UK Public Sector Contracts & Tenders

Brunel are seeking a single vendor to provide a discretionary service of collating, processing, reporting and benchmarking on costs incurred by clients invested in Brunel's multi-manager investment funds. The vendor must be able to provide the services below: 1) Cost Transparency Initiative (CTI) template collation, production & processing. We require a provider to provide the following on an annual basis: • Collate the costs & charges from the underlying investment managers within our Listed & Private Market multi-manager funds • Produce both the fund & client-level versions of the CTI templates to a specified timeline at a March financial year end • Create the Byhiras templates at both client & investment-level and upload onto the AB Cost Transparency, Compliance & Validation System. Data is to be collected by means of templates created by the Pensions & Lifetime Savings Association (PLSA) as updated from time to time, and through other supporting documents produced by the underlying fund managers for the mandate(s) they hold for Brunel. The CTI was set up to support consistent and standardised disclosure of costs & charges to institutional investors however, as it may not be relevant for all breakdowns of costs & charges to all asset classes we are looking for a provider who: • Has the necessary investment knowledge & experience to analyse the data given within a controlled environment • Is able to follow up with investment managers for further information if not sufficient, to ensure accurate reporting and quality assurance across all asset classes. As the data being collated from the investment managers is complex in nature and there is a desire internally to analyse the information separately from the CTI output, it is expected that the provider has an automated and efficient way of capturing the underlying costs & charges in a centralised portal or database, to which Brunel will have access. 2) Benchmarking and/or provision of value for money scoring • By using the collated CTI templates, the service will deliver objective, actionable benchmarking reporting on the value for money Brunel's investment funds provide at the following levels: • Fund • Client • Pool • The analysis should be broader than just a comparison of ongoing charges for underlying investment managers and should highlight areas for improvement, where applicable. • Benchmarking will also be required at a total asset class level: Passives, Private & Listed Markets. • Depth & breadth of the benchmarking universe needs to be sufficiently rich to draw conclusive analysis on value for money for Brunel's clients and should be directly comparable to Brunel's investments where possible. • Reporting should include trending analysis & expectations on the impact on costs and performance as the pool grows and should reflect the service provider's deep understanding of asset class cost dynamics. • Access to the data to conduct internal analysis is also a requirement. Additional information: Brunel Pension Partnership (Brunel) is one of eight UK Local Government Pension Scheme pools, bringing together ~£35 billion of investments of ten like-minded funds (our clients). At this stage this opportunity is soft market test only and not a call for competition. The Contracting Authority may or may not subsequently publish a formal contract opportunity notice in the future. Interested parties are requested to indicate their capabilities for both services requested, including size of peer groups for benchmarking purposes and return via email to procurementqueries.brunel@brunelpp.org by 12pm on the Return Date (14 June 2024). Queries should be submitted to procurementqueries.brunel@brunelpp.org before 31 May 2024. (sample CTI templates are attached)

Brunel Pension Partnership (Brunel) is one of eight UK Local Government Pension Scheme pools, bringing together ~£35 billion of investments of ten like-minded funds. We are seeking a single vendor to provide a number of specific implementation services. At this stage this opportunity is soft market test only and not a call for competition. The Contracting Authority may or may not subsequently publish a formal contract opportunity notice in the future. The main purpose is to understand how many providers within the market are able to provide both of the below services: 1) Cash Equitization Services We are seeking to "equitize" residual cash within applicable multi-manager funds. This involves applying market exposure through derivatives, retaining access to cash for operational purposes, but attaining market risk premium exposure. Our initial focus would relate to 6 of our equity funds which have average cash balances of 1-2% (see attachment). - We seek a streamlined investment process, minimising work for our inhouse operations team. - Providers must demonstrate specific experience delivering this specific service as a standalone service (not just general futures execution services). 2) Agency FX Trading Our current approach is that most of our underlying asset managers competitively trade their required spot FX transactions on their respective investment mandates, however some FX trading is done by our custodian. Our intention is to leave trading with managers in the majority of instances, but identify an "agency only" FX trading partner, who can be used as an alternative to our custodian in select parts of our portfolio. Accounts to be included within this program would be decided on a case-by-case basis by Brunel's inhouse team. We estimate the typical annual volume which could be traded via this partner to be in the region of $2bn, with a wide range of currencies traded. This could be from somewhere in the region of 30-50 individual manager/client accounts (some of which may sit within our ACS structure, and some may be Non ACS accounts). All transactions need to be traded on an agency only basis, and our preference is to appoint a provider who only trades on an agency basis (i.e. no proprietary trading book within any part of their business, removing conflict of interests). Additional Services - as we consider the overall suitability and fit of service providers, we are seeking information about the potential wider value add to Brunel. With that in mind, please outline any additional auxiliary services which providers could offer (now or in future), complementing the core services outlined above, and how this would relate to Brunel. Interested parties are requested to indicate their capabilities for both services requested and return via email to procurementqueries.brunel@brunelpp.org by 12pm on the Return Date (April 30 2024). Queries should be submitted to procurementqueries.brunel@brunelpp.org before April 19th 2024.