Appointment of Pension Fund Manager

Appointment of Pension Fund Manager

East Sussex County Council is seeking to establish a framework agreement comprising a number of unconstrained, long-only active global equity managers.

UK-Lewes: pension fund management services

2012/S 160-267423

Contract notice

Services

Directive 2004/18/EC

Section I: Contracting authority

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

East Sussex County Council
County Hall, St Annes Crescent
For the attention of: John Shepherd
BN7 1SF Lewes
UNITED KINGDOM
Telephone: +44 1273481785
E-mail: john.shepherd@eastsussex.gov.uk

Internet address(es):

General address of the contracting authority: www.eastsussex.gov.uk

Further information can be obtained from: Hymans Robertson LLP
20 Waterloo Street
For the attention of: Alan Purdie
G2 6DB Glasgow
UNITED KINGDOM
Telephone: +44 1415667848
E-mail: EASUGESearch@hymans.co.uk
Fax: +44 1415667788
Internet address: www.hymans.co.uk

Specifications and additional documents (including documents for competitive dialogue and a dynamic purchasing system) can be obtained from: Hymans Robertson LLP
20 Waterloo Street
For the attention of: Alan Purdie
G2 6DB Glasgow
UNITED KINGDOM
Telephone: +44 1415667848
E-mail: EASUGESearch@hymans.co.uk
Fax: +44 1415667788
Internet address: www.hymans.co.uk

Tenders or requests to participate must be sent to: Hymans Robertson LLP
20 Waterloo Street
For the attention of: Alan Purdie
G2 6DB Glasgow
UNITED KINGDOM
Telephone: +44 1415667848
E-mail: EASUGESearch@hymans.co.uk
Fax: +44 1415667788
Internet address: www.hymans.co.uk

I.2)Type of the contracting authority
Regional or local authority
I.3)Main activity
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:
Appointment of Pension Fund Manager(s) – Global Equity.
II.1.2)Type of contract and location of works, place of delivery or of performance
Services
Service category No 6: Financial servicesa)Insurances services b)Banking and investment services
NUTS code UKJ22
II.1.3)Information about a public contract, a framework agreement or a dynamic purchasing system (DPS)
The notice involves the establishment of a framework agreement
II.1.4)Information on framework agreement
Framework agreement with several operators
maximum number of participants to the framework agreement envisaged: 6
Duration of the framework agreement

Duration in years: 4

II.1.5)Short description of the contract or purchase(s)
East Sussex County Council is seeking to establish a framework agreement comprising a number of unconstrained, long-only active global equity managers. The investment objective will be substantial outperformance of, provisionally, the MSCI AC World Index (guideline target +2.5 % to +4.0 % p.a. measured over rolling 3 year periods). A wide range of investment styles will be considered. The size of the mandate is expected to lie in the £75m to £125m range. Single or multiple mandates may be awarded concurrently or consecutively within the framework period of four years. Appointees to the framework may still not be awarded a mandate. The Council reserves the right to alter the value of the funds awarded.
II.1.6)Common procurement vocabulary (CPV)

66141000

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:
East Sussex County Council is seeking to establish a framework agreement comprising a number of unconstrained, long-only active global equity managers. The investment objective will be substantial outperformance of, provisionally, the MSCI AC World Index (guideline target +2.5 % to +4.0 % p.a. measured over rolling 3 year periods). A wide range of investment styles will be considered. The size of the mandate is expected to lie in the £75m to £125m range. Single or multiple mandates may be awarded concurrently or consecutively within the framework period of four years. Appointees to the framework may still not be awarded a mandate. The Council reserves the right to alter the value of the funds awarded.
II.2.2)Information about options
Options: no
II.2.3)Information about renewals
This contract is subject to renewal: no
II.3)Duration of the contract or time limit for completion

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:
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
III.2.2)Economic and financial ability
III.2.3)Technical capacity
Information and formalities necessary for evaluating if the requirements are met:
Candidates should complete a Pre Qualification Questionnaire (PQQ). Please contact Hymans Robertson LLP for a copy of the PQQ. Contact details are provided in Annex A.
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.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: Providers must be registered under the terms of the Financial Services and Markets Act 2000 or equivalent law of European Economic Area (EEA) member state. See III.2.3 above.
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
Restricted
IV.1.2)Limitations on the number of operators who will be invited to tender or to participate
Envisaged minimum number 8: and maximum number 14
Objective criteria for choosing the limited number of candidates: As set out in the pre-qualification documents.
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
no
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: 17.9.2012 – 12:00
IV.3.4)Time limit for receipt of tenders or requests to participate
17.9.2012 – 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 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
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: As per the Public Contracts Regulations 2006.
VI.4.3)Service from which information about the lodging of appeals may be obtained

VI.5)Date of dispatch of this notice:17.8.2012

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