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Denmark-Copenhagen: Portfolio management services
Section I: Contracting authority
Section II: Object
Tender for a Global Emerging Markets Equity mandate
The Danish National Research Foundation (DNRF) is looking for 1 tenderer, who can manage a global emerging markets equity mandate of app. 30 000 000 EUR in a European domiciled UCITS fund (Undertakings for Collective Investments in Transferable Securities).
The Danish National Research Foundation is looking for 1 Tenderer, who can manage a global emerging markets equity mandate of app. 30 000 000 EUR in a European domiciled UCITS fund (Undertakings for Collective Investments in Transferable Securities). No regional or country specific strategies are eligible to participate in this procurement. Neither strategies with main focus on emerging market small cap or frontier markets are covered by this procurement.
The contract period is three (3) years with option to extend the contract of external management, global emerging markets equity fund for one (1) year twice (five/5 years in all).
If more than five (5) candidates applies for pre-qualification, there will be a subsequent short listing down to five (5) tenderers.
DNRF will apply the below criteria for the pre-qualification process. The criteria are not listed according to priority. Criteria’s are:
— the candidate’s long term ability to deliver future risk adjusted excess returns,
— candidates can demonstrate that ESG are taken into account when constructing the portfolio,
— strength of reference client,
— strength of key staff.
Section III: Legal, economic, financial and technical information
The tenderer must fill in the following information in the ESPD part IV B:
For the years 2013, 2014, 2015, 2016 and 2017:
— Net EBITDA,
— Net earnings,
In order to pre-qualify, the candidates must meet the following minimum requirements:
— have a UCITS fund vehicle for the global emerging markets equity strategy,
— take ESG (Environmental, Social and Governance) issues into account in the management of the global emerging markets portfolio,
— the number of stocks in the global emerging markets equity portfolio (not counting cash positions) consisted of minimum 45 stocks at the 30.6.2018,
— the UCITS fund for the reference clients must have minimum 3 years GIPS compliant track record at the 30.6.2018,
— the key portfolio managers must have been responsible for managing the global emerging markets equity strategy for at least 2 years,
— the official benchmark must be MSCI emerging markets equity,
— must reply to the requested information on reference clients in the Excel file “Pre-qualification questions”.
The participants in the pre-qualification process must answer the questions in the Excel document “Pre-qualification questions”. The requested information in the Excel document refers to reference clients with a similar size of mandate as DNRF (reference clients must be invested in a UCITS fund).
Section IV: Procedure
Section VI: Complementary information
Pre-qualified tenderers are encouraged to search any ambiguities and uncertainties resolved by asking questions on the procurement documents.
There will be a time limit for questions in the tender submission stage.
All inquiries and questions must be in writing and made via digital tendering’s “Supplier questions and answers” function.
Additional information, including questions and answers, will be posted continuously on digital tendering in anonymous form. Tenderers are encouraged to keep them-selves updated.