Pension Scheme Management Tender – University of Bristol

Pension Scheme Management Tender – University of Bristol

The Trustees of the University of Bristol Pension and Assurance Scheme have decided to appoint a provider to manage the assets of the Scheme on a fiduciary basis.

United Kingdom-Bristol: Pension fund management services

2017/S 057-105942

Contract notice

Services

Directive 2014/24/EU

Section I: Contracting authority

I.1)Name and addresses

University of Bristol
1-9 Old Park Hill
Bristol
BS2 8BB
United Kingdom
Contact person: Martyn Dean
Telephone: +44 1179546369
E-mail: martyn.dean@bristol.ac.uk
NUTS code: UKK11Internet address(es):Main address: www.bristol.ac.uk
I.2)Joint procurement

I.3)Communication

The procurement documents are available for unrestricted and full direct access, free of charge, at:https://tenders.bris.ac.uk/
Additional information can be obtained from the abovementioned address
Tenders or requests to participate must be submitted electronically via: https://tenders.bris.ac.uk/
Tenders or requests to participate must be submitted to the abovementioned address

I.4)Type of the contracting authority

Body governed by public law

I.5)Main activity

Education

Section II: Object

II.1)Scope of the procurement

II.1.1)Title:

Fiduciary Management Services for UoB Pension & Assurance Scheme.

Reference number: Fin-0117-001-PC_424

II.1.2)Main CPV code

66141000

II.1.3)Type of contract

Services

II.1.4)Short description:

The Trustees of the University of Bristol Pension and Assurance Scheme have decided to appoint a provider to manage the assets of the Scheme on a fiduciary basis. The University of Bristol has been instructed by the Trustees of the Scheme to run a tender process with the intention of identifying and awarding a contract to the most economically advantageous tender. Any decision to award a contract will be approved by the Scheme’s Trustees.

II.1.5)Estimated total value

Value excluding VAT: 14 000 000.00 GBP

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)

66522000
66523000
66131100
66130000

II.2.3)Place of performance

NUTS code: UKK11
Main site or place of performance:

Bristol.

II.2.4)Description of the procurement:

The Trustees of the University of Bristol Pension and Assurance Scheme have decided to appoint a provider to manage the assets of the Scheme on a fiduciary basis. The University of Bristol has been instructed by the Trustees of the Scheme to run a tender process with the intention of identifying and awarding a contract to the most economically advantageous tender. Any decision to award a contract will be approved by the Scheme’s Trustees.

The scheme has assets of approximately 300 000 000 GBP. The appointed organisation will provide a full fiduciary management service to the Trustees of the University of Bristol Pension and Assurance Scheme (UBPAS), together with the necessary support in respect of the delivery of the administration of the scheme.

The appointed organisation will decide on, oversee, execute or advise on the some or all of the following:

Strategic Asset Allocation,

Tactical Asset Allocation,

Hedging Strategy Implementation,

Manager selection,

Asset class selection,

Portfolio Construction,

Managing scheme liquidity,

Fund reporting,

Trustee Education,

Portfolio Implementation,

Strategic Objectives,

Risk Budget,

Constraints,

Hedging Strategy Design.

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: 96
This contract is subject to renewal: no

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

Envisaged minimum number: 4
Maximum number: 6
Objective criteria for choosing the limited number of candidates:

UoB will apply the criteria set out within the Selection Questionnaire.

II.2.10)Information about variants

Variants will be accepted: no

II.2.11)Information about options

Options: yes
Description of options:

The initial contract period will be for 5 years with an option to extend for a maximum of a further 3 years. The contract period indicated in 11.2.7 assumes that the option to extend is exercised in full.

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

The estimated total value quoted in 11.1.5 includes both fiduciary management fees and investment management fees and is estimated over 8 years.

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:

Candidates are required to provide evidence from the Financial Conduct Authority, or equivalent body, to demonstrate authorisation to undertake the activities of a Fiduciary Manager.

For example: Candidates must be registered in terms of the Financial Services and Markets Act 2000 (FSMA 2000) or equivalent law of the European Economic Area member state to manage the assets of occupational pension funds.

III.1.2)Economic and financial standing

III.1.3)Technical and professional ability

Selection criteria as stated in the procurement documents
III.1.5)Information about reserved contracts
III.2)Conditions related to the contract
III.2.1)Information about 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

Competitive procedure with negotiation
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

Recourse to staged procedure to gradually reduce the number of solutions to be discussed or tenders to be negotiated

IV.1.5)Information about negotiation

The contracting authority reserves the right to award the contract on the basis of the initial tenders without conducting negotiations
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: 24/04/2017
Local time: 12:00
IV.2.3)Estimated date of dispatch of invitations to tender or to participate to selected candidates

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

Duration in months: 6 (from the date stated for receipt of 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

Electronic ordering will be used
Electronic invoicing will be accepted
Electronic payment will be used
VI.3)Additional information:
VI.4)Procedures for review

VI.4.1)Review body

Royal Courts of Justice
Strand
London
United Kingdom
VI.4.2)Body responsible for mediation procedures

VI.4.3)Review procedure

Precise information on deadline(s) for review procedures:

Bidders have the right to appeal as set out in the Public Contracts Regulations 2015. Proceedings under the Public Contracts Regulations 2015 are time limited and any such proceedings must be brought in the High Court of England and Wales.

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

VI.5)Date of dispatch of this notice:

20/03/2017

 

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