ID 4973874 - DoJ - NICTS - Independent Investment Advisory Service for Court Funds Office

Complete

Buyers

Value

£360,000

Classifications

Financial and insurance services
Portfolio management services
Investment banking services and related services
Financial markets administration services
Trust and custody services
Financial consultancy, financial transaction processing and clearing-house services
Financial market regulatory services

Tags

tender

Submission Deadline

1 year ago

Published

2 years ago

Description

The Northern Ireland Court Funds Office (CFO) is an office within the Northern Ireland Courts and Tribunals Service (NICTS), an Agency of the Department of Justice (DOJ). The function of CFO is to administer and manage funds which are brought under court control for a variety of reasons. These include: • where money is awarded to a minor in a civil action; • where a person (a patient) is deemed to be incapable of managing their financial affairs because of mental incapacity; • where monies are lodged in satisfaction or against costs as a token of intention to proceed with litigation. CFO appoints an Investment Manager (the Manager) to provide professional investment management services in relation to the investment of these funds. The service includes making investment recommendations for a client’s funds according to the circumstances of the case, operating a sponsored CREST membership for CFO and processing investment transactions as directed. This service is an advisory service only, as funds can only be invested on the direction of the court. Currently, the role of CFO is overseen by the Court Funds Judicial Liaison Group (JLG), which comprises the Accountant General, members of the judiciary and independent members. The purpose and scope of the contract is to ensure that the quality of advice provided by the Manager is adequately assessed and investment recommendations made in respect of CFO clients are robustly challenged. Please refer to the document entitled ID 4973874 Specification for further information.

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Organisation

Northern Ireland Courts and Tribunals Service NICTS

Body governed by public law

[email protected]

Timeline complete