London Borough of Bromley: Contract for Multi-Asset Income Manager

UK-Bromley: Pension investment services.
Section I: Contracting Authority
      I.1) Name and addresses
             London Borough of Bromley
             Civic Centre, Stockwell Close, Bromley, BR1 3UH, United Kingdom
             Email: james.mullender@bromley.gov.uk
             Contact: James Mullender
             Main Address: http://www.bromley.gov.uk
             NUTS Code: UKJ4
      I.2) Joint procurement
      The contract involves joint procurement: No.
      In the case of joint procurement involving different countries, state applicable national procurement law: Not provided       
      The contract is awarded by a central purchasing body: No.
      I.3) Communication
      The procurement documents are available for unrestricted and full direct access, free of charge, at: https://www.londontenders.org
      Additional information can be obtained from: the abovementioned address
      Tenders or requests to participate must be sent electronically via https://www.londontenders.org to the abovementioned address       
      Electronic communication requires the use of tools and devices that are not generally available. Unrestricted and full direct access to these tools and devices is possible, free of charge, at: Not provided
      I.4) Type of the contracting authority
            Regional or local authority
      I.5) Main activity
            General public services

Section II: Object
II.1) Scope of the procurement
      II.1.1) Title: Contract for Multi-Asset Income Manager       
      Reference Number: DN282945
      II.1.2) Main CPV Code:
      66131100 - Pension investment services.

      II.1.3) Type of contract: SERVICES
      II.1.4) Short description: The London Borough of Bromley (“the Authority”) in its capacity as Administrating Authority for the London Borough of Bromley Pension Fund (“the Fund”) is seeking to appoint 1 or more Pension Fund Multi-Asset Income (“MAI”) managers as detailed in the Tender Documents.

The tender opportunity will be run electronically through the London Tenders Portal and suppliers will need to register their company with the portal as soon as possible (if they have not already done so) at www.londontenders.org to ensure they are able to access and submit the relevant documents online.

All applications MUST be made through the London Tenders Portal ONLY and NOT to the Contact Details contained within this notice.       
      II.1.5) Estimated total value:
      Value excluding VAT: Not Provided       
      Currency: Not Provided
      II.1.6) Information about lots:
      This contract is divided into lots: No       
   
II.2) Description
      
      II.2.2) Additional CPV codes:
      Not Provided       
      II.2.3) Place of performance:
      UKJ4 Kent
      
      II.2.4) Description of procurement: The Council's Pension Fund is a defined benefit scheme operated under the provisions of the Local Government Pension Scheme (LGPS) Regulations, for the purpose of providing pension benefits for its employees. The investment regulations (The LGPS (Management and Investment of Funds) Regulations 2016) allow local authorities to use all the established categories of investments, e.g. equities, bonds, property etc, and to appoint external investment managers who are required to use a wide variety of investments and to comply with certain specific limits.

It is proposed that two managers be appointed for MAI Funds, to increase diversification and to aid performance appraisal. The Council has appointed AllenbridgeEpic to manage the procurement of Fund Managers for the new mandates.
      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:
      Value excluding VAT: Not provided       
      Currency: Not provided       
      II.2.7) Duration of the contract, framework agreement or dynamic purchasing system:
      Start: 01/12/2017 / End: 30/11/2020       
      This contract is subject to renewal: Yes       
      Description of renewals: As required.
      II.2.9) Information about the limits on the number of candidates to be invited:
       Not provided
      Objective criteria for choosing the limited number of candidates: Not provided
      II.2.10) Information about variants:
      Variants will be accepted: No
      II.2.11) Information about options:
      Options:       Yes             
      Description of options: Contract may be extended for up to five further periods of 60 months (5 years) each.
      II.2.12) Information about electronic catalogues:
      Tenders must be presented in the form of electronic catalogues or include an electronic catalogue: No
      II.2.13) Information about European Union funds:
      The procurement is related to a project and/or programme financed by European Union funds: No       
      Identification of the project: Not provided             
      II.2.14) Additional information: Full tender documentation is accessible via the London Tenders Portal and Applicants should complete only the Stage 1 Selection Documents at this stage. The Invitation to Tender and supporting documents should only be completed once an Applicant has been invited to submit a tender following assessment of the Stage 1 responses.       


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
      List and brief description of conditions:          
      Not Provided       
      III.1.2) Economic and financial standing          
      Selection criteria as stated in the procurement documents       
      List and brief description of selection criteria:       
      Not Provided    
      Minimum level(s) of standards possibly required (if applicable) :       
      Not Provided    
      III.1.3) Technical and professional ability    
      Selection criteria as stated in the procurement documents
      List and brief description of selection criteria:       
      Not Provided      
      Minimum level(s) of standards possibly required (if applicable) :          
      Not Provided   
      III.1.5) Information about reserved contracts (if applicable)   
      The contract is reserved to sheltered workshops and economic operators aiming at the social and professional integration of disabled or disadvantaged persons: No       
      The execution of the contract is restricted to the framework of sheltered employment programmes: No    
      
