Planning

CTI Collation and Benchmarking

BRUNEL PENSION PARTNERSHIP LIMITED

This public procurement record has 1 release in its history.

Planning

17 May 2024 at 15:03

Market Engagement Notice
Summary of the contracting process

The buying organisation, Brunel Pension Partnership Limited, is seeking a vendor for the CTI Collation and Benchmarking tender in the financial information systems industry category. This planning-stage tender involves tasks such as collating costs from investment managers, producing CTI templates, and providing benchmarking reports. The engagement end date for this opportunity is set for 14th June 2024 in the South West region of the United Kingdom.

This tender presents an opportunity for businesses with expertise in financial data analysis, investment knowledge, and benchmarking services to engage with Brunel, a key player in the UK pension fund industry. Small and medium-sized enterprises (SMEs) with knowledge of the Cost Transparency Initiative (CTI) and experience in delivering accurate and detailed financial reports are well-suited to compete for this lucrative contract. Interested parties are encouraged to respond by the specified deadline to showcase their capabilities for the services required.

How relevant is this notice?

Notice Information

Notice Title

CTI Collation and Benchmarking

Notice Description

Brunel are seeking a single vendor to provide a discretionary service of collating, processing, reporting and benchmarking on costs incurred by clients invested in Brunel's multi-manager investment funds. The vendor must be able to provide the services below: 1) Cost Transparency Initiative (CTI) template collation, production & processing. We require a provider to provide the following on an annual basis: * Collate the costs & charges from the underlying investment managers within our Listed & Private Market multi-manager funds * Produce both the fund & client-level versions of the CTI templates to a specified timeline at a March financial year end * Create the Byhiras templates at both client & investment-level and upload onto the AB Cost Transparency, Compliance & Validation System. Data is to be collected by means of templates created by the Pensions & Lifetime Savings Association (PLSA) as updated from time to time, and through other supporting documents produced by the underlying fund managers for the mandate(s) they hold for Brunel. The CTI was set up to support consistent and standardised disclosure of costs & charges to institutional investors however, as it may not be relevant for all breakdowns of costs & charges to all asset classes we are looking for a provider who: * Has the necessary investment knowledge & experience to analyse the data given within a controlled environment * Is able to follow up with investment managers for further information if not sufficient, to ensure accurate reporting and quality assurance across all asset classes. As the data being collated from the investment managers is complex in nature and there is a desire internally to analyse the information separately from the CTI output, it is expected that the provider has an automated and efficient way of capturing the underlying costs & charges in a centralised portal or database, to which Brunel will have access. 2) Benchmarking and/or provision of value for money scoring * By using the collated CTI templates, the service will deliver objective, actionable benchmarking reporting on the value for money Brunel's investment funds provide at the following levels: * Fund * Client * Pool * The analysis should be broader than just a comparison of ongoing charges for underlying investment managers and should highlight areas for improvement, where applicable. * Benchmarking will also be required at a total asset class level: Passives, Private & Listed Markets. * Depth & breadth of the benchmarking universe needs to be sufficiently rich to draw conclusive analysis on value for money for Brunel's clients and should be directly comparable to Brunel's investments where possible. * Reporting should include trending analysis & expectations on the impact on costs and performance as the pool grows and should reflect the service provider's deep understanding of asset class cost dynamics. * Access to the data to conduct internal analysis is also a requirement. Additional information: Brunel Pension Partnership (Brunel) is one of eight UK Local Government Pension Scheme pools, bringing together ~PS35 billion of investments of ten like-minded funds (our clients). At this stage this opportunity is soft market test only and not a call for competition. The Contracting Authority may or may not subsequently publish a formal contract opportunity notice in the future. Interested parties are requested to indicate their capabilities for both services requested, including size of peer groups for benchmarking purposes and return via email to procurementqueries.brunel@brunelpp.org by 12pm on the Return Date (14 June 2024). Queries should be submitted to procurementqueries.brunel@brunelpp.org before 31 May 2024. (sample CTI templates are attached)

