Published date: 25 September 2023
Awarded contract - This means that the contract has been awarded to a supplier.
Contract summary
Industry
Pension investment services - 66131100
Location of contract
West Midlands
Value of contract
£86,190
Procurement reference
IA3024
Published date
25 September 2023
Closing date
19 July 2023
Closing time
12pm
Contract start date
1 August 2023
Contract end date
31 October 2023
Contract type
Service contract
Procedure type
Other: Exception against internal procurement regulations
Contract is suitable for SMEs?
No
Contract is suitable for VCSEs?
No
Description
Transition manager, who will manage the divestment from J.P. Morgan and investment into the LGPS Central FBI fund. The transition manager will reduce costs by transitioning assets 'in-specie' where possible and position the assets into the desired portfolio for the new investment.
Staffordshire Pension Fund invests in a variety of listed equity assets. At the Pensions Panel on 6 June 2023, Members approved an increase in the Fund's allocation to Factor-Based Investment (FBI) equities from 5.0% to 8.8% of the Fund.
As part of this approval, an allocation of 4.4% (c£295m) of the Fund was awarded to a new investment, the LGPS Central All World Equity Climate Multi Factor Fund. The assets to fund this investment were approved to be taken from an existing manager, J.P. Morgan, who currently manage over 10% of Fund assets.
Award information
Awarded date
19 July 2023
Contract start date
1 August 2023
Contract end date
31 October 2023
Total value of contract
£86,190
This contract was awarded to 1 supplier.
Macquarie Capital (Europe) Limited
Address
Ropemaker Place
28 Ropemaker Street
London
EC2Y 9HDReference
Companies House number: 03704031
Value of contract
£86,190
Supplier is SME?
No
Supplier is VCSE?
No
About the buyer
Contact name
Laura Kendall
Address
Tipping Street
Stafford
ST16 2DH
United Kingdom
Telephone
+441785854656
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Closing: 19 July 2023, 12pm
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