to buy mutual fund shares directly from the mutual fund company or through another intermediary to be eligible for waivers or discounts not listed below.

It is the client's responsibility to notify Merrill at the time of purchase or sale of any relationship or other facts that qualify the transaction for a waiver or discount. A Merrill representative may ask for reasonable documentation of such facts and Merrill may condition the granting of a waiver or discount on the timely receipt of such documentation.

Additional information on waivers and discounts is available in the Merrill Sales Load Waiver and Discounts Supplement (the "Merrill SLWD Supplement") and in the Mutual Fund Investing at Merrill pamphlet at ml.com/funds. Clients are encouraged to review these documents and speak with their financial advisor to determine whether a transaction is eligible for a waiver or discount.

Front-end Sales Load Waivers on Class A Shares Available at Merrill

•  Shares of mutual funds available for purchase by employer-sponsored retirement, deferred compensation, and employee benefit plans (including health savings accounts) and trusts used to fund those plans provided the shares are not held in a commission-based brokerage account and shares are held for the benefit of the plan. For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, Simple IRAs, SAR-SEPs or Keogh plans

•  Shares purchased through a Merrill investment advisory program

•  Brokerage class shares exchanged from advisory class shares due to the holdings moving from a Merrill investment advisory program to a Merrill brokerage account

•  Shares purchased through the Merrill Edge Self-Directed platform

•  Shares purchased through the systematic reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same mutual fund in the same account

•  Shares exchanged from level-load shares to front-end load shares of the same mutual fund in accordance with the description in the Merrill SLWD Supplement

•  Shares purchased by eligible employees of Merrill or its affiliates and their family members who purchase shares in accounts within the employee's Merrill Household (as defined in the Merrill SLWD Supplement)

•  Shares purchased by eligible persons associated with the fund as defined in this prospectus (e.g. the fund's officers or trustees)

•  Shares purchased from the proceeds of a mutual fund redemption in front-end load shares provided (1) the repurchase is in a mutual fund within the same fund family; (2) the repurchase occurs within 90 calendar days from the redemption trade date, and (3) the redemption and purchase occur in the same account (known as Rights of Reinstatement). Automated transactions (i.e. systematic purchases and withdrawals) and purchases made after shares are automatically sold to pay Merrill's account maintenance fees are not eligible for Rights of Reinstatement

Contingent Deferred Sales Charge ("CDSC") Waivers on Front-end, Back-end, and Level Load Shares Available at Merrill

•  Shares sold due to the client's death or disability (as defined by Internal Revenue Code Section 22e(3))

•  Shares sold pursuant to a systematic withdrawal program subject to Merrill's maximum systematic withdrawal limits as described in the Merrill SLWD Supplement

•  Shares sold due to return of excess contributions from an IRA account

•  Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the investor reaching the qualified age based on applicable IRS regulation

•  Front-end or level-load shares held in commission-based, non-taxable retirement brokerage accounts (e.g. traditional, Roth, rollover, SEP IRAs, Simple IRAs, SAR-SEPs or Keogh plans) that are transferred to fee-based accounts or platforms and exchanged for a lower cost share class of the same mutual fund

Front-end Load Discounts Available at Merrill: Breakpoints, Rights of Accumulation & Letters of Intent

•  Breakpoint discounts, as described in this prospectus, where the sales load is at or below the maximum sales load that Merrill permits to be assessed to a front-end load purchase, as described in the Merrill SLWD Supplement

•  Rights of Accumulation (ROA), as described in the Merrill SLWD Supplement, which entitle clients to breakpoint discounts based on the aggregated holdings of mutual fund family assets held in accounts in their Merrill Household

•  Letters of Intent (LOI), which allow for breakpoint discounts on eligible new purchases based on anticipated future eligible purchases within a fund family at Merrill, in accounts within your Merrill Household, as further described in the Merrill SLWD Supplement

Please retain this supplement for future reference.

  IFTMERRILLYNCHPROSPT 4/24