For Morgan Stanley Alternative Investment Partners, founded in 2000 by the New York–based investment bank, the past several years has been about fund diversification. Since 2012, the West Conshohocken, Pennsylvania–based fund-of-funds business have launched at least five funds, ranging from real estate and private equity to opportunistic strategies. AIP has generally been a step ahead of its peers, offering clients custom solutions since its launch. Now the firm is introducing new products to attract a broader client base and keep ahead of the competition. The firm’s first daily liquidity mutual fund AIP Dynamic Alternative Strategies Fund was launched in May 2013…