The Wealth Management Association (WMA) has struck a deal with MSCI to become index provider of its Private Investor Index Series, replacing FTSE UK.
The MSCI will run a series of flexible multi-asset class indices for the private client sector from 1 March 2017.
This new agreement involves the provision of five indices; conservative, balanced, income, growth and global growth, and will include 10 years of history from the outset.
These indices will be augmented and enhanced over time based on the changing needs of the private client sector, the trade body said.
WMA added that it is ‘exploring’ other options with MSCI to launch new indices in the future.
WMA chief executive Liz Field said: “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.”
MSCI managing director and global head of index products Diana Tidd 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."