Investment Managers Invitation to Tender

Investment Managers Invitation to Tender

Management of Active Emerging Global Market Equity Mandate.

United Kingdom-London: Pension fund management services

2016/S 004-003979

Contract notice

Services

Directive 2004/18/EC

Section I: Contracting authority

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

Royal Borough of Greenwich
35 Wellington Street, Woolwich
Contact point(s): Procurement
For the attention of: Glynis Ford
SE18 6HQ London
UNITED KINGDOM
Telephone: +44 2089215108
E-mail: procurement@royalgreenwich.gov.uk

Internet address(es):

General address of the contracting authority: http://www.royalgreenwich.gov.uk

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
Economic and financial affairs

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:

Management of Active Emerging Global Market Equity Mandate.

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
Main site or location of works, place of delivery or of performance: Royal Borough of Greenwich.

NUTS code UKI21

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)

Royal Borough of Greenwich Pension Fund wishes to invite potential investment managers to tender for providing their services in the management of an active global emerging markets equity mandate. Royal Borough of Greenwich Pension Fund is seeking to appoint a single manager to manage an active equity mandate. Performance will be measured against the MSCI Emerging Markets Index. The target outperformance is expected to be around 2-4 % p.a. A solution based on existing pooled funds will be preferred. The overall mandate size is expected to be approximately 100 000 000 GBP. Royal Borough of Greenwich reserves the right to alter the value and coverage of the mandate both initially and over the life of the mandate.

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:

Royal Borough of Greenwich Pension Fund wishes to invite potential investment managers to tender for providing their services in the management of an active global emerging markets equity mandate. Royal Borough of Greenwich Pension Fund is seeking to appoint a single manager to manage an active equity mandate. Performance will be measured against the MSCI Emerging Markets Index. The target outperformance is expected to be around 2-4 % p.a. A solution based on existing pooled funds will be preferred. The overall mandate size is expected to be approximately 100 000 000 GBP. Royal Borough of Greenwich reserves the right to alter the value and coverage of the mandate both initially and over the life of the mandate.

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
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:
All potential providers will be required to complete a pre qualification questionnaire for evaluation. This will be despatched from the main contact point as advised.
Minimum level(s) of standards possibly required:
Candidates should be regulated by the UK Financial Conduct Authority (FCA) or European Economic Member State equivalent body. Providers must be able to comply with 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

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

Objective criteria for choosing the limited number of candidates: Up to a possible maximum of 12.
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:

SPS 1003

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: 3.2.2016
Payable documents: no

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

4.2.2016 – 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: yes
Estimated timing for further notices to be published: January 2026.

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

Candidates will be invited for interview if they meet or exceed the marks given in the tender documents.
The contract Term will be a maximum of 10 years, Royal Borough of Greenwich does however reserve the right that at any time during the term 1 day (24 hours) Notice of Termination will be given.
VI.4)Procedures for appeal

VI.4.1)Body responsible for appeal procedures

Royal Courts of Justice, The Strand
WC2A 2LL London

VI.4.2)Lodging of appeals

Precise information on deadline(s) for lodging appeals: Royal Borough of Greenwich has incorporated a minimum 10 calendar day Standstill Period after notification to unsuccessful applicants of the award decision. The Public Contracts (Amendments) Regulations 2009 provide for remedies through the High courts (England, Wales and Northern Ireland) to be sought by economic operators who suffer (or risk suffering)loss or damage as a consequence of a failure by the Royal Borough of Greenwich to comply with certain provisions of those regulations and/or certain EU Community obligations relating to procurement.
In summary OJ/S S133
15.7.2014
239084-2014-EN
Member states – Service contract – Contract notice – Restricted procedure
6/6
15/07/2014S133

http://ted.europa.eu/TED

Member states – Service contract – Contract notice – Restricted procedure
Supplement to the Official Journal of the European Union
6/6
proceedings must be brought promptly and in any event within 30 days of the date on which grounds for bringing proceedings first arise.

VI.4.3)Service from which information about the lodging of appeals may be obtained

Cabinet Office
70 Whitehall
SW1A 2AS London

VI.5)Date of dispatch of this notice:

5.1.2016

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