The Public Sector Deposit Fund

The Public Sector Deposit Fund is an innovative money market fund managed by CCLA that offers the substantial benefits of cooperation between public sector bodies. It is a cash management solution designed by the sector, for the sector.

Local authorities and other public sector bodies are responsible for the cost effective delivery of services to residents and businesses. One important element of this is the management of daily cash flows which is a matter of balancing three requirements – low risk, adequate daily liquidity and optimised returns.

This apparently straightforward task does, however, carry significant challenges. This was clearly demonstrated in 2008 when the failure of Icelandic banks left many public sector depositors with large capital losses.

The fund offers the public sector a unique solution – it is a UK domiciled, FCA regulated money market fund, wholly aligned with the principles and values of the public sector. A pooling of public sector deposits in the fund will provide the advantages of scale and diversification, while spreading and sharing the costs of the expert management required in a fast moving world.

Contact us if you’re a local authority or public sector body interested in the responsible management of your cash balances.

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Disclosures

Investment in the Fund is for Public Sector Eligible Investors Only.

Investors should note that CCLA may change the fund documentation to allow for negative interest rates to be passed on to investors. This means that in the event that interest rates on sterling deposits and instruments become negative, the fund assets may be charged these negative interest rates rather than earning interest, and this will be reflected in the value of an investor’s interest in the fund.

Past performance is not an indicator of future performance. The value of investments and the income derived from them may fall as well as rise.  Investors may not get back the amount originally invested and may lose money. Any forward looking statements are based upon our current opinions, expectations and projections. We undertake no obligations to update or revise these. Actual results could differ materially from those anticipated.

CCLA operates a Remuneration Policy, which sets out the principles governing the remuneration system of both CCLA Investment Management Ltd and CCLA Fund Managers Limited, collectively known as CCLA. CCLA’s Remuneration Policy can be found on the website at www.ccla.co.uk.

The Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority as a UCITS Scheme and is a Qualifying Money Market Fund.  Investments and deposits in the Fund and the Fund are covered by the Financial Services Compensation Scheme (FSCS). However, the Manager may also pay fair compensation on eligible claims arising from its negligence or error in the management and administration of the Fund.

CCLA Investment Management Limited (registered in England No. 2183088 at Registered office Senator House, 85 Queen Victoria Street, London EC4V 4ET) is authorised and regulated by the Financial Conduct Authority.