The City of Rovaniemi will request your tender for asset management services in accordance with this invitation to tender and its appendices. Contracts shall be concluded for an indefinite period.
The procurement involves competitive tendering that exceeds the EU thresholds and the procurement procedure is an open procedure.
The investable wealth of the City of Rovaniemi consists of a cash surplus. Cash surplus refers to that part of the cash assets that is not tied to the maintenance of payment transactions.
The share of approximately EUR 20 million of the cash and cash equivalents is estimated to be investable on a long-term basis, and 2 asset managers will be sought to manage this asset through a tendering process. The outsourced investment portfolios will amount to approximately EUR 10 million per asset manager. Thus, the selected service provider does not have the exclusive right to produce the services that are the subject of the procurement. At a later stage, the investor reserves the right to increase or decrease the investable assets held by asset managers.
The City of Rovaniemi invites tenders for the financial management of a full power of attorney. In the case of alternative investments, the offer does not have to be a full power of attorney agreement and the agreement may be separate from the totality of equity and fixed income investments. In the procurement procedure, an open procurement procedure shall apply. This is an EU-wide tendering process. The contracts are valid until further notice.
In the procurement procedure, tenders shall be invited in accordance with the attached investment guidelines and the limits permitted by the criteria for asset management and investment activities. Annexes 1 and 2 to the invitation to tender. A more detailed definition of the extent to which each Annex is complied with is defined in the Annex, the minimum requirements, Annex 6.
The start-up measures and procedures shall be negotiated separately with the service providers at the time of the conclusion of the contract, in which case the agreement with the selected asset managers shall specify the period within which the investment policy agreed in the framework will be followed.
The client's objective is to ensure high-quality, responsible and competitive asset management in accordance with the investment plan of the capital entrusted to asset management. In the client's investment activities, it is increasingly important to take responsibility issues into account throughout the investment process. The investment plan and the basics of wealth management and investment activities describe in more detail the Client's responsible and sustainable investment. The asset manager reports monthly to the Client on asset management in accordance with the investment plan.
The aim is for the procurement contract to enter into force no later than 4.5.2023. The start date of the service provision shall be specified when the contract is signed