RISK ANALYSIS SYSTEM TENDER AP3 2013/46

Tredje AP-fonden, AP3

Tredje AP-fonden (AP3) is one of five buffer funds in the Swedish national pension system. The funds are part of the pay-as-you-go component of the pension system where the current pension contributions are used to finance current pension outgoings. The role of the AP funds is to act as a buffer in the system which means that surpluses or deficits in annual disbursement are financed by the buffer without impacting central government finances. The AP funds' mandate is to generate maximum possible benefit for the pension system by managing the fund capital so as to deliver strong investment returns at a low level of risk. AP3 manages a diversified global portfolio of listed equities, fixed income assets and alternative investments. The value of AP3's portfolio was SEK 222.3 billion on 30 June 2012. More information about AP3 and our role in the Swedish pension system can be found at our webpage www.ap3.se.
AP3 is initiating a procurement of new solutions for its risk analysis. The objective is to get a common platform for risk analysis to be used both in the portfolio management/allocation process and for the risk control and follow up.
The primary scope is to find a multi-asset risk system covering equity, fixed income, foreign exchange and alternative assets, both listed and non-listed, to reflect AP3's portfolio. The risk analysis should be possible to perform on an aggregated basis as well as broken down to flexible levels such as, but not limited to, asset classes, user defined sub-portfolios, risk factors, instrument types and individual positions. The solution should be able to handle both absolute and relative risk analysis. It should be possible to carry out simulations such as what-if/scenario analyses and stress tests and to analyse the effects of changes to positions in the portfolio, both aggregated risk and broken down on underlying risk components.
The solution should be able to analyse long and short books within equities, rates and credit portfolios providing risk statistics for both the long and short side as well as for the aggregated net exposure.
The main focus will be on market risk including but not limited to exposure, VaR, Expected Shortfall, risk factors, scenario analysis and stress tests. The possibility to include counterparty risk and liquidity risk within the solution will be of interest.
Risk budgeting capability is considered a strong positive.
The secondary scope is to find a suitable risk factor modeling system for our equity exposure, either as an integrated part of the multi-asset system or as a standalone product.
We are looking for an internet provided ASP solution where an automated daily update of all positions must be possible. Data management and mapping including management and validation of historical time series as well as calculation of covariance matrices must be offered as part of the solution.

Sista ansökningsdag

Tidsfristen för mottagande av anbud var 2013-03-20. Upphandlingen offentliggjordes den 2013-02-15.

Leverantörer

Följande leverantörer nämns i tilldelningsbeslut eller andra upphandlingsdokument:

Vem? Vad? Var?
Upphandlingshistorik
Datum Dokument
2013-02-15 Meddelande om upphandling
2014-03-19 Meddelande om tilldelning
Meddelande om upphandling (2013-02-15)
Objekt
Upphandlingens omfattning
Titel: Dataanalys
Kvantitet eller omfattning:
The main scope of the procurement is to fulfill AP3's requirements for reporting and analysing market risk for different reporting levels, from the aggregated portfolio view down to individual positions. Depending on whether the risk system covers style analysis for equities in a satisfactory manner or not, the Fund might consider acquiring a separate solution for this task.150000.00300000.00
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Meddelandeinformation
Originalspråk: svenska 🗣️
Dokumenttyp: Meddelande om upphandling
Kontraktets art: Tjänster
Reglering: Europeiska unionen – inom ramen för avtalet om offentlig upphandling
Gemensam upphandlingsterminologi (CPV)
Kod: Dataanalys 📦

Förfarande
Förfarandetyp: Förhandlat förfarande
Anbudstyp: Anbud på en eller flera delar
Kriterier för tilldelning
Det ekonomiskt mest fördelaktiga

Upphandlande myndighet
Identitet
Land: Sverige 🇸🇪
Upphandlande myndighet (typ): Ministerium eller annan central
Upphandlande myndighet (namn): Tredje AP-fonden, AP3
Postadress: Box 1176
Postnummer: 111 91
Postort: Stockholm
Kontakt
Webbadress: http://www.ap3.se 🌏
E-post: risktender@ap3.se 📧
Telefon: +46 855517100 📞
Fax: +46 855517120 📠

