Provision of Investment Services for the Public Trustee

Description

This contract is for the provision of Investment Services to the Public Trustee. The Public Trustee acts as executor or administrator of estates and as the appointed trustee of settlements. In addition, the Public Trustee is the legal holder of land under Part IV of the First Schedule to the Law of Property Act 1925 and Part V of the First Schedule to the Law of Property Act 1925. The Public Trustee holds real and personal property such as stocks and shares (“securities”), cash and land. An estate is where the Public Trustee has been appointed as executor of a deceased person’s will or as administrator of an estate of a person who has died without a will. An executor/administrator collects all the deceased’s assets and pays all of the debts before distributing what remains to the beneficiaries named in the will or, if there is no will, who is entitled by law to this. Where the Public Trustee has been appointed to act as a trustee, she has a duty to invest the capital held to produce income to use or pay for the benefit of the beneficiaries of the trust. It is a legal responsibility of the Public Trustee as Trustees to obtain professional investment advice when managing the assets. Lot 1: Scope of Work The procurement concerns the provision of discretionary investment management services to the Public Trustee. Under this arrangement, the appointed investment manager will make investment decisions on behalf of the Public Trustee, in accordance with policy documents provided during the account setup process. All referred funds must be accepted, regardless of value. The Supplier must: Be authorised under the Financial Services and Markets Act 2000 and experienced in working with trustees, executors, and administrators. Provide services equivalent to those offered to professional trustees, including both discretionary and advisory investment management. Deliver at least two valuations per year per trust, with additional reports on request. Produce annual investment reports detailing transactions, holdings, valuations, and performance, with supporting evidence for each transaction. Maintain nominee arrangements and custody of investments. Manage dividends and facilitate beneficiary payments as instructed. Provide HMRC-compliant valuations and annual tax reports (CGT and income) as of 5th April.