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Contract Notice

Provision of Fund Administration and Depositary Services for London LGPS CIV Ltd.

  • First published: 25 July 2014
  • Last modified: 25 July 2014
  • Version: N/A
  • This file may not be fully accessible.

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To record your interest or obtain additional information or documents please find instructions within the Full Notice Text. (NOTE: Contract Award Notices and Prior Information Notices do not normally require a response)

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Contents

Summary

OCID:
Published by:
London LGPS CIV Ltd
Authority ID:
AA30785
Publication date:
25 July 2014
Deadline date:
19 August 2014
Notice type:
Contract Notice
Has documents:
No
Has SPD:
No
Has Carbon Reduction Plan:
N/A

Abstract

Appointment of a Fund Administrator and Depositary for a UK ACS Fund. Services to be provided may include but not limited to fund accounting, fund administration, transfer agency, global custody (including safekeeping of assets, trade settlement, tax collection, corporate actions, proxy voting), performance measurement, foreign exchange, cash management, and on-line reporting.

Please note London Councils are managing the procurement on behalf of the ACS Operator, with whom the final contracts will be executed.

Full notice text

CONTRACT NOTICE – OFFICIAL JOURNAL

Section I: Contracting Authority

I.1)

Name, Address and Contact Point(s)


London LGPS CIV Ltd

59½ Southwark Street

London

SE1 0AL

UK

London LGPS CIV Ltd, 59½ Southwark Street, London SE1 0AL

Freddie Fuller

+44 2079349844

pensionsciv@londoncouncils.gov.uk


http://www.londoncouncils.gov.uk/policylobbying/localgovernmentfinance/civpensions/


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I.2)

Type of contracting Authority and Main Activity or Activities

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No

Section II: Object of the Contract

II.1)

Description

II.1.1)

Title attributed to the contract by the contracting authority

Provision of Fund Administration and Depositary Services for London LGPS CIV Ltd.

II.1.2(a))

Type of works contract

II.1.2(b))

Type of supplies contract

II.1.2(c))

Type of service contract

6

II.1.2)

Main site or location of works, place of delivery or performance



UKI12

II.1.3)

This notice involves

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II.1.4)

Information on framework agreement (if applicable)

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Number of participants to the framework agreement envisaged

Duration of the framework agreement

Justification for a framework agreement the duration of which exceeds four years

Estimated total value of purchases for the entire duration of the framework agreement

Frequency and value of the contracts to be awarded

II.1.5)

Short description of the contract or purchase(s)

Appointment of a Fund Administrator and Depositary for a UK ACS Fund. Services to be provided may include but not limited to fund accounting, fund administration, transfer agency, global custody (including safekeeping of assets, trade settlement, tax collection, corporate actions, proxy voting), performance measurement, foreign exchange, cash management, and on-line reporting.

Please note London Councils are managing the procurement on behalf of the ACS Operator, with whom the final contracts will be executed.

II.1.6)

Common Procurement Vocabulary (CPV)

66160000
66162000
66170000

II.1.7)

Contract covered by the Government Procurement Agreement (GPA)

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II.1.8)

Division into lots

No

II.1.9)

Will variants be accepted

No

II.2)

Quantity or Scope of the Contract

II.2.1)

Total quantity or scope

It is anticipated the contract will have a contract award date in Q4 2014 and a start date for the provision of services during Q2 2015. The Fund has targeted an initial market value of approximately GBP 5bn with a yet unknown amount of segregated assets requiring safe-keeping and yet unknown amount in pooled funds held at third parties.

We anticipate possible annual fees of between GBP 50 000 — 500 000 over the course of the contract.

50 000500 000
GBP

II.2.2)

Options

The contract is for an initial period of 5 years with the option to extend for a further 5 years.

Provisional timetable for recourse to these options

Number of possible renewals

In the case of renewable supplies or service contracts, estimated time frame for subsequent contracts

II.3)

Duration of the contract or limit for completion

 01-04-2015 31-03-2020

Section III: Legal, Economic, Financial and Technical Information

III.1)

Conditions Relating to the Contract

III.1.1)

Deposits and guarantees required

III.1.2)

Main Terms of financing and payment and/or reference to the relevant provisions

III.1.3)

Legal form to be taken by the grouping of suppliers, contractors or service providers to whom the contract is to be awarded

Joint and Several Liability. Where bids are submitted as part of a consortium or association, the ‘group’ would be required to nominate a lead partner with whom the Contracting Authority can contract with or form themselves into a single legal entity.

