Award

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 08:48

Tender

16 Dec 2021 at 13:10

TenderUpdate

14 Jul 2021 at 08:12

Planning

29 Jun 2021 at 10:25

Summary of the contracting process

The Norfolk County Council, acting as the Administering Authority for the Norfolk Pension Fund, has established a multi-provider framework agreement for the provision of Stewardship Advisory Services, primarily supporting the Local Government Pension Scheme (LGPS). This procurement process, classified under the CPV code for pension services (66520000), is currently in the 'Award' stage, with key contracts already signed on 28 March 2022. Interested parties should note that this agreement allows the provision of services to multiple councils across the UK, enhancing its reach and potential impact within the local government sector.

This tender presents significant opportunities for companies specialising in pension fund management, stewardship advisory services, and investment engagement. Businesses that can offer expertise in global voting coverage, client-specific voting policies, engagement strategies, and compliance with stewardship codes will find themselves well-positioned to compete. Given the long duration of this framework agreement, successful bidders may see ongoing work, expanding their presence in a crucial segment of public procurement that supports sustainable investment practices.

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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)

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 20223 years ago
Submission Deadline
31 Jan 2022Expired
Future Notice Date
10 Oct 2021Expired
Award Date
27 Mar 20223 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

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
Julie Ward
Contact Email
customerservices@sypa.org.uk, investments@westsussex.gov.uk, mail@gmpf.org.uk, mpfadmin@wirral.gov.uk, pensionfundenquiries@wolverhampton.gov.uk, pensions@eastsussex.gov.uk, pensions@hants.gov.uk, pensions@wypf.org.uk, sourcingteam@norfolk.gov.uk
Contact Phone
+44 1603224320

Buyer Location

Locality
NORWICH
Postcode
NR1 2DH
Post Town
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

BMO ASSET MANAGEMENT LTD T/A BMO GAM (EMEA

GLASS LEWIS T/A GL & M

HERMES EQUITY OWNERSHIP SERVICE T/A EOS AT FEDERATED HERMES

HERMES EQUITY OWNERSHIP SERVICES T/A EOS AT FEDERATED HERMES

MINERVA ANALYTICS

MJ HUDSON ESG & SUSTAINABILITY T/A MJ HUDSON IQ

PENSION & INVESTMENT RESEARCH CONSULTANTS LTD (PIRC

PENSIONS & INVESTMENT RESEARCH CONSULTANTS LTD (PIRC

PRICEWATERHOUSECOOPERS

REDINGTON

ROBECO INSTITUTIONAL ASSET MANAGEMENT

THE GOOD ECONOMY PARTNERSHIP

Open Contracting Data Standard (OCDS)

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