Pension investment services

Tender description

This PIN updates and replaces PIN 2016/S 157-284708 published on 12.8.2016. Applicants do not need to respond formally to this PIN. The contracting authority will issue tender documents in due course. The contracting authority (on behalf of itself City of Cardiff Council, Swansea City and County Council, Torfaen County Borough Council, Powys County Council, Rhondda Cynon Taf County Borough Council, Carmarthenshire County Council and Gwynedd Council) (together the ‘Welsh Pool’) wishes to appoint a regulated third party operator to provide one or more collective vehicles in order to benefit from economies of scale from the management of Welsh pension fund assets. The authority intends to conduct a procurement process subject to the restricted procedure in accordance with the Public Contracts Regulations 2015 and Directive 2014/24/EU of the European Parliament and of the Council. The project will comprise a single contract comprising core operator services and discretionary services. We expect to appoint a single contractor able to deliver, whether itself or with its named sub-contractor(s),the services. Applicants may not participate in more than one tender response. The services involve the establishment and operation of an ACS and other regulated and unregulated vehicles; the preparation, maintenance and adherence to policies and processes required by regulators in relation to the operation of selected investment vehicles including provision of regulatory capital; the establishment and management of a range of sub-funds;management of investment managers and other third parties; reporting on fund performance; and maintenance of pricing of assets/shares.