---
title: "https://ministryofjusticecommercial.bravosolution.co.uk"
ocid: "ocds-h6vhtk-0354d4"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-0354d4"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-0354d4.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-0354d4.json"
source: "Find A Tender Service"
current_stage: "Award"
buyer: "MINISTRY OF JUSTICE"
published: "2023-09-29"
---

# https://ministryofjusticecommercial.bravosolution.co.uk

Buyer: MINISTRY OF JUSTICE  
Current stage: Award  
OCID: ocds-h6vhtk-0354d4

[View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-h6vhtk-0354d4)  
[Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-0354d4.json)

## Summary

The Ministry of Justice is inviting tenders for managing the Lord Chancellor's Common Investment Fund. This involves appointing an investment manager to handle a fund providing investment opportunities for court funds in England, Wales, and Northern Ireland. The fund currently values around £95.7 million, with a forecasted future value of £350 million. The Ministry requires UK-registered companies to manage the funds. The procurement process has been completed, and Legal & General Investment Management Ltd has been awarded the contract.

This opportunity can be beneficial for businesses in the financial and insurance services sector looking to manage investment funds. Companies with a track record in managing medium to low-risk investments and providing capital growth will find this tender suitable. As the Lord Chancellor's Common Investment Fund caters to various client needs, including capital preservation and income growth, businesses offering diversified investment solutions are encouraged to compete. The contract, worth over £1 million GBP, offers a chance for growth and collaboration in managing significant financial assets for court-related funds.

## Notice

The requirement is for the appointment of an investment manager to manage and control the Lord Chancellor's Common Investment Fund. The purpose of the fund is to provide an investment vehicle for funds in court in England and Wales and separately in Northern Ireland. Funds are held under the jurisdiction of the Official Solicitor and the Public Trustee, and a number of individuals granted permission to invest by the Lord Chancellor.

### Lot Information

Lot 1

The CIF 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% - see additional information for further details. The Authority went to 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 the future product within the CIF are 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 required that companies managing CIF funds be 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.

Renewal: The contract will be reviewed at least 12 months before the expiry of the contract.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/028855-2023 |
| Notice type | Planning Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure |
| Tender suitability | Not specified |
| Awardee scale | Large |
| All stages | Planning, Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 29 Sep 2023 |
| Submission deadline | 30 Dec 2022 |
| Future notice date | 25 Aug 2022 |
| Award date | 13 Jul 2023 |
| Contract period | 1 Feb 2023 - 31 Jan 2030 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | Not specified |
| Lots value | Not specified |
| Awards value | Not specified |
| Contracts value | £1,005,000 |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Cancelled |
| Awards status | Active |
| Contracts status | Active |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | MINISTRY OF JUSTICE |
| Locality | LEEDS |
| Post town | Leeds |
| Postcode | LS1 4AP |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI3 Inner London - West |
| ITL 3 | TLI35 Westminster and City of London |
| Local authority | Westminster |
| Electoral ward | St James's |
| Westminster constituency | Cities of London and Westminster |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | LEGAL & GENERAL INVESTMENT MANAGEMENT |

## CPV Codes

### Divisions

- 66 - Financial and insurance services
- 79 - Business services: law, marketing, consulting, recruitment, printing and security

### Codes

- 66000000 - Financial and insurance services
- 79412000 - Financial management consultancy services

## Release History

- 29 Sep 2023 at 15:14 - Award - Award Notice - https://www.find-tender.service.gov.uk/Notice/028855-2023
- 9 Dec 2022 at 15:07 - Tender - Tender Notice - https://www.find-tender.service.gov.uk/Notice/034960-2022
- 22 Jul 2022 at 12:07 - Planning - Planning Notice - https://www.find-tender.service.gov.uk/Notice/020012-2022

## Notice URLs

- https://ministryofjustice.gov.uk
- https://ministryofjusticecommercial.bravosolution.co.uk
- https://ministryofjusticecommercial.bravosolution.co.uk/
- https://www.gov.uk/government/organisations/ministry-of-justice

## 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-h6vhtk-0354d4. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-0354d4.json.