Appointment of a Fund Administrator and Depositary for a UK ACS Fund

Appointment of a Fund Administrator and Depositary for a UK ACS Fund

Services to be provided may include but not limited to fund accounting, fund administration, transfer agency, global custody (including safekeeping of assets, trade settlement, tax collection, corporate actions, proxy voting), performance measurement, foreign exchange, cash management, and on-line reporting.

United Kingdom-London: Trust and custody services

2014/S 141-253125

Contract notice

Services

Directive 2004/18/EC

Section I: Contracting authority

I.1)Name, addresses and contact point(s)

London LGPS CIV Ltd
59½ Southwark Street
Contact point(s): London LGPS CIV Ltd, 59½ Southwark Street, London SE1 0AL
For the attention of: Freddie Fuller
SE1 0AL London
UNITED KINGDOM
Telephone: +44 2079349844
E-mail: pensionsciv@londoncouncils.gov.uk

Internet address(es):

General address of the contracting authority: http://www.londoncouncils.gov.uk/policylobbying/localgovernmentfinance/civpensions/

Further information can be obtained from: The above mentioned contact point(s)

Specifications and additional documents (including documents for competitive dialogue and a dynamic purchasing system) can be obtained from: The above mentioned contact point(s)

Tenders or requests to participate must be sent to: The above mentioned contact point(s)

I.2)Type of the contracting authority

Regional or local authority

I.3)Main activity

General public services

I.4)Contract award on behalf of other contracting authorities

The contracting authority is purchasing on behalf of other contracting authorities: no

Section II: Object of the contract

II.1)Description

II.1.1)Title attributed to the contract by the contracting authority:

Provision of Fund Administration and Depositary Services for London LGPS CIV Ltd.

II.1.2)Type of contract and location of works, place of delivery or of performance

Services
Service category No 6: Financial services a) Insurances services b) Banking and investment services

NUTS code UKI12

II.1.3)Information about a public contract, a framework agreement or a dynamic purchasing system (DPS)

The notice involves a public contract
II.1.4)Information on framework agreement

II.1.5)Short description of the contract or purchase(s)

Appointment of a Fund Administrator and Depositary for a UK ACS Fund. Services to be provided may include but not limited to fund accounting, fund administration, transfer agency, global custody (including safekeeping of assets, trade settlement, tax collection, corporate actions, proxy voting), performance measurement, foreign exchange, cash management, and on-line reporting.
Please note London Councils are managing the procurement on behalf of the ACS Operator, with whom the final contracts will be executed.

II.1.6)Common procurement vocabulary (CPV)

661600006616200066170000

II.1.7)Information about Government Procurement Agreement (GPA)

The contract is covered by the Government Procurement Agreement (GPA): yes

II.1.8)Lots

This contract is divided into lots: no

II.1.9)Information about variants

Variants will be accepted: no
II.2)Quantity or scope of the contract

II.2.1)Total quantity or scope:

It is anticipated the contract will have a contract award date in Q4 2014 and a start date for the provision of services during Q2 2015. The Fund has targeted an initial market value of approximately GBP 5bn with a yet unknown amount of segregated assets requiring safe-keeping and yet unknown amount in pooled funds held at third parties.
We anticipate possible annual fees of between GBP 50 000 — 500 000 over the course of the contract.
Estimated value excluding VAT:
Range: between 50 000 and 500 000 GBP

II.2.2)Information about options

Options: yes
Description of these options: The contract is for an initial period of 5 years with the option to extend for a further 5 years.

II.2.3)Information about renewals

This contract is subject to renewal: no

II.3)Duration of the contract or time limit for completion

Starting 1.4.2015. Completion 31.3.2020

Section III: Legal, economic, financial and technical information

III.1)Conditions relating to the contract
III.1.1)Deposits and guarantees required:
III.1.2)Main financing conditions and payment arrangements and/or reference to the relevant provisions governing them:

III.1.3)Legal form to be taken by the group of economic operators to whom the contract is to be awarded:

Joint and Several Liability. Where bids are submitted as part of a consortium or association, the ‘group’ would be required to nominate a lead partner with whom the Contracting Authority can contract with or form themselves into a single legal entity.

