National LGPS Frameworks has launched the contract to procure transition management and implementation services as assets are moved from individual funds into pooled arrangements expected by the government.
The 90 or so funds are being consolidated into a number of large pooled ones, a process that might involve significant changes to the current composition of assets, and needs advice for managing risks and minimising costs.
Nicola Mark, chair of the National LGPS Frameworks collaboration, said using a framework contract enables users to leverage better prices while still supporting local decision making and service requirements.
The LGPS said in December that its procurement frameworks had so far delivered savings of £88m.
Mark said: “The process of transition to the pools is set to be a very testing one for all of us and LGPS funds and pools face an array of complex legal, technical and governance issues.
“The establishment of this new transition management and implementation services framework has enabled individual funds and pools to focus on the other critical challenges required for the April 2018 deadline and will continue to deliver savings in both time and money in the years ahead”
The providers appointed to the frameworks are:
Transition management and implementation services, and transition execution services: Blackrock, Goldman Sachs, Legal and General Investment Management, Macquarie Capital (Europe), Northern Trust, Russell Investments.
Transition management advisory services: Allenbridge, Hymans Robertson, Mercer.
