Fiduciary Management Services for Pension & Assurance Scheme

{
    "tag": [
        "compiled"
    ],
    "id": "ocds-h6vhtk-04858a-2025-07-11T10:22:01+01:00",
    "date": "2025-07-11T10:22:01+01:00",
    "ocid": "ocds-h6vhtk-04858a",
    "description": "Initial contract is 5 years with option to extend for a further 4 years in 2 year increments (5+2+2). 108 months if full term. Contract will be retendered prior to expiry date as service will continue to be required.",
    "initiationType": "tender",
    "tender": {
        "id": "Fin-2306-011-PC_2695",
        "legalBasis": {
            "id": "32014L0024",
            "scheme": "CELEX"
        },
        "title": "Fiduciary Management Services for Pension & Assurance Scheme",
        "status": "complete",
        "classification": {
            "scheme": "CPV",
            "id": "66131100",
            "description": "Pension investment services"
        },
        "mainProcurementCategory": "services",
        "description": "The Trustee of the University of Bristol Pension and Assurance Scheme has decided to review the provider who manages the assets of the Scheme on a fiduciary basis. The scheme has assets of approximately 240 000 000 GBP. The appointed organisation will provide a full fiduciary management service to the Trustee of the University of Bristol Pension and Assurance Scheme (UBPAS), together with the necessary support in respect of the delivery of the investments, and operational aspects of investments, of the scheme. The appointed organisation will decide on, oversee, execute or advise on the some or all of the following: * Strategic Asset Allocation, * Tactical Asset Allocation, * Hedging Strategy Implementation, * Manager selection, * Asset class selection, * Portfolio Construction, * Managing scheme liquidity, * Fund reporting, * Trustee Education, * Portfolio Implementation, * Strategic Objectives, * Risk Budget, * Constraints, * Hedging Strategy Design.",
        "value": {
            "amount": 13500000,
            "currency": "GBP"
        },
        "lots": [
            {
                "id": "1",
                "description": "The objective of this Procurement is for the University of Bristol Pension and Assurance Scheme (\"the Pension Scheme\") to contract with a Fiduciary Management provider (\"FM Provider) for fiduciary management services which will include provision of the necessary investment consultancy advice to allow the Trustees to set the strategic investment objectives for the Pension Scheme. The FM Provider will be responsible for reviewing and refining the de-risking plan in full discussion with the Trustee and the Pension Scheme's actuary, and University, as well as investing the assets. The appointed FM Provider will be required to take instructions from the Trustee as well as other persons notified to the FM Provider by the Trustee from time to time.",
                "contractPeriod": {
                    "durationInDays": 3240
                },
                "hasRenewal": true,
                "renewal": {
                    "description": "Initial contract is 5 years with option to extend for a further 4 years in 2 year increments (5+2+2). 108 months if full term. Contract will be retendered prior to expiry date as service will continue to be required."
