Establishment and management of an index-based special AIF with corporate bonds: The subject of the tender is the establishment and ongoing management of an index-based special AIF with euro-denominated corporate bonds from global issuers for the pension funds of the states of Baden-Württemberg, Hesse, and the special assets of the federal government and social insurance (contracting authority), in which the contracting authorities can jointly invest a minimum volume of 3 billion euros. The contracting authorities will proceed in three stages to select the applicants or applicant consortiums: 1) Formal review of the participation application, 2) Verification of the suitability of the applicant or applicant consortium based on the suitability requirements mentioned in the announcement, 3) Selection of the applicants that best meet the suitability criteria: The contracting authorities will invite the applicants or applicant consortiums that best meet the suitability requirements to submit an offer (ranking). They reserve the right to invite only the 8 best applicants, even if more applicants meet the suitability requirements. In determining the ranking, the contracting authorities will proceed as follows: The contracting authorities will particularly consider the revenues cited by the applicants, assets under management, as well as the references and their comparability with the present procurement project. The cited information and evidence are decisive. The evaluation is carried out in a relative comparison of the applicants with each other. This concerns selection criteria, not award criteria.

LOT-0001
Establishment and management of an index-based special AIF with corporate bonds.
The subject of the tender is the establishment and ongoing management of an index-based special AIF with euro-denominated corporate bonds from global issuers for the pension funds of the states of Baden-Württemberg, Hesse, and the special assets of the federal government and social insurance (contracting authority), in which the contracting authorities can jointly invest a minimum volume of 3 billion euros. Other public contracting authorities are examining participation in the procurement process and may join as additional contracting authorities during the ongoing procurement process. In this case, the minimum investment volume will increase. The Deutsche Bundesbank will act as fiscal agent purchasing shares in this special AIF for the portfolios of the participating contracting authorities. The fund must be suitable for taking on a growing investment volume. The fund must take into account the joint sustainability guidelines, which are based on the guidelines for Paris-aligned EU reference values of the Delegated Regulation (EU) 2020/1818 of the Commission of July 17, 2020 ("PAB Standard"). The services to be provided by the contractor include in particular the establishment and management of the fund with the necessary services from capital management companies and custodians, the establishment and periodic maintenance of the underlying index of the fund, and regular sustainability and performance reporting. The contractor's services will likely include in particular the following services: (1) Design, establishment, and maintenance of an index ("Customized Index") that meets the joint sustainability requirements. The requirements are based on the PAB Standard; (2) Provision of all necessary data (especially sustainability data) required for the creation of the Customized Index; (3) Establishment and management of an investment vehicle (special AIF under German law) that passively replicates the Customized Index; (4) Involvement of a capital management company according to the requirements of the Investment Code (according to §§ 17, 282, 284, 285 KAGB); (5) Services of the custodian; (6) Fund and sustainability reporting with monthly, point-in-time reporting; benchmark comparison of the Customized Index with the base index and with a sustainable comparison index according to the PAB Standard; (7) additionally, daily data provision with key figures regarding the investment vehicle (special AIF) and index. The contractor is expected to receive a total remuneration for the complete service package. All further details are provided in the service description. The contracting authorities reserve the right to adjust and refine the services to be rendered during the course of the process.