request for proposal - eppf
TRANSCRIPT
Request for Proposal:
Provision of Full fund Administration Services
14 May 2021
Administrative Briefing Session
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▪ Welcome and Opening – Khanyiso
▪ About the Fund - Prince/Thandeka
▪ Scope of work – Prince/Thandeka
▪ Timelines – Khanyiso
▪ RFP Response & Fee Structure – Khanyiso
▪ Disqualifying criteria – Khanyiso
▪ Questions:Team
Agenda
▪ Self Administered Defined Benefit Pension Fund
▪ Largest Financial Sector Conduct Authority (FSCA) regulated retirement fund
in South Africa
▪ Active members (June 2020)
▪ Pensioners membership (June 2020)
▪ Head Office Bryanston, satellite offices Emalahleni, Durban, Bellville and East
London with around 120 permanent employees;
▪ Core business activities are Pension Fund Administration (RFO) and
Investment Management Unit (IMU) with support functions including Finance,
HR, IT, Risk and Compliance and Legal and Corp Sec
▪ Current approximately R144 .5 Billion assets under management (June 2020)
About the Fund
41 915 33 146
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Scope of Work
Full Fund Administration services for in-house portfolios (All asset
types)
• Transaction Processing services
• Order management
• Trade processing – trade capturing various asset classes.
• Trade Confirmation, matching and settlements
• Reconciliation of portfolios
• Asset Transitions – take-on and terminations
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Scope of Work
Fund Accounting and Replication Services(All asset types)
Full Replication service which should, amongst others, include as a
minimum the following;
• Data Provision, transactional, position and static data;
• Processing of corporate events
• Security Valuations.
• Reconciliations Services
• Fund Accounting Services
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Scope of Work
• Reporting Service – The fund administrator must provide audited and
unaudited daily and monthly accounting data, valuation, returns,
reporting. These will include the periodic standard industry reporting incl.
Regulatory reporting SARD D427, B16, K48 Reg28 etc.
• Technology services – Access to various investment administration
platforms flexible and user-friendly web-based technology platform that
is fully integrated with the counting and performance/risk platform
• Client services – a relationship manager who oversees EPPF supported
by a client service manager and subject matter experts.
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Scope of Work
Compliance Support services (All asset types)
• Monitoring relevant legislation
• Monitoring mandate rules
• Pre-trade compliance
• Post-trade compliance
• Portfolio Analytics Data (Performance Measurement and Attribution Analysis) (All asset types)
• Provide monthly audited/ quality-controlled performance reports based on accounting data
and delivered within the agreed reporting deadlines. The returns shall be calculated on a
gross and net of fee basis and the reporting format is based on EPPF’s specifications.
• Provide audited transactions and holdings data for importing onto a third-party
performance measurement system. In a format specified by EPPF within the agreed
reporting deadlines.
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Scope of Work
Investment Management
System integration with the portfolio management system, in this case BPM, where we can
directly send trades to a trading platform after conducting optimisation, pr/e-trade analytics,
rebalancing, etc
User friendly cash management where we can easily see cash forecasts, settlements, funds
available to trade in one place without having to navigate many windows.
Rebalancing feature
Should give warnings regarding cash holdings, embargoes at pre-trade phase.
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Scope of Work
One that allows for a customised benchmark and ease of changing it should a future need arise.
Other Requirements
Ability to accommodate a multi-fund capability (DC & DB Fund); unitisation capability.
ESG Impact investing monitoring and reporting
Software Licensing (Unconditional) – 17 users
• All Fund Administration services mentioned above).
• Implementation (Once – Off)
✓ Installation (if applicable) of software and licences (and other, if applicable)
• Training (Once-Off)
✓ 17 key stakeholders
• Current system Information
✓ Data to be migrated from the current system to the new system.
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Timelines
RFP
Timeline RF
P
Advert
to m
edia
--------------- RFP Process ----------------
07-1
0 M
ay 2
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14 M
ay
2021
May 2021
Estimated contract start date – July 2021
The Fund will only be able to provide formal communication to bidders, once the overall
evaluation and approval process has been concluded, this includes actual approval by the
Procurement Committee and/ or any other relevant Board Committee/s.
June 2021
Briefing S
essio
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31 M
ay 2
021
18 M
ay 2
021
21 M
ay 2
02
1
24 –
25 J
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021
Cut-
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Fin
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Pre
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sh
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respon
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Clo
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Short
listin
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18 J
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Please note
The Fund reserves the right to withdraw, at any stage of this
process, amend or cancel this RFP, reject or not accept any or all
proposals
All queries must be submitted in writing only and responses to queries
or points of clarity will be on the Fund’s website. Electronic email
address for queries is [email protected]
Proposals received by any other means other than communicated will
not be considered and will be rendered invalid;
Respondents are to make sure that their RFP response are
electronically submitted to the above-mentioned email address by
16h00 South African time on the 31 May 2021.
