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Services - 382840-2016

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29/10/2016    S210

United Kingdom-Maidstone: Financial and insurance services

2016/S 210-382840

Prior information notice


Directive 2004/18/EC

Section I: Contracting authority

I.1)Name, addresses and contact point(s)

Official name: Kent County Council
Postal address: County Hall
Town: Maidstone
Postal code: ME14 1XQ
Country: United Kingdom
Telephone: +44 3000411315

Internet address(es):

General address of the contracting authority:

Further information can be obtained from:
Official name: Kent County Council
Postal address: County Hall
Town: Maidstone
Postal code: ME14 1XQ
Country: United Kingdom
Telephone: +44 3000411315
Internet address:

I.2)Type of the contracting authority
Regional or local authority
I.3)Main activity
Other: access LGPS pool
I.4)Contract award on behalf of other contracting authorities
The contracting authority is purchasing on behalf of other contracting authorities: yes

Section II.B: Object of the contract (Supplies or services)

II.1)Title attributed to the contract by the contracting authority:
Collective Investment Vehicle (CIV) operator for the ACCESS LGPS pool.
II.2)Type of contract and place of delivery or of performance
Service category No 6: Financial services a) Insurances services b) Banking and investment services


II.3)Information on framework agreement
The notice involves the establishment of a framework agreement: no
II.4)Short description of nature and quantity or value of supplies or services:
The access LGPS Pension Funds wish to carry out market research with regulated third party operators who would be able to provide one or more collective vehicles, in order to benefit from economies of scale from the management of their pension fund assets. Further background can be found in the ‘July Submission' document attached to the Kent Business Portal advert for the same opportunity at The administering authorities are considering the scope and specification of services that may be required should they decide to procure such services in the future. The market engagement process will (a)help inform the specification of services for an Invitation to Tender (ITT) which may follow this process in early 2017, and (b)identify suppliers who may be interested in bidding if a tender process should follow. If as a result of this PIN process it is decided to tender for these services, the tender may be divided into lots for “core” services and “additional” services.
Estimated cost excluding VAT: 0 GBP
II.5)Common procurement vocabulary (CPV)

66000000 Financial and insurance services

II.6)Scheduled date for start of award procedures
II.7)Information about Government Procurement Agreement (GPA)
The contract is covered by the Government Procurement Agreement (GPA): yes
II.8)Additional information:
It is anticipated that the access Pool may procure for 2 Lots — Lot 1: Core Services and Lot 2: Additional Services. The Operator would be expected to be able to provide the following core services, and to engage with an asset servicer for this purpose. They may also be able to provide some / all of the additional services.
Lot 1: Core Services
1) Establish and operate an ACS and other regulated and unregulated vehicles as required.
2) Perform the regulatory compliance functions required for operating a range of investment vehicles, including provision of regulatory capital.
3) Establish and administer a range of sub-funds.
4) Administer and provide oversight of investment managers and other third parties i.e. carry out due diligence, contract with and monitor.
5) Report on investment manager performance to funds/pool.
6) May be required to provide stand-alone investment vehicles for the sole use of the ACCESS pool.
Lot 2: Additional Services.
1) Manager searches/recommendations/monitoring.
2) Assist in transition activities.
3) Leverage business relationships to secure fee savings.
4) Advise on addition of sub funds.
5) Monitor/act on triggers.
6) Enhanced performance/risk reporting.
7) Advise of approaches to rebalancing policies.

Section III: Legal, economic, financial and technical information

III.1)Conditions relating to the contract
III.1.1)Main financing conditions and payment arrangements and/or reference to the relevant provisions governing them:
III.2)Conditions for participation
III.2.1)Information about reserved contracts

Section VI: Complementary information

VI.1)Information about European Union funds
The contract is related to a project and/or programme financed by European Union funds: no
VI.2)Additional information:

Organisations interested in taking part in the market engagement exercise should respond to by Friday 25.11.2016. In your response please provide:

1) The name of the company or companies that would provide the services.
2) Confirmation of your ability to provide the core services.
3) An indication as to which of the additional services you may wish to provide
Depending on the number of responses received the administering authorities will host an engagement event(s) to discuss requirements with interested parties in more detail. There may be scope for additional one to one meetings at that event. It is intended that any preliminary engagement events will take place in London before the end of November.
VI.3)Information on general regulatory framework
VI.4)Date of dispatch of this notice: