The locally managed Trustee Managed Portfolio Indices (TMPI) was the focus of an exclusive networking event yesterday in Jersey, supported by the global Society of Trust and Estate Practitioners (STEP), who offer TMPI to their members as an exclusive service.
TMPI provides performance benchmarks to STEP members, and are used to communicate investment risk and understand investment returns. STEP has more than 19,000 members across 95 jurisdictions, who are all able to access TMPI. Global wealth service providers Enhance were appointed by STEP in 2012 to run these prestigious indices and hosted yesterday’s event in Jersey where they are headquartered.
Jim Walkinshaw, Chief Operating Officer of STEP, who attended the TMPI networking event commented: “We are delighted with the work that has been done by Enhance on this excellent STEP member service. It is already being used in 100 countries around the world and the reports have already been downloaded more than 14,000 times.”
Tony Pitcher, Branch Chair of STEP Jersey added: “It is extremely positive for Jersey that a local firm is providing a significant global service to such a high standard.”
James Painter, Managing Director of Enhance, concluded: “When we initially began working on TMPI to develop this service, we wanted to significantly improve the way that Trustees appoint investment managers and mitigate risk to beneficiaries. STEP have been excellent to work with and we look forward to strengthening our relationship with them in the future.”