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.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.1.6) Information about lots
This contract is divided into lots: No
two.1.7) Total value of the procurement (excluding VAT)
Value excluding VAT: £13,500,000
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
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
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Competitive procedure with negotiation
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.2.1) Previous publication concerning this procedure
Notice number: 2024/S 000-023614
Section five. Award of contract
Contract No
Fin-2306-011-PC_2695
Title
Fiduciary Management Services for Pension & Assurance Scheme
A contract/lot is awarded: Yes
five.2) Award of contract
five.2.1) Date of conclusion of the contract
27 August 2024
five.2.2) Information about tenders
Number of tenders received: 4
Number of tenders received by electronic means: 4
The contract has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor
VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT (UK) LTD
20 Gracechurch Street, London, United Kingdom, EC3V 0BG
London
Country
United Kingdom
NUTS code
- UK - United Kingdom
The contractor is an SME
No
five.2.4) Information on value of contract/lot (excluding VAT)
Total value of the contract/lot: £13,500,000
Section six. Complementary information
six.3) 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.
Contract will be retendered prior to expiry date as service will continue to be required.
six.4) Procedures for review
six.4.1) Review body
Royal Courts of Justice
London
Country
United Kingdom