Award

Provision of Fiduciary Management services to Aberystwyth University Pension Scheme

ABERYSTWYTH UNIVERSITY

This public procurement record has 2 releases in its history.

Award

24 Oct 2024 at 13:46

Tender

13 Dec 2023 at 12:02

Summary of the contracting process

Aberystwyth University has awarded a contract for the provision of fiduciary management services to its Pension Scheme. This procurement process falls under the category of pension investment services and aims to provide fiduciary management alongside necessary investment consultancy advice for the Defined Benefit section of the Plan. The contract, valued at £1.5 million, is awarded to SCHRODERS PLC and involves the completion date of 11th April 2024. The procurement method used was an open procedure, ensuring a transparent and competitive tender process. This contract primarily addresses the needs within the services sector, specifically in the region of Aberystwyth, UK.

This tender presents significant opportunities for businesses within the financial services industry, particularly those specialising in pension fund management, consultancies, and fiduciary services. Institutions that have expertise in managing pension investments and providing strategic consultancy can significantly benefit by engaging in similar procurement opportunities. This contract exemplifies the value of securing large-scale projects in the higher education sector, potentially paving the way for additional contracts and fostering long-term business growth through reputable collaborations. Firms able to meet the rigorous technical and cost criteria stand to benefit immensely from the visibility and the financial remuneration associated with such high-value tenders.

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Notice Title

Provision of Fiduciary Management services to Aberystwyth University Pension Scheme

Notice Description

To provide a FM service to Aberystwyth University Pension Scheme ("the Scheme") together with the necessary investment consultancy advice for the Defined Benefit section of the Plan only to allow the Trustee to set the strategic investment objectives for the Fund and help consideration of the development of a de-risking plan.

Lot Information

Lot 1

Fulfilling these roles will involve the appointed FM taking instructions from the Trustee Board as well as other persons notified to the FM from time to time. Whilst this is proceeding through the University's procurement process the appointment will be a decision for trustees and all obligations and duties of the FM manager are owed to the trustees. The trustees shall have to satisfy themselves that their legal obligations as trustees in relation to investment advice and management are being fulfilled. It shall be the Pension Scheme and not the University that is entering into the contractual obligations.

Renewal: 2 years + 2 years + 1 year subject to satisfactory performance

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-042534
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/034501-2024
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66131100 - Pension investment services

66141000 - Pension fund management services

66520000 - Pension services

66523000 - Pension fund consultancy services

Notice Value(s)

Tender Value
£1,500,000 £1M-£10M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£1,500,000 £1M-£10M

Notice Dates

Publication Date
24 Oct 20241 years ago
Submission Deadline
31 Jan 2024Expired
Future Notice Date
Not specified
Award Date
10 Apr 20241 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
ABERYSTWYTH UNIVERSITY
Contact Name
Patrick Daniel
Contact Email
pad47@aber.ac.uk
Contact Phone
Not specified

Buyer Location

Locality
ABERYSTWYTH, CEREDIGION
Postcode
SY23 3AH
Post Town
Shrewsbury
Country
Wales

Major Region (ITL 1)
TLL Wales
Basic Region (ITL 2)
TLL4 Mid and South West Wales
Small Region (ITL 3)
TLL41 Mid Wales
Delivery Location
TLL1 West Wales and The Valleys

Local Authority
Ceredigion
Electoral Ward
Llanbadarn Fawr
Westminster Constituency
Ceredigion Preseli

Supplier Information

Number of Suppliers
1
Supplier Name

SCHRODERS

Open Contracting Data Standard (OCDS)

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