Fiduciary Management Services for Pension & Assurance Scheme

Concepts

• pension investment
• bristol
• pension fund management
• insurance and pensions
• pension services
• managing scheme liquidity
• bristol pension and assurance scheme
• manager selection
• fiduciary management services
• pension & assurance scheme

Location

Bristol

Description

The Trustee of the University of Bristol Pension and Assurance Scheme has decided to review the provider who manages the assets of the Scheme on a fiduciary basis. The scheme has assets of approximately 240 000 000 GBP. The appointed organisation will provide a full fiduciary management service to the Trustee of the University of Bristol Pension and Assurance Scheme (UBPAS), together with the necessary support in respect of the delivery of the investments, and operational aspects of investments, of the scheme. The appointed organisation will decide on, oversee, execute or advise on the some or all of the following: • Strategic Asset Allocation, • Tactical Asset Allocation, • Hedging Strategy Implementation, • Manager selection, • Asset class selection, • Portfolio Construction, • Managing scheme liquidity, • Fund reporting, • Trustee Education, • Portfolio Implementation, • Strategic Objectives, • Risk Budget, • Constraints, • Hedging Strategy Design.

Total Quantity or Scope

The objective of this Procurement is for the University of Bristol Pension and Assurance Scheme ("the Pension Scheme") to contract with a Fiduciary Management provider ("FM Provider) for fiduciary management services which will include provision of the necessary investment consultancy advice to allow the Trustees to set the strategic investment objectives for the Pension Scheme. The FM Provider will be responsible for reviewing and refining the de-risking plan in full discussion with the Trustee and the Pension Scheme's actuary, and University, as well as investing the assets. The appointed FM Provider will be required to take instructions from the Trustee as well as other persons notified to the FM Provider by the Trustee from time to time.

Renewal Options

Initial contract is 5 years with option to extend for a further 4 years in 2 year increments (5+2+2). 108 months if full term. Contract will be retendered prior to expiry date as service will continue to be required.

CPV Codes

• 66131100 - Pension investment services
• 66141000 - Pension fund management services
• 66500000 - Insurance and pension services
• 66520000 - Pension services

Indicators

• Bids should cover the whole contract.
• This is a recurring contract.
• Renewals are available.
• Performance considerations apply.
• Professional qualifications are sought.
• Award on basis of price and quality.

Other Information

Initial contract is 5 years with option to extend for a further 4 years in 2 year increments (5+2+2). 108 months if full term. Shortlisted Suppliers who proceed through the Procurement will be invited to submit Initial Tenders. This will comprise two parts: the Initial Tender written response, and an Interview. The Interview will be attended by UoB and UBPAS evaluators and will be assessed independently from the Written response. The two elements will be assessed independently and the scores from each element added together to result in an overall score for the Initial Tender stage. More information about the Initial Tender stage will be published via the eTendering portal once that stage is reached. The Initial Tender will be a separate area on the portal to the SQ stage. Please note that UBPAS reserves the right to award the Contract after Initial Tenders and not proceed with negotiation.