Award

Transition Manager JPM-FBI

STAFFORDSHIRE COUNTY COUNCIL

This public procurement record has 1 release in its history.

Award

25 Sep 2023 at 06:41

Award Notice
Summary of the contracting process

The Staffordshire County Council has awarded a contract for Transition Manager JPM-FBI services, valued at £86,190, to Macquarie Capital (Europe) Limited. The contract period is from 1st August 2023 to 31st October 2023. The procurement process involved the divestment from J.P. Morgan and investment into the LGPS Central FBI fund, with the goal of reducing costs and optimizing asset allocation for the Staffordshire Pension Fund based in the West Midlands, United Kingdom.

This tender for Transition Manager services presents an opportunity for financial investment firms or asset management companies looking to engage in pension investment services. The contracting authority, Staffordshire County Council, has identified a need to transition assets 'in-specie' and reallocate investments, creating an opportunity for businesses with expertise in factor-based investment equities. The procurement method used was 'Other - Exception against internal procurement regulations', indicating a specialized approach tailored to the unique requirements of the contracting authority.

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Notice Information

Notice Title

Transition Manager JPM-FBI

Notice Description

Transition manager, who will manage the divestment from J.P. Morgan and investment into the LGPS Central FBI fund. The transition manager will reduce costs by transitioning assets 'in-specie' where possible and position the assets into the desired portfolio for the new investment. Staffordshire Pension Fund invests in a variety of listed equity assets. At the Pensions Panel on 6 June 2023, Members approved an increase in the Fund's allocation to Factor-Based Investment (FBI) equities from 5.0% to 8.8% of the Fund. As part of this approval, an allocation of 4.4% (cPS295m) of the Fund was awarded to a new investment, the LGPS Central All World Equity Climate Multi Factor Fund. The assets to fund this investment were approved to be taken from an existing manager, J.P. Morgan, who currently manage over 10% of Fund assets.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-0ab40b26-c807-4381-8493-9057ec4c3c56
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/9ab6c0f2-1c9f-46c6-8d6d-aa8c846a0eac
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Other - Exception against internal procurement regulations
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66131100 - Pension investment services

Notice Value(s)

Tender Value
£86,190 Under £100K
Lots Value
Not specified
Awards Value
£86,190 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
25 Sep 20232 years ago
Submission Deadline
19 Jul 2023Expired
Future Notice Date
Not specified
Award Date
18 Jul 20232 years ago
Contract Period
31 Jul 2023 - 31 Oct 2023 1-6 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
STAFFORDSHIRE COUNTY COUNCIL
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
STAFFORD
Postcode
ST16 2DH
Post Town
Stoke-on-Trent
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG2 Shropshire and Staffordshire
Small Region (ITL 3)
TLG24 Staffordshire CC
Delivery Location
TLG West Midlands (England)
Local Authority
Stafford
Electoral Ward
Forebridge
Westminster Constituency
Stafford

Supplier Information

Number of Suppliers
1
Supplier Name

MACQUARIE CAPITAL (EUROPE

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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