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 March 2025

Following the February review of survey data provided by participating member firms, the PIMFA Indices Committee agreed there will be no changes to the portfolio weights of the MSCI PIMFA Equity Risk Index Series, please click here to view the decision taken.

Implementation dates for any potential/future asset allocation changes are aligned to MSCI’S Global Index Rebalancing Calendar

The Q2 2025 survey opens Monday 7th April and closes Friday 28th April. If you would like your firm to participate in the quarterly asset allocation surveys to 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 (Cash equivalent) [Custom Index of Bank of England Base Rate - 0.75% w/ floor of 0%]	Commercial Property [MSCI UK IMI Liquid Real Estate]	Hedge Funds/ Alternatives [Custom Index of 100% Long MSCI World Diversified Multiple Factor Index + 70% Short MSCI World Index]
Equity Risk 1 Index	7.50	12.50	15.00	40.00	2.50	7.50	2.50	12.50
Equity Risk 2 Index	10.00	25.00	10.00	30.00	2.50	2.50	5.00	15.00
Equity Risk 3 Index	15.00	42.50	5.00	20.00	2.50	2.50	2.50	10.00
Equity Risk 4 Index	17.50	57.50	5.00	7.50	0.00	2.50	2.50	7.50
Equity Risk 5 Index	20.00	75.00	0.00	0.00	0.00	2.50	0.00	2.50

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Current Asset Allocation