Appointment of Pension Fund Manager for Strathclyde Pension Fund

Appointment of Pension Fund Manager for Strathclyde Pension Fund

Appointment of Pension Fund Manager – Emerging Market Debt.

United Kingdom-Glasgow: Pension fund management services

2016/S 148-267596

Contract notice

Services

Directive 2014/24/EU

Section I: Contracting authority

I.1)Name and addresses

Glasgow City Council as the administering authority for the Strathclyde Pension Fund
Strathclyde Pension Fund Office, PO Box 27001
Glasgow
G2 9EW
United Kingdom
Contact person: Jacqueline Gillies
Telephone: +44 1412875186
E-mail: jacqueline.gillies@fs.glasgow.gov.uk
NUTS code: UKM34
Internet address(es):Main address: www.spfo.org.uk
I.2)Joint procurement

I.3)Communication

The procurement documents are available for unrestricted and full direct access, free of charge, at:www.publiccontractsscotland.gov.uk
Additional information can be obtained from another address:
Hymans Robertson LLP
20 Waterloo Street
Glasgow
G2 6DB
United Kingdom
E-mail: strathclydeEMDsearch@hymans.co.uk
NUTS code: UKM34
Internet address(es):Main address: www.hymans.co.uk
Tenders or requests to participate must be submitted to the following address:
Hymans Robertson LLP
20 Waterloo Street
Glasgow
G2 6DB
United Kingdom
E-mail: strathclydeEMDsearch@hymans.co.uk
NUTS code: UKM34
Internet address(es):Main address: www.hymans.co.uk

I.4)Type of the contracting authority

Regional or local authority

I.5)Main activity

General public services

Section II: Object

II.1)Scope of the procurement

II.1.1)Title:

Appointment of Pension Fund Manager – Emerging Market Debt.

II.1.2)Main CPV code

66141000

II.1.3)Type of contract

Services

II.1.4)Short description:

Glasgow City Council is seeking to appoint an investment manager for an Active Emerging Market Debt mandate. Managers and proposed mandates will need to be able to comply with LGPS regulations. Pooled and segregated mandates will be considered. The proposed mandate size is up to 250 000 000 GBP. Glasgow City Council reserves the right to alter the value and coverage of the mandate both initially and over the period of the mandate. The mandate will invest in a range of emerging market debt categories, including local and hard currency sovereigns and corporates. There will be no minimum restrictions on asset categories within the diversified mandate. The aim is to achieve meaningful returns above a blended benchmark return. The return target of the mandate will be subject to discussion however returns will be expected to be generated from asset allocation, duration and currency positions.

II.1.5)Estimated total value

II.1.6)Information about lots

This contract is divided into lots: no
II.2)Description
II.2.1)Title:

II.2.2)Additional CPV code(s)

66141000

II.2.3)Place of performance

NUTS code: UKM34
Main site or place of performance:

Strathclyde.

II.2.4)Description of the procurement:

Glasgow City Council is seeking to appoint an investment manager for an Active Emerging Market Debt mandate. Managers and proposed mandates will need to be able to comply with LGPS regulations. Pooled and segregated mandates will be considered.

The proposed mandate size is up to 250 000 000 GBP. Glasgow City Council reserves the right to alter the value and coverage of the mandate both initially and over the period of the mandate. The mandate will invest in a range of emerging market debt categories, including local and hard currency sovereigns and corporates. There will be no minimum restrictions on asset categories within the diversified mandate. The aim is to achieve meaningful returns above a blended benchmark return. The return target of the mandate will be subject to discussion however returns will be expected to be generated from asset allocation, duration and currency positions.

ESPD means the European Single Procurement Document referred to in regulation 59(1) of the Public Contracts (Scotland) Regulations 2015.

The following minimum standards are required for this search:

— Tenderers must be registered in terms of the Financial Services and Markets Act 2000, or equivalent law of European Economic Area (EEA) member state to manage the assets of occupational pension funds;

— Tenderers must be able to comply with appropriate Local Government Pension Scheme (‘LGPS’) regulations;

— Tenderers must provide satisfactory answers to the questions asked in the Council Questions section of the ESPD;

— Tenderers must have a minimum track record for the Emerging Market Debt mandate of 5 years;

— The preferred approach would be to invest through a segregated mandate. However, the approach must comply with the requirements of the LGPS regulations and as such a pooled fund or bespoke mandate within a pooled wrapper would be considered. Candidates are asked to confirm that they are able to offer an approach which meets with the LGPS regulatory requirements.

