Pension investment services

Tender description

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 “All Wales Pool”) wishes to appoint a regulated third party operator to provide an authorised contractual scheme and other UK collective investment vehicles in order to benefit from economies of scale from the management of Welsh LGPS pension fund assets. 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 “All Wales Pool”) wishes to appoint a regulated third party operator to provide an authorised contractual scheme and other UK collective investment vehicles in order to benefit from economies of scale from the management of Welsh LGPS pension fund assets. The authority shall conduct a procurement process subject to the restricted procedure in accordance with the Public Contracts Regulations 2015 and Directive 2014/24/EU The project will comprise a single contract (the "Operator Agreement") comprising core operator services and discretionary ancillary advisory services. We expect to appoint a single contractor able to deliver, whether itself or with its named sub-contractor(s),the services. If a sub-contracted model is proposed by an Applicant, the Applicant must be the prime contractor who must also perform the core operator services. Applicants may not participate in more than one tender response. A draft services specification is included in the selection questionnaire which explains in full the scope of services. Broadly, the services involve the establishment and operation of an ACS and other UK collective investment 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. The evaluation criteria will be specified in the Invitation to Tender. The Authority envisages that the criteria will be within the following specific ranges: — Service Delivery: 65-75 %, — Legal: 5 %, — Price: 25-35 %.