Transition Management Services for Lancashire County Pension Fund

Transition Management Services for Lancashire County Pension Fund

At this time the Council is seeking to appoint a number of experienced transition management service providers, via a Framework Agreement. Once the Framework Agreement is in place, the Council will conduct a lowest price mini-competition exercise between providers whenever it requires transition management services.

United Kingdom-Preston: Pension fund consultancy services

2014/S 175-309110

Contract notice

Services

Directive 2004/18/EC

Section I: Contracting authority

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

Lancashire County Council
3rd Floor Lancashire Point
Contact point(s): http://www.lancashire.gov.uk/corporate/web/?siteid=6864&pageid=41137&e=e
For the attention of: Andrew Patten
PR1 0LD Preston
UNITED KINGDOM
E-mail: contractscorporate@lancashire.gov.uk

Internet address(es):

General address of the contracting authority: http://www.lancashire.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: yes

Section II: Object of the contract

II.1)Description

II.1.1)Title attributed to the contract by the contracting authority:

CORP Transition Management Services Framework for Lancashire County Pension Fund.

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

NUTS code UKD

II.1.3)Information about a public contract, a framework agreement or a dynamic purchasing system (DPS)

The notice involves the establishment of a framework agreement

II.1.4)Information on framework agreement

Framework agreement with several operators

Duration of the framework agreement

Duration in years: 4

Estimated total value of purchases for the entire duration of the framework agreement

Estimated value excluding VAT: 1 300 000 GBP

II.1.5)Short description of the contract or purchase(s)

Lancashire County Council, as the administering authority for the Lancashire County Pension Fund (LCPF), is seeking to appoint a number of transition management service providers via a Framework Agreement. Over the next 4 years, the Council will be reviewing various aspects of the investment arrangements of the LCPF, and as a result expects to make significant changes to its strategic asset allocation, and also potentially its stable of investment managers. At this time the Council is seeking to appoint a number of experienced transition management service providers, via a Framework Agreement. Once the Framework Agreement is in place, the Council will conduct a lowest price mini-competition exercise between providers whenever it requires transition management services. Lowest price at mini-competition stage will be defined as the total of the anticipated loss in value of assets transitioned and any professional fee payable to the transition manager. All those suppliers within the frameworks capable of meeting the particular need will be invited to bid. Individual transition exercises are expected to range from 50 000 000 GBP to 5 000 000 000 GBP in market value of underlying assets; there may be multiple exercises during the course of the appointment.

II.1.6)Common procurement vocabulary (CPV)

66523000661311006650000066523100

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:

II.2.2)Information about options

Options: yes
Description of these options: There may be an extension period of up to 24 months subject to the agreement of both parties and contractual performance.

II.2.3)Information about renewals

This contract is subject to renewal: no

II.3)Duration of the contract or time limit for completion

Duration in months: 24 (from the award of the contract)

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: yes
Description of particular conditions: Please see tender documents.
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: Please see tender documents.

III.2.2)Economic and financial ability

Information and formalities necessary for evaluating if the requirements are met: Please see tender documents.

III.2.3)Technical capacity

Information and formalities necessary for evaluating if the requirements are met:
Please see tender documents.
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: FCA approved organisations.

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: no

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

Recourse to staged procedure to gradually reduce the number of solutions to be discussed or tenders to be negotiated no
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:

AP/CORP/LCC/14/069
IV.3.2)Previous publication(s) concerning the same contract

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: 21.10.2014 – 09:00
Payable documents: no

IV.3.4)Time limit for receipt of tenders or requests to participate

21.10.2014 – 09:00

IV.3.5)Date of dispatch of invitations to tender or to participate to selected candidates

9.9.2014

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

in days: 90 (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

This is a recurrent procurement: yes
Estimated timing for further notices to be published:

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

This framework agreement will be awarded for a period of 2 years with an option to extend for a further 2 years. The tender documents are available on Lancashire County Council’s electronic tendering site http://www.lancashire.gov.uk/corporate/web/?siteid=6864&pageid=41137&e=e Use of this system does not require high specification IT equipment or connections, nor high level personal IT skills/capabilities. Access to the system/software and advice is free of charge. The contract covers the administrative County of Lancashire; however, where a successful bidder’s capacity and capability permits, the agreement will be open to other Public sector bodies, who may wish to access the provision. The list of possible Local authorities, police, emergency services and NHS bodies that are eligible to join the contract are listed in the following websites: Central Government Departments and their Agencies. http://www.direct.gov.uk/en/Dl1/Directories/A-ZOfCentralGovernment/index.htm UK Local Authorities, colleges, academies, higher education establishments (including universities) and schools; http://www.direct.gov.uk/en/Dl1/Directories/Localcouncils/index.htmFire and rescue service; http://www.direct.gov.uk/en/Diol1/DoItOnline/DG_10027464 Police; http://www.homeoffice.gov.uk/police/ NHS;http://www.nhs.uk/ServiceDirectories/Pages/AcuteTrustListing.aspx Please note — if you do not already have a supplier account on the new e-tendering system (Oracle), you will be required to obtain a DUNS number, this can take a number of days to be issued and is required as part of the system registration, therefore, tenderers are advised to allow plenty of time for registration and to do this as early as possible during the tender period. Registration is necessary in order to view the tender details and obtain tender documentation.

VI.4)Procedures for appeal
VI.4.1)Body responsible for appeal procedures
VI.4.2)Lodging of appeals
VI.4.3)Service from which information about the lodging of appeals may be obtained

VI.5)Date of dispatch of this notice:

9.9.2014