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UK-Birkenhead: portfolio management services

Request For Proposals

General Information
Country:   United Kingdom
City/Locality:   BIRKENHEAD
Notice/Contract Number:   eu:37399-2010
Publication Date:   Feb 6, 2010
Deadline:   Mar 23, 2010
Buyer:   WIRRAL BOROUGH COUNCIL
Original Language:   English

Contact Information
Address:   WIRRAL BOROUGH COUNCIL
BIRKENHEAD, NORTH WEST (ENGLAND)
United Kingdom
Web Site:   https://www.thechest.nwce.gov.uk

Goods, Works and Services

 

Summary

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Notice Type: 2210 - Contract notice
Regulation of Procurement: European Communities, with participation by GPA countries
EU Official Journal Publication: 26/2010, #37399-2010
Contract Nature: Service contract
Procedure Type: Open procedure
Type of Bid Required: Global or partial tender
Awarding Criteria: The most economic tender

Original Text

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CONTRACT NOTICE
Services
SECTION I: CONTRACTING AUTHORITY
I.1) NAME, ADDRESSES AND CONTACT POINT(S): Wirral Borough Council,
Municipal Building, Attn: Mr Miichael Bootman, Birkenhead CH41 6BU, UNITED
KINGDOM. Tel. +44 1516663846. E-mail: michaelbootman@wirral.gov.uk. Fax
+44 1516663705.
Further information can be obtained at: JLT Benefit Solutions, Quay West,
Trafford Wharf Road, Attn: Cameron McMullen, Manchester M17 1PL, UNITED
KINGDOM. Tel. +44 7717690671. E-mail: cameronmcmullen@jlteb.com. Fax +44
1612531169.
Specifications and additional documents (including documents for
competitive dialogue and a dynamic purchasing system) can be obtained at:
Wirral Borough Council, Municipal Building Cleveland Street, Attn: Michael
Bootman, Birkenhead CH41 6BU, UNITED KINGDOM. Tel. +44 1516663846. E-mail:
tenders@wirral.gov.uk.
Tenders or requests to participate must be sent to: Wirral Borough
Council, Municipal Building Cleveland Street, Attn: Michael Bootman,
Birkenhead CH41 6BU, UNITED KINGDOM. Tel. +44 1516663846. URL:
https://www.thechest.nwce.gov.uk.
I.2) TYPE OF THE CONTRACTING AUTHORITY AND MAIN ACTIVITY OR ACTIVITIES:
Regional or local authority.
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:
Investment management services.
II.1.2) Type of contract and location of works, place of delivery or of
performance: Services.
Service category: No 6.
NUTS code: UKD.
II.1.3) The notice involves: A public contract.
II.1.5) Short description of the contract or purchase(s): Tenders are
invited for one or more lots. LOT 1 – Japanese Equities. The Merseyside
Pension Fund is seeking to appoint one or more investment managers for the
management of a Japanese equity portfolio. The portfolio will be
approximately 180 000 000 GBP in total although the actual value of the
mandate(s) awarded will be determined at the time of the appointment of
the successful investment manager(s). The target is to outperform the FTSE
Japan Index by +3 % per annum gross of fees on a rolling 3 year basis. LOT
2 - Pacific Basin (excluding Japan) equities. The Merseyside Pension Fund
is seeking to appoint one or more investment managers for the management
of a Pacific Basin (excluding Japan) equity portfolio. The portfolio will
be approximately 140 000 000 GBP in total although the actual value of the
mandate(s) awarded will be determined at the time of the appointment of
the successful investment manager(s). The target is to outperform the MSCI
Asia Pacific ex Japan Index by +3 % per annum gross of fees on a rolling 3
year basis. LOT 3 – Emerging Market EquityThe Merseyside Pension Fund is
seeking to appoint one or more investment managers for the management of
an Emerging Market equity portfolio. The portfolio will be approximately
180 000 000 GBP in total although the actual value of the mandate(s)
awarded will be determined at the time of the appointment of the
successful investment manager(s). The target is to outperform the MSCI
Emerging Markets Index by +3 % per annum gross of fees on a rolling 3 year
basis.
II.1.6) Common procurement vocabulary (CPV): 66140000, 66520000,
66141000, 66100000, 66120000, 66000000.
II.1.7) Contract covered by the Government Procurement Agreement (GPA):
