Management of Corporate European investment grade bonds

Short description: The task consist of management of an active Corporate European investment grade bond portolio, respecting resposible investment criteria (ESG and Paris agreement), and reporting. The Danish National Research Foundation expects to initially invest DKK 450 million, approximately EUR 60 million. The term of the contract is expected to …

CPV: 66140000 Servicios de gestión de cartera
Lugar de ejecución:
Management of Corporate European investment grade bonds
Organismo adjudicador:
Danmarks Grundforskningsfond
Número de premio:
365384

1. Buyer

1.1 Buyer

Official name : Danmarks Grundforskningsfond
Legal type of the buyer : Body governed by public law
Activity of the contracting authority : General public services

2. Procedure

2.1 Procedure

Title : Management of Corporate European investment grade bonds
Description : Short description: The task consist of management of an active Corporate European investment grade bond portolio, respecting resposible investment criteria (ESG and Paris agreement), and reporting. The Danish National Research Foundation expects to initially invest DKK 450 million, approximately EUR 60 million. The term of the contract is expected to be five (5) years.
Procedure identifier : 3ffa81fc-8017-431b-85df-0679a956594c
Previous notice : d4c3f50c-8caf-49df-af72-773b483c5484-01
Internal identifier : 365384
Type of procedure : Open
The procedure is accelerated : no
Justification for the accelerated procedure :
Main features of the procedure :

2.1.1 Purpose

Main nature of the contract : Services
Main classification ( cpv ): 66140000 Portfolio management services

2.1.2 Place of performance

Anywhere

2.1.3 Value

Estimated value excluding VAT : 4 000 000 Danish krone

2.1.4 General information

Legal basis :
Directive 2014/24/EU
529900XNGNM4I5IJVX98 -

5. Lot

5.1 Lot technical ID : LOT-0000

Title : Management of Corporate European investment grade bonds
Description : Short description: The task consist of management of an active Corporate European investment grade bond portolio, respecting resposible investment criteria (ESG and Paris agreement), and reporting. The Danish National Research Foundation expects to initially invest DKK 450 million, approximately EUR 60 million. The term of the contract is expected to be five (5) years.
Internal identifier : 365384

5.1.1 Purpose

Main nature of the contract : Services
Main classification ( cpv ): 66140000 Portfolio management services

5.1.2 Place of performance

Anywhere
Additional information :

5.1.3 Estimated duration

Duration : 5 Year

5.1.5 Value

Estimated value excluding VAT : 4 000 000 Danish krone

5.1.6 General information

Procurement Project not financed with EU Funds.
The procurement is covered by the Government Procurement Agreement (GPA) : yes

5.1.10 Award criteria

Criterion :
Type : Quality
Name : Portfolio management, organziation and assets under management.
Description : A stable and skilled investment team that has access to the necessary resources and allocates a large part of their time to European investment grade strategies will be considered positive. Furthermore, an independent compliance team using professional and sound risk measurement methods will be assessed positively. An asset manager that focuses on active portfolio management and maintains a realistic limit for the assets under management for the strategy is considered positive.
Weight (percentage, exact) : 15
Criterion :
Type : Quality
Name : Investment process, philosophy, and portfolio contruction.
Description : A stable investment process and a logically constructed portfolio, will be considered positive. An investment strategy that can comply with the investment requirements (as stipulated in the tender conditions) and has the potential to generate excess returns within those requirements will also be viewed positively.
Weight (percentage, exact) : 15
Criterion :
Type : Quality
Name : Performance for the strategy
Description : The foundation will calculate market-compliant performance and risk ratios based on the historical data of the strategy provided (return and duration). A strategy demonstrating consistently high and stable risk-adjusted excess returns will be assessed positively. Furthermore, a long track record exhibiting consecutive periods of excess performance primarily attributable to security selection will be considered a positive factor.
Weight (percentage, exact) : 15
Criterion :
Type : Quality
Name : Responsible investments
Description : A strategy complying with the foundation’s responsible investment policy is considered positive. Furthermore, integrating responsible investments considerations rigorously into the investment process and portfolio construction is considered a positive attribute. Additionally, engaging with companies and urging companies to comply with the responsible investment policy on topics where compliance is lacking is viewed favorably.
Weight (percentage, exact) : 20
Criterion :
Type : Quality
Name : Reporting
Description : Positive assessment is given when the required and optional reports, can be delivered satisfactorily and align with the contracting authority's reporting preferences.
Weight (percentage, exact) : 10
Criterion :
Type : Quality
Name : Contract
Description : It is weighed positively if there are no, small or few reservations to the contract. Any reservation will be priced; if it is not possible to price a reservation, it may force the contracting authority to reject the tender as non-compliant.
Weight (percentage, exact) : 5
Criterion :
Type : Quality
Name : Price
Description : The evaluation of the price criterion adheres to the specified evaluation model outlined in the tender conditions. The price evaluation involves a weighted assessment for portfolios of DKK 450 and 600 million, with each scenario carrying a 50% weight. The comparison will be based on the weighted cost percentage for these two scenarios. Costs are measured as the portfolio management fee, including any applicable additional fees (note that custody fees are excluded and hence not considered part of the evaluation).
Weight (percentage, exact) : 20
Description of the method to be used if weighting cannot be expressed by criteria :
Justification for not indicating the weighting of the award criteria :

