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Pimfa commits to keeping WMA indices

Adviser trade body Pimfa has confirmed it will keep and revamp its indices following speculation they might be scrapped.

The new trade body was set up in June last year through the merger of the Wealth Management Association and Apfa.

In March 2017, the WMA launched the MSCI WMA Private Investor Index Series, which is used to compare different portfolios’ performances.

The new strategy with MSCI, the data provider, was a revamped version of the indices the WMA built in 1997 and 2011 before the merger.

The current suite of indices is made up of the balanced, conservative, global growth, growth and income portfolios.

Pimfa deputy chief executive John Barrass says the trade body plans to add more indices to the current suite, which will not be dropped.

He says: “[The indices] are not changing, there are no plans to [run them] in a different way. We are not altering the name or the status of the indices and they’ll remain for the purposes in which they were designed originally.

“The indices are an important component of what we offer. We’ll put more into them, we’ll look at how to develop them further and how to establish them and make them more visible in the public eye because they are not as well known as they should be. We want it to be more of a branded item to show it is something we can offer to the market.”

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