Provision of Fund Administration, Custody and Related Services

A Contract Award Notice
by NATIONAL EMPLOYMENT SAVINGS TRUST (NEST)

Source
Find a Tender
Type
Contract (Services)
Duration
10 year (est.)
Value
£50M
Sector
BUSINESS
Published
13 May 2024
Delivery
To 22 Mar 2034 (est.)
Deadline
n/a

Concepts

Location

London

Geochart for 2 buyers and 2 suppliers

2 buyers

2 suppliers

Description

This is a contract for the provision of fund administration, custody and related services. Core Services included within the scope of the contract: - Custodian services - Asset allocation and rebalancing services - Investment Performance measurement - Investment Compliance monitoring - Investment Tax services Additional services that may be included throughout the term of the contract include: - FX Overlay - Public and private market investments - Data management The contract is for an initial 10-year period with the option to extend up to an additional 5 years (15 years in total).

Award Detail

1 Northern Trust Company London Branch (London)
  • Provision of Fund Administration, Custody and Related Services
  • Reference: ten-2324-001
  • Num offers: 6
  • Value: £50,000,000 [share]
  • Awarded to group of suppliers.
2 Northern Trust Global Investments (London)
  • Provision of Fund Administration, Custody and Related Services
  • Reference: ten-2324-001
  • Num offers: 6
  • Value: £50,000,000 [share]
  • Awarded to group of suppliers.

Renewal Options

The contract has the option for the provision of related services including: Additional services that may be included throughout the term of the contract include: - FX Overlay - Public and private market investments - Data management

Award Criteria

PRICE _

CPV Codes

  • 66523100 - Pension fund administration services
  • 66162000 - Custody services

Indicators

  • Options are available.
  • Award on basis of price.

Other Information

The published contract value is an estimate based on Nest’s forecasted AUM for the initial 10-year period. The contract allows for additional services to be procured during the term as well as contract extension for a further 5 years. Any modifications to the contract will be published in further notices throughout the term of the contract.

Reference

Domains