Global Custodian on behalf of Teesside Pension Fund

Global Custodian on behalf of Teesside Pension Fund

Middlesbrough Borough Council.
Global Custodian on behalf of Teesside Pension Fund
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Middlesbrough Council is the Administering Authority for the Teesside Pension Fund, a Statutory Scheme regulated by the Local Government Pension Scheme (LGPS) regulations. Unlike most public sector schemes the LGPS is a funded scheme with contributions from employers and employees invested in order to meet future liabilities. The Teesside Fund holds investments valued, as at 31 March 2012, at £2.5 billion and, at the last actuarial valuation (March 2010), was 99% funded.
 
 
In particular the appointed custodian will be required to undertake core services:
 
    • To hold master records and be responsible for the safekeeping of all Fund investments, other than externally-invested cash and direct property;

 

    • Collect all dividend and other income relating to the investments held;

 

    • Settle all transactions relating to the investment held;

 

    • Process all corporate actions relating to the investments held;

 

    • Reclaim, where appropriate, tax withheld relating to the investments held;

 

    • Prepare Fund valuations on an agreed basis;

 

    • Hold cash balances for the Fund on an agreed basis;

 

    • Undertake foreign exchange transactions for the Fund on an agreed basis;

 

    • Work with the Fund’s service providers relating to proxy voting, class actions and tax advice;

 
The appointed custodian may be required to undertake non-core services:
 
·        Securities lending;
 
·        Performance measurement;
 
·        Multi-currency accounting.

Contact:
Mrs Rachel Walker
Email Address:
rachel_walker@middlesbrough.gov.uk
Telephone:
01642 729188
Address:
PO BOX 506
Civic Centre
Middlesbrough
Cleveland
TS1 9GA
United Kingdom
Key Dates
01/02/2013
31/01/2019
01/05/2012 11:00
08/06/2012 16:00
Other Information
60 (months)
12 (months)
1

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