The Personal Investment Management & Financial Advice Association (PIMFA)

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MSCI PIMFA Equity Risk Indices

These Additional Terms of Use govern your access to and use of the asset allocation data and related information and materials for the MSCI PIMFA Equity Risk Index Series (“Data”) published on PIMFA’s the web site. Initial and subsequent access to and use of the PIMFA web site and Data is subject to these Additional Terms of Use.

The Data and all of its components constitute copyright and/or proprietary or confidential information of substantial value to PIMFA and is licensed solely to MSCI Inc. (“MSCI”). MSCI is the sole authorized provider of the MSCI PIMFA Equity Risk Index Series which are the PIMFA’s official policy benchmarks. You receive no proprietary rights in or to the Data – title and ownership remains with PIMFA. You shall not, and shall not assist any third party to, assert any rights in the Data or any component of it or challenge PIMFA’s rights to it.

The Data is for informational purposes only, and the user of the information contained in the Data assumes the entire risk of any use made of it. The Data is provided “as is”.

Reproduction, redistribution or any other form of copying or transmission of the Data without PIMFA’s prior written consent is prohibited. In particular the Data may not, without PIMFA’s prior written permission, be used: (i) as a basis for calculating any policy benchmarks that have the potential to serve as substitutes for any index within the MSCI PIMFA Equity Risk Index Series; (ii) for designing or calculating any index or performing method or process that does or is intended or aims to: (a) replicate or approximate the return or performance characteristics of any index in the MSCI PIMFA Equity Risk Index Series; or (b) predict any outcome of any rebalancing of any index in the MSCI PIMFA Equity Risk Index Series; (iii) for calculating any other benchmark or index; (iv) for verifying or correcting data in any other compilation of data or index; (v) for creating any derivatives works; or (vi) for any other commercial purposes.

The terms and conditions contained in these Additional Terms of Use are in addition to the Terms and Conditions applicable to the entire PIMFA web site, which are incorporated by reference. By accepting these Additional Terms of Use you are also expressly agreeing to the Terms and Conditions.