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Multi Provider Framework Agreement for the Provision of Stewardship Services Primarily in Support of the Local Government Pension Scheme (LGPS)

Norfolk County Council

This public procurement record has 4 releases in its history.

Award

19 Apr 2022 at 09:48

Award Notice
Tender

16 Dec 2021 at 13:10

Tender Notice
TenderUpdate

14 Jul 2021 at 09:12

Tender Notice
Planning

29 Jun 2021 at 11:25

Planning Notice
Summary of the contracting process

The buying organisation, Norfolk County Council, is leading a procurement process titled "Multi Provider Framework Agreement for the Provision of Stewardship Services Primarily in Support of the Local Government Pension Scheme." This procurement falls under the services category within the pension services industry, classified under the CPV code 66520000. The procurement process is in the award update stage, with the most recent data available from June 2026. The services to be provided cover the UK region, and the entire contract period spans 1440 days. The procurement follows an open procedure under the legal framework of CELEX 32014L0024. Key participants in the tender include established entities such as Aon Solutions UK Ltd, Minerva Analytics Ltd, and PricewaterhouseCoopers LLP amongst others.

This tender represents a substantial opportunity for businesses specialising in pension fund management and advisory services to enhance their market presence and growth. Organisations with capabilities in global voting coverage, engagement services across portfolios, and the provision of stewardship-related compliance support may find substantial potential here. Small to medium-sized enterprises (SMEs) as well as large corporations, especially those with experience in the public sector pension framework, will be well-suited to participate. Additionally, it is an opportunity for firms to align with multiple pension funds, including those administered by various councils, thereby extending their influence and client base in the UK market. The framework provides not only immediate business prospects but also potential for continued relations through its duration.

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Notice Information

Notice Title

Multi Provider Framework Agreement for the Provision of Stewardship Services Primarily in Support of the Local Government Pension Scheme (LGPS)

Notice Description

Norfolk County Council (as Administering Authority for Norfolk Pension Fund), on its own behalf and on behalf of City of Bradford Metropolitan District Council (as Administering Authority of the West Yorkshire Pension Fund), East Sussex County Council (as Administering Authority of East Sussex Pension Fund), South Yorkshire Pensions Authority, Tameside Metropolitan Borough Council (as Administering Authority of the Greater Manchester Pension Fund), Wirral Council (as Administering Authority of the Merseyside Pension Fund), West Sussex County Council (as Administering Authority of West Sussex Pension Fund) and Wolverhampton City Council (as Administering Authority of the West Midlands Pension Fund) have let a multi-provider framework agreement for the provision of Stewardship Advisory Services primarily in support of the Local Government Pension Scheme (LGPS).

Lot Information

Voting Services

Voting services including but not limited to: Coverage and Policy * Ability to provide global voting coverage * Formalisation of a voting policy informed by client beliefs leading to an agreed voting template. Assisting in the formulation of agreed voting templates in line with client requirements * Providing support on voting and voting related engagement issues * Benchmarking fund manager voting intentions relative to the client's voting policy * Supporting clients with stewardship-related compliance e.g. UNPRI, UK Stewardship Code etc. Execution * Delivery of voting execution and voting related engagement in line with client policies * Advising on best practice in voting policy and execution * Ability to align voting with engagement activities * Ability to allow individual funds to vote differently to Pool Reporting * Identifying evolving voting themes which may impact upon client policies and reputation * Key analysis and reporting of trends in voting behaviour and activity and post-vote reporting * Supporting clients with internal and external communication with regards to stewardship policies * Ability to meet bespoke reporting requirements

Engagement Services

Engagement Services including but not limited to: Coverage and Policy * Assisting the client to engage with investee entities across the portfolio as defined by the client * Identifying and prioritising fund engagement activities by issue and company * Identifying key engagement risks within client portfolios * Identifying the optimal engagement strategy in line with the client's investment portfolio * Identifying opportunities for clients to collaborate to secure more cost-efficient and effective engagement outcomes * Analysing the effectiveness of active ownership policies * Ability to provide a service tailored to different geographies and the ability to engage with companies worldwide decided on by ESG criteria * Identifying industry developments which may impact upon client policies and reputation Execution * Undertaking engagement activity on behalf of clients * Supporting the integration of engagement best practice into investment processes and decision-making * Supporting the client in their engagement with policymakers and regulators with regard to active ownership * Co-ordination of Collaborative initiative and Shareholder resolutions * Ability to align engagement activities with voting * Supporting the Scheme with defining objectives of engagements at manager or issuer level, and what plans there are for escalation should these fail Reporting * Provision of regular monitoring reports and analysis of engagement activities undertaken * Analysing the effectiveness of engagement activity * Supporting clients with stewardship-related compliance e.g. UNPRI, UK Stewardship Code etc. * Supporting clients with internal and external communication with regards to engagement policies * Ability to meet bespoke reporting requirements Training * Provision of ongoing training for clients in relation to engagement

