Published date: 5 September 2017
Closed opportunity - This means that the contract is currently closed. The buying department may be considering suppliers that have already applied, or no suitable offers were made.
Contract summary
Industry
Financial and insurance services - 66000000
Pension fund management services - 66141000
Location of contract
Any region
Value of contract
£25,000,000
Procurement reference
KENT001-DN278237-39133026
Published date
5 September 2017
Closing date
6 October 2017
Contract start date
1 February 2018
Contract end date
31 January 2025
Contract type
Service contract
Procedure type
Open procedure
Any interested supplier may submit a tender in response to an opportunity notice.
Contract is suitable for SMEs?
No
Contract is suitable for VCSEs?
No
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 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 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, and West Sussex County Council.
On behalf of the Administering Authorities, Kent County Council are seeking to procure the services of an FCA regulated Operator (the "Operator") who will be responsible for establishing and operating an umbrella ACS and to facilitate the provision of other collective investment schemes for the benefit of the Pool, exclusively for the Pool. The Pool is expected to have in the region of 25-35 sub-funds. The Operator's key functions will be to establish investment sub-funds, and to appoint, manage and terminate investment managers of those funds and to operate and administer the Administering Authorities' investments in the ACS and other collective investment schemes in which the Administering Authorities invest. 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.
Expressions of interest will only be accepted via the Kent Business Portal.
About the buyer
Contact name
Katherine Clark
Address
County Hall
Maidstone
ME14 1XQ
United Kingdom
Telephone
+44 3000411290
Website
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Closing: 6 October 2017
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