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The information contained herein (the "Information") may not be reproduced or redisseminated in whole or in part without prior written permission from MSCI. The Information may not be used to verify or correct other data, to create indexes, risk models, or analytics, or in connection with issuing, offering, sponsoring, managing or marketing any securities, portfolios, financial products or other investment vehicles. Historical data and analysis should not be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information or MSCI index or other product or service constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy. Further, none of the Information or any MSCI index is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. The Information is provided "as is" and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. NONE OF MSCI INC. OR ANY OF ITS SUBSIDIARIES OR ITS OR THEIR DIRECT OR INDIRECT SUPPLIERS OR ANY THIRD PARTY INVOLVED IN THE MAKING OR COMPILING OF THE INFORMATION (EACH, AN "MSCI PARTY") MAKES ANY WARRANTIES OR REPRESENTATIONS AND, TO THE MAXIMUM EXTENT PERMITTED BY LAW, EACH MSCI PARTY HEREBY EXPRESSLY DISCLAIMS ALL IMPLIED WARRANTIES, INCLUDING WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. WITHOUT LIMITING ANY OF THE FOREGOING AND TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT SHALL ANY OF THE MSCI PARTIES HAVE ANY LIABILITY REGARDING ANY OF THE INFORMATION FOR ANY DIRECT, INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL (INCLUDING LOST PROFITS) OR ANY OTHER DAMAGES EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. The foregoing shall not exclude or limit any liability that may not by applicable law be excluded or limited. The Wealth Management Association (WMA) is a UK-based trade association with 200 member firms with a remit to represent the interests of the private client investment community and their clients. The WMA membership consists of full members, such as wealth management and stockbroking firms, that deal directly for the private investor, and associate members who provide professional services to our member firms. Today WMA member firms collectively reach over 4 million investors, manage in excess of £760 billion of wealth, and operate in over 580 branches across the UK, Ireland, the Channel Islands and the Isle of Man. www.thewma.co.uk ©2016 MSCI Inc. All rights reserved. For more than 40 years, MSCI's research-based indexes and analytics have helped the world's leading investors build and manage better portfolios. Clients rely on our offerings for deeper insights into the drivers of performance and risk in their portfolios, broad asset-class coverage and innovative research. Our line of products and services includes indexes, analytical models, data, real-estate benchmarks and ESG research. MSCI serves 97 of the 100 largest money managers, according to the most recent Pensions & Investments ranking. For more information, visit us at www.msci.com. To contact a MSCI representative to discuss your index data requirements please e-mail us at: WMA@msci.com. Additional information about the MSCI WMA Private Investor Index Series data module is available on our website at: www.msci.com/wma. ABOUT THE WEALTH MANAGEMENT ASSOCIATION ABOUT MSCI CONTACT US

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