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Summary

OCID:
Published by:: University of Birmingham
Authority ID:: AA20042
Publication date:: 18 November 2019
Deadline date:: -
Notice type:: Contract Award Notice
Has documents:: No
Has SPD:: No
Has Carbon Reduction Plan:: N/A

Abstract

Investment Advice

The provision of quarterly investment reviews/reports of the performance of the University’s University Investment Fund and Long Term Endowment Fund.

Attendance at quarterly investment sub committee meetings to review all aspects of investment performance and asset allocation relating to the University Investment Fund and Long Term Endowment Fund. Ad-hoc meetings may also be required with University management. Investment advice required includes the following:

(i) investment strategy;

(ii) market review;

(iii) market outlook;

(iv) asset Allocation, including annual Strategic Asset Allocation Reviews for the University Investment Fund and Long Term Endowment Fund;

(v) risk management;

(vi) advice on governance issues (e.g. ethical policy, voting rights);

(vii) consideration of ‘alternative’ asset classes;

(viii) information and advice on investment industry trends, new and existing investment management methods, areas and products;

(ix) recommending benchmarks for investment performance measurement;

(x) fee negotiation with investment managers (whether existing or new);

(xi) advice on the appointment and dismissal of Fund Managers;

(xii) the provision of relevant information for and participate in investment management “Beauty Parades” (i.e. advertisement, short list, questionnaires, final interviews etc.).

Performance and risk measurement

Quarterly investment reports are also required to include performance analysis/measurement information. Performance analysis will be driven by data received from external investment managers. Reports should include as a minimum detail on:

(xiii) underlying managers’ performance compared to the agreed benchmarks;

(xiv) peer group performance comparison;

(xv) ‘See-through’ asset allocation analysis, including relative regional and sector analysis;

(xvi) performance attribution analysis;

(xvii) active risk analysis;

(xviii) attribution to total fund excess return analysis.

Performance should be graphically displayed and include narrative summary and a breakdown by factors. Performance should be reconciled to managers' performance data before being provided to the University. The reports are required to be bespoke and reflect the University’s particular requirements.

Full notice text

Contract award notice

Results of the procurement procedure

Section I: Contracting entity

I.1) Name and addresses

University of Birmingham

Edgbaston

Birmingham

B15 2TT

Contact person: Paul Markham

E-mail: p.markham@bham.ac.uk

NUTS: UKG31

Internet address(es)

Main address: https://www.birmingham.ac.uk/index.aspx

Address of the buyer profile: https://in-tendhost.co.uk/universityofbirmingham/aspx/Home

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

Provision of Investment Consultancy and Investment Performance Monitoring and Reporting Services — University of Birmingham

Reference number: FRAM432/19

II.1.2) Main CPV code

79400000

II.1.3) Type of contract

Services

II.1.4) Short description

Investment advice: the provision of quarterly investment reviews/reports of the performance of the University’s University Investment Fund and Long Term Endowment Fund.

Performance and risk management: quarterly investment reports are also required to include performance analysis/measurement information. Performance analysis will be driven by data received from external investment managers. Performance should be graphically displayed and include narrative summary and a breakdown by factors. Performance should be reconciled to managers' performance data before being provided to the University.

II.1.6) Information about lots

This contract is divided into lots: No

II.1.7) Total value of the procurement

Value excluding VAT: 250 000.00 EUR

II.2) Description

II.2.3) Place of performance

NUTS code:

UKG31

Main site or place of performance:

University of Birmingham.

II.2.4) Description of the procurement

Investment Advice

The provision of quarterly investment reviews/reports of the performance of the University’s University Investment Fund and Long Term Endowment Fund.

(i) investment strategy;

(ii) market review;

(iii) market outlook;

(iv) asset Allocation, including annual Strategic Asset Allocation Reviews for the University Investment Fund and Long Term Endowment Fund;

(v) risk management;

(vi) advice on governance issues (e.g. ethical policy, voting rights);

(vii) consideration of ‘alternative’ asset classes;

(viii) information and advice on investment industry trends, new and existing investment management methods, areas and products;

(ix) recommending benchmarks for investment performance measurement;

(x) fee negotiation with investment managers (whether existing or new);

(xi) advice on the appointment and dismissal of Fund Managers;

(xii) the provision of relevant information for and participate in investment management “Beauty Parades” (i.e. advertisement, short list, questionnaires, final interviews etc.).

Performance and risk measurement

(xiii) underlying managers’ performance compared to the agreed benchmarks;

(xiv) peer group performance comparison;

(xv) ‘See-through’ asset allocation analysis, including relative regional and sector analysis;

(xvi) performance attribution analysis;

(xvii) active risk analysis;

(xviii) attribution to total fund excess return analysis.

II.2.5) Award criteria

Quality criterion: Experience/resources / Weighting: 20

Quality criterion: Added value / Weighting: 20

Quality criterion: Reporting / Weighting: 25

Price / Weighting: 35

II.2.11) Information about options

Options: Yes

Description of options:

Initial 2 years with 2 x 1 year options to extend up to 4 years maximum.

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

Open procedure

IV.1.3) Information about a framework agreement or a dynamic purchasing system

The procurement involves the establishment of a framework agreement

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:

2018/S 238-543872

Section V: Award of contract

Contract No: FRAM432/19

Title: Provision of Investment Consultancy and Investment Performance Monitoring and Reporting Services — University of Birmingham

A contract/lot is awarded: Yes

V.2 Award of contract

V.2.1) Date of conclusion of the contract

23/08/2019

V.2.2) Information about tenders

Number of tenders received: 10

Number of tenders received by electronic means: 10

The contract has been awarded to a group of economic operators: No

V.2.3) Name and address of the contractor

Hymans Robertson LLP

London

NUTS: UKI

The contractor is an SME: No

V.2.4) Information on value of the contract/lot (excluding VAT)

Initial estimated total value of the contract/lot:

Total value of the contract/lot: : 250 000.00 EUR

V.2.5) Information about subcontracting

Section VI: Complementary information

VI.4) Procedures for review

VI.4.1) Review body