Trust and custody services

Tender description

London CIV was authorised as an Alternative Investment Fund Manager (AIFM) and currently has 6 500 000 000 GBP of assets under management. London CIV’s scope of regulatory permissions have been expanded to operate unauthorised Alternative Investment Funds (AIFs). Work is underway to expand the current fund offering to include alternative investments. In support of these strategic objectives, London CIV is seeking to appoint an administrator, global custodian and depositary to support further investments in alternative assets. London LGPS CIV Limited (“London CIV” or “LCIV”) is a Local Government Pension Scheme (LGPS) pool responsible for pooling the investments of 32 London Local Authority (LLAs) pension funds, formed to significantly reduce costs while delivering enhanced overall investment performance. The strategic objectives ofLCIV are to deliver cost savings, provide a broader range of investment opportunities, provide transparency and improved investment outcomes. With over 35 000 000 000 GBP of assets across the 32 LLAs there is significant scope forsuch savings and efficiencies. London CIV was authorised as an Alternative Investment Fund Manager (AIFM) and currently has 6 500 000 000 GBPof assets under management. London CIV’s scope of regulatory permissions have been expanded to operate unauthorised Alternative Investment Funds (AIFs). Work is underway to expand the current fund offering to include alternative investments. In support of these strategic objectives, London CIV is seeking to appoint an administrator, global custodian and depositary to support further investments in alternative assets. AIF Administrator Details of the services should cover the following elements: — Transfer Agency – administer the subscription, redemptions, distributions and switches — Investor Reporting – contract notes, confirmation, valuation statements — Accounting – daily, weekly, monthly or quarterly NAV production, to be determined by fund Global Custodian Details of the services should cover the following elements: — Global Custody — global safe custody of segregated assets, asset administration and cash management if required Depositary Details of the services should cover the following elements: — Safekeeping of Assets, — Cash Monitoring, — Oversight.