Evaluation of each Reference is based on three criteria
(1) Client resemblance to LD Pensions
(2) Project characteristics
(3) Capabilities, experience, and demonstrated outcomes
For each Reference a maximum of 25 points can be awarded. Thus, in total, Applicants can be awarded a maximum of 75 points.
Regarding criterion (1): References concerning clients which resemble LD Pensions in terms of size (same or larger) are preferred, references concerning clients that are unaffiliated to the Applicant are preferred.
Regarding criterion (2): References concerning clients with long duration relationships with the Applicant in Smart Beta mandates are preferred. References with mandates of a similar (or larger) volume as the LD Pensions' volume are preferred. References regarding client relationships in Smart Beta mandates that have not been terminated or expired are preferred.
Regarding criterion (3)
For all three references: References using the traditional academically tested factors are preferred. References regarding projects that have resulted in reviewed academic articles, books or other academic literature are preferred.
For References 1 and 2: References concerning global all country strategies (including emerging markets) will be preferred over global developed strategies. References with client directed customization regarding Portfolio Construction are preferred. References where the outcome was long term positive alpha generation and favorable risk/return vs. the relevant benchmark are preferred.
For Reference 3: Preference for more than one methodology employed. References where completion advice was provided will be preferred; references demonstrating ability to advise on multi-manager portfolios will be preferred. References with client directed customization are preferred. References where the Ancillary Service led to a direct positive effect on the client's total portfolio return/risk vs. relevant benchmark are preferred.
If 2 or more Applicants are awarded the same total score, the Applicant with the highest score regarding the criterion “Firm Capabilities, Experience and Outcomes” will be favored. If two or more Applicants are still awarded the same score, the Applicant with the highest score regarding the criterion “Project characteristics” will be favored. If two or more Applicants are still awarded the same score, the Applicant with the highest score regarding the criterion “Client resemblance to LD Pensions” will be favored. If two or more Applicants are still awarded the same score, LD Pensions will draw lots.