Dienstleistungen - 503895-2018

Unrevised Machine Translation

15/11/2018    S220    - - Services - Contract notice - Open procedure 

Finland-Turku: Financial and insurance services

2018/S 220-503895

Contract notice

Services

Legal Basis:

Directive 2014/24/EU

Section I: Contracting authority

I.1)Name and addresses
Turku 2029 -säätiö
2934847-3
PL 630 (Käyntiosoite: Linnankatu 31, 2. krs)
Turku
20101
Finland
Contact person: Tapani Järvinen
Telephone: +358 449075896
E-mail: tapani.jarvinen@turku.fi
NUTS code: FI1C1

Internet address(es):

Main address: http://www.turku.fi/hankinnat

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://tarjouspalvelu.fi/turku
Additional information can be obtained from the abovementioned address
Tenders or requests to participate must be submitted electronically via: https://tarjouspalvelu.fi/turku?id=203769&tpk=d11e28b9-1ed1-4fcc-b9e0-29139661e69f
I.4)Type of the contracting authority
Other type: määtiö
I.5)Main activity
Other activity: Muu palvelutoiminta

Section II: Object

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

Finance the Turku 2029 Foundation

II.1.2)Main CPV code
66000000
II.1.3)Type of contract
Services
II.1.4)Short description:

The strategic acquisition of the City of Turku will be asked by the Turku 2029 foundation to bid for the Foundation’s financial management.

The procurement is carried out in 2 parts:

1 Shares and cash, and

2 Alternative investments.

The Turku 2029 Foundation will have a capital of EUR 21 million and the share of the capital to be invested is reflected in Annex 3 of the Invitation to Tender.

A tenderer may offer one or both packages.

One (1) service provider shall be selected for each subsystem.

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
II.2)Description
II.2.1)Title:

Shares and cash

Lot No: 1
II.2.2)Additional CPV code(s)
66000000
66140000
II.2.3)Place of performance
NUTS code: FI1C1
II.2.4)Description of the procurement:

Part 1 consists of shares and cash. Equity investments and their design allotment are specified in Annex 3. In principle, an annual rate of return of 5 % (5) per year should be sought for this share position in the current market situation. In addition, the Foundation’s investment plan includes the following: The focus of equity investments shall be on liquid, low priced companies that are low priced, which are assumed to have a good and growing expected long-term dividend return and sustainable dividend payments. In cash, this means funds held in a payment account. The Foundation reserves the right to accept the counterparty to which the payment account may be opened. The minimum interest rate for the accounting investment should be 0 % (0 %), which means that the negative interest rate conditions are not accepted.

The starting point is that the share weight is most of the portfolio in the long term, but the market situation and the tactical view of the Treasurer allow cash to be up to 100 % over time in the portfolio. In the overall management of a portfolio, there is an active measure of the active defence of capital/loss of capital in the allocation decisions.

A unit-linked capitalisation contract within the meaning of Section 18 of the Act on the Financial Agreement or the Insurance Groups shall be concluded with the selected service provider.

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
Start: 01/01/2019
End: 31/12/2029
This contract is subject to renewal: no
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
II.2)Description
II.2.1)Title:

Alternative investments

Lot No: 2
II.2.2)Additional CPV code(s)
66000000
66140000
II.2.3)Place of performance
NUTS code: FI1C1
II.2.4)Description of the procurement:

The subject of the contract is the financial mandate consisting of a full mandate consisting of alternative investments. The investment mandate is characterised by diversification both at asset class level, in terms of investment strategy as well as at geographical level and from a customer perspective. The alternative investments claim diversification benefits in relation to other asset classes, i.e. shares, long interest rate investments and cash (maximum maturity 12 months). The purpose of the alternative investments is 7 (7)% annual return (after all costs), of which the annual cash-flow objective is 5 (5)%. Alternative investments may consist of illiquid investments as follows: non-liquid interest rate investments (Private Debt), non-liquid equity investments (Private Equity) and illiquid property investments. As a derogation from the beginning of the investment period and up to three (3) years after the start of the mandate, the portfolio of investment solutions may also include liquid instruments to manage liquidity. The assets of an alternative investment portfolio shall be invested primarily in investments not subject to public trade. These include alternative interest investments, real estate investments and capital injections to non-listed companies. As a general rule, the investment settlement of alternative investments shall not allow hedge fund investments, investment in raw materials or other liquid investment products with liquid alternative investments.

The objective of the investment solution is to be exposed to a illiquidity premium. For all investees, the asset manager must be aware of, and take into account, the investment horizon of the foundation, that is to say the assets of the foundation must be in liquid form in 2029 and, as a result, investments of the type ‘Private Equity’ should be due in that time period.

A unit-linked capitalisation contract within the meaning of Section 18 of the Act on the Financial Agreement or the Insurance Groups shall be concluded with the selected service provider.

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
Start: 01/01/2019
End: 31/12/2029
This contract is subject to renewal: no
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

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: yes
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: 17/12/2018
Local time: 11:00
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:
Finnish
IV.2.6)Minimum time frame during which the tenderer must maintain the tender
Duration in months: 4 (from the date stated for receipt of tender)
IV.2.7)Conditions for opening of tenders
Date: 17/12/2018
Local time: 11:01

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:
VI.4)Procedures for review
VI.4.1)Review body
Markkinaoikeus
Radanrakentajantie 5
Helsinki
00520
Finland
Telephone: +358 295643300
E-mail: markkinaoikeus@oikeus.fi
Fax: +358 295643314

Internet address: http://www.oikeus.fi/markkinaoikeus

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:
14/11/2018