Longer Term Confidence in trust and estate industry at three year high
04 Apr, 2013
The Society of Trust and Estate Practitioners’ (STEP) latest global quarterly confidence survey shows a dip in the immediate outlook but registers a three year high in the long-term outlook for the industry.
In the first quarter of 2013 the STEP Near Term Confidence Index, which looks at the outlook over the next three months, has halved to +5, after remaining steady around the +11 mark since Q2 2011.
The STEP Longer Term Confidence Index, which looks at the outlook over the next 12 months, has shot up nine points from +26 to +35. The Longer Term Confidence Index is now at its highest level since the beginning of 2010.
Confidence levels peaked in Q4 2009 and Q1 2010 respectively for the longer and shorter term indicators.
STEP Chief Executive David Harvey (pictured) said: ‘The increase in confidence in the longer term is encouraging particularly given the changes in the international regulatory environment set to take effect over the next few years.
‘Alongside these indices, we are exploring new ways to engage with our members, in order to better understand their concerns and help them face both current and future challenges in what remains a fragile global economy.’
The quarterly survey looks at STEP Members’ views across a wide range of jurisdictions, and trust and estate businesses. The Confidence Indices are constructed by taking the balance of survey respondents replying that they expect business to ‘improve’ or ‘significantly improve’ relative to those expecting business to ‘decline’ or ‘decline significantly’.
Findings of the first quarter 2013 STEP Business Confidence Survey are online here.