Pension Fund Management Hertfordshire County Council
Provision of an alternatives manager for Hertfordshire County Council Pension Fund.
UK-Hertford: pension fund management services
Section I: Contracting authority
Hertfordshire County Council
Strategic Procurement Group, Leahoe Annexe, County Hall
Contact point(s): Please refer to Section VI.2 (Complementary Information)
For the attention of: Chris Mulhall
SG13 8DQ Hertford
Telephone: +44 1707292460
Fax: +44 1992588416
General address of the contracting authority: http://supplyhertfordshire.g2b.info/hpf/
Address of the buyer profile: www.hertsdirect.org
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)
Section II: Object of the contract
Service category No 6: Financial servicesa)Insurances services b)Banking and investment services
NUTS code UKH23
Hertfordshire County Council Pension Fund is seeking to appoint a provider to manage a diversified portfolio of alternative assets on a fiduciary basis. Applicants must be able to gain exposure to a broad range of alternative asset classes on a global basis. This portfolio would be expected to include a number of the following asset classes, although it would not be limited to these categories:
— Active currency,
— Emerging market debt,
— Hedge funds,
— High yield bonds,
— Insurance-linked securities,
— Private equity,
— Timberland & agriculture.
It is expected that the preferred approach will generate net excess returns over three month Sterling LIBOR by a significant margin (expected to be 3-5 %), with a volatility of approximately two thirds that of equities. The size of the mandate is anticipated to be between 200 000 000 GBP and 300 000 000 GBP. Providers using a multi-manager fund of fund approach, internally managed funds or a combination of the 2 will be considered. Because there will be portfolio guideline limits applied, only segregated solutions will be considered. Investment managers, fiduciary managers and consultants providing implemented solutions are encouraged to apply. The Council reserves the right to alter the value of funds awarded and may split the contract among providers.
This contract shall have a contract period of five (5) years with the option to extend on an annual basis for up to a maximum of a further five (5) years at the sole discretion of the Council. However, under the Local Government Pension Scheme Regulations, the Pension Fund may terminate the contract at any time. The estimated total value of the contract stated below is for the first 5 years only, and does not include the value of any extension period. Further details of the requirement are available on the following link: http://supplyhertfordshire.g2b.info/hpf/.
Estimated value excluding VAT:
Range: between 3 750 000 and 12 500 000 GBP
Section III: Legal, economic, financial and technical information
Section IV: Procedure
Section VI: Complementary information
Hertfordshire County Council has moved to a new way of e-Tendering and worked closely with its Districts and Partners to create a joint procurement website called Supply Hertfordshire. This web site is supported by BiP Solutions who provide a system called Delta which is the background platform to Supply Hertfordshire. The pre-qualification process this tender is a 2 stage process and you will only be invited to tender if you have successfully passed through the pre-qualification questionnaire (PQQ) stage. If you wish to be considered as a tenderer you must complete and submit a completed PQQ via 12 noon on Monday 30.4.2012. PQQs cannot be uploaded after the closing date/time. Step 1: Registering with Supply Hertfordshire:
To participate in this tender you will need to go into http://supplyhertfordshire.g2b.info/hpf/ and register, thereafter you will be issued with a Username and Password. (If you have already registered with Delta or Supply Hertfordshire, please follow the link above where you can log on using your existing username and password. If you have registered and have forgotten your Username and Password, please click on the forgotten password link below the log in box.) Please keep this Username and Password secure, and do not pass it to any third parties. Step 2: completing your PQQ: to complete the PQQ for this tender you will need to go into the Response Manager area and enter the Access Code C3AA727ER4. You will then need to download the relevant PQQ and complete. Any supporting documents should be cross-referenced to the relevant question and detailed in Appendix A of the PQQ. If the Council requires further information concerning your application form, your organisation will be contacted. However, please provide full details and answer all questions, as the Council reserves the right not to ask applicants for any further information or clarification.
Step 3: uploading Your Completed PQQ Once you have completed your PQQ for this Tender exercise you must then “upload” your completed response into the Tenderbox (Access Code C3AA727ER4). Please make sure you have submitted your completed PQQ to the correct Access Code, the Council will not be held accountable for any errors made by a tenderer in submitting your completed PQQ. If you are experiencing problems, then please contact the Delta helpdesk via e-mail at email@example.com or call +44 8452707050 (option 2) Monday to Friday 8:30am – 5:30pm for further assistance.
The Council reserves the right at any time to cease the tendering process and not award a contract or to award only part of the opportunity described in this notice. If the Council takes up this right then they will not be responsible for, or pay the expenses or losses, which may be incurred by any tenderer as a result.
The Council undertakes to hold confidential any information provided in the proposal submitted, subject to the Council’s obligations under the law, including the Freedom of Information Act 2000. If the applicant considers that any of the information submitted in the proposal should not be disclosed because of its sensitivity then this should be stated with the reason for considering it sensitive. The Council will then endeavour to consult with the applicant about such sensitive information when considering any request received under the Freedom of Information Act 2000 before replying to such a request.
Due to the current economic climate, Hertfordshire County Council reserves the right to carry out additional financial checks on all companies tendering for this Contract at any time during the procurement process, to ensure that they continue to meet the Council’s requirements and remain financially viable to perform the Contract. GO Reference: GO-2012330-PRO-3821753.
If a complaint between the Council and the tenderer regarding the award of a contract has not been successfully resolved, relevant provisions of the Public Contracts Regulations 2006 (as amended) will apply. The aggrieved party is advised to seek independent legal advice in relation to remedies they can pursue under the Public Contracts Regulations 2006 (as amended).
Hertfordshire County Council
SG13 8DQ Hertford
Telephone: +44 1992588834
VI.5)Date of dispatch of this notice:30.3.2012