MSCI All Country World Investable Market Index (ACWI IMI)

A New World. A New Benchmark.

Indices
Key Benefits

MSCI ACWI IMI captures the global equity investment opportunity set across size, style and sector segments in 45 Developed and Emerging Markets.

Offers Broad Global Equity Markets CoverageMSCI ACWI IMI

captures up to 98% of the developed and emerging investable market universe, covering over 9,000 large, mid and small cap securities in 45 countries.
Facilitates Index ReplicationThe transparent, rules-based index

Captures Market Changes PromptlyAs part of the MSCI Global Investable Market Indices family, MSCI ACWI IMI benefits from timely and consistent treatment of corporate events and from synchronized semi-annual and quarterly global index reviews. Provides High Quality DataDedicated index research, data and production teams apply rigorous quality assurance standards to the calculation of all MSCI indices. Detailed BCP systems and procedures, along with fully redundant data centers and Work Area Recovery sites aim to ensure continuous data delivery.

methodology applies stringent investability requirements and foreign ownership screens. Also buffer zones are used to manage company migrations across size and style segments, reducing unnecessary index turnover.
Enables a Global Approach to Sector InvestingMSCI ACWI IMI can

be segmented by sector, industry group, industry and sub-industry, based on the Global Industry Classification Standard (GICS).

MSCI ACWI IMI can be used for performance measurement and attribution, for research, as a tool for making asset allocation decisions and as the basis for tradable investment products.

Cumulative Index PerformanceTotal Returns

500
MSCI ACWI IMI MSCI Emerging Markets IMI USA IMI MSCI World ex USA IMI

(May 1994 Dec 2010)

400

389.76 298.69 296.50 251.52

300

200

100

0 05-94

05-95

05-96

05-97

05-98

05-99

05-00

05-01

05-02

05-03

05-04

05-05

05-06

05-07

05-08

05-09

05-10

MSCI ACWI IMI

MSCI USA IMI Large Cap Mid Cap Small Cap

MSCI World ex USA IMI Large Cap Mid Cap Small Cap

MSCI Emerging Markets IMI Large Cap Mid Cap Small Cap

December 31, 2010

Security & Market Cap Distribution
Standard (Large + Mid Cap) Large Cap Mid Cap Small Cap Investable Market Index (IMI) # of Securities MSCI USA MSCI World ex US MSCI EM 591 1,069 802 274 471 451 317 598 351 1,999 2,611 1,983 2,590 3,680 2,785 MSCI ACWI 2,462 1,196 1,266 6,593 9,055

MSCI ACWI IMI

MSCI ACWI IMI Index MCap* Weight 28,236 86.4% 23,389 71.6% 4,847 14.8% 4,447 13.6% 32,683 100.0%
* USD billion

Index Fundamentals
Price to Earnings (P/E) Price to Book (P/BV) Dividend Yield (%) 16.78 1.85 2.24

Sector Weights
Health Care 8.0% Cons Staples 8.7% Info Tech 12.1% Materials 9.5% Telecom Services 4.1% Utilities 3.8% Financials 20.5%

Country Weights - Developed Markets

Country United States Japan United Kingdom Canada France Australia Germany Switzerland Sweden Spain Hong Kong Italy Netherlands Singapore Finland Denmark Norway Belgium Israel Austria Greece Ireland Portugal New Zealand Total # of Securities 2,590 1,158 393 335 179 271 174 111 111 73 156 137 57 109 47 40 58 51 82 29 40 22 24 23 6,270 Weight 43.12% 8.64% 8.17% 4.70% 3.45% 3.45% 3.06% 2.95% 1.28% 1.18% 1.12% 1.02% 0.96% 0.70% 0.46% 0.43% 0.42% 0.38% 0.32% 0.17% 0.12% 0.12% 0.10% 0.06% 86.37%

Cons Discr 10.7%

Energy 10.8%

Industrials 11.7%

Country Weights - Emerging Markets

Country China Brazil Korea Taiwan India South Africa Russia Mexico Malaysia Indonesia Thailand Turkey Chile Poland Colombia Peru Philippines Egypt Czech Republic Hungary Morocco Total # of Securities 454 151 459 565 372 115 56 45 128 64 85 94 35 60 11 8 29 34 7 7 6 2,785 www.msci.com Weight 2.34% 1.99% 1.89% 1.72% 1.15% 1.08% 0.79% 0.58% 0.40% 0.32% 0.25% 0.23% 0.23% 0.22% 0.10% 0.09% 0.08% 0.07% 0.05% 0.04% 0.02% 13.63%

About MSCI

clientservice@msci.com

MSCI Inc. is a leading provider of investment decision support tools to investors globally, including asset managers, banks, hedge funds and pension funds. MSCI products and services include indices, portfolio risk and performance analytics, and governance tools. The companys agship product offerings are: the MSCI indices which include over 120,000 daily indices covering more than 70 countries; Barra portfolio risk and performance analytics covering global equity and xed income markets; RiskMetrics market and credit risk analytics; ISS governance research and outsourced proxy voting and reporting services; FEA valuation models and risk management software for the energy and commodities markets; and CFRA forensic accounting risk research, legal/regulatory risk assessment, and due-diligence. MSCI is headquartered in New York, with research and commercial ofces around the world. 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 indices, risk models, or analytics, or in connection with issuing, offering, sponsoring, managing or marketing any securities, portfolios, nancial 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, nancial 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.

2010 MSCI Inc. All rights reserved.

December 2010