Pension fund management services

Tender description

This procurement is being undertaken by Kent County Council on behalf of the ACCESS (A Collaboration of Central, Eastern and Southern Shires) Pool's (‘the Pool’) Administering Authorities; a pool of eleven UK Local Government pension schemes as listed in Section II.2.4 below. The contract will also be accessible by any other LGPS Authority (for the list of LGPS member Authorities see http://www.lgpsboard.org/index.php/fund-annual-reports-2016) that joins the Pool at any time. The object of the procurement is a contract for the services of an FCA regulated, or equivalent EEA financial services regulated, Operator (the ‘Operator’) who will be responsible for establishing and operating an umbrella Authorised Contractual Scheme (‘ACS’) and to facilitate the provision of other collective investment schemes for the benefit of the Pool, exclusively for the Pool. The ACCESS Pool Administering Authorities are Cambridgeshire County Council, East Sussex County Council, Essex County Council, Hampshire County Council, Hertfordshire County Council, Isle of Wight Council, Kent County Council, Norfolk County Council, Northamptonshire County Council, Suffolk County Council, West Sussex County Council. On behalf of the ACCESS Pool Administering Authorities, Kent County Council are seeking to procure the services of an FCA regulated, or or equivalent EEA financial services regulated, CIV Operator. The CIV Operator will be responsible for establishing and operating an Authorised Contractual Scheme (ACS) and other collective investment vehicles, exclusively for the Pool, which is expected to have in the region of 25-35 sub-funds. Its key functions will be to establish investment sub-funds, and to appoint, manage and dismiss investment managers of those funds. The Administering Authorities require all major asset classes to be available, including as a minimum, equities, fixed income, multi asset and property. The successful Supplier will provide quarterly reporting to the Pool on a range of monitoring metrics and Key Performance Indicators. The successful Supplier will be required to apply for and obtain all the necessary regulatory authorisations required to operate the ACS. The supplier will be required to exercise best endeavours to have the ACS ready for investment in order for the transfer of assets to occur. Further background and technical information can be found within the tender documentation. Contract award will be based on the Most Economically Advantageous Tender based upon the criteria specified within the Invitation to Tender. The Administering Authorities may choose to include optional ancillary services as detailed in the Invitation to Tender. These are not part of the core requirement, and do not form any part of the evaluation.