The Wealth Management Association has selected index provider MSCI to review the suite of indices within its Private Investors Index Series.
The series, which was launched in 1997 as the main benchmark for private client portfolios, will be made of a multi-asset class indices, divided into conservative, balanced, income, growth and global growth.
Contrarily to a previous strategy, these indices will be now augmented and enhanced over time depending on the needs of investors.
WMA chief executive Liz Field says: “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.”
The trade body also says it is “exploring” other options with MSCI to launch new indices in the future.
MSCI managing director and global head of index products Diana Tidd says: “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.”
The new index series will begin on 1 March 2017.