This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Read our Privacy Notice. Accept Cookies

View Notice

Do you wish to record an interest in this notice?
Do you require any additional documents?

Notice Details

Title: Regulated third party operator to provide a series of collective vehicles for the Wales LGPS
Published by: Flintshire County Council
Publication Date: 15/08/2016
Deadline Date:
Deadline Time:
Notice Type: 01 Prior Information Notice (PIN)
Has Documents: Yes
Has ESPD: No
Abstract: The Welsh LGPS Pension Funds wish to appoint a regulated third party operator to provide one or more collective vehicles in order to benefit from economies of scale from the management of Welsh pension fund assets. Further background can be found in the attached July submission. The administering authorities are considering the scope and specification of services required. At the end of the fixed contract term the authorities will have the option of re-tendering the services to a third party or transferring the services to an owned entity. This PIN process will (a)help inform the specification of services for an Invitation to Tender (ITT)which is expected to follow later this year and (b)identify suppliers who may be interested in bidding. The tender may be divided into lots for “core” services and one or “additional services”. A final decision on the form of tender process has not yet been made (e.g. full OJEU process or a non-OJEU process under financial services exemption).
CPV: 66131100.

Prior information notice

This notice is for prior information only

Directive 2014/24/EU - Public Sector Directive

Section I: Contracting Change authority

I.1) Name and addresses

Flintshire County Council

County Hall, Mold

Flintshire

CH7 6NA

UK

Telephone: +44 1352701814

E-mail: procurement@flintshire.gov.uk

NUTS: UKL23

Internet address(es)

Main address: www.flintshire.gov.uk

Address of the buyer profile: http://www.sell2wales.gov.wales/search/Search_AuthProfile.aspx?ID=AA0419

I.3) Communication

Additional information can be obtained from the abovementioned address


I.4) Type of the contracting authority

Regional or local authority

I.5) Main activity

General public services

Section II: Object

II.1) Scope of the procurement

II.1.1) Title

Regulated third party operator to provide a series of collective vehicles for the Wales LGPS

II.1.2) Main CPV code

66131100

 

II.1.3) Type of contract

Services

II.1.4) Short description

The Welsh LGPS Pension Funds wish to appoint a regulated third party operator to provide one or more collective vehicles in order to benefit from economies of scale from the management of Welsh pension fund assets. Further background can be found in the attached July submission. The administering authorities are considering the scope and specification of services required. At the end of the fixed contract term the authorities will have the option of re-tendering the services to a third party or transferring the services to an owned entity. This PIN process will (a)help inform the specification of services for an Invitation to Tender (ITT)which is expected to follow later this year and (b)identify suppliers who may be interested in bidding. The tender may be divided into lots for “core” services and one or “additional services”. A final decision on the form of tender process has not yet been made (e.g. full OJEU process or a non-OJEU process under financial services exemption).

II.1.6) Information about lots

This contract is divided into lots: No

II.2) Description

II.2.3) Place of performance

NUTS code:

UKL23

II.2.4) Description of the procurement

Respondents may include organisations who offer 1)only core services* or 2)core services and some/all of the additional services in II.2.14

*It is recognised that suppliers may or may not sub-contract elements of the core and additional services to its own third party suppliers where regulations permit* The operator is expected to have the ability to provide the following “core services” 1)establish and operate an ACS and other regulated and unregulated vehicles as required 2)prepare, maintain and adhere to policies and processes required by regulators (including the FCA) in relation to the operation of selected investment vehicles including provision of regulatory capital 3)establish and manage a range of sub-funds 4)carry out due diligence, contract with, monitor and provide oversight of investment managers and other third parties 5) report investment manager performance to funds/pool 6)maintain pricing of assets/shares, publish prices, issue/redeem shares

II.2.14) Additional information

“Additional services” required may include the ability to:

provide investment vehicles for the sole use of the Welsh pool

leverage business relationships to secure fee savings

advise on addition of sub funds

manage/oversee transition activity

monitor/act on triggers

manager monitoring/research/selection

enhanced performance/risk reporting

facilitate tax advice related to vehicle selection

II.3) Estimated date of publication of contract notice:

10/10/2016

Section IV: Procedure

IV.1) Description

IV.1.8) Information about Government Procurement Agreement (GPA)

The procurement is covered by the Government Procurement Agreement: Yes

Section VI: Complementary information

VI.3) Additional information

Organisations potentially interested in taking part in the procurement exercise expected to follow this PIN should respond to Procurement@Flintshire.gov.uk by 7th September.In your response please provide 1)The name of the company or companies that would provide the services 2)Confirmation of your ability to provide the core services 3) An indication as to which of the additional services you may wish to provide.Depending on the number of responses received the administering authorities will then host either one to one meetings with respondents or an engagement event for all respondents to discuss requirements with interested parties in more detail. It is intended that any preliminary engagement events will take place in Cardiff before the end of September.

NOTE: To register your interest in this notice and obtain any additional information please visit the Sell2Wales Web Site at http://www.sell2wales.gov.wales/Search/Search_Switch.aspx?ID=50154.

(WA Ref:50154)

VI.5) Date of dispatch of this notice

12/08/2016


Information added to the notice since publication.

Additional information added to the notice since it's publication.
No further information has been uploaded.
Main Contact: procurement@flintshire.gov.uk
Admin Contact: N/a
Technical Contact: N/a
Other Contact: N/a

Commodity Categories

Commodity Categories
IDTitleParent Category
66131100Pension investment servicesSecurity brokerage services

Delivery Locations

Delivery Locations
IDDescription
1023Flintshire and Wrexham

Alert Region Restrictions

The buyer has restricted the alert for this notice to suppliers based in the following regions.

Alert Region Restrictions
There are no alert restrictions for this notice.

Further Instructions

The Buyer has attached further instructions with this notice. Please read these carefully and take the necessary action(s).

Record your interest in this notice and you will be automatically sent clarifications and deadline date changes etc. Please note that recording your interest does not automatically enter you into the tender process for this notice, you still have to submit your response by the deadline stated. To record an interest in this notice and add it to your interests list please click the Record your interest now button at the top of the page.

The following additional documents have been attached to this notice. To obtain these documents please click the Record your interest now button at the top of the page.

The following additional documents have been attached to this notice. To obtain these documents please select the individual file names below.

Current Documents

CreatedNameDescriptionSizeDownloads
15/08/2016July SubmissionFOR INFORMATION- July Submission283.01 KB0

Replaced Documents

There are no previous versions of these documents

Copyright © Sell2Wales