Current Asset Allocation

Each of these portfolios contains different proportions of UK equities, international equities, bonds, cash and alternatives to reflect the investment aims of UK wealth managers. The changes in their values (i.e. the movement up or down of the UK shares, international shares, bonds etc) are represented by the movements of the related indices.

DATE: 3 June 2025

Following the recent review of survey data provided by participating member firms, the PIMFA Indices Committee have agreed changes to the portfolio weights of the MSCI PIMFA Private Investor Index Series. These changes are effective Monday 2^nd June and are published below (changes highlighted for ease). Implementation dates for any potential/future asset allocation changes are aligned to MSCI’s Global Index Review Rebalancing Calendar.

The Q3 2025 survey opens Monday 7th July and closes Friday 25th July. If you would like your firm to participate in the quarterly asset allocation surveys and help ensure that the index weight methodology for the MSCI PIMFA Private Investor/MSCI PIMFA Equity Risk Index Series’ remain relevant benchmarks for the UK wealth management sector, please email indices@pimfa.co.uk for more information.

Asset Class	Equities		Bonds			Cash	Real Estate	Alternatives
Underlying Asset Index	UK Equities [MSCI United Kingdom IMI]	International Equities (MSCI All country World Index (ACWI) ex-UK (in GBP))	Bonds: UK Gilts [Markit iBoxx £ Gilts]	Bonds: Corporates [Markit iBoxx £ Corporate]	Bonds: Inflation-Linked [Markit iBoxx UK Gilt Inflation Linked]	Cash [Custom Index of Bank of England Base Rate -0.75%, w/floor of 0%]	Commercial Property [MSCI UK IMI Liquid Real Estate]	Alternatives [Custom Index of 100% Long MSCI World Diversified Multiple Factor Index + 70% Short MSCI World Index]
Conservative	7.50	22.50	12.50	32.50	2.50	2.50	2.50	17.50
Income	12.50	35.00	10.00	20.00	2.50	2.50	2.50	15.00
Balanced	15.00	45.00	5.00	15.00	2.50	2.50	2.50	12.50
Growth	20.00	57.50	2.50	5.00	0.00	2.50	2.50	10.00
Global Growth	Developed World Equities [MSCI World Index (in GBP)]	Emerging World Equities [MSCI Emerging Market Index (in GBP)]
	90.00	5.00	0.00	0.00	0.00	2.50	0.00	2.50

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Current Asset Allocation