MSCI PIMFA Equity Risk Index Series
Multi-Asset Indexes

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Five composite indices

MSCI, in collaboration with the Personal Investment Management and Financial Advice Association (PIMFA), has created the MSCI PIMFA Equity Risk Index Series consisting of five composite indices designed to represent the weightings, and show returns of, selected multi-asset class strategies of UK Wealth firms. The indices can be used to measure and compare portfolio performance in financial product information documents and client portfolio statements.

The indices include weightings of equities, bonds, real estate and “alternative” investments based on the strategic asset allocations (SAA) of PIMFA member firms grouped by the percentage of equities held in the strategies.

MSCI PIMFA Equity Risk 1 Index

(Equity 10 – 25%)

MSCI PIMFA Equity Risk 2 Index

(Equity 26 – 46%)

MSCI PIMFA Equity Risk 3 Index

(Equity 47 – 66%)

MSCI PIMFA Equity Risk 4 Index

(Equity 67 – 85%)

MSCI PIMFA Equity Risk 5 Index

(Equity 86 – 100%)

Example: For the MSCI PIMFA Equity Risk 2 Index, all SAA’s submitted quarterly by PIMFA member firms that contain allocations to equities of 26% to 46% are grouped, and the median allocations weights to each asset class in those SAA’s calculated to determine the weightings for that composite index.

Index series features

Extensive history

Daily index-level returns for each of the five MSCI PIMFA Equity Risk indices, including history from inception (July 2007).

Consistent benchmark

A series of 5 equity risk indices, that can be used as benchmarks to compare the performance of portfolios having investment objectives similar to the strategy represented in the respective index.

Methodology

The methodology negates differing industry interpretations of strategies such as “Conservative” or “Balanced” by using the percentage of equities as the primary means for grouping similar strategies.

Replicable

Each index is comprised of replicable sub-component indexes targeting various exposures to equities, bonds and property to reflect the holdings of a diversified multi-asset class strategy.

MSCI PIMFA Equity Risk Index data module contents:

Users can access the returns of the indices by subscribing to the MSCI PIMFA Equity Risk Index data module. The module will include the following:

  • Daily index-level returns for each of the five MSCI PIMFA Equity Risk indices, including history from inception (July 2007).
  • The option to view index performance in both Total Return (Net) and Price variants
  • Index-level return data for the component MSCI sub-indices that will be used to represent the asset classes receiving the Committee’s allocations for each MSCI PIMFA Equity Risk index
  • Permission to show the performance of the MSCI PIMFA Equity Risk indices in both public (e.g. product factsheets, research articles) and private (e.g. client portfolio statements) reports

Subscribers may access the data via direct download from MSCI with the intention to make the indices available via third-party market data providers*.

 

*MSCI cannot guarantee data availability by any 3rd party data vendor source as they alone determine the data they will distribute based on client demand.

Performance, fact sheets, and methodology

Performance fact sheets


Sub-Indices

Equities

 

Fixed Income

  • Goverment Bonds: Markit iBoxx £ Gilts Index
  • Corporate Bonds: Markit iBoxx £ Corporates Index
  • Inflation-Linked Bonds: Markit iBoxx UK Gilt Inflation Linked Index


Other


Asset Allocations

The current asset allocations for each of the indexes can be viewed at: https://www.pimfa.co.uk/pimfa-indices/current-asset-allocation-2

Product brochure

Discover the MSCI PIMFA Equity Risk Index Series

View brochure

Methodology book

View methodology

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