MSCI PRIVATE REAL ESTATE INDEX APPLICATION FOR EU BMR REGULATED USE
JUNE 2019MSCI PRIVATE REAL ESTATE INDEXAPPLICATION FOR EU BMR REGULATED USE
INTRODUCTION
MSCI real estate clients who wish to use MSCI Private Real Estate Indexes for EU benchmark regulation ("BMR")
regulated uses must complete this application form and submit it for MSCI’s review. If approved, MSCI, in its sole
discretion, will issue a written authorization letter. Any BMR regulated use of any MSCI Private Real AssetsIndexes, including the MSCI Private Real Estate Indexes, is strictly prohibited unless and until both MSCI and theapplicant client have signed the written authorization letter issued by MSCI.
Any authorization is subject to MSCI being authorized or registered as the benchmark administrator for the relevant
MSCI Private Real Estate Indexes pursuant to the BMR.

ELIGIBILITY

The only MSCI Private Real Estate Indexes eligible for BMR regulated uses are those that are:••Selected from:- the MSCI/AREF UK Quarterly Property Fund Index,- the MSCI UK Annual Property Index,- the MSCI UK Quarterly Property Index,- indexes and benchmarks created from the same index universes as the indexes
listed above.
Have frozen history

MSCI will provide a report of the values of any approved index at each update. This will be considered thedefinitive source of the MSCI authorized BMR regulated benchmark numbers.

INSTRUCTIONS

To initiate the review and authorization process, please complete all sections of this form:
1. Contact Information
2. Investment Fund or Financial Instrument Details
3. Benchmark Information

Then please email the completed application form to MSCI_RealEstate_EUBMR_Use_Application@msci.com.
Upon receipt, MSCI will acknowledge receipt, review your request, and respond in due course. MSCI will contact
you for additional details, if necessary.
Final written authorization letters will not be issued by MSCI unless and until MSCI is authorized or registered as abenchmark administrator for the relevant MSCI Private Real Estate Indexes pursuant to the BMR. MSCI may issue
written provisional indications of MSCI’s intent to provide authorization prior to this. Final authorization letters mustbe signed by both MSCI and the applicant client before any BMR regulated use is authorized or permitted.
Please note that the submission of this application is not permission, approval or authorization to use any MSCI
Private Real Estate Indexes for any regulated uses under the BMR.

© 2019 MSCI Inc. All rights reserved. Please refer to the disclaimer at the end of this document.

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MSCI PRIVATE REAL ESTATE INDEX APPLICATION FOR EU BMR REGULATED USE
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1CONTACT INFORMATIONCLIENT DETAILS
Organization name:
Address Line 1:
Address Line 2:
City:
State/Province/Region:
Zip/Postal Code:Country:

CONTACT DETAILS
Title: [None]First Name:
Last Name:
Role:
Email Address:
Telephone:© 2019 MSCI Inc. All rights reserved. Please refer to the disclaimer at the end of this document.

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MSCI PRIVATE REAL ESTATE INDEX APPLICATION FOR EU BMR REGULATED USE
JUNE 20192INVESTMENT FUND OR FINANCIAL INSTRUMENT
DETAILS

A. If you are requesting use for an investment fund:(Under the BMR, ‘investment fund’ means an AIF as defined in point (a) of Article 4(1) of Directive 2011/61/EU,
or a UCITS as defined in Article 1(2) of Directive 2009/65/EC)

Fund Name:
Fund Domicile:
If this is a new fund, date BMR regulated
use is needed:

B. If you are requesting use for a financial instrument or financial contract:(Under the BMR, ‘financial instrument’ means any of the instruments listed in Section C of Annex I to Directive
2014/65/EU for which a request for admission to trading on a trading venue, as defined in point (24) of Article4(1) of Directive 2014/65/EU, has been made or which is traded on a trading venue as defined in point (24) ofArticle 4(1) of Directive 2014/65/EU or via a systematic internaliser as defined in point (20) of Article 4(1) of thatDirective;)
Derivative Name:
Derivative Description:

Trading Venue:
Location of Trading Venue:© 2019 MSCI Inc. All rights reserved. Please refer to the disclaimer at the end of this document.

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MSCI PRIVATE REAL ESTATE INDEX APPLICATION FOR EU BMR REGULATED USE
JUNE 2019

3

BENCHMARK INFORMATIONAre you applying for a:

Property Fund Benchmark

Property Benchmark

Intended BMR regulated use of the benchmark: Please select...

If request is for a property fund benchmark:
Property Fund Benchmark Description

Please explain (required if “other”):

Headline Index: Please select...
Segment: Please select...

If request is for a property benchmark:
Property Benchmark Description
Headline Index:

Please explain (required if “other”):

Please select...

Peer Group Filter:(e.g., Monthly funds, exclude fund x)
Geographic Filter:(e.g., UK, London West-End)
Property Attribute Filter:

Please select...

(e.g. property sector, size band)
Analysis Filter:

Please select...

Performance Characteristics:
Performance Measure:

Please select...

Measure Function:

Please select...

Currency:

Please select...

Additional Comments/Description:© 2019 MSCI Inc. All rights reserved. Please refer to the disclaimer at the end of this document.

