The Wealth Management Association (WMA1) today announced an agreement with MSCI to provide the Private Investor Index Series2.
MSCI will offer the wealth management community a series of flexible multi-asset class indices that will be augmented and enhanced over time based on the changing needs of the private client sector.
This change is the culmination of a lengthy project initially undertaken by the WMA Private Indices Committee in which it considered those requirements and augmentations deemed necessary to ensure the Private Investor Index Series remain credible, useful and relevant to the Wealth Management community. Furthermore, the Committee debated what flexibility in an index provider is necessary so that these enhancements can be delivered when required. Having considered these findings and the long-terms needs of the Private Investor Index Series the WMA Board has decided to appoint MSCI as the exclusive index provider for these indices.
This new agreement will ensure the delivery of a suite comprising of five indices: conservative, balanced, income, growth and global growth.
Further consultation with the WMA membership and Private Investor Indices Committee will take place and inform the ongoing development and refinement of the traditional indices, in addition to exploring with MSCI options for additional new indices.
With agreement from the WMA Board the use of the new index series will begin on 1st March 2017.
Maintaining the transparency of the Private Investor Index Series will remain a priority for both sides and the data collection for the indices from within the WMA membership will remain in WMA hands and continue to be 100% confidential and reported anonymously.
WMA Chief Executive, Liz Field comments:
“It is essential that as a trade association we constantly review the ongoing relevance and use of our suite of indices for our member firms. As demands change we need to be able to evolve with them and the flexibility offered by MSCI allow us to do that.”
Diana Tidd, Managing Director and Global Head of Index Products at MSCI said:
”We are proud that the WMA has chosen MSCI as the provider for this index series. We are dedicated to supporting the wealth management community, and delivering top quality indexes. MSCI’s long history as a leading global index provider and our desire to work closely with our valued clients, gives us the experience and ability to be nimble and to flexibly adapt to evolving markets and client needs."
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