Services - 428751-2019

Unrevised Machine Translation

12/09/2019    S176

Luxembourg-Luxembourg: Portfolio management services

2019/S 176-428751

Contract notice

Services

Legal Basis:

Directive 2014/24/EU

Section I: Contracting authority

I.1)Name and addresses
Fonds de compensation commun au régime général de pension
34-40, avenue de la Porte-Neuve
Luxembourg
L-2227
Luxembourg
Contact person: Fonds de compensation
Telephone: +352 26203483
E-mail: fondsdecompensation@fdc.lu
Fax: +352 462566
NUTS code: LU

Internet address(es):

Main address: https://www.fdc.lu/

I.2)Information about joint procurement
I.3)Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at: https://pmp.b2g.etat.lu/?page=entreprise.EntrepriseAdvancedSearch&AllCons&refConsultation=18526&orgAcronyme=t5y
Additional information can be obtained from the abovementioned address
Electronic communication requires the use of tools and devices that are not generally available. Unrestricted and full direct access to these tools and devices is possible, free of charge, at: https://pmp.b2g.etat.lu/?page=entreprise.EntrepriseAdvancedSearch&AllCons&refConsultation=18526&orgAcronyme=t5y
I.4)Type of the contracting authority
Body governed by public law
I.5)Main activity
Social protection

Section II: Object

II.1)Scope of the procurement
II.1.1)Title:

Allocation of portfolio management assignments

Reference number: 1901419
II.1.2)Main CPV code
66140000
II.1.3)Type of contract
Services
II.1.4)Short description:

The purpose of the contract is to provide portfolio management services for the FDC, which in 2007 created a variable Capital Investment Company — a specialised investment fund (SICAV-FIS) with multiple compartments. The contract is divided into 3 lots, each batch covering an indexed management mandate and a specific asset class. The total number of mandates to be awarded is 3. The amount of the assets of the different lots is given only as a guide and may vary during the execution of the mandate. Tenders shall be selected on the basis of the most economically advantageous tender. The detailed criteria for the selection of tenders, the progress of the contract and any other arrangements relating to this contract are set out in the tender procedure and guidelines which can be downloaded from the public procurement portal (www.marches-publics.lu).

II.1.5)Estimated total value
II.1.6)Information about lots
This contract is divided into lots: yes
Tenders may be submitted for all lots
Maximum number of lots that may be awarded to one tenderer: 2
II.2)Description
II.2.1)Title:

Euro-denominated bonds

Lot No: 1
II.2.2)Additional CPV code(s)
66140000
II.2.3)Place of performance
NUTS code: LU
II.2.4)Description of the procurement:

Lot 1 relates to indexed management of a bond portfolio investing in bonds that are part of the benchmark associated with the corresponding mandate with the aim of replicating the performance of the mandate. The reference index used is the ‘Bloomberg Barclays Euro Aggregate Index ex securised’.

II.2.5)Award criteria
Price is not the only award criterion and all criteria are stated only in the procurement documents
II.2.6)Estimated value
II.2.7)Duration of the contract, framework agreement or dynamic purchasing system
Duration in months: 36
This contract is subject to renewal: yes
Description of renewals:

The duration is 3 years, with the possibility of renewal from year to year, unless early termination is given by the FDC or by the contractor by giving 3 months’ notice. The maximum duration of a term of office is 10 years.

II.2.10)Information about variants
Variants will be accepted: no
II.2.11)Information about options
Options: no
II.2.12)Information about electronic catalogues
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

Indicative amount of the mandate: EUR 1 955 000 000.

II.2)Description
II.2.1)Title:

Bonds

Lot No: 2
II.2.2)Additional CPV code(s)
66140000
II.2.3)Place of performance
NUTS code: LU
II.2.4)Description of the procurement:

Lot 2 relates to indexed management of a bond portfolio investing in bonds that are part of the benchmark associated with the corresponding mandate with the aim of replicating the performance of the mandate. The reference index used is the ‘Bloomberg Barclays Global Aggregate Index ex securised’ (EUR).

