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Investment Custodian and Trustee Services

Details

Add to Calendar 2020-09-18 2020-09-18 Investment Custodian and Trustee Services

The City is seeking one or more service providers to provide investment custodian and trustee services.

The primary role of the Investment Custodian Service Provider will be to provide trust custody accounts and safe-keeping services for the City’s Consolidated Investment Pool and the Long-Term Investment Program (LTIP).  The City’s $2.5B Consolidated Investment Pool is part of its daily operations and is invested under North Carolina G.S. 159-30 and 159-31. The LTIP has a total market value of approximately $100M and is an investment program in which the City’s long-term capital reserves are invested under expanded investment authorization outlined in State Law G.S. 147-69.2(b)(1)-(6) and (8) to diversify investment assets of the City and provide a funding source for future Other Post-Employment Benefits (OPEB) obligations.

The primary role of the Trustee Services Provider will be to establish, hold, maintain and manage segregated trust accounts in accordance with bond documents and in compliance with federal tax law.

Posting Number 2020-Q3(Jul-Sep)-FN-2356

Anticipated Posting Date 2020-09-18

Commodity Code(s): 94648, 94649, 94656, 94685

The City is seeking one or more service providers to provide investment custodian and trustee services.

The primary role of the Investment Custodian Service Provider will be to provide trust custody accounts and safe-keeping services for the City’s Consolidated Investment Pool and the Long-Term Investment Program (LTIP).  The City’s $2.5B Consolidated Investment Pool is part of its daily operations and is invested under North Carolina G.S. 159-30 and 159-31. The LTIP has a total market value of approximately $100M and is an investment program in which the City’s long-term capital reserves are invested under expanded investment authorization outlined in State Law G.S. 147-69.2(b)(1)-(6) and (8) to diversify investment assets of the City and provide a funding source for future Other Post-Employment Benefits (OPEB) obligations.

The primary role of the Trustee Services Provider will be to establish, hold, maintain and manage segregated trust accounts in accordance with bond documents and in compliance with federal tax law.

Requirements

Last Updated: 09/18/20
Estimated Total Value+
Contract Term+
Insurance Requirements+

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For Questions, Contact:

Shannon Wilson

City Contact

Shannon.Wilson@ci.charlotte.nc.us