III.1.4)

Other particular conditions to which the performance of the contract is subject

III.2)

Conditions for Participation

III.2.1)

Personal situation of economic operators, including requirements relating to enrolment on professional or trade registers


As per the minimum criteria section of the tender and the requirements of Regulation 23 of the Public Contacts Regulations 2006. Candidates must be registered under the terms of the Financial Services and Markets Act 2000 or equivalent law of European Economic Area (EEA) member state. Proof of registration should be provided.

III.2.2)

Economic and financial capacity


As per the requirements of Regulation 23 of the Public Contracts Regulations 2006 and as detailed in the PQQ document and subject to any further requirements during the process; details of corporate structure and ownership, external credit assessments, outstanding litigation/claims, insurance coverage, acceptable financial standing.



As per the requirements of Regulation 23 of the Public Contracts Regulations 2006 and as detailed in the PQQ document. Candidates and associated holding companies must have a minimum long term deposit credit rating of at least A2 / A / A (Moody's / S&P / Fitch) from 2 providers.


III.2.3)

Technical capacity


As per the requirements of regulation 23 of the Public Contracts Regulations 2006 and as detailed in the PQQ document.



As per the requirements of Regulation 23 of the Public Contracts Regulations 2006 and as detailed in the PQQ document. Candidates must be registered under the terms of the Financial Services and Markets Act 2000 or equivalents law of European Economic Area (EEA) member state. Proof of registration should be provided.


III.2.4)

Reserved contracts

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III.3)

Conditions Specific to Service Contracts

III.3.1)

Is provision of the service reserved to a specific profession?

Yes

Candidates must be registered under the terms of the Financial Services and Markets Act 2000 or equivalent law of European Economic Area (EEA) member state. Proof of registration should be provided.

III.3.2)

Will legal entities be required to state the names and professional qualifications of the personnel responsible for the execution of the service?

No

Section IV: Procedure

IV.1)

Type of Procedure


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Justification for the choice of accelerated procedure

IV.1.1)

Have candidates already been selected?

No

IV.1.2)

Limitations on the number of operators who will be invited to tender or to participate

Objective criteria for choosing the limited number of candidates

IV.1.3)

Reduction of the number of operators during the negotiation or dialogue

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IV.2)

Award Criteria

No


Yes

No

IV.2.2)

An electronic auction will be used

No

IV.3 Administrative Information

IV.3.1)

Reference number attributed to the notice by the contracting authority

IV.3.2)

Previous publication(s) concerning the same contract

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Other previous publications

IV.3.3)

Conditions for obtaining specifications and additional documents

 01-08-2014  11:45

 


IV.3.4)

Time-limit for receipt of tenders or requests to participate

 19-08-2014  12:00

IV.3.5)

Date of dispatch of invitations to tender or to participate to selected candidates


IV.3.6)

Language or languages in which tenders or requests to participate can be drawn up

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IV.3.7)

Minimum time frame during which the tenderer must maintain the tender 

IV.3.8)

Conditions for opening tenders





Section VI: Other Information

VI.1)

Indicate whether this procurement is a recurrent one and the Estimated timing for further notices to be published


VI.2)

Does the contract relate to a Project/Programme financed by Community Funds?

No



VI.3)

Additional Information

You will need to register with the www.competefor.com to record your expression of interest and to download the PQQ documentation.

VI.4)

Procedures for appeal

VI.4.1)

Body responsible for appeal procedures










Body responsible for mediation procedures










VI.4.2)

Lodging of appeals

A minimum 10 calendar day standstill period at the point of information on the award of the contract will be communicated to tenderers. The communication will contain contact details.

VI.4.3)

Service from which information about the lodging of appeals may be obtained










VI.5)

Dispatch date of this Notice

 22-07-2014

Coding

Commodity categories

ID Title Parent category
66162000 Custody services Trust and custody services
66170000 Financial consultancy, financial transaction processing and clearing-house services Banking and investment services
66160000 Trust and custody services Banking and investment services

Delivery locations

ID Description
100 UK - All

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:
pensionsciv@londoncouncils.gov.uk
Admin contact:
N/a
Technical contact:
N/a
Other contact:
N/a

Further information

Date Details
No further information has been uploaded.

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