--- title: "Lord Chancellor Investment Fund" ocid: "ocds-b5fd17-93300996-d11f-4184-a015-6601bc96f27e" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-93300996-d11f-4184-a015-6601bc96f27e" markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-93300996-d11f-4184-a015-6601bc96f27e.md" json_url: "https://d3tenders.com/contract/ocds-b5fd17-93300996-d11f-4184-a015-6601bc96f27e.json" source: "Contracts Finder" current_stage: "Planning" buyer: "MINISTRY OF JUSTICE" published: "2022-08-05" --- # Lord Chancellor Investment Fund Buyer: MINISTRY OF JUSTICE Current stage: Planning OCID: ocds-b5fd17-93300996-d11f-4184-a015-6601bc96f27e [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-93300996-d11f-4184-a015-6601bc96f27e) [Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-93300996-d11f-4184-a015-6601bc96f27e.json) ## Summary The Ministry of Justice is initiating a procurement process for the 'Lord Chancellor Investment Fund', which falls under the financial and insurance services category. This process is currently in the planning stage, with a deadline for future notices set for 5th August 2022. The anticipated contract period will commence on 17th February 2023 and extend until 16th February 2029, with an option to extend for an additional two years. The total estimated value of this opportunity is £350 million, as it pertains to the management of both existing and prospective investment products. The delivery addresses for the fund management include various locations, from the UK to overseas territories. This tender presents a significant opportunity for financial service providers, particularly those specialising in investment management. Businesses that are well-suited to compete include fund managers registered in the UK that can offer medium to low-risk investment solutions, capital growth options, and a diverse range of products tailored to the differing needs of clients. With the Ministry of Justice seeking innovative investment strategies and the potential for a contract lasting up to seven years, this is an excellent opportunity for firms looking to expand their portfolio in public sector contracts. ## Notice The requirement is for the appointment of an investment manager to manage and control the Lord Chancellor's Investment Fund. For the provision of and the management of suitable investment vehicles for funds held in court which are subject to the provision of the Lord Chancellor's Common Investment Fund (CIF) Additional information: The CIF currently contains one product, the Equity Index Tracker Fund, which is for higher value clients. It is based on three underlying funds: Future World UK Equity Index, Future World Developed Equities Index and Global Emerging Markets (L class). The total Fund is split 55%, 35%, 10% among these three vehicles. Total value of the Fund as at 31 March 2022, value circa PS95.7m covering circa 4,820,051 units. The Lord Chancellor also manages a range of lower value or shorter term client deposits out with the CIF via deposit accounts currently paying 1.25% The Authority wishes to revisit the market in order to establish whether there may be other suitable investment products for a new arrangement covering both the current CIF funds and also some circa PS100m - PS200m of the other funds. The aims of any future product within the CIF would be to provide relatively secure investment returns (medium to low risk) and capital growth for those with less to invest and/or a shorter term horizon. This might require more than one product to cover the differing needs in terms of shorter term and longer term clients, or providing for clients who may have a need for income as well as capital growth. Protection against capital loss might be achieved via risk mitigation or diversification measures. The risk profile means that passive/index-based approaches to asset classes are expected to be used. The Authority requires that companies managing CIF funds are registered in the UK. The estimated value of PS350m is a forecast of future needs based on the amount of funds currently being managed inside and outside the existing CIF but which may become subject to a future CIF if suitable products are available. It is envisaged that the term of the contract will be 5 years with provision to extend for a further 2 years (7 years in total). ## Key Details | Field | Value | | --- | --- | | Publication source | Contracts Finder | | Latest notice | https://www.contractsfinder.service.gov.uk/Notice/0c2ceabe-5412-4e9e-96af-76b39c6893f5 | | Notice type | Planned Procurement Notice | | Procurement type | Standard | | Procurement category | Not specified | | Procurement method | Not Specified | | Procurement method details | Not specified | | Tender suitability | SME | | Awardee scale | Not specified | | All stages | Planning | ## Dates | Field | Value | | --- | --- | | Publication date | 5 Aug 2022 | | Submission deadline | Not specified | | Future notice date | 5 Aug 2022 | | Award date | Not specified | | Contract period | 17 Feb 2023 - 16 Feb 2029 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | Not specified | | Lots value | Not specified | | Awards value | Not specified | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Planned | | Lots status | Not specified | | Awards status | Not specified | | Contracts status | Not specified | ## Buyer | Field | Value | | --- | --- | | Main buyer | MINISTRY OF JUSTICE | | Locality | LEEDS | | Post town | Leeds | | Postcode | LS1 4AP | | Country | England | | ITL 1 | TLE Yorkshire and The Humber | | ITL 2 | TLE4 West Yorkshire | | ITL 3 | TLE42 Leeds | | Local authority | Leeds | | Electoral ward | Hunslet & Riverside | | Westminster constituency | Leeds South | | Delivery location | Not specified | ## CPV Codes ### Divisions - 66 - Financial and insurance services ### Codes - 66000000 - Financial and insurance services ## Release History - 5 Aug 2022 at 10:30 - Planning - Planned Procurement Notice - https://www.contractsfinder.service.gov.uk/Notice/0c2ceabe-5412-4e9e-96af-76b39c6893f5 ## Documents - https://www.contractsfinder.service.gov.uk/Notice/0c2ceabe-5412-4e9e-96af-76b39c6893f5 5th August 2022 - Future opportunity notice on Contracts Finder ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-93300996-d11f-4184-a015-6601bc96f27e. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-93300996-d11f-4184-a015-6601bc96f27e.json.