Pricing Schedules
As part of their application to join the National LGPS Framework for Global Custody Services, each Service Provider submitted a list of ceiling prices based on three different scenarios:
- Scenario 1 – Record Keeping Only
- Scenario 2 – Full Service Custody
- Scenario 3 – LGPS Asset Pool
You will need to review the Pricing Schedules to familiarise yourself with the scenarios and ceiling prices before you finalise your Model Fund Scenario. There are some areas in the Pricing Schedules where Service Providers have supplied further explanation; however it is important to remember that the ceiling prices quoted are the maximum each Service Provider can charge under the Framework.
Model Fund Scenarios
Creating your Model Fund Scenario
You will need to create your own Fund-specific Model Fund Scenario by choosing one of the three Model Fund Scenario templates for your Further Competition. These are:
- Model Fund Scenario 1: Record Keeping Only – this fee model is designed for Funds at Further Competition who do not hold segregated assets and require a custodian to record keep units in pooled Funds or third party holdings (e.g. private equity). These Funds may also subscribe to other services including but not limited to accounting and performance if required.
- Model Fund Scenario 2: Full Service Custody – this fee model is tailored for Funds who hold a combination of both segregated and pooled assets subscribing to a full custody service. The model caters for additional services associated with the safekeeping of segregated assets including but not limited to accounting, performance, risk and compliance. It also incorporates the administration of private equity and fees associated with any derivative positions.
- Model Fund Scenario 3: LGPS Asset Pool – this model represents an asset pool with segregated assets in custody. It incorporates unitisation services, client reporting for underlying Funds and regulatory reporting. The model also provides space to incorporate an ad valorem depositary fee.
Before you complete your Model Fund Scenario, it is important that you think about the services you use and therefore what you need to include in your further competition. If there are elements you do not require you can leave these blank. Alternatively, if there are additional elements you wish to receive a price for you can add these in. The Model Fund Scenarios are constructed to give you a single overall price for allocating the price scoring against. Your completed Model Fund Scenario should be issued alongside your Further Competition.