Long Term Management of Funding Risk

Long Term Management of Funding Risk

Through a combination of advisory services and asset management techniques to establish an agreed strategy (flight path or road map), with trigger points, that helps to manage risk and to create a less volatile path back to 100 % funding.

UK-Mold: Pension investment services

2012/S 250-414565

Contract notice

Services

Directive 2004/18/EC

Section I: Contracting authority

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

Flintshire County Council as lead authority for the Clwyd Pension Fund
County Hall, Flintshire
For the attention of: Andy Argyle
CH7 6NA Mold
UNITED KINGDOM
Telephone: +44 1352701814
E-mail: procurement@flintshire.gov.uk

Internet address(es):

General address of the contracting authority: http://www.clwydpensionfund.org.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
Other: Pension Fund
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:
Long Term Management of Funding Risk.
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: County Hall, Mold CH7 6NA United Kingdom.
NUTS code UKL23
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)
Long-term Management of Funding Risk.
Through a combination of advisory services and asset management techniques to establish an agreed strategy (flight path or road map), with trigger points, that helps to manage risk and to create a less volatile path back to 100 % funding.
The Fund is currently £1.1 billion and highly diversified. A maximum of 15% of the Fund’s assets would be made available on a phased basis to implement agreed risk management and risk hedging strategies. One provider will be appointed
Community Benefits do not apply to this contract.
II.1.6)Common procurement vocabulary (CPV)

66131100

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:
II.2.2)Information about options
Options: no
II.2.3)Information about renewals
II.3)Duration of the contract or time limit for completion
Starting 19.2.2013. Completion 1.7.2013

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
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 authorised under the Financial Services and Markets Act 2000 and the Local Government Pension Scheme (Management and Investment of Funds) Rugulations 2009. Firms must be Financial Services Authority (FSA) authorised or similarly authorised within the European Economic Area (EEA).
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: yes

Section IV: Procedure

IV.1)Type of procedure
IV.1.1)Type of procedure
Open
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:
FP3065.
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: 4.2.2013 – 17:00
Payable documents: no
IV.3.4)Time limit for receipt of tenders or requests to participate
11.2.2013 – 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
Duration in months: 6 (from the date stated for receipt of tender)
IV.3.8)Conditions for opening of tenders

Section VI: Complementary information

VI.1)Information about recurrence
VI.2)Information about European Union funds
VI.3)Additional information
Buy4Wales Reference Number: 33145.
VI.4)Procedures for appeal
VI.4.1)Body responsible for appeal procedures

See Section VI.4.2
See Section VI.4.2
UNITED KINGDOM

VI.4.2)Lodging of appeals
Precise information on deadline(s) for lodging appeals: Flintshire County Council will incorporate a minimum 10 calendar day stand-still period at the point information on the award of the contract is communicated to tenderers. This period allows unsuccesful tenderers to seek further debriefing from the contracting authority before the contract is entered into, in line with the new Remedies Directive. Applicants have 2 working days from the notification of the award decision to request additional debriefing and that information should be required from the contract in part I.1. If an appeal regarding the award of the contract has not been successfully resolved the Public Contracts Rugulations 2006 (SI 2006 No.5) provide for aggrieved parties who have been harmed or are at risk of harm by a breach of the rules to take action in the High Court (England, Wales & Northern Ireland). In accordance with the Public Contracts Regulations 2006 (as amended) a claimant must generally start proceedings in the High Court within 30 days beginning with the date on which he first knew or ought to have known that grounds for bringing such proceedings had arisen. Where a contract has not neen entered into, the court may order the setting aside of the award decision or order the authority to amend any document and may award damages. If the Contract has been entered into, the Court may only award damages.
VI.4.3)Service from which information about the lodging of appeals may be obtained

Flintshire County Council as lead authority for the Clwyd Pension Fund
County Hall
CH7 6NA Mold
UNITED KINGDOM

VI.5)Date of dispatch of this notice:27.12.2012

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