Published date: 25 January 2018
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
Portfolio management services - 66140000
Location of contract
Yorkshire and the Humber
Value of contract
£11,000,000 to £16,500,000
Procurement reference
NYCC001-DN316953-28740616
Published date
25 January 2018
Closing date
2 February 2018
Contract start date
26 March 2018
Contract end date
25 March 2021
Contract type
Service contract
Procedure type
Other
Contract is suitable for SMEs?
No
Contract is suitable for VCSEs?
Yes
Description
North Yorkshire Pension fund as administered by North Yorkshire County Council. Following a recent investment strategy review, the Pension Fund Committee (the 'PFC') of the North Yorkshire Pension Fund (the 'Fund') is currently considering introducing an Insurance-Linked Securities ('ILS') mandate(s). The allocation is expected to account for between 3.3% - 5% of total Fund assets (equivalent to c. £110m to c. £165m). The rationale behind the appointment is to reduce the Fund's overall exposure to equities (as the source of assets for the ILS appointment will be equities) following recent material improvement in the Fund's solvency level. The returns from ILS depend on the underlying risks which are very different from those of traditional assets. This facet is unique. Allocating to ILS therefore helps in building a more robust overall portfolio with a strong risk/return profile.
About the buyer
Contact name
Stacey Speakman
Address
North Yorkshire County Council
County Hall
Northallerton
DL7 8AD
England
Telephone
+44 1609533459
stacey.speakman@northyorks.gov.uk
Website
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Closing: 2 February 2018
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