Financial and insurance services

Tender description

Eight Local Government Pension Funds, all based in the Midlands, intend to create an investment pool which will see the creation of a multi asset investment pool of 35 000 000 000 GBP. The Participating Funds in the LGPS Central Investment Pool are Cheshire, Derbyshire, Leicestershire, Nottinghamshire, Shropshire, Staffordshire, West Midlands (including the West Midlands Integrated Transport Authority) and Worcestershire. The collaboration will aim to deliver cost savings and to build on the individual participating Funds' strong investment performances by providing scale, increased resilience, knowledge sharing and robust governance and decision making arrangements. Individual participating Funds will continue to retain their separate identities and local accountability. The collaboration will offer an equal say in the oversight of the new entity to each participating Fund. LGPS Central Limited required a provider to undertake depositary and custody services: registrar and transfer agency services: and administration services. LGPS Central Limited is a company jointly owned by the participating local authorities and will be responsible for providing centralised administration services. LGPS Central Limited required a provider to undertake depositary and custody services: registrar and transfer agency services: and administration services. The Authority considers that the services being required pursuant to this notice are exempt from the Public Contracts Regulations (and Directive 2014/24/EU of the European Parliament and of the Council) as being comprised of services falling within the exemption in regulation 10(1)(e) of the Public Contracts Regulations 2015. Accordingly this represents a voluntary award notice only and not one which it is required to publish to comply with the Public Contracts Regulations.