The Society of Trust and Estate Practitioners has launched a new service - Trustee Managed Portfolio Indices - to help its members gauge the performance of the investments they oversee against the wider industry.

As well as letting members know the level of performance they should be getting, the new service is also designed to provide trustees with a standard terminology for communicating their tolerance for investment risk to investment managers.

The Trustee Managed Portfolio Indices have been produced by the Enhance Group, the companies of which cover investment consultancy services, performance and risk monitoring for high net worth individuals, charities and fiduciaries. Russell Bussey, a STEP Private Client Awards Judge, will act as an ongoing advisor to the service, assisting STEP members and also liaising with the investment management community.