Tender

Equity Overlay / Downside Risk Management

WIRRAL BOROUGH COUNCIL

This public procurement record has 1 release in its history.

Tender

19 Dec 2022 at 16:29

Tender Notice
Summary of the contracting process

The Wirral Borough Council has initiated a tender process for the procurement of Equity Overlay / Downside Risk Management services. The contracting process involves the renewal of an approved framework of equity overlay suppliers to offer overlay management services to manage equity risk on a medium-term and longer-term basis. The estimated contract value is up to £8,640,000, and the tender deadline is on 20th January 2023. The procurement method is a Competitive Procedure with Negotiation.

This tender by Wirral Borough Council provides opportunities for asset managers to offer equity overlay solutions. The council aims to deploy mandates ranging from GBP 100m to GBP 2bn initially, with potential growth over time through the incorporation of other asset classes. Business ventures in financial and insurance services, particularly those offering equity risk management solutions, are well-suited to compete in this procurement process.

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Notice Information

Notice Title

Equity Overlay / Downside Risk Management

Notice Description

Northern LGPS is seeking to control equity risk on a medium-term basis and possibly on a longer-term strategic basis through the use of an equity overlay solution(s). Northern LGPS is looking to renew its framework of approved equity overlay suppliers to offer overlay management services as required during the framework duration. It is anticipated that mandates will be awarded on an individual basis to suppliers within this framework as required by the underlying plans. Suppliers must be able to offer equity risk / drawdown control through a broad range of overlay solutions ranging from basic put / put-spread protection through to more complex strategies (as required by individual awards within the framework), and may also be required to offer mechanisms for funding (e.g. synthetic equity replication or other funding routes). The approved supplier framework will target a minimum of 3 manager appointments. Northern LGPS are seeking proposals from asset managers. Bank or other non-fiduciary solutions will be excluded. Suppliers must be able to implement solutions using their own trading relationships. Proposals requiring use of client ISDAs will be excluded. Suppliers must be regulated to offer services to UK institutional investors. It is estimated that the Northern LGPS will seek to deploy Equity Risk Overlay mandates on up to GBP 3bn initially. This figure represents the client's total equity exposure that might be referenced by overlay proposals. Individual mandates within the framework are expected to vary in sizes ranging from GBP 100m to GBP 2bn, with the framework expected to deploy multiple overlay solutions over time. There is also the potential for aggregate mandate size to grow through the incorporation of other asset classes over time. Estimated contract value is PS7,236,000 (exc VAT) and PS8,640,000 (including VAT) Procedure Type is Competitive Procedure with Negotiation Additional information: The procedure for this tender will be based on a Competitive Process with Negotiation (CPN) process. bfinance, an independent investment consultant specialising in investment manager search and selection, has been appointed by the Northern LGPS to assist in the tendering process and will assist Northern LGPS in the evaluation of submissions. Please contact bfinance for any queries regarding the mandate requirements or process issues. Where relevant, answers to individual questions will be anonymised and communicated to all applicants. No canvassing or other contact should be made directly to Northern LGPS or any of its officers or members regarding this tender process. Subject to there being a sufficient number of responses meeting the selection criteria, Northern LGPS will select the 10 top scored qualified applicants to be invited to tender. FOR ALL QUERIES, ACCESS TO DOCUMENTATION, EXPRESSIONS OF INTEREST, SUBMISSIONS PLEASE ACCESS VIA THE OPPORTUNITY ON THE CHEST PORTAL VIA http://www.the-chest.org.uk Please note due to Christmas Shut down between 5pm Friday 23rd December 2022 and 9am Tuesday 4th January 2023 no questions will be answered during this period.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-3dfc591e-27ba-4ec2-ad5b-74db8e577fc7
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/ad031cba-f6ab-434c-8b1a-f2b5e3c148db
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Other -
Tender Suitability
SME, VCSE
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

Notice Value(s)

Tender Value
£7,236,000 £1M-£10M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
19 Dec 20223 years ago
Submission Deadline
20 Jan 2023Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
30 Jul 2023 - 30 Apr 2027 3-4 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
WIRRAL BOROUGH COUNCIL
Contact Name
Not specified
Contact Email
tenders@wirral.gov.uk
Contact Phone
+441516062002

Buyer Location

Locality
WALLASEY
Postcode
CH44 8ED
Post Town
Chester
Country
England
Major Region (ITL 1)
TLD North West (England)
Basic Region (ITL 2)
TLD7 Merseyside
Small Region (ITL 3)
TLD74 Wirral
Delivery Location
TLC North East (England), TLD North West (England), TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLJ South East (England), TLK South West (England)
Local Authority
Wirral
Electoral Ward
Seacombe
Westminster Constituency
Wallasey

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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