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STEP launches investment monitoring service


The Society of Trust and Estate Practitioners (STEP) has launched a new member service, the Trustee Managed Portfolio Indices.

The indices, produced by the Enhance Group, will provide trustees and private client practitioners with an understanding of the level of investment performance that they should expect.

A further benefit of the TMPI service is that it will provide trustees with a standard terminology for communicating their tolerance for investment risk with the investment management industry.

STEP chief executive David Harvey (pictured) says: “We believe that this is an opportunity to provide our members with powerful information about investment performance and risk. This is an area that has always been a real challenge and we are delighted to work with the Enhance Group Limited to leverage off their established experience and expertise in this area.”

The indices will also give investment managers a clearer risk benchmark which does not limit their investment process or options. With wide benefits across the financial services industries, the service aims to improve the level of communication and understanding between investment managers, private client practitioners and trustees both in the UK and internationally.

Russell Bussey, a STEP Private Client Awards judge, will act as an ongoing adviser to the service. He will assist STEP members and also liaise with the investment management community.

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