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UK-Norwich: pension fund management services

Request For Proposals

General Information
Country:   United Kingdom
City/Locality:   NORWICH
Notice/Contract Number:   eu:65108-2010
Publication Date:   Mar 4, 2010
Deadline:   Apr 16, 2010
Buyer:   NORFOLK COUNTY COUNCIL AS ADMINISTERING AUTHORITY OF THE NORFOLK PENSION FUND
Original Language:   English

Contact Information
Address:   NORFOLK COUNTY COUNCIL AS ADMINISTERING AUTHORITY OF THE NORFOLK PENSION FUND
NORWICH, Norfolk
United Kingdom
Web Site:   www.norfolk.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: 44/2010, #65108-2010
Contract Nature: Service contract
Procedure Type: Open procedure
Type of Bid Required: Global 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): Norfolk County Council as
Administering Authority of the Norfolk Pension Fund, Lawrence House 4/5
Floor 5 St Andrews Hill, Attn: Alex Younger (+44 1603222995) and Glenn
Cossey (+44 1603228978), Norwich NR2 1AD, UNITED KINGDOM. Tel. +44
1603222995. E-mail: alexander.younger@norfolk.gov.uk. Fax +44 1603228898.
Internet address(es):
General address of the contracting authority: www.norfolk.gov.uk.
Further information can be obtained at: Hymans Robertson LLP, 20 Waterloo
Street, Attn: Manager Research Team, Glasgow G2 6DB, UNITED KINGDOM. Tel.
+44 1415667919. E-mail: NorfolkPassiveUKSearch@hymans.co.uk. Fax +44
1415667788. URL: www.hymans.co.uk.
Specifications and additional documents (including documents for
competitive dialogue and a dynamic purchasing system) can be obtained at:
Hymans Robertson LLP, 20 Waterloo Street, Attn: Manager Research Team,
Glasgow G2 6DB, UNITED KINGDOM. Tel. +44 1415667919. E-mail:
NorfolkPassiveUKSearch@hymans.co.uk. Fax +44 1415667788. URL:
www.hymans.co.uk.
Tenders or requests to participate must be sent to: Hymans Robertson LLP,
20 Waterloo Street, Attn: Manager Research Team, Glasgow G2 6DB, UNITED
KINGDOM. Tel. +44 1415667919. E-mail: NorfolkPassiveUKSearch@hymans.co.uk.
Fax +44 1415667788. URL: www.hymans.co.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:
Appointment of pension fund investment manager(s) - passive UK equity.
II.1.2) Type of contract and location of works, place of delivery or of
performance: Services.
Service category: No 6.
NUTS code: UKH13.
II.1.3) The notice involves: A public contract.
II.1.5) Short description of the contract or purchase(s): The appointment
of a passive UK equity investment manager(s) with a value of circa 125 000
000 GBP - 450 000 000 GBP. The Council will consider market capitalisation
and fundamental (e.g. RAFI or GWA) approaches, based on FTSE All Share
constituents. The appointed manager(s) will be asked to pay for the set
up, and ongoing costs, associated with the independent performance
measurement of this mandate. The appointed manager(s) will be expected to
vote the mandate's underlying holdings in accordance with the Council's
voting policy.
The Council reserves the right to alter the value of the funds awarded.
More than one manager may be appointed, but the Council has a preference
to appoint a single manager. The Council reserves the right to alter the
length of the contract.
II.1.6) Common procurement vocabulary (CPV): 66141000.
II.1.7) Contract covered by the Government Procurement Agreement (GPA):
Yes.
II.1.8) Division into lots: No.
II.1.9) Variants will be accepted: Yes.
II.2) QUANTITY OR SCOPE OF THE CONTRACT
II.2.1) Total quantity or scope: The appointment of a passive UK equity
investment manager(s) with a value of circa 125 000 000 GBP - 450 000 000
GBP. The Council will consider market capitalisation and fundamental (e.g.
RAFI or GWA) approaches, based on FTSE All Share constituents. The
appointed manager(s) will be asked to pay for the set up, and ongoing
costs, associated with the independent performance measurement of this
mandate. The appointed manager(s) will be expected to vote the mandate's
underlying holdings in accordance with the Council's voting policy.
The Council reserves the right to alter the value of the funds awarded.
More than one manager may be appointed, but the Council has a preference
to appoint a single manager. The Council reserves the right to alter the
length of the contract.
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).
SECTION III: LEGAL, ECONOMIC, FINANCIAL AND TECHNICAL INFORMATION
III.1) CONDITIONS RELATING TO THE CONTRACT
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: Providers
must be registered in terms of the Financial Services and Markets Act
2000, or equivalent law of European Economic Area (EEA) member state to
manage the assets of occupational pension funds. Proof of registration
must be provided.
III.2.2) Economic and financial capacity: Minimum level(s) of standards
possibly required: Providers must be registered in terms of the Financial
Services and Markets Act 2000, or equivalent law of European Economic Area
(EEA) member state to manage the assets of occupational pension funds.
The appointed manager(s) will be asked to pay for the independent
performance measurement of this account.
III.2.3) Technical capacity: Information and formalities necessary for
evaluating if requirements are met:
Candidates should complete a response for proposal (“RfP”) questionnaire.
Please contact Hymans Robertson LLP for a copy of the RfP. Contact details
are provided in Annex A.
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.
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 to manage the assets of occupational pension funds. See III.2.1
above.
III.3.2) Legal entities should indicate the names and professional
qualifications of the staff responsible for the execution of the service:
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 the criteria stated in the specifications, in the invitation to
tender or to negotiate or in the descriptive document.
IV.2.2) An electronic auction will be used: No.
IV.3) ADMINISTRATIVE INFORMATION
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: 16.4.2010 - 10:00.
Payable documents: no.
IV.3.4) Time-limit for receipt of tenders or requests to participate:
16.4.2010 - 12:00.
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).
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.4) PROCEDURES FOR APPEAL
VI.4.2) Lodging of appeals: Precise information on deadline(s) for
lodging appeals: As per the Public Contracts Regulations 2006.
VI.5) DATE OF DISPATCH OF THIS NOTICE: 2.3.2010.
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