Skip to main content

We've saved some files called cookies on your device. These cookies are:

  • essential for the site to work
  • to help improve our website by collecting and reporting information on how you use it

We would also like to save some cookies to help tailor communications.

BETA
You're viewing an updated version of this service - your feedback will help us to improve it.

01 Prior Information Notice (PIN)

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

  • First published: 15 August 2016
  • Last modified: 15 August 2016

Contents

Summary

OCID:
ocds-kuma6s-050154
Published by:
Flintshire County Council
Authority ID:
AA0419
Publication date:
15 August 2016
Deadline date:
-
Notice type:
01 Prior Information Notice (PIN)
Has documents:
Yes
Has SPD:
No
Has Carbon Reduction Plan:
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.

Full notice text

Prior information notice

This notice is for prior information only

Section I: Contracting 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

Coding

Commodity categories

ID Title Parent category
66131100 Pension investment services Security brokerage services

Delivery locations

ID Description
1023 Flintshire and Wrexham

Alert region restrictions

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

ID Description
There are no alert restrictions for this notice.

About the buyer

Main contact:
procurement@flintshire.gov.uk
Admin contact:
N/a
Technical contact:
N/a
Other contact:
N/a

Further information

Date Details
No further information has been uploaded.

Additional Documents

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

Current documents

pdf
pdf283.01 KB
This file may not be accessible.

Replaced documents

There are no previous versions of these documents.


0800 222 9004

Lines are open 8:30am to 5pm Monday to Friday.

Rydym yn croesawu galwadau'n Gymraeg.

We welcome calls in Welsh.