People Moves

STEP Names Oversight Board For Managed Portfolio Indices

Tom Burroughes Group Editor London 18 December 2012

STEP Names Oversight Board For Managed Portfolio Indices

The Society of Trust and Estate Practitioners has unveiled the oversight board for the STEP Trustee Managed Portfolio Indices, and suggested that additional members may be named for Switzerland.

The following members have been appointed:

Paul Stibbard TEP - Rothschild Trust Group;  David Kilshaw TEP – KPMG; Julian Hayden TEP - Hawksford Group; Paul Bailey - Azure Wealth; James Hoare - Hoare & Co; Phil Le Cornu TEP - Ogier Group; Louise Stoten TEP - New Quadrant; Roderick Earl of Balfour TEP - Virtus Trust; Shelia Dean - Equiom Trust Company; Kathy Whatmough - Rice Whatmough Crozier; Jen Geddes - R&H Trust Co (Jersey); Ivan Hooper TEP - Winterbotham Trust Company; Russell Bussey - IPS Capital; and James Painter - Enhance Group.

“We may appoint additional board members, specifically for Switzerland, to take into account the international nature of the indices and of our membership,” David Harvey, STEP’s chief executive, said in a statement. "We have had a very favourable reaction to the indices launch and details of investment managers supporting the indices will be released and published shortly."

Russell Bussey, STEP appointed representative, explained the significance of the indices to this publication. 

"The indices will give STEP members, trustees and like-minded private client professionals a set of measurements based on two issues that concern them most, these being draw-down and volatility. The indices were identified as a need by trustees and practitioners based in the UK, Channel Islands and Switzerland and were subjected to much scrutiny.
 
"The indices will aid trustees and investment professionals to set an appropriate investment policy statement and be compliant with the Trustee Act. It is hoped these indices will give the investment managers clear guidelines as to what is expected of them."
 
It is understood that further indices for both the Far East and US/Caribbean are likely, as is one for charities.

 

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