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-931b296e-dc1d-4bd1-9ae5-53182923c38f
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/009c8a3f-1cef-4ea5-b01a-65eda1459922
Current Stage
Planning
All Stages
Planning

Procurement Classification

Notice Type
Market Engagement Notice
Procurement Type
Standard
Procurement Category
Not specified
Procurement Method
Not Specified
Procurement Method Details
Not specified
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

48 - Software package and information systems

72 - IT services: consulting, software development, Internet and support

CPV Codes

48812000 - Financial information systems

72314000 - Data collection and collation services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
17 May 20241 years ago
Submission Deadline
Not specified
Future Notice Date
14 Jun 2024Expired
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Planning
Lots Status
Not Specified
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
BRUNEL PENSION PARTNERSHIP LIMITED
Contact Name
Melissa Freudenstein
Contact Email
procurementqueries.brunel@brunelpp.org
Contact Phone
Not specified

Buyer Location

Locality
BRISTOL
Postcode
BS1 6PU
Post Town
Bristol
Country
England
Major Region (ITL 1)
TLK South West (England)
Basic Region (ITL 2)
TLK5 West of England
Small Region (ITL 3)
TLK51 Bristol, City of
Delivery Location
TLK South West (England)
Local Authority
Bristol, City of
Electoral Ward
Central
Westminster Constituency
Bristol Central

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

Download

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. 