III.1.4)Other particular conditions

The performance of the contract is subject to particular conditions: no
III.2)Conditions for participation

III.2.1)Personal situation of economic operators, including requirements relating to enrolment on professional or trade registers

Information and formalities necessary for evaluating if the requirements are met: As per the minimum criteria section of the tender and the requirements of Regulation 23 of the Public Contacts Regulations 2006. Candidates must be registered under the terms of the Financial Services and Markets Act 2000 or equivalent law of European Economic Area (EEA) member state. Proof of registration should be provided.

III.2.2)Economic and financial ability

Information and formalities necessary for evaluating if the requirements are met: As per the requirements of Regulation 23 of the Public Contracts Regulations 2006 and as detailed in the PQQ document and subject to any further requirements during the process; details of corporate structure and ownership, external credit assessments, outstanding litigation/claims, insurance coverage, acceptable financial standing.
Minimum level(s) of standards possibly required: As per the requirements of Regulation 23 of the Public Contracts Regulations 2006 and as detailed in the PQQ document. Candidates and associated holding companies must have a minimum long term deposit credit rating of at least A2 / A / A (Moody’s / S&P / Fitch) from 2 providers.

III.2.3)Technical capacity

Information and formalities necessary for evaluating if the requirements are met:
As per the requirements of regulation 23 of the Public Contracts Regulations 2006 and as detailed in the PQQ document.
Minimum level(s) of standards possibly required:
As per the requirements of Regulation 23 of the Public Contracts Regulations 2006 and as detailed in the PQQ document. Candidates must be registered under the terms of the Financial Services and Markets Act 2000 or equivalents law of European Economic Area (EEA) member state. Proof of registration should be provided.
III.2.4)Information about reserved contracts
III.3)Conditions specific to services contracts

III.3.1)Information about a particular profession

Execution of the service is reserved to a particular profession: yes
Reference to the relevant law, regulation or administrative provision: Candidates must be registered under the terms of the Financial Services and Markets Act 2000 or equivalent law of European Economic Area (EEA) member state. Proof of registration should be provided.

III.3.2)Staff responsible for the execution of the service

Legal persons should indicate the names and professional qualifications of the staff responsible for the execution of the service: no

Section IV: Procedure

IV.1)Type of procedure

IV.1.1)Type of procedure

competitive dialogue
IV.1.2)Limitations on the number of operators who will be invited to tender or to participate
IV.1.3)Reduction of the number of operators during the negotiation or dialogue
IV.2)Award criteria

IV.2.1)Award criteria

The most economically advantageous tender in terms of the criteria stated in the specifications, in the invitation to tender or to negotiate or in the descriptive document

IV.2.2)Information about electronic auction

An electronic auction will be used: no
IV.3)Administrative information
IV.3.1)File reference number attributed by the contracting authority:
IV.3.2)Previous publication(s) concerning the same contract

IV.3.3)Conditions for obtaining specifications and additional documents or descriptive document

Time limit for receipt of requests for documents or for accessing documents: 1.8.2014 – 11:45
Payable documents: no

IV.3.4)Time limit for receipt of tenders or requests to participate

19.8.2014 – 12:00
IV.3.5)Date of dispatch of invitations to tender or to participate to selected candidates

IV.3.6)Language(s) in which tenders or requests to participate may be drawn up

English.
IV.3.7)Minimum time frame during which the tenderer must maintain the tender
IV.3.8)Conditions for opening of tenders

Section VI: Complementary information

VI.1)Information about recurrence

This is a recurrent procurement: no

VI.2)Information about European Union funds

The contract is related to a project and/or programme financed by European Union funds: no

VI.3)Additional information

You will need to register with the www.competefor.com to record your expression of interest and to download the PQQ documentation.

VI.4)Procedures for appeal
VI.4.1)Body responsible for appeal procedures

VI.4.2)Lodging of appeals

Precise information on deadline(s) for lodging appeals: A minimum 10 calendar day standstill period at the point of information on the award of the contract will be communicated to tenderers. The communication will contain contact details.
VI.4.3)Service from which information about the lodging of appeals may be obtained

VI.5)Date of dispatch of this notice:

22.7.2014

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