Contract award notice
Results of the procurement procedure
Section I: Contracting
authority
I.1) Name and addresses
London Borough of Bromley
Civic Centre, Stockwell Close
Bromley
BR1 3UH
UK
Contact person: James Mullender
E-mail: james.mullender@bromley.gov.uk
NUTS: UKJ4
Internet address(es)
Main address: http://www.bromley.gov.uk
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
Contract for Multi-Asset Income Manager
Reference number: DN282945
II.1.2) Main CPV code
66131100
II.1.3) Type of contract
Services
II.1.4) Short description
The London Borough of Bromley (“the Authority”) in its capacity as Administrating Authority for the London Borough of Bromley Pension Fund (“the Fund”) is seeking to appoint 1 or more Pension Fund Multi-Asset Income (“MAI”) managers as detailed in the Tender Documents.
The tender opportunity will be run electronically through the London Tenders Portal and suppliers will need to register their company with the portal as soon as possible (if they have not already done so) at www.londontenders.org to ensure they are able to access and submit the relevant documents online.
All applications must be made through the London Tenders Portal only and not to the Contact Details contained within this Notice.
II.1.6) Information about lots
This contract is divided into lots:
No
II.1.7) Total value of the procurement
Value excluding VAT:
3 300 000.00
GBP
II.2) Description
II.2.3) Place of performance
NUTS code:
UKJ4
Main site or place of performance:
Kent.
II.2.4) Description of the procurement
The Council's Pension Fund is a defined benefit scheme operated under the provisions of the Local Government Pension Scheme (LGPS) Regulations, for the purpose of providing pension benefits for its employees. The investment regulations (The LGPS (Management and Investment of Funds) Regulations 2016) allow local authorities to use all the established categories of investments, e.g. equities, bonds, property etc, and to appoint external investment managers who are required to use a wide variety of investments and to comply with certain specific limits.
It is proposed that two managers be appointed for MAI Funds, to increase diversification and to aid performance appraisal. The Council has appointed AllenbridgeEpic to manage the procurement of Fund Managers for the new mandates.
II.2.5) Award criteria
Price
II.2.11) Information about options
Options:
Yes
Description of options:
Contract may be extended for up to 5 further periods of 60 months (5 years) each.
II.2.13) Information about European Union funds
The procurement is related to a project and/or programme financed by European Union funds:
No
II.2.14) Additional information
The Council may make use of the contract for further negotiated arrangements to the extent permissible and in compliance with the relevant Procurement Regulations.
Prospective contractors are advised that the documents issued at this time in conjunction with the OJEU Tender Notice may be supplemented and/or amended as provided for in Regulation 53(6) of the Public Contracts Regulations 2015.
Section IV: Procedure
IV.1) Description
IV.1.1) Type of procedure
Restricted procedure
IV.1.8) Information about Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement:
Yes
Section V: Award of contract
A contract/lot is awarded:
Yes
V.2 Award of contract
V.2.1) Date of conclusion of the contract
14/12/2017
V.2.2) Information about tenders
Number of tenders received: 7
The contract has been awarded to a group of economic operators:
Yes
V.2.3) Name and address of the contractor
FIL Pensions Management
Oakhill House, 130 Tonbridge Road, Hildenborough
Tonbridge
UK
NUTS: UKJ4
The contractor is an SME:
No
V.2.3) Name and address of the contractor
Schroder Investment Management
31 Gresham Street
London
UK
NUTS: UKI
The contractor is an SME:
No
V.2.4) Information on value of the contract/lot (excluding VAT)
Total value of the contract/lot:
: 3 300 000.00
GBP
V.2.5) Information about subcontracting
Section VI: Complementary information
VI.3) Additional information
The Council works closely with a number of its surrounding local authorities on procurement activity and is a member of the South East London Procurement Group (comprising of the London Boroughs of Bromley, Bexley, Lewisham, Greenwich, Lambeth and Southwark). In addition to the partner organisation identified above, in appropriate circumstances and in compliance with any legal and regulatory requirement, the opportunity for services to be provided through this contract may also be offered to members of this organisation and who may have similar usage volumes.
To view this Notice, please click here:
https://www.delta-esourcing.com/delta/viewNotice.html?noticeId=315019420
GO Reference: GO-201851-PRO-12338118
VI.4) Procedures for review
VI.4.1) Review body
Royal Courts of Justice
The Strand
London
WC2A 2LL
UK
Telephone: +44 2079476000
VI.4.2) Body responsible for mediation procedures
Royal Courts of Justice
The Strand, Holborn
London
WC2A 2LL
UK
VI.4.3) Review procedure
Precise information on deadline(s) for review procedures:
Complaints during the procurement process are conducted under the Official Journal for the European Union (OJEU) in line with the Public Contracts Regulations (2015). Our processes are conducted in a fair, open and transparent manner. We are committed to developing constructive relationships with suppliers and are keen to generate maximum competition in all of our procurements to deliver best value and sustainable cost savings for the taxpayer. The outcome of the evaluation process is totally dependent on the competitive strength of the individual bid submissions, regardless of the bidder's size or place on existing / previous arrangements. We are committed to treating all suppliers fairly and all feedback and complaints are given full and fair consideration. If at any stage we believe that a mistake has been made by us, please be assured that we will rectify it to the extent that we can legally do so. In order to complain you must first be registered on the eSourcing tool for the relevant procurement event. All complaints must be raised via the eSourcing tool messaging facility. If you are still unsatisfied at the outcome of a procurement competition and wish to challenge it, then you should issue legal proceedings under Part 3 Chapter 6 (Applications to the Court) of the Public Contracts Regulations 2015 and serve them on the Government Legal Department in accordance with the Civil Procedure Rules Part 66 (Crown Proceedings) and its associated Practice Direction. Please note that service by email is subject to prior agreement with the Head of Litigation at the Government Legal Department Solicitor's Department and is not routinely given.
VI.4.4) Service from which information about the review procedure may be obtained
Royal Courts of Justice
The Strand, Holborn
London
WC2A 2LL
UK
Telephone: +44 2079476000
VI.5) Date of dispatch of this notice
01/05/2018