{
    "tag": [
        "compiled"
    ],
    "id": "ocds-b5fd17-931b296e-dc1d-4bd1-9ae5-53182923c38f-2024-05-17T16:03:02+01:00",
    "date": "2024-05-17T16:03:02+01:00",
    "ocid": "ocds-b5fd17-931b296e-dc1d-4bd1-9ae5-53182923c38f",
    "language": "en",
    "initiationType": "tender",
    "title": "CTI Collation and Benchmarking",
    "planning": {
        "milestones": [
            {
                "id": "1",
                "title": "Engagement end date",
                "type": "engagement",
                "dueDate": "2024-06-14T23:59:59+01:00"
            }
        ],
        "documents": [
            {
                "id": "1",
                "documentType": "marketEngagementNotice",
                "description": "Early engagement notice on Contracts Finder",
                "url": "https://www.contractsfinder.service.gov.uk/Notice/009c8a3f-1cef-4ea5-b01a-65eda1459922",
                "datePublished": "2024-05-17T16:03:02+01:00",
                "format": "text/html",
                "language": "en"
            },
            {
                "id": "2",
                "documentType": "technicalSpecifications",
                "description": "Sample PLSA CTI templates for Listed and Private Markets.",
                "url": "https://www.contractsfinder.service.gov.uk/Notice/Attachment/b5e6cf50-3e5a-4833-b6e9-6342801effca",
                "format": "application/vnd.openxmlformats-officedocument.spreadsheetml.sheet"
            },
            {
                "id": "3",
                "documentType": "technicalSpecifications",
                "description": "Sample PLSA CTI templates for Listed and Private Markets.",
                "url": "https://www.contractsfinder.service.gov.uk/Notice/Attachment/2329ff83-2d2c-411d-bbd9-7edb8483f28b",
                "format": "application/vnd.openxmlformats-officedocument.spreadsheetml.sheet"
            }
        ]
    },
    "tender": {
        "id": "CTI Collation and Benchmarking",
        "title": "CTI Collation and Benchmarking",
        "description": "Brunel are seeking a single vendor to provide a discretionary service of collating, processing, reporting and benchmarking on costs incurred by clients invested in Brunel's multi-manager investment funds. The vendor must be able to provide the services below: 1) Cost Transparency Initiative (CTI) template collation, production & processing. We require a provider to provide the following on an annual basis: * Collate the costs & charges from the underlying investment managers within our Listed & Private Market multi-manager funds * Produce both the fund & client-level versions of the CTI templates to a specified timeline at a March financial year end * Create the Byhiras templates at both client & investment-level and upload onto the AB Cost Transparency, Compliance & Validation System. Data is to be collected by means of templates created by the Pensions & Lifetime Savings Association (PLSA) as updated from time to time, and through other supporting documents produced by the underlying fund managers for the mandate(s) they hold for Brunel. The CTI was set up to support consistent and standardised disclosure of costs & charges to institutional investors however, as it may not be relevant for all breakdowns of costs & charges to all asset classes we are looking for a provider who: * Has the necessary investment knowledge & experience to analyse the data given within a controlled environment * Is able to follow up with investment managers for further information if not sufficient, to ensure accurate reporting and quality assurance across all asset classes. As the data being collated from the investment managers is complex in nature and there is a desire internally to analyse the information separately from the CTI output, it is expected that the provider has an automated and efficient way of capturing the underlying costs & charges in a centralised portal or database, to which Brunel will have access. 2) Benchmarking and/or provision of value for money scoring * By using the collated CTI templates, the service will deliver objective, actionable benchmarking reporting on the value for money Brunel's investment funds provide at the following levels: * Fund * Client * Pool * The analysis should be broader than just a comparison of ongoing charges for underlying investment managers and should highlight areas for improvement, where applicable. * Benchmarking will also be required at a total asset class level: Passives, Private & Listed Markets. * Depth & breadth of the benchmarking universe needs to be sufficiently rich to draw conclusive analysis on value for money for Brunel's clients and should be directly comparable to Brunel's investments where possible. * Reporting should include trending analysis & expectations on the impact on costs and performance as the pool grows and should reflect the service provider's deep understanding of asset class cost dynamics. * Access to the data to conduct internal analysis is also a requirement. Additional information: Brunel Pension Partnership (Brunel) is one of eight UK Local Government Pension Scheme pools, bringing together ~PS35 billion of investments of ten like-minded funds (our clients). At this stage this opportunity is soft market test only and not a call for competition. The Contracting Authority may or may not subsequently publish a formal contract opportunity notice in the future. Interested parties are requested to indicate their capabilities for both services requested, including size of peer groups for benchmarking purposes and return via email to procurementqueries.brunel@brunelpp.org by 12pm on the Return Date (14 June 2024). Queries should be submitted to procurementqueries.brunel@brunelpp.org before 31 May 2024. (sample CTI templates are attached)",
        "status": "planning",
        "classification": {
            "scheme": "CPV",
            "id": "48812000",
            "description": "Financial information systems"
        },
        "additionalClassifications": [
            {
                "scheme": "CPV",
                "id": "72314000",
                "description": "Data collection and collation services"
            }
        ],
        "items": [
            {
                "id": "1",
                "deliveryAddresses": [
                    {
                        "region": "South West",
                        "countryName": "United Kingdom"
                    }
                ]
            }
        ],
        "suitability": {
            "sme": true,
            "vcse": false
        }
    },
    "parties": [
        {
            "id": "GB-SRS-sid4gov.cabinetoffice.gov.uk/9Fz34EyD",
            "name": "BRUNEL PENSION PARTNERSHIP LIMITED",
            "identifier": {
                "legalName": "BRUNEL PENSION PARTNERSHIP LIMITED",
                "scheme": "GB-SRS",
                "id": "sid4gov.cabinetoffice.gov.uk/9Fz34EyD"
            },
            "address": {
                "streetAddress": "5th Floor,101 Victoria Street",
                "locality": "BRISTOL",
                "postalCode": "BS16PU",
                "countryName": "England"
            },
            "contactPoint": {
                "name": "Melissa Freudenstein",
                "email": "procurementqueries.brunel@brunelpp.org"
            },
            "details": {
                "url": "http://www.brunelpensionpartnership.org"
            },
            "roles": [
                "buyer"
            ]
        }
    ],
    "buyer": {
        "id": "GB-SRS-sid4gov.cabinetoffice.gov.uk/9Fz34EyD",
        "name": "BRUNEL PENSION PARTNERSHIP LIMITED"
    }
}