DATE: 3 June 2025
Following the recent review of survey data provided by participating member firms, the PIMFA Indices Committee agreed changes to the portfolio weights of the MSCI PIMFA Equity Risk Index Series. These changes will be implemented Monday 2nd 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 (Cash equivalent) [Custom Index of Bank of England Base Rate - 0.75% w/ floor of 0%] | Commercial Property [MSCI UK IMI Liquid Real Esta | 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 | 17.50 | 77.50 | 0.00 | 0.00 | 0.00 | 2.50 | 0.00 | 2.50 |
Asset allocations changes to the MSCI PIMFA Equity Risk Index Series can (but may not) occur up to 4 times per year.
Click here to view historic asset allocation changes for the series and their respective implementation dates.