Yes.
II.1.8) Division into lots: Yes.
Tenders should be submitted for: one or more lots.
II.1.9) Variants will be accepted: Yes.
II.2) QUANTITY OR SCOPE OF THE CONTRACT
II.2.1) Total quantity or scope: Full and detailed scope of the services
will accompany the form of tender.
Estimated value excluding VAT: 3 500 000 GBP.
II.2.2) Options: No.
II.3) DURATION OF THE CONTRACT OR TIME-LIMIT FOR COMPLETION: Duration in
months: 60 (from the award of the contract).
INFORMATION ABOUT LOTS
LOT NO
TITLE: Japenese Equity
1) SHORT DESCRIPTION: The Merseyside Pension Fund is seeking to appoint
one or more investment managers for the management of a Japanese equity
portfolio. The portfolio will be approximately 180 000 000 GBP in total
although the actual value of the mandate(s) awarded will be determined at
the time of the appointment of the successful investment manager(s). The
target is to outperform the FTSE Japan Index by +3 % per annum gross of
fees on a rolling 3 year basis.
2) COMMON PROCUREMENT VOCABULARY (CPV): 66140000, 66141000, 66000000.
3) QUANTITY OR SCOPE: The Merseyside Pension Fund is seeking to appoint
one or more investment managers for the management of a Japanese equity
portfolio. The portfolio will be approximately 180 000 000 GBP in total
although the actual value of the mandate(s) awarded will be determined at
the time of the appointment of the successful investment manager(s). The
target is to outperform the FTSE Japan Index by +3 % per annum gross of
fees on a rolling 3 year basis.
5) ADDITIONAL INFORMATION ABOUT LOTS: Interested parties may register for
one of more lots.
LOT NO
TITLE: Pacific Basin (excluding Japan) Equity
1) SHORT DESCRIPTION: The Merseyside Pension Fund is seeking to appoint
one or more investment managers for the management of a Pacific Basin
(excluding Japan) equity portfolio. The portfolio will be approximately
140 000 000 GBP in total although the actual value of the mandate(s)
awarded will be determined at the time of the appointment of the
successful investment manager(s). The target is to outperform the MSCI
Asia Pacific ex Japan Index by +3 % per annum gross of fees on a rolling 3
year basis.
2) COMMON PROCUREMENT VOCABULARY (CPV): 66140000, 66141000, 66000000.
3) QUANTITY OR SCOPE: The Merseyside Pension Fund is seeking to appoint
one or more investment managers for the management of a Pacific Basin
(excluding Japan) equity portfolio. The portfolio will be approximately
140 000 000 GBP in total although the actual value of the mandate(s)
awarded will be determined at the time of the appointment of the
successful investment manager(s). The target is to outperform the MSCI
Asia Pacific ex Japan Index by +3 % per annum gross of fees on a rolling 3
year basis.
5) ADDITIONAL INFORMATION ABOUT LOTS: Interested parties may register for
1 or more lots.
LOT NO
TITLE: Emerging market equity
1) SHORT DESCRIPTION: The Merseyside Pension Fund is seeking to appoint
one or more investment managers for the management of an Emerging Market
equity portfolio. The portfolio will be approximately 180 000 000 GBP in
total although the actual value of the mandate(s) awarded will be
determined at the time of the appointment of the successful investment
manager(s). The target is to outperform the MSCI Emerging Markets Index by
+3 % per annum gross of fees on a rolling 3 year basis.
2) COMMON PROCUREMENT VOCABULARY (CPV): 66140000, 66141000, 66000000.
SECTION III: LEGAL, ECONOMIC, FINANCIAL AND TECHNICAL INFORMATION
III.1) CONDITIONS RELATING TO THE CONTRACT
III.1.1) Deposits and guarantees required: As detailed in the form of
tender documentation.
III.1.2) Main financing conditions and payment arrangements and/or
reference to the relevant provisions regulating them: As detailed in the
form of tender documentation.
III.1.3) Legal form to be taken by the group of economic operators to
whom the contract is to be awarded: As detailed in the form of tender
documentation.
III.1.4) Other particular conditions to which the performance of the
contract is subject: No.
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 requirements are met: As detailed
in the form of tender documentation.