5.1.12 Terms of procurement

Information about review deadlines : I henhold til lov om Klagenævnet for Udbud (lov nr. 492 af 12. maj 2010 med senere ændringer), skal klage indgives til Klagenævnet for Udbud inden følgende klagefrister: Klage over ikke at være blevet udvalgt skal være indgivet til Klagenævnet for Udbud inden 20 kalen-derdage, jf. lovens § 7, stk. 1, fra dagen efter afsendelse af en underretning til de berørte ansøgere om, hvem der er blevet udvalgt, når underretningen er ledsaget af en begrundelse for beslutningen i overensstemmelse med lovens § 2, stk. 1, nr. 1, og udbudslovens § 171, stk. 2. I andre situationer skal klage over udbud, jf. lovens § 7, stk. 2, være indgivet til Klagenævnet for Udbud inden: 1) 45 kalenderdage efter at ordregiveren har offentliggjort en bekendtgørelse i Den Europæiske Unions Tidende om, at ordregiveren har indgået en kontrakt. Fristen regnes fra dagen efter den dag, hvor bekendtgørelsen er blevet offentliggjort. 2) 30 kalenderdage regnet fra dagen efter den dag, hvor ordregiveren har underrettet de berørte tilbudsgivere om, at en kontrakt baseret på en rammeaftale med genåbning af konkurrencen eller et dynamisk indkøbssystem er indgået, hvis underretningen har angivet en begrundelse for beslutningen. 3) 6 måneder efter at ordregiveren har indgået en rammeaftale regnet fra dagen efter den dag, hvor ordregiveren har underrettet de berørte ansøgere og tilbudsgivere, jf. lovens § 2, stk. 2, og ud-budslovens § 171, stk. 4. 4) 20 kalenderdage regnet fra dagen efter at ordregiveren har meddelt sin beslutning, jf. udbuds-lovens § 185, stk. 2. Senest samtidig med at en klage indgives til Klagenævnet for Udbud, skal klageren skriftligt under-rette ordregiveren om, at klage indgives til Klagenævnet for Udbud, og om hvorvidt klagen er indgi-vet i standstill-perioden, jf. lovens § 6, stk. 4. I tilfælde hvor klagen ikke er indgivet i standstill-perioden, skal klageren tillige angive, hvorvidt der begæres opsættende virkning af klagen, jf. lovens § 12, stk. 1. Klagenævnet for Udbuds e-mailadresse er klfu@naevneneshus.dk . Klagenævnet for Udbuds klagevejledning kan findes på https://naevneneshus.dk/start-din-klage/klagenaevnet-for-udbud/vejledning/.

