Section one: Contracting authority
one.1) Name and addresses
University of Bristol
4th Floor, Augustine's Courtyard, Orchard Lane
Bristol
BS1 5DS
Telephone
+44 01179289000
Country
United Kingdom
Region code
UK - United Kingdom
Internet address(es)
Main address
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted electronically via
Tenders or requests to participate must be submitted to the above-mentioned address
one.4) Type of the contracting authority
Body governed by public law
one.5) Main activity
Education
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Fiduciary Management Services for Pension & Assurance Scheme
Reference number
Fin-2306-011-PC_2695
two.1.2) Main CPV code
- 66131100 - Pension investment services
two.1.3) Type of contract
Services
two.1.4) Short 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.
two.1.5) Estimated total value
Value excluding VAT: £13,500,000
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.2) Additional CPV code(s)
- 66141000 - Pension fund management services
- 66500000 - Insurance and pension services
- 66520000 - Pension services
two.2.3) Place of performance
NUTS codes
- UK - United Kingdom
two.2.4) Description of the procurement
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.
two.2.5) Award criteria
Price is not the only award criterion and all criteria are stated only in the procurement documents
two.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months
108
This contract is subject to renewal
Yes
Description of renewals
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.
two.2.10) Information about variants
Variants will be accepted: No
two.2.11) Information about options
Options: No
two.2.13) Information about European Union Funds
The procurement is related to a project and/or programme financed by European Union funds: No
two.2.14) Additional 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.
Section three. Legal, economic, financial and technical information
three.1) Conditions for participation
three.1.1) Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers
List and brief description of conditions
Refer to e-procurement portal: https://tenders.bris.ac.uk
three.1.2) Economic and financial standing
Selection criteria as stated in the procurement documents
three.1.3) Technical and professional ability
Selection criteria as stated in the procurement documents
three.2) Conditions related to the contract
three.2.2) Contract performance conditions
Refer to e-procurement portal: https://tenders.bris.ac.uk
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Competitive procedure with negotiation
four.1.5) Information about negotiation
The contracting authority reserves the right to award the contract on the basis of the initial tenders without conducting negotiations
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: Yes
four.2) Administrative information
four.2.2) Time limit for receipt of tenders or requests to participate
Date
27 August 2024
Local time
4:00pm
four.2.3) Estimated date of dispatch of invitations to tender or to participate to selected candidates
29 July 2024
four.2.4) Languages in which tenders or requests to participate may be submitted
English
four.2.6) Minimum time frame during which the tenderer must maintain the tender
Duration in months: 6 (from the date stated for receipt of tender)
Section six. Complementary information
six.1) Information about recurrence
This is a recurrent procurement: Yes
Estimated timing for further notices to be published: During the optional extension periods
six.3) Additional information
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.
six.4) Procedures for review
six.4.1) Review body
Royal Courts of Justice
London
Country
United Kingdom