Pension Fund Investment Management (Unconstrained Global Equity)

Pension Fund Investment Management (Unconstrained Global Equity)

‘The Council is looking to utilise one or more investment managers on a segregated or pooled basis with a client specific performance objective for the Shropshire County Pension Fund’s Global Equity portfolio’.

UK-Shrewsbury: Pension fund management services

2013/S 021-032904

Contract notice

Services

Directive 2004/18/EC

Section I: Contracting authority

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

Shropshire Council
Shirehall, Abbey Foregate
Contact point(s): Pension Fund Manager
For the attention of: Justin Bridges
SY2 6ND Shrewsbury
UNITED KINGDOM
Telephone: +44 1743252072
E-mail: procurement@shropshire.gov.uk
Fax: +44 1743253910

Internet address(es):

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

Further information can be obtained from: AON Hewitt
25 Marsh Street
For the attention of: Hannah Coleman
BS1 4AQ Bristol
UNITED KINGDOM
Telephone: +44 1179004415
E-mail: hannah.coleman@aonhewitt.com

Specifications and additional documents (including documents for competitive dialogue and a dynamic purchasing system) can be obtained from: AON Hewitt
25 Marsh Street
For the attention of: Hannah Coleman
BS1 4AQ Bristol
UNITED KINGDOM
Telephone: +44 1179004415
E-mail: hannah.coleman@aonhewitt.com

Tenders or requests to participate must be sent to: AON Hewitt
25 Marsh Street
For the attention of: Hannah Coleman
BS1 4AQ Bristol
UNITED KINGDOM
Telephone: +44 1179004415
E-mail: hannah.coleman@aonhewitt.com

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:
UMC 006 – Pension Fund Investment Management (Unconstrained Global Equity).
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: Shropshire.
NUTS code
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)
‘The Council is looking to utilise one or more investment managers on a segregated or pooled basis with a client specific performance objective for the Shropshire County Pension Fund’s Global Equity portfolio’.
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): no
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:
The contract may be let as one or more mandates. The mandate size may vary, but the expected initial mandate size for any one manager is approximately £88m.
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:
See tender documentation.
III.1.2)Main financing conditions and payment arrangements and/or reference to the relevant provisions governing them:
See tender documentation.
III.1.3)Legal form to be taken by the group of economic operators to whom the contract is to be awarded:
Joint and severable liability.
III.1.4)Other particular conditions
The performance of the contract is subject to particular conditions: yes
Description of particular conditions: See tender documentation.
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: Service providers wishing to be considered for inclusion in the tender process must first complete and return a Response to Participate Questionnaire by the date in paragraph IV.3.4. The questionnaire can be obtained on request from Shropshire Council’s Investment Advisors, Aon Hewitt, at the address shown in Annex A.1. The information in the questionnaire shall form the basis for the selection of suppliers to be invited to tender. Depending on the level of response, the Contracting Authority reserves the right to undertake subsequent stages of selection prior to the issue of a formal invitation to tender. The Council assisted by their advisor will undertake the selection of the service providers for admission to the formal bidding stage using the information provided in the Response to Participate Questionnaire, together with any information available to the Council or their Advisors in respect of the service provider’s financial standing and technical ability. Following the formal bidding stage, selected providers will be invited to initial interview and presentation to the Members of the Council’s Pension Committee.
III.2.2)Economic and financial ability
Information and formalities necessary for evaluating if the requirements are met: See II.2.1 above.
III.2.3)Technical capacity
Information and formalities necessary for evaluating if the requirements are met:
See II.2.1 above.
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: See II.2.1 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: yes

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 5: and maximum number 15
Objective criteria for choosing the limited number of candidates: The returned Response to Participate Questionnaire will be evaluated and those receiving the highest evaluation assessment and meeting minimum requirements will be invited to tender.
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:
UMC 006.
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: 1.3.2013
IV.3.4)Time limit for receipt of tenders or requests to participate
7.3.2013 – 12:00
IV.3.5)Date of dispatch of invitations to tender or to participate to selected candidates
2.4.2013
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
VI.3)Additional information
Confirming tenders to be submitted. Enterprises invited to submit a tender should not assume that their selection implies any recognition or acceptance of their suitability to undertake the contract. The contracting authority reserves the right not to award a contract or to award any option(s) it so wishes. Closing date for receipt of tenders is 12 noon, 13 May 2013. The commencement date for this requirement is 1 September 2013.
VI.4)Procedures for appeal
VI.4.1)Body responsible for appeal procedures

See VI.4.2 below

VI.4.2)Lodging of appeals
Precise information on deadline(s) for lodging appeals: The Contracting Authorities will incorporate a minimum 10 calendar day standstill period at the point information on the award of the contract is communicated to tenderers. This period allows unsuccessful tenderers to seek further debriefing from the contracting authority before the contract is entered into. Additional information should be requested from the contact in Section 1.1. If an appeal regarding the award of a contract has not been successfully resolved the Public Contracts Regulations 2006 (S1 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 and Wales).
VI.4.3)Service from which information about the lodging of appeals may be obtained

See VI.4.2 above

VI.5)Date of dispatch of this notice:28.1.2013

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