Scope

The Board currently has around 16bn GBP of assets under management which is expected to grow rapidly to 22bn GBP. In order to meet our strategic objectives on investment performance and financial risk management it is essential we have daily access to comprehensive reliable asset information. It is therefore our intention to procure a solution that delivers this requirement.

The Board will choose the solution that provides best value for money and enables accurate:

a) Calculation of investment risk; and

b) Performance management.

The Applicant's solution will be based primarily on those inputs listed below but may be augmented by feeds from other third parties:

— position level feeds from the PPF's custodian;

— proprietary data about the PPF's expected liabilities; and

— liabilities and assets from schemes awaiting entry into the PPF.

The information provided from the data will ensure the Board is able to:

a) enhance the ability to proactively manage risk within the agreed risk budgets;

b) ensure asset managers have been managing the assets in line with agreed mandates; and

c) understand the factors that have driven the performance of the:

— asset managers; and

— in-house investment team.

The solution selected will provide metrics for the current asset portfolio in a timely, flexible and user-friendly manner. In addition a key feature of the solution will be the ability to model the PPF's liabilities as well as providing sufficient flexibility to allow for anticipated developments in both the investment strategy and organisation structure as the assets continue to grow over time.

The minimum criteria are as follows:

Minimum Business Requirements

In order to avoid Applicants completing a lengthy and time consuming ITT process we have made a number of assumptions around the proposed solution, given either our prior knowledge of the product and/or market place via the Board's soft market testing following the Prior Information Notice.

It is assumed for the purpose of this ITT that all of the provisions listed below are available as standard within the solution. If however this is not the case and any of the provisions listed below is not available as standard, please clearly state in the response what is missing as we will ask you to demonstrate this provision at a later date as part of our evaluation process. If there is any missing provision but it is in development and certain to be in production within 12 months from the date of this ITT, please state this. It is expected that a maximum of 2 minimum requirements would be in this development category. We strongly encourage you to also send a question in advance of the deadline.

If the Applicant is tendering for a subset of the requirements;

1. hosted/managed service;

2. performance measurement;

3. performance attribution;

4. risk analytics;

5. portfolio analytics;

6. liability benchmarking;

then the Applicant should make this clear.

Please see the ITT for further details on the Bravo website: https://ppf.bravosolution.co.uk