Financial and insurance services

Tender description

Wolverhampton City Council (CWC) is the Administering Authority of the West Midlands Pension Fund, valued at around 15 000 000 000 GBP at the end of September 2018. The Fund is looking to establish a framework for sustainable equity managers to manage mandates in the region of 750 000 000 GBP. The Fund is looking for managers who invest in companies with a long term approach to sustainability where the effective management of environmental, social and governance risks and opportunities is an integral part of the strategy to create a sustainable business and the ability to achieve long term superior returns. The key objectives of West Midlands Pension Fund are to: meet the investment objectives of the West Midlands Pension Fund; establish a framework for use by Partner Funds within LGPS Central Pool and LGPS Central Ltd to enable access to appointed mangers through a call-off process. The framework will only be made available to the administering authorities of the following bodies: — Cheshire Pension Fund, — Derbyshire Pension Fund, — Leicestershire Pension Fund, — Nottinghamshire Pension Fund, — Shropshire Pension Fund, — Staffordshire Pension Fund, — West Midlands Pension Fund, — West Midlands Integrated Transport Authority Pension Fund, — Worcestershire Pension Fund and to the LGPS Central Pool Operator, — LGPS Central Ltd. The Fund is running an open procurement process with the support of an investment adviser. Bidders are required to complete an invitation to tender and return using the e-tendering portal at www.wolverhamptontenders.com and searching for PP18210 — Global Sustainable Equity Investment Management services — Framework. WMPF reserves the right to cancel the procurement process at any stage for any reason; to amend the terms and conditions; and/or to vary the scope of the services required and it shall not be liable to any bidder as a result of this action. All bidders are solely responsible for their costs and expenses incurred in connection with the preparation and submission of their proposal. Any agreement entered into will be governed by English and Welsh law and will be subject to the exclusive jurisdiction of the English Courts. Please note that the Authority considers that the services being required pursuant to this notice are services which are exempt from the Public Contracts Regulations (and Directive 2014/24/EU of the European Parliament and of the Council) as being comprised of services falling within the exemption in Regulation 10(1)(e) of the Public Contracts Regulations 2015. Accordingly this represents a voluntary contract notice only and not one which it is required to publish to comply with the Public Contracts Regulations. Its decision to issue this notice in the official journal should not be taken to indicate any intention to follow the open procedure or any other procedure or comply with any requirements under the Public Contracts Regulations 2015 (or the Directive), nor will it be (irrespective of this notice) under any obligation to do so.