Contract award notice
Results of the procurement procedure
Section I: Contracting
entity
I.1) Name and addresses
University of Bristol
4th Floor, Augustine's Courtyard, Orchard Lane
Bristol
BS1 5DS
UK
Telephone: +44 01179289000
E-mail: QQ23366@bristol.ac.uk
NUTS: UK
Internet address(es)
Main address: www.bristol.ac.uk
I.4) Type of the contracting authority
Body governed by public law
I.5) Main activity
Education
Section II: Object
II.1) Scope of the procurement
II.1.1) Title
Fiduciary Management Services for Pension & Assurance Scheme
Reference number: Fin-2306-011-PC_2695
II.1.2) Main CPV code
66131100
II.1.3) Type of contract
Services
II.1.4) Short description
The Trustee of the University of Bristol Pension and Assurance Scheme has decided to review the provider who manages the assets of the Scheme on a fiduciary basis. The scheme has assets of approximately 240 000 000 GBP. The appointed organisation will provide a full fiduciary management service to the Trustee of the University of Bristol Pension and Assurance Scheme (UBPAS), together with the necessary support in respect of the delivery of the investments, and operational aspects of investments, of the scheme.
The appointed organisation will decide on, oversee, execute or advise on the some or all of the following:
• Strategic Asset Allocation,
• Tactical Asset Allocation,
• Hedging Strategy Implementation,
• Manager selection,
• Asset class selection,
• Portfolio Construction,
• Managing scheme liquidity,
• Fund reporting,
• Trustee Education,
• Portfolio Implementation,
• Strategic Objectives,
• Risk Budget,
• Constraints,
• Hedging Strategy Design.
II.1.6) Information about lots
This contract is divided into lots:
No
II.1.7) Total value of the procurement
Value excluding VAT:
13 500 000.00
GBP
II.2) Description
II.2.2) Additional CPV code(s)
66141000
66500000
66520000
II.2.3) Place of performance
NUTS code:
UK
II.2.4) Description of the procurement
The objective of this Procurement is for the University of Bristol Pension and Assurance Scheme ("the Pension Scheme") to contract with a Fiduciary Management provider ("FM Provider) for fiduciary management services which will include provision of the necessary investment consultancy advice to allow the Trustees to set the strategic investment objectives for the Pension Scheme. The FM Provider will be responsible for reviewing and refining the de-risking plan in full discussion with the Trustee and the Pension Scheme's actuary, and University, as well as investing the assets. The appointed FM Provider will be required to take instructions from the Trustee as well as other persons notified to the FM Provider by the Trustee from time to time.
II.2.5) Award criteria
Price
II.2.11) Information about options
Options:
No
II.2.13) Information about European Union funds
The procurement is related to a project and/or programme financed by European Union funds:
No
Section IV: Procedure
IV.1) Description
IV.1.1) Type of procedure
Competitive procedure with negotiation
IV.1.8) Information about Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement:
Yes
IV.2) Administrative information
IV.2.1) Previous publication concerning this procedure
Notice number in the OJ S:
2024/S 000-023614
Section V: Award of contract
Contract No: Fin-2306-011-PC_2695
Title: Fiduciary Management Services for Pension & Assurance Scheme
A contract/lot is awarded:
Yes
V.2 Award of contract
V.2.1) Date of conclusion of the contract
27/08/2024
V.2.2) Information about tenders
Number of tenders received: 4
Number of tenders received by electronic means: 4
The contract has been awarded to a group of economic operators:
No
V.2.3) Name and address of the contractor
VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT (UK) LTD
20 Gracechurch Street, London, United Kingdom, EC3V 0BG
London
UK
NUTS: UK
The contractor is an SME:
No
V.2.4) Information on value of the contract/lot (excluding VAT)
Total value of the contract/lot:
: 13 500 000.00
GBP
V.2.5) Information about subcontracting
Section VI: Complementary information
VI.3) Additional information
Initial contract is 5 years with option to extend for a further 4 years in 2 year increments (5+2+2). 108 months if full term.
Contract will be retendered prior to expiry date as service will continue to be required.
VI.4) Procedures for review
VI.4.1) Review body
Royal Courts of Justice
London
UK
VI.5) Date of dispatch of this notice
11/07/2025