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UK-Truro: pension fund management services

Contract Award

General Information
Country:   United Kingdom
City/Locality:   TRURO
Notice/Contract Number:   eu:51938-2010
Publication Date:   Feb 20, 2010
Buyer:   CORNWALL COUNCIL
Original Language:   English

Contact Information
Address:   CORNWALL COUNCIL
TRURO, Cornwall and Isles of Scilly
United Kingdom
Web Site:   www.cornwall.gov.uk

Goods, Works and Services

 

Summary

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Notice Type: 2280 - Contract award
Regulation of Procurement: European Communities, with participation by GPA countries
EU Official Journal Publication: 36/2010, #51938-2010
Referenced Document Number: 313797-2008
Contract Nature: Service contract
Procedure Type: Open procedure
Type of Bid Required: Not applicable
Awarding Criteria: The most economic tender
Successful Bidder: NAME AND ADDRESS OF ECONOMIC OPERATOR IN FAVOUR OF WHOM A CONTRACT AWARD
DECISION HAS BEEN TAKEN: Legal & General Assurance (Pensions Management)
Limited, One Coleman Street, London EC2R 5AA, UNITED KINGDOM. E-mail:
Joe.Cox@lgim.co.uk. Tel. +44 2031243124. Fax +44 2076340889.

Original Text

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CONTRACT AWARD NOTICE
Services
SECTION I: CONTRACTING AUTHORITY
I.1) NAME, ADDRESSES AND CONTACT POINT(S): Cornwall Council, County Hall,
Treyew Road, Contact: Jackie Shute, Truro TR1 3AY, UNITED KINGDOM. Tel.
+44 1872322212. E-mail: jshute@cornwall.gov.uk. Fax +44 1872323843.
Internet address(es):
General address of the contracting authority: www.cornwall.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: Appointment of Pension Fund
Investment Manager(s)(Passive Global).
II.1.2) Type of contract and location of works, place of delivery or of
performance: Services.
Service category No 6.
Main site or location of works, place of delivery or of performance:
Services.
NUTS code UKK30.
II.1.4) Short description of the contract or purchase(s): The mandate(s)
will be for a passive global equity manager(s). The mandate(s) will
initially comprise a passive global equity portfolio with a value of circa
GBP 50 000 000. The mandate(s) may be broadened at some future point to
include other asset classes also to be managed on a passive basis.
II.1.5) Common procurement vocabulary (CPV): 66141000.
II.1.6) Contract covered by the Government Procurement Agreement (GPA):
Yes.
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
1. Investment philosophy, process and operational performance. Weighting:
40.
2. Fees. Weighting: 20.
3. Corporate reputation and commitment to passive management. Weighting:
20.
4. Experience and continuity of investment professionals. Weighting: 20.
IV.2.2) An electronic auction has been used: No.
IV.3) ADMINISTRATIVE INFORMATION
IV.3.1) File reference number attributed by the contracting authority:
2008/S 236-313797.
IV.3.2) Previous publication(s) concerning the same contract: Contract
notice
Notice number in the OJEU: 2008/S 236-313797 of 4.12.2008.
SECTION V: AWARD OF CONTRACT
V.1) Date of contract award decision: 17.12.2009.
V.2) NUMBER OF OFFERS RECEIVED: 9.
V.3) NAME AND ADDRESS OF ECONOMIC OPERATOR IN FAVOUR OF WHOM A CONTRACT
AWARD DECISION HAS BEEN TAKEN: Legal & General Assurance (Pensions
Management) Limited, One Coleman Street, London EC2R 5AA, UNITED KINGDOM.
E-mail: Joe.Cox@lgim.co.uk. Tel. +44 2031243124. Fax +44 2076340889.
V.4) INFORMATION ON VALUE OF CONTRACT Initial estimated total value of
the contract:
Value: 50 000 000,00 GBP.
Excluding VAT.
Total final value of the contract:
Value: 37 683 191,00 GBP.
Excluding VAT.
V.5) THE CONTRACT IS LIKELY TO BE SUB-CONTRACTED: No.
SECTION VI: COMPLEMENTARY INFORMATION
VI.1) CONTRACT RELATED TO A PROJECT AND/OR PROGRAMME FINANCED BY
COMMUNITY FUNDS: No.
VI.3) PROCEDURES FOR APPEAL:
VI.3.2) Lodging of appeals: Precise information on deadline(s) for
lodging appeals: Precise information on deadline(s) for lodging appeals:
Precise information on deadline(s) for lodging appeals: Precise
information on deadline(s) for lodging appeals: This contracting authority
will incorporate a minimum 10 calendar day standstill 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 standstill period. Such additional
information should be requested from the addressee found in 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 believe they are at risk of harm
by a breach of the rules to take action in the High Court (England, Wales
and 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 contracting
authority to amend any document and may award damages. If the contract has
been entered into, the Court may only award damages.
VI.4) DATE OF DISPATCH OF THIS NOTICE: 18.2.2010.
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