                },
                "submissionTerms": {
                    "variantPolicy": "notAllowed"
                },
                "hasOptions": false,
                "status": "cancelled",
                "awardCriteria": {
                    "criteria": [
                        {
                            "type": "price"
                        }
                    ]
                }
            }
        ],
        "items": [
            {
                "id": "1",
                "additionalClassifications": [
                    {
                        "scheme": "CPV",
                        "id": "66141000",
                        "description": "Pension fund management services"
                    },
                    {
                        "scheme": "CPV",
                        "id": "66500000",
                        "description": "Insurance and pension services"
                    },
                    {
                        "scheme": "CPV",
                        "id": "66520000",
                        "description": "Pension services"
                    }
                ],
                "deliveryAddresses": [
                    {
                        "region": "UK"
                    },
                    {
                        "region": "UK"
                    }
                ],
                "relatedLot": "1"
            }
        ],
        "submissionMethod": [
            "electronicSubmission",
            "written"
        ],
        "submissionMethodDetails": "https://tenders.bris.ac.uk/",
        "selectionCriteria": {
            "criteria": [
                {
                    "type": "suitability",
                    "description": "Refer to e-procurement portal: https://tenders.bris.ac.uk",
                    "appliesTo": [
                        "supplier"
                    ]
                }
            ]
        },
        "documents": [
            {
                "id": "economic",
                "documentType": "economicSelectionCriteria"
            },
            {
                "id": "technical",
                "documentType": "technicalSelectionCriteria"
            }
        ],
        "contractTerms": {
            "performanceTerms": "Refer to e-procurement portal: https://tenders.bris.ac.uk"
        },
        "procurementMethod": "selective",
        "procurementMethodDetails": "Competitive procedure with negotiation",
        "secondStage": {
            "noNegotiationNecessary": true,
            "invitationDate": "2024-07-29T00:00:00+01:00"
        },
        "coveredBy": [
            "GPA"
        ],
        "tenderPeriod": {
            "endDate": "2024-08-27T16:00:00+01:00"
        },
        "submissionTerms": {
            "languages": [
                "en"
            ],
            "bidValidityPeriod": {
                "durationInDays": 180
            }
        },
        "hasRecurrence": true,
        "recurrence": {
            "description": "During the optional extension periods"
        }
    },
    "parties": [
        {
            "id": "GB-FTS-1015",
            "name": "University of Bristol",
            "identifier": {
                "legalName": "University of Bristol"
            },
            "address": {
                "streetAddress": "4th Floor, Augustine's Courtyard, Orchard Lane",
                "locality": "Bristol",
                "region": "UK",
                "postalCode": "BS1 5DS",
                "countryName": "United Kingdom"
            },
            "contactPoint": {
                "telephone": "+44 01179289000",
                "email": "QQ23366@bristol.ac.uk",
                "url": "https://tenders.bris.ac.uk/"
            },
            "roles": [
                "buyer"
            ],
            "details": {
                "url": "http://www.bristol.ac.uk",
                "classifications": [
                    {
                        "scheme": "TED_CA_TYPE",
                        "id": "BODY_PUBLIC",
                        "description": "Body governed by public law"
                    },
                    {
                        "scheme": "COFOG",
                        "id": "09",
                        "description": "Education"
                    }
                ]
            }
        },
        {
            "id": "GB-FTS-92",
            "name": "Royal Courts of Justice",
            "identifier": {
                "legalName": "Royal Courts of Justice"
            },
            "address": {
                "locality": "London",
                "countryName": "United Kingdom"
            },
            "roles": [
                "reviewBody"
            ]
        },
        {
            "id": "GB-FTS-154074",
            "name": "VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT (UK) LTD",
            "identifier": {
                "legalName": "VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT (UK) LTD"
            },
            "address": {
                "streetAddress": "20 Gracechurch Street, London, United Kingdom, EC3V 0BG",
                "locality": "London",
                "region": "UK",
                "countryName": "United Kingdom"
            },
            "roles": [
                "supplier"
            ],
            "details": {
                "scale": "large"
            }
        }
    ],
    "buyer": {
        "id": "GB-FTS-1015",
        "name": "University of Bristol"
    },
    "language": "en",
    "awards": [
        {
            "id": "039155-2025-Fin-2306-011-PC_2695-1",
            "relatedLots": [
                "1"
            ],
            "title": "Fiduciary Management Services for Pension & Assurance Scheme",
            "status": "active",
            "suppliers": [
                {
                    "id": "GB-FTS-154074",
                    "name": "VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT (UK) LTD"
                }
            ]
        }
    ],
    "contracts": [
        {
            "id": "039155-2025-Fin-2306-011-PC_2695-1",
            "awardID": "039155-2025-Fin-2306-011-PC_2695-1",
            "title": "Fiduciary Management Services for Pension & Assurance Scheme",
            "status": "active",
            "value": {
                "amount": 13500000,
                "currency": "GBP"
            },
            "dateSigned": "2024-08-27T00:00:00+01:00"
        }
    ],
    "bids": {
        "statistics": [
            {
                "id": "1",
                "measure": "bids",
                "relatedLot": "1",
                "value": 4
            },
            {
                "id": "2",
                "measure": "electronicBids",
                "relatedLot": "1",
                "value": 4
            }
        ]
    }
}