Search      Advanced Search

UK-London: pension fund management services

Request For Proposals

General Information
Country:   United Kingdom
City/Locality:   LONDON
Notice/Contract Number:   eu:71133-2010
Publication Date:   Mar 10, 2010
Deadline:   Apr 6, 2010
Buyer:   ROYAL BOROUGH OF KENSINGTON AND CHELSEA
Original Language:   English

Contact Information
Address:   ROYAL BOROUGH OF KENSINGTON AND CHELSEA
LONDON, Inner London - West
United Kingdom
Web Site:   www.rbkc.gov.uk

Goods, Works and Services

 

Summary

      view in:

Notice Type: 2220 - Contract notice
Regulation of Procurement: European Communities, with participation by GPA countries
EU Official Journal Publication: 48/2010, #71133-2010
Contract Nature: Service contract
Procedure Type: Restricted procedure
Type of Bid Required: Global tender
Awarding Criteria: The most economic tender

Original Text

      view in:

CONTRACT NOTICE
Services
SECTION I: CONTRACTING AUTHORITY
I.1) NAME, ADDRESSES AND CONTACT POINT(S): Royal Borough of Kensington
and Chelsea, The Town Hall Hornton Street, Attn: Alex Robertson, London W8
7NX, UNITED KINGDOM. Tel. +44 2073613493. E-mail:
pension.investment@rbkc.gov.uk. Fax +44 2073613479.
Internet address(es):
General address of the contracting authority: www.rbkc.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: rbkcgesearch@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:
rbkcgesearch@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: rbkcgesearch@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) - Global Equity.
II.1.2) Type of contract and location of works, place of delivery or of
performance: Services.
NUTS code: UKI11.
II.1.3) The notice involves: A public contract.
II.1.5) Short description of the contract or purchase(s): The mandate(s)
will be for an active global equity manager(s) for approximate initial
value of GBP 300 000 000.
The Investment Committee reserves the right to alter the value of the
funds awarded and this may change over time. More than one manager may be
appointed.
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 mandate(s) will be for an active
global equity manager(s) for approximate initial value of GBP 300 000 000.
The mandate is likely to be benchmarked against the MSCI AC World Index.
The proposed outperformance target is a minimum of 2.0 % p.a. (gross of
fees) over rolling 3 year periods. The proposed tracking error target is
3.0 % to 7.0 % p.a. over rolling 3 year periods.
The Investment Committee reserves the right to alter the value of the
funds awarded and this may change over time. More than one manager may be
appointed.
Estimated value excluding VAT: 1 200 000,00 GBP.
II.2.2) Options: No.
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.2.3) Technical capacity: Information and formalities necessary for
evaluating if requirements are met:
Providers should complete a Pre Qualification Questionnaire (PQQ).Please
contact Hymans Robertson LLP for a copy of the PQQ. Contact details can be
found in Annex A.
Minimum level(s) of standards possibly required:
Services and Markets Act 2000, or equivalent law of European Economic Area
(EEA) member state to manage the assets of occupational pension funds.
Providers must be able to comply with appropriate LGPS regulations.
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: Restricted.
IV.1.2) Limitations on the number of operators who will be invited to
tender or to participate: Envisaged minimum number: 5. Maximum number: 20
Objective criteria for choosing the limited number of candidates:
Providers will be assessed across 5 factors; Ownership; Business Stability
and Focus; People; Performance & Risk and Suitability & Fit.
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: 6.4.2010 - 10:00.
Payable documents: no.
IV.3.4) Time-limit for receipt of tenders or requests to participate:
6.4.2010 - 12:00.
IV.3.6) Language(s) in which tenders or requests to participate may be
drawn up: English.
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: 5.3.2010.
Please note that this notice is for your information only.
We try our best to have the most accurate and up-to-date information available on our web site, but we cannot guarantee that all of the information provided is error-free.
If you have any suggestions for updates/corrections for this notice, please let us know.