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Evaluation Criteria
Emphasis will be on;
▪ Functional Ability (65%)
▪ Pricing (20%)
▪ B-BBEE (10%)
▪ COPIA Compliance (5%)
Shortlisted respondents will be provided with detailed information for the second
stage of the selection process.
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RFP Response
▪ Proposals must be electronically generated and signed by the individual(s)
legally authorised to bind the respondent (Signed RFP document,
acceptance of terms and conditions), Contract terms and conditions to be
negotiated with a successful Bidder;
▪ Respondents must, on the official letterhead of the company submitting the
response, declare that:
- the information provided in all documentation is true and correct; and
- the signatory of the tender document is duly authorised to do so.
▪ The electronic copies of the RFP proposal and/or examples of work must be
provided in Adobe Reader Portable Document Format (PDF), free of anyviruses or malicious ware;
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RFP Response (cont.)
The structure of the RFP response to include;
▪ Executive Summary of the Proposal
▪ Company Background and Track Record
▪ Proposed team members for the project and their credentials
▪ Proposed Services
▪ Key Deliverables
▪ Pricing Schedule
▪ References – SA (three references relating to services required to
be included)
▪ BBBEE Credentials
▪ Supporting Documents
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Supporting Documents
Mandatory/Compulsory Supporting documents;
• A detailed statement of the company’s B-BBEE credentials as required in the above,
supported by a rating certificate from a SANAS accredited rating institution or a B-BBEE
affidavit.
• Respondents must complete the EPPF POPIA Self Compliance Forms (EPPF Operator
Privacy Due Diligence Form and Operator Privacy Compliance Self-Assessment Form)
• Up-to-date full set of Audited Financial Statement of the specific entity that will be
submitting the proposal, and if successful, contracting with the Fund. Group or any other
entity’s Annual Financial Statements will not be accepted. Redacted or missing pages or
concealed sections will render the financial statements incomplete and will lead to
disqualification.
• In the case of a Joint Venture the above-mentioned documentation, with the exception of
the B-BBEE credentials, need only be supplied for the primary entity.
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Supporting Documents (Cont.).
Administrative Supporting Documents;
• Certified copies of CIPC company registration documentation. In the case of respondents
who are not companies as envisaged in the Companies Act of 2008, equivalent founding
documents must be submitted;
• A valid Tax Clearance Certificate and/or PIN indicating good standing with the South
African Revenue Services (SARS) or applicable revenue authority;
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Fee Structure
The fee and costs schedule must be complete as per below table;
All pricing must be inclusive of Value Added Tax (VAT)
No. Item descriptionPercentage (%) Price (ZAR) Incl
VAT
1 Fund Administration Fees per annum
2 Licensing (Unconditional)
3 Consultation fees where applicable
4 Development costs
5 Project management fees
6 Implementation (Once-Off)
7 Training (17 Key Stakeholders – Once Off)
8 Support and Maintenance Costs
9 Data Migration and Archiving
10 Other Costs if applicable
Total
Disqualifying criteria
Failure to meet the below;
▪ To submit on time as per the closing date and time
▪ Acceptance of the RFP terms and conditions (Page 22) – Contract
terms and condition shall be discussed and negotiated with the
successful Bidder.
▪ Compliance requirement: structure of responses (4.6.1 to 4.6.4)
▪ A minimum of five (5) years demonstrated experience in fund
administration services.
▪ EPPF POPIA Self Compliance Forms;
• EPPF Operator Privacy Due Diligence Form
• Operator Privacy Compliance Self-Assessment Form
Disqualifying criteria
Failure to meet the below;
▪ Declaration - formal letter
▪ A detailed statement of the company’s B-BBEE credentials as
required in the above, supported by a rating certificate from a
SANAS accredited rating institution or a B-BBEE affidavit.
▪ Complete set of recent Audited Annual Financial Statements of the
specific entity that will be submitting the proposal. Group or any
other entity’s Annual Financial Statements will not be accepted.
Respondents who are not required by law to have audited financial
statements must include a letter signed by an authorised official
confirming that the respondent is not required by law to have audited
financial statements and accordingly, is unable to provide the same.
Financial statements with missing pages or reduced/deleted portions
will lead to disqualification from the tender process.
Disqualifying criteria
NB - Please make use of the checklist to ensure that all minimum
requirements are met and to avoid being disqualified.
Also the presentation and the RFP document, to ensure all the required
documents are submitted.
Questions?
Electronic mail address for queries is
Deadline for submission of queries is on 18 May 2021 at
16h00 SA Time.
Responses to queries or points of clarity will be updated on the
EPPF Website by 21 May 2021 at 16h00 SA Time.
Closing date for RFP submissions will be on 31 May 2021
at 16h00 SA Time.