II.2.5)Award criteria

Price is not the only award criterion and all criteria are stated only in the procurement documents
II.2.6)Estimated value

II.2.7)Duration of the contract, framework agreement or dynamic purchasing system

Duration in months: 60
This contract is subject to renewal: yes
Description of renewals:

Contract to be renewed on a rolling 5 year basis as appropriate.

II.2.9)Information about the limits on the number of candidates to be invited

Envisaged minimum number: 6
Maximum number: 8

II.2.10)Information about variants

Variants will be accepted: no

II.2.11)Information about options

Options: no
II.2.12)Information about electronic catalogues

II.2.13)Information about European Union funds

The procurement is related to a project and/or programme financed by European Union funds: no
II.2.14)Additional information

Section III: Legal, economic, financial and technical information

III.1)Conditions for participation

III.1.1)Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers

List and brief description of conditions:

Suitability as set out in tender documentation.

III.1.2)Economic and financial standing

Selection criteria as stated in the procurement documents

III.1.3)Technical and professional ability

List and brief description of selection criteria:

Candidates should complete a European Single Procurement Document (ESPD). Please contact Hymans Robertson LLP for a copy of the ESPD. Contact details are provided in Section I.3)

Minimum level(s) of standards possibly required:

Candidates should be regulated by the UK Financial Services Authority (FSA) or European Economic Member State equivalent body. Providers must be able to comply with the appropriate LGPS regulations.

III.1.5)Information about reserved contracts
III.2)Conditions related to the contract

III.2.1)Information about a particular profession

Execution of the service is reserved to a particular profession
III.2.2)Contract performance conditions:
III.2.3)Information about staff responsible for the performance of the contract

Section IV: Procedure

IV.1)Description

IV.1.1)Type of procedure

Restricted procedure
IV.1.3)Information about a framework agreement or a dynamic purchasing system
IV.1.4)Information about reduction of the number of solutions or tenders during negotiation or dialogue
IV.1.6)Information about electronic auction

IV.1.8)Information about the Government Procurement Agreement (GPA)

The procurement is covered by the Government Procurement Agreement: yes
IV.2)Administrative information
IV.2.1)Previous publication concerning this procedure

IV.2.2)Time limit for receipt of tenders or requests to participate

Date: 29/08/2016
Local time: 12:00

IV.2.3)Estimated date of dispatch of invitations to tender or to participate to selected candidates

Date: 29/08/2016

IV.2.4)Languages in which tenders or requests to participate may be submitted:

English
IV.2.6)Minimum time frame during which the tenderer must maintain the tender
IV.2.7)Conditions for opening of tenders

Section VI: Complementary information

VI.1)Information about recurrence

This is a recurrent procurement: no
VI.2)Information about electronic workflows

VI.3)Additional information:

Note: To register your interest in this notice and obtain any additional information please visit the Public Contracts Scotland Web Site at http://www.publiccontractsscotland.gov.uk/Search/Search_Switch.aspx?ID=455077

(SC Ref: 455077).

VI.4)Procedures for review

VI.4.1)Review body

Glasgow City Council
Glasgow
United Kingdom
VI.4.2)Body responsible for mediation procedures

VI.4.3)Review procedure

Precise information on deadline(s) for review procedures:

Glasgow City Council will incorporate a minimum 10 calendar day standstill period at the point of information on the award of the contract is communicated to the tenderers. This period allows unsuccessful tenderers to seek further debriefing from the contracting authority before the contract is entered into. Such additional information should be acquired from the procurement officer (see details in Section I.1) of the Contract Notice). If an appeal regarding the award of the contract has not been successfully resolved, the Public Contracts (Scotland) Regulations 2012 provide for aggrieved parties who have been harmed or are at risk of harm by a breach of the rule to take action in the Sheriff Court or Court of Session.

VI.4.4)Service from which information about the review procedure may be obtained

VI.5)Date of dispatch of this notice:

01/08/2016

 

Related Posts

LGSS Treasury Consultancy Framework

Financial Modelling and Cost Consultancy London

Provide Insolvency Services in Scotland

Tax and Financial Consultancy Tender

Enjoyed this post? Share it!