II.2.5)Award criteria
Price is not the only award criterion and all criteria are stated only in the procurement documents
II.2.6)Estimated value
II.2.7)Duration of the contract, framework agreement or dynamic purchasing system
Duration in months: 36
This contract is subject to renewal: yes
Description of renewals:

The duration is 3 years, with the possibility of renewal from year to year, unless early termination is given by the FDC or by the contractor by giving 3 months’ notice. The maximum duration of a term of office is 10 years.

II.2.10)Information about variants
Variants will be accepted: no
II.2.11)Information about options
Options: no
II.2.12)Information about electronic catalogues
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

Indicative amount of the mandate: EUR 2 285 000 000.

II.2)Description
II.2.1)Title:

Shares emerging markets

Lot No: 3
II.2.2)Additional CPV code(s)
66140000
II.2.3)Place of performance
NUTS code: LU
II.2.4)Description of the procurement:

Lot 3 relates to index-linked management of a portfolio of shares investing in shares in the benchmark associated with the mandate corresponding with the aim of replicating the performance of the mandate. The relevant benchmark is ‘MSCI Emerging Market Index Net’.

II.2.5)Award criteria
Price is not the only award criterion and all criteria are stated only in the procurement documents
II.2.6)Estimated value
II.2.7)Duration of the contract, framework agreement or dynamic purchasing system
Duration in months: 36
This contract is subject to renewal: yes
Description of renewals:

The duration is 3 years, with the possibility of renewal from year to year, unless early termination is given by the FDC or by the contractor by giving 3 months’ notice. The maximum duration of a term of office is 10 years.

II.2.10)Information about variants
Variants will be accepted: no
II.2.11)Information about options
Options: no
II.2.12)Information about electronic catalogues
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

Indicative amount of the mandate: EUR 675 000 000.

Section III: Legal, economic, financial and technical information

III.1)Conditions for participation
III.1.1)Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers
III.1.2)Economic and financial standing
III.1.3)Technical and professional ability
III.1.5)Information about reserved contracts
III.2)Conditions related to the contract
III.2.1)Information about a particular profession
III.2.2)Contract performance conditions:
III.2.3)Information about staff responsible for the performance of the contract

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
IV.1.4)Information about reduction of the number of solutions or tenders during negotiation or dialogue
IV.1.6)Information about electronic auction
IV.1.8)Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: no
IV.2)Administrative information
IV.2.1)Previous publication concerning this procedure
IV.2.2)Time limit for receipt of tenders or requests to participate
Date: 31/10/2019
Local time: 18:00
IV.2.3)Estimated date of dispatch of invitations to tender or to participate to selected candidates
IV.2.4)Languages in which tenders or requests to participate may be submitted:
English, French, German
IV.2.6)Minimum time frame during which the tenderer must maintain the tender
IV.2.7)Conditions for opening of tenders
Date: 31/10/2019
Local time: 18:00

Section VI: Complementary information

VI.1)Information about recurrence
This is a recurrent procurement: no
VI.2)Information about electronic workflows
VI.3)Additional information:

The consultation documents are available for downloading on the public procurement portal (www.marches-publics.lu) with the exception of the questionnaire (Annex 1) and the management contract (Annex 6). For reasons of confidentiality of the information made available through these two documents, the latter are to be requested separately by any company interested in the FDC via the Public Procurement Portal using the ‘Question’ tab and by annexing the model application for obtaining the duly completed documents attached to the downloadable consultation documents (Annex 8). The detailed arrangements for the withdrawal of consultation documents are set out in the consultation regulation. The minimum conditions for participation in this consultation are set out in point 2.8 of the consultation regulation. Tenders must be submitted in electronic form via the public procurement portal before the closing date and time set out in the consultation regulation, i.e. 31.10.2019 to 18: 00 (Luxembourg time). Tenders that arrive at the FDC after the date and time limit will not be accepted. The detailed arrangements for the submission of tenders are set out in the consultation regulation. The FDC reserves the right to award reserve mandates by lot. The definition and characteristics of a reserve mandate are given in point 2.5 of the consultation regulation.

VI.4)Procedures for review
VI.4.1)Review body
Cours administrative du Grand-Duché de Luxembourg
Luxembourg
Luxembourg
VI.4.2)Body responsible for mediation procedures
VI.4.3)Review procedure
VI.4.4)Service from which information about the review procedure may be obtained
VI.5)Date of dispatch of this notice:
10/09/2019