Press Release

New MSCI PIMFA Equity Risk Index Series Launched

Monday 2nd December 2019


Launched on 1st December 2019, the Personal Investment Management and Financial Advice Association (PIMFA) in collaboration with MSCI, has created the MSCI PIMFA Equity Risk Index Series.

Over the last two years PIMFA, the trade association for the financial advice and wealth management industry, has been consulting with our members on the structure of our Indices offering.

The new MSCI PIMFA Equity Risk Index Series consists 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 benchmark, measure and compare portfolio performance in financial product information documents and client portfolio statements.

Following the changing demands of the market and members, this process has shown that many wealth management firms are increasingly focusing their investment strategies on a risk based approach. The new MSCI PIMFA Equity Risk Index Series (RBI) will run concurrently with the existing MSCI PIMFA Private Investor Index Series.

There are five key elements which set the new series apart:

  • Greater Representativeness: the indices accurately reflect the trends in the private client investment industry based on its inputs
  • Up-to-date Information: asset allocations will be published quarterly; indices will be calculated and published daily by an Authorised Benchmark Administrator (MSCI)
  • Transparency: the indices are transparent with all information available at and all of the index components are investible
  • Independence and Objectivity: the RBI are run by an independent trade association which has no conflict of interest
  • Reliability: When there is a significant trend over three quarters in any given asset class’s mean weight within an index, the Indices Committee will review and potentially adjust that index weight

All strategic asset allocations will be grouped into ranges by the level of equity exposure, creating homogenous groups, and there will be ten years of historical data supporting the new release, drawn from past member surveys and computational methodology.

PIMFA’s Head of Research and Indices, Gary Sunderland, said;

“PIMFA’s mission is to create the best possible environment so that our member firms can focus on delivering the best service to their clients and providing responsible stewardship for their long-term savings and investments, and we believe that this initiative will be of great help in achieving this.”

Further information can be found on the Indices pages on the PIMFA website and MSCI PIMFA Equity Risk Index Series brochure is available to download here.




Notes for Editors

About PIMFA – the Personal Investment Management & Financial Advice Association

  • PIMFA is the leading trade association for firms that provide investment management and financial advice to everyone from individuals and families to charities, pension funds, trusts and companies.
  • The sector currently looks after £1.3 trillion in private savings and investments and employs over 55,000 people
  • PIMFA represents both full and associate member firms. Full members provide a range of financial solutions including financial advice, portfolio management, as well as investment and execution services. They assist everyone from individuals and families, to charities and pension funds, all the way to trusts and companies.  Associate members provide professional services to the PIMFA community
  • PIMFA leads the debate on policy and regulatory recommendations to ensure that the UK remains a global centre of excellence in the wealth management, investment advice and financial planning arena.  Our mission is to create an optimal operating environment so that its member firms can focus on delivering the best service to clients, providing responsible stewardship for their long-term savings and investments.
  • PIMFA was created in 2017 as the outcome of a merger between the Association of Professional Financial Advisers (APFA) and the Wealth Management Association (WMA) with a history as a trade association since 1991 – read more
  • Further information can be found at
  • To become a member of PIMFA for access to training, benefits and discounts, please visit contact us directly at


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