Management of Active Emerging Global Market Equity Mandate.
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)
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