III.2.2) Economic and financial capacity: Information and formalities
necessary for evaluating if requirements are met: As detailed in the Form
of Tender documentation.
III.2.3) Technical capacity: Information and formalities necessary for
evaluating if requirements are met:
As detailed in the form of tender documentation.
III.2.4) Reserved contracts: No.
III.3) CONDITIONS SPECIFIC TO SERVICES CONTRACTS
III.3.1) Execution of the service is reserved to a particular profession:
Yes.
Candidates must be registered under the terms of the Financial Services
Act 1986 or equivalent law of member states to manage assets of
occupational pension funds. Providers must also satisfy the requirements
of the Superannuation Act 1972 and the local government pension scheme
(management and investment of funds) regulations 1998 (as amended).
SECTION IV: PROCEDURE
IV.1) TYPE OF PROCEDURE
IV.1.1) Type of procedure: Open.
IV.2) AWARD CRITERIA
IV.2.1) Award criteria: The most economically advantageous tender in
terms of the criteria stated below:
1. Technical merits. Weighting: 50.
2. Quality. Weighting: 40.
3. Price. Weighting: 10.
IV.2.2) An electronic auction will be used: No.
IV.3) ADMINISTRATIVE INFORMATION
IV.3.1) File reference number attributed by the contracting authority:
FNCP09101.
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: 19.3.2010 - 17:00.
Payable documents: no.
IV.3.4) Time-limit for receipt of tenders or requests to participate:
23.3.2010 - 17:00.
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: Duration in month(s): 12 (from the date stated for receipt of
tender).
IV.3.8) Conditions for opening tenders: Persons authorised to be present
at the opening of tenders: no.
SECTION VI: COMPLEMENTARY INFORMATION
VI.1) THIS IS A RECURRENT PROCUREMENT: No.
VI.2) CONTRACT RELATED TO A PROJECT AND/OR PROGRAMME FINANCED BY EU
FUNDS: No.
VI.3) ADDITIONAL INFORMATION: Interested parties should register as a
supplier (free of charge) at the following site (The
Chest)https://www.thechest.nwce.gov.uk/ On 5.2.2010, the advertisment will
be published on The Chest where you will be able to search for this
opportunity and regsiter your expression of interest. You will then be
able to download all corresponding documents.If you have any technical
problems with The Chest please contact the helpdesk on: Email:
nwsupport@due-north.com Telephone: +44 8452930459, Expression of interest
end date 15.3.2010 (17:00). The Merseyside pension fund will give
preference to fellow signatories or managers who display awareness and
support for the UN principles for responsible investment (UNPRI), such as
responsible ownership. The appointed investment manager will be expected
to manage the assets in accordance with the local government pension
scheme regulations and the fund’s statement of investment principles,
which has been prepared in accordance with the revised Myners principles
including the policy on responsible ownership.
VI.4) PROCEDURES FOR APPEAL
VI.4.2) Lodging of appeals: Precise information on deadline(s) for
lodging appeals: Wirral Council will incorporate a minimum 10 calendar day
stand-still 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. Applicants have 2 working days from the notification of
the award decision to request additional debriefing and that information
has to be provided a minimum of 3 working days before the expiry of the
stand-still period. Such additional information should be required from
the contact in part I.1. If an appeal regarding the award of a contract
has not been successfully resolved the Public.
Contracts Regulations 2006 (SI 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, Wales & northern Ireland). Any
such action must be brought promptly (Generally within 3 months). Where a
contract has not been entered into, the Court may order the setting aside
of the award decision or order the authority to amend any document and may
award damages. If the.
Contract has been entered into, the Court may only award damages.
VI.5) DATE OF DISPATCH OF THIS NOTICE: 5.2.2010.
Please note that this notice is for your information only.
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