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United Kingdom-Bromley: Pension investment services
Section I: Contracting authority
Main address: http://www.bromley.gov.uk
Section II: Object
Contract for Multi-Asset Income Manager.
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.
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 2 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.
Contract may be extended for up to 5 further periods of 60 months (5 years) each.
Full tender documentation is accessible via the London Tenders Portal and Applicants should complete only the Stage 1 Selection Documents at this stage. The Invitation to Tender and supporting documents should only be completed once an Applicant has been invited to submit a tender following assessment of the Stage 1 responses.
Section III: Legal, economic, financial and technical information
Section IV: Procedure
Section VI: Complementary information
Evaluation of the tender will be based on the CIPFA standing guide to the commissioning of local authority work and services tender evaluation model and in full compliance with EU Directives, the Council's Contract Procedure Rules and in accordance with the stated criteria. Tenderers should note that the evaluation of the above criteria for Quality issues etc. will also include the operation of minimum score thresholds. If the Tenderer's proposal receives a score below the required threshold then the bid may not be considered further. (The minimum acceptable score is a requirement to obtain at least half of the available points in any particular area).
An indicative use of this model can be downloaded from the Council's website at http://www.bromley.gov.uk/info/200095/tenders_and_contracts/265/submitting_tenders
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.
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.
To view this notice, please click here:
GO Reference: GO-2017721-PRO-10678349.
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.