5.1.15 Techniques

Framework agreement :
No framework agreement
Information about the dynamic purchasing system :
No dynamic purchase system

5.1.16 Further information, mediation and review

Review organisation : Klagenævnet for Udbud
Organisation providing information concerning the general regulatory framework for taxes applicable in the place where the contract is to be performed : Klagenævnet for Udbud
Organisation providing information concerning the general regulatory framework for environmental protection applicable in the place where the contract is to be performed : Konkurrence- og Forbrugerstyrelsen
Organisation providing additional information about the procurement procedure : Danmarks Grundforskningsfond
Organisation providing offline access to the procurement documents : Danmarks Grundforskningsfond
Organisation providing more information on the review procedures : Klagenævnet for Udbud
TED eSender : Mercell Holding ASA

6. Results

Value of all contracts awarded in this notice : 450 000 000 Danish krone

6.1 Result lot ldentifier : LOT-0000

At least one winner was chosen.

6.1.2 Information about winners

Winner :
Official name : Nordea Asset Management
Tender :
Tender identifier : Management of Corporate European investment grade bonds - Nordea Asset Management
Identifier of lot or group of lots : LOT-0000
Value of the tender : 450 000 Danish krone
Contract information :
Identifier of the contract : Management of Corporate European investment grade bonds - Nordea Asset Management
Date of the conclusion of the contract : 20/11/2024
The contract is awarded within a framework agreement : no

6.1.4 Statistical information

Received tenders or requests to participate :
Type of received submissions : Tenders from medium tenderers
Number of tenders or requests to participate received : 11

8. Organisations

8.1 ORG-0001

Official name : Danmarks Grundforskningsfond
Registration number : 17730290
Postal address : Holbergsgade 14, 1
Town : København K
Postcode : 1057
Country subdivision (NUTS) : Byen København ( DK011 )
Country : Denmark
Contact point : DG - Steen Marcus
Email : sm@dg.dk
Telephone : +45 21705690
Roles of this organisation :
Buyer
Organisation providing additional information about the procurement procedure
Organisation providing offline access to the procurement documents

8.1 ORG-0002

Official name : Klagenævnet for Udbud
Registration number : 37795526
Postal address : Nævnenes Hus, Toldboden 2
Town : Viborg
Postcode : 8800
Country subdivision (NUTS) : Vestjylland ( DK041 )
Country : Denmark
Telephone : +45 72405600
Internet address : http://www.klfu.dk
Roles of this organisation :
Review organisation
Organisation providing more information on the review procedures
Organisation providing information concerning the general regulatory framework for taxes applicable in the place where the contract is to be performed

8.1 ORG-0003

Official name : Konkurrence- og Forbrugerstyrelsen
Registration number : 10294819
Postal address : Carl Jacobsens Vej 35
Town : Valby
Postcode : 2500
Country subdivision (NUTS) : Byen København ( DK011 )
Country : Denmark
Telephone : +45 41715000
Internet address : http://www.kfst.dk
Roles of this organisation :
Organisation providing information concerning the general regulatory framework for environmental protection applicable in the place where the contract is to be performed

8.1 ORG-0004

Official name : Nordea Asset Management
Registration number : 28715560
Postal address : Strandgade 3
Town : københavn
Postcode : 0900
Country subdivision (NUTS) : Byen København ( DK011 )
Country : Denmark
Telephone : +45 21495983
Roles of this organisation :
Tenderer
Winner of these lots : LOT-0000

8.1 ORG-0005

Official name : Mercell Holding ASA
Registration number : 980921565
Postal address : Askekroken 11
Town : Oslo
Postcode : 0277
Country subdivision (NUTS) : Oslo ( NO081 )
Country : Norway
Contact point : eSender
Telephone : +47 21018800
Fax : +47 21018801
Internet address : http://mercell.com/
Roles of this organisation :
TED eSender

11. Notice information

11.1 Notice information

Notice identifier/version : 4956e779-de95-4301-a041-11805f15a769 - 01
Form type : Result
Notice type : Contract or concession award notice – standard regime
Notice dispatch date : 05/12/2024 14:34 +00:00
Notice dispatch date (eSender) : 05/12/2024 15:00 +00:00
Languages in which this notice is officially available : English

11.2 Publication information

Notice publication number : 00750475-2024
OJ S issue number : 239/2024
Publication date : 09/12/2024