Voting and Engagement Services

Voting and Engagement services including, but not limited to: * Ability to provide full global voting coverage * Formalisation of a voting policy informed by client beliefs leading to an agreed voting template. Assisting in the formulation of agreed voting templates in line with client requirements * Delivery of voting execution and voting related engagement in line with client policies * Providing support on voting and voting related engagement issues * Identifying evolving voting themes which may impact upon client policies and reputation * Advising on best practice in voting policy and execution * Key analysis and reporting of trends in voting behaviour and activity and post-vote reporting * Benchmarking fund manager voting intentions relative to the client's voting policy * Supporting clients with stewardship-related compliance e.g. UNPRI, UK Stewardship Code etc. * Supporting clients with internal and external communication with regards to stewardship policies * Ability to meet bespoke reporting requirements * Ability to align voting and engagement activities * Ability to allow individual funds to vote differently to Pool * Assisting the client to engage with investee entities across the portfolio as defined by the client * Identifying and prioritising fund engagement activities by issue and company * Identifying key engagement risks within client portfolios * Identifying the optimal engagement strategy in line with the client's investment portfolio * Identifying opportunities for clients to collaborate to secure more cost-efficient and effective engagement outcomes * Undertaking engagement activity on behalf of clients. * Supporting the integration of engagement best practice into investment processes and decision-making * Supporting the client in their engagement with policymakers and regulators with regard to active ownership * Provision of ongoing training for clients in relation to engagement * Provision of regular monitoring reports and analysis of engagement activities undertaken * Analysing the effectiveness of engagement activity * Identifying key stewardship risks within client portfolios * Analysing the effectiveness of active ownership policies * Co-ordination of Collaborative initiative and Shareholder resolutions * Ability to provide a service tailored to different geographies and the ability to engage with companies worldwide decided on by ESG criteria * Identifying industry developments which may impact upon client policies and reputation * Supporting the Scheme with defining objectives of engagements at manager or at issuer level, and what plans there are for escalation should these fail.

Stewardship Reporting and Projects

Discrete pieces of specialist, stewardship-related project work including, but not limited to: * Advice on preparing stewardship due diligence tools for specific asset classes e.g. real estate, forestry etc. * Advice on contentious issues related to Responsible Investment * Reviewing and helping develop stewardship policies and partnerships * Integrating responsible investment policies into investment decision-making * Supporting clients in their stewardship-related interactions with stakeholders * Supporting the analysis and reporting of stewardship-related data * Provision of research at sectoral, regional, asset class and/or investment level of environmental, social, governance and other stewardship matters in relation to current or prospective client investments * Advice and reporting including gap-analysis in line with relevant regulatory standards and recognised external frameworks e.g. UNPRI, TCFD, UK Stewardship code, Paris Alignment, SDG alignment * Analysing the effectiveness of active ownership policies and engagement activity * Identifying industry developments which may impact upon client policies and reputation * Supporting the Scheme with defining engagement beliefs and priorities * Supporting the integration of stewardship best practice into investment processes and decision-making (in respect of both internal and external management)

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-02c146
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/010165-2022
Current Stage
Award
All Stages
Planning, Tender, Award

Procurement Classification

Notice Type
Planning Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large, SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66141000 - Pension fund management services

66520000 - Pension services

Notice Value(s)

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

Notice Dates

Publication Date
19 Apr 20224 years ago
Submission Deadline
31 Jan 2022Expired
Future Notice Date
11 Oct 2021Expired
Award Date
28 Mar 20224 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Norfolk County Council
Additional Buyers

City of Bradford Metropolitan District Council (as Administering Authority of the West Yorkshire Pension Fund)

East Sussex County Council (as Administering Authority of the East Sussex Pension Fund)

Norfolk County Council (As Administering Authority for Norfolk Pension Fund

Norfolk County Council (As Administering Authority of the Norfolk Pension Fund)

South Yorkshire Pension Authority

Tameside Metropolitan Borough Council (as Administering Authority of the Greater Manchester Pension Fund)

West Sussex County Council (as Administering Authority for the West Sussex Pension Fund)

West Sussex County Council(as Administering Authority for West Sussex Pension Fund)

Wirral Council (as Administering Authority of the Merseyside Pension Fund)

Wolverhampton City Council (as Administering Authority of the West Midlands Pension Fund)

Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
BARNSLEY
Postcode
NR1 2DH
Postcode Area
Norwich
Country
England
Major Region (ITL 1)
TLH East (England)
Basic Region (ITL 2)
TLH5 Norfolk
Small Region (ITL 3)
TLH51 Norwich and East Norfolk
Delivery Location
Not specified
Local Authority
Norwich
Electoral Ward
Lakenham
Westminster Constituency
Norwich South

Supplier Information

Number of Suppliers
13
Supplier Names

Aon Solutions UK Ltd

BMO Asset Management Ltd T/A BMO GAM (EMEA)

Glass Lewis T/A GL & M UK Ltd

Hermes Equity Ownership Service T/A EOS at Federated Hermes

Hermes Equity Ownership Services T/A EOS at Federated Hermes

MJ Hudson ESG & Sustainability T/A MJ Hudson IQ Ltd

Minerva Analytics Ltd

Pension & Investment Research Consultants Ltd (PIRC)

Pensions & Investment Research Consultants Ltd (PIRC)

PricewaterhouseCoopers LLP

Redington Ltd

Robeco Institutional Asset Management B.V

The Good Economy Partnership Ltd

Further Information

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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