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MSCI PRIVATE REAL ESTATE INDEX APPLICATION FOR EU BMR REGULATED USE
JUNE 2019

Contact us
realestate@msci.com+ 44 20 7336 4783

ABOUT MSCIAMERICAS
CanadaUS+ 1 416 687 6284
+ 1 212 804 3900

EUROPE, MIDDLE EAST & AFRICA
UK
FranceGermanyItaly+ 44 20 7336 9200
+ 44 20 7336 4783
+ 49 691 3385 900+ 44 20 7336 9684

Netherlands+ 31 88 328 22 00

Spain+ 34 93 467 7403
+ 27 11 656 2115
+ 46 8 400 252 30

South Africa
SwedenMSCI is a leading provider of critical decision
support tools and services for the global
investment community. With over 45 years ofexpertise in research, data and technology, wepower better investment decisions by enablingclients to understand and analyze key driversof risk and return and confidently build more
effective portfolios. We create industry-leading
research-enhanced solutions that clients useto gain insight into and improve transparency
across the investment process.
To learn more, please visit www.msci.com.

ASIA PACIFIC
Australia
Hong KongSingapore
Japan+ 61 2 9033 9300
+ 852 2844 9333
+ 65 6826 9339+
81 3 5211 1455

© 2019 MSCI Inc. All rights reserved. Please refer to the disclaimer at the end of this document.

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MSCI PRIVATE REAL ESTATE INDEX APPLICATION FOR EU BMR REGULATED USE
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Notice and disclaimer
This document and all of the information contained in it, including without limitation all text, data, graphs, charts (collectively, the “Information”) is the property of MSCI Inc. orits subsidiaries (collectively, “MSCI”), or MSCI’s licensors, direct or indirect suppliers or any third party involved in making or compiling any Information (collectively, withMSCI, the “Information Providers”) and is provided for informational purposes only. The Information may not be modified, reverse-engineered, reproduced or redisseminatedin whole or in part without prior written permission from MSCI.
The Information may not be used to create derivative works or to verify or correct other data or information. For example (but without limitation), the Information may not be
used to create indexes, databases, risk models, analytics, software, or in connection with the issuing, offering, sponsoring, managing or marketing of any securities,
portfolios, financial products or other investment vehicles utilizing or based on, linked to, tracking or otherwise derived from the Information or any other MSCI data,information, products or services.
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 THE INFORMATION PROVIDERS MAKES
ANY EXPRESS OR IMPLIED WARRANTIES OR REPRESENTATIONS WITH RESPECT TO THE INFORMATION (OR THE RESULTS TO BE OBTAINED BY THE USETHEREOF), AND TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, EACH INFORMATION PROVIDER EXPRESSLY DISCLAIMS ALL IMPLIEDWARRANTIES (INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF ORIGINALITY, ACCURACY, TIMELINESS, NON-INFRINGEMENT,COMPLETENESS, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE) WITH RESPECT TO ANY OF THE INFORMATION.
Without limiting any of the foregoing and to the maximum extent permitted by applicable law, in no event shall any Information Provider have any liability regarding any of theInformation for any direct, indirect, special, punitive, consequential (including lost profits) or any other damages even if notified of the possibility of such damages. Theforegoing shall not exclude or limit any liability that may not by applicable law be excluded or limited, including without limitation (as applicable), any liability for death orpersonal injury to the extent that such injury results from the negligence or willful default of itself, its servants, agents or sub-contractors.
Information containing any historical information, data or analysis should not be taken as an indication or guarantee of any future performance, analysis, forecast orprediction. Past performance does not guarantee future results.
The Information should not be relied on and is not a substitute for the skill, judgment and experience of the user, its management, employees, advisors and/or clients when
making investment and other business decisions. All Information is impersonal and not tailored to the needs of any person, entity or group of persons.
None of the Information constitutes an offer to sell (or a solicitation of an offer to buy), any security, financial product or other investment vehicle or any trading strategy.
It is not possible to invest directly in an index. Exposure to an asset class or trading strategy or other category represented by an index is only available through third party
investable instruments (if any) based on that index. MSCI does not issue, sponsor, endorse, market, offer, review or otherwise express any opinion regarding any fund,ETF, derivative or other security, investment, financial product or trading strategy that is based on, linked to or seeks to provide an investment return related to theperformance of any MSCI index (collectively, “Index Linked Investments”). MSCI makes no assurance that any Index Linked Investments will accurately track index
performance or provide positive investment returns. MSCI Inc. is not an investment adviser or fiduciary and MSCI makes no representation regarding the advisability ofinvesting in any Index Linked Investments.
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returns do not reflect payment of any sales charges or fees an investor may pay to purchase the securities underlying the index or Index Linked Investments. The impositionof these fees and charges would cause the performance of an Index Linked Investment to be different than the MSCI index performance.
The Information may contain back tested data. Back-tested performance is not actual performance, but is hypothetical. There are frequently material differences between
back tested performance results and actual results subsequently achieved by any investment strategy.
Constituents of MSCI equity indexes are listed companies, which are included in or excluded from the indexes according to the application of the relevant index
methodologies. Accordingly, constituents in MSCI equity indexes may include MSCI Inc., clients of MSCI or suppliers to MSCI. Inclusion of a security within an MSCI index
is not a recommendation by MSCI to buy, sell, or hold such security, nor is it considered to be investment advice.
Data and information produced by various affiliates of MSCI Inc., including MSCI ESG Research LLC and Barra LLC, may be used in calculating certain MSCI indexes.
More information can be found in the relevant index methodologies on www.msci.com.
MSCI receives compensation in connection with licensing its indexes to third parties. MSCI Inc.’s revenue includes fees based on assets in Index Linked Investments.
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