   III.2) Conditions related to the contract
      III.2.1) Information about a particular profession    
      Reference to the relevant law, regulation or administrative provision:          
      Not Provided    
      III.2.2) Contract performance conditions          
      Not Provided          
      III.2.3) Information about staff responsible for the performance of the contract
      Obligation to indicate the names and professional qualifications of the staff assigned to performing the contract: Yes    

Section IV: Procedure
   IV.1) Description NEGOTIATED
      IV.1.1) Type of procedure:   
   
   IV.1.3) Information about a framework agreement or a dynamic purchasing system    
         The procurement involves the establishment of a framework agreement - NO    
         In the case of framework agreements justification for any duration exceeding 4 years: Not Provided    
   IV.1.4) Information about reduction of the number of solutions or tenders during negotiation or dialogue: No.
   IV.1.5) Information about negotiation: No.
   IV.1.6) Information about electronic auction:
      An electronic auction will be used: No
      Additional information about electronic auction: Not provided
   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:
         Notice number in the OJ S: Not provided       
      IV.2.2) Time limit for receipt of tenders or requests to participate
       Date: 22/08/2017 Time: 12:00
      IV.2.3) Estimated date of dispatch of invitations to tender or to participate to selected candidates: 04/09/2017       
      IV.2.4) Languages in which tenders or requests to participate may be submitted: English,       
      IV.2.6) Minimum time frame during which the tenderer must maintain the tender: Not Provided      
      

Section VI: Complementary Information
   VI.1) Information about recurrence
   This is a recurrent procurement: Yes    
   Estimated timing for further notices to be published: As required
   VI.2) Information about electronic workflows
   Electronic ordering will be used No       
   Electronic invoicing will be accepted Yes       
   Electronic payment will be used Yes       
   VI.3) Additional Information: Evaluation of the tender will be based on the CIPFA standing guide to the commissioning of local authority work and services tender evaluation model and in full compliance with EU Directives, the Council's Contract Procedure Rules and in accordance with the stated criteria. Tenderers should note that the evaluation of the above criteria for Quality issues etc. will also include the operation of minimum score thresholds. If the Tenderer's proposal receives a score below the required threshold then the bid may not be considered further. (The minimum acceptable score is a requirement to obtain at least half of the available points in any particular area).

An indicative use of this model can be downloaded from the Council’s website at http://www.bromley.gov.uk/info/200095/tenders_and_contracts/265/submitting_tenders

The Council works closely with a number of its surrounding local authorities on procurement activity and is a member of the South East London Procurement Group (comprising of the London Boroughs of Bromley, Bexley, Lewisham, Greenwich, Lambeth and Southwark). In addition to the partner organisation identified above, in appropriate circumstances and in compliance with any legal and regulatory requirement, the opportunity for services to be provided through this contract may also be offered to members of this organisation and who may have similar usage volumes.

The Council may make use of the contract for further negotiated arrangements to the extent permissible and in compliance with the relevant Procurement Regulations.

Prospective contractors are advised that the documents issued at this time in conjunction with the OJEU Tender Notice may be supplemented and/or amended as provided for in Regulation 53(6) of the Public Contracts Regulations 2015.
To view this notice, please click here:
https://www.delta-esourcing.com/delta/viewNotice.html?noticeId=262946754
   VI.4) Procedures for review
   VI.4.1) Review body:
             Royal Courts of Justice
       The Strand, London, WC2A 2LL, United Kingdom
       Tel. +44 2079476000
   VI.4.2) Body responsible for mediation procedures:
             Royal Courts of Justice
          The Strand, Holborn, London, WC2A 2LL, United Kingdom
   VI.4.3) Review procedure
   Precise information on deadline(s) for review procedures:    
    Complaints during the procurement process are conducted under the Official Journal for the European Union (OJEU) in line with the Public Contracts Regulations (2015). Our processes are conducted in a fair, open and transparent manner. We are committed to developing constructive relationships with suppliers and are keen to generate maximum competition in all of our procurements to deliver best value and sustainable cost savings for the taxpayer. The outcome of the evaluation process is totally dependent on the competitive strength of the individual bid submissions, regardless of the bidder's size or place on existing / previous arrangements. We are committed to treating all suppliers fairly and all feedback and complaints are given full and fair consideration. If at any stage we believe that a mistake has been made by us, please be assured that we will rectify it to the extent that we can legally do so. In order to complain you must first be registered on the eSourcing tool for the relevant procurement event. All complaints must be raised via the eSourcing tool messaging facility. If you are still unsatisfied at the outcome of a procurement competition and wish to challenge it, then you should issue legal proceedings under Part 3 chapter 6 (Applications to the Court) of the Public Contracts Regulations 2015 and serve them on the Government Legal Department in accordance with the Civil Procedure Rules Part 66 (Crown Proceedings) and its associated Practice Direction. Please note that service by email is subject to prior agreement with the Head of Litigation at the Government Legal Department Solicitor's Department and is not routinely given.    
   VI.4.4) Service from which information about the lodging of appeals may be obtained:
          Royal Courts of Justice
       The Strand, Holborn, London, WC2A 2LL, United Kingdom
       Tel. +44 2079476000
   VI.5) Date Of Dispatch Of This Notice: 21/07/2017

Annex A