Referens
Datum
Avsändningsdatum: 2013-02-15 📅
Sista anbudsdag: 2013-03-20 📅
Publiceringsdatum: 2013-02-20 📅
Identifierare
Meddelandenummer: 2013/S 036-057413
EUT-S-nummer: 36
Ytterligare information
General and public information on AP3 can be found on our website: www.ap3.se. Important notice on secrecy: This procurement is governed by Swedish and EU legislation concerning Public Procurement. Should the applicant require prolonged security (after the procurement is finalized and closed) it should be specifically stated in the application.
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Objekt
Upphandlingens omfattning
Kort beskrivning:
Tredje AP-fonden (AP3) is one of five buffer funds in the Swedish national pension system. The funds are part of the pay-as-you-go component of the pension system where the current pension contributions are used to finance current pension outgoings. The role of the AP funds is to act as a buffer in the system which means that surpluses or deficits in annual disbursement are financed by the buffer without impacting central government finances. The AP funds' mandate is to generate maximum possible benefit for the pension system by managing the fund capital so as to deliver strong investment returns at a low level of risk. AP3 manages a diversified global portfolio of listed equities, fixed income assets and alternative investments. The value of AP3's portfolio was SEK 222.3 billion on 30 June 2012. More information about AP3 and our role in the Swedish pension system can be found at our webpage www.ap3.se.
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AP3 is initiating a procurement of new solutions for its risk analysis. The objective is to get a common platform for risk analysis to be used both in the portfolio management/allocation process and for the risk control and follow up.
The primary scope is to find a multi-asset risk system covering equity, fixed income, foreign exchange and alternative assets, both listed and non-listed, to reflect AP3's portfolio. The risk analysis should be possible to perform on an aggregated basis as well as broken down to flexible levels such as, but not limited to, asset classes, user defined sub-portfolios, risk factors, instrument types and individual positions. The solution should be able to handle both absolute and relative risk analysis. It should be possible to carry out simulations such as what-if/scenario analyses and stress tests and to analyse the effects of changes to positions in the portfolio, both aggregated risk and broken down on underlying risk components.
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The solution should be able to analyse long and short books within equities, rates and credit portfolios providing risk statistics for both the long and short side as well as for the aggregated net exposure.
The main focus will be on market risk including but not limited to exposure, VaR, Expected Shortfall, risk factors, scenario analysis and stress tests. The possibility to include counterparty risk and liquidity risk within the solution will be of interest.
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Risk budgeting capability is considered a strong positive.
The secondary scope is to find a suitable risk factor modeling system for our equity exposure, either as an integrated part of the multi-asset system or as a standalone product.
We are looking for an internet provided ASP solution where an automated daily update of all positions must be possible. Data management and mapping including management and validation of historical time series as well as calculation of covariance matrices must be offered as part of the solution.
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Delkontraktets nummer: 1
Delkontraktets titel: RISK ANALYSIS SYSTEM TENDER AP3 2013/46
Delkontraktets nummer: 2
Kvantitet eller omfattning:
The main scope of the procurement is to fulfill AP3's requirements for reporting and analysing market risk for different reporting levels, from the aggregated portfolio view down to individual positions. Depending on whether the risk system covers style analysis for equities in a satisfactory manner or not, the Fund might consider acquiring a separate solution for this task.
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Beräknat värde exklusive moms: 150 000 💰
300 000 💰
Beskrivning av alternativen:
Any combination of:
a) solution for ex ante risk analysis of multi asset portfolios
b) solution for style analysis for equities
Antal möjliga förlängningar: 2
Varaktighet: 36 månader
Referensnummer: 2013/46
Plats för genomförandet
Huvudort eller plats för utförandet: Stockholm

Juridisk, ekonomisk, finansiell och teknisk information
Villkor för deltagande
Behörighet att utöva yrkesverksamheten: See criteria set up in RFI. RFI available upon request from risktender@ap3.se.
Ekonomisk och finansiell ställning: See criteria set up in RFI. RFI available upon request from risktender@ap3.se.
Lägsta nivå(er) på standarder: See criteria set up in RFI. RFI available upon request from risktender@ap3.se.
Teknisk och yrkesmässig förmåga: See criteria set up in RFI. RFI available upon request from risktender@ap3.se.

Förfarande
Lägsta antal anbudssökande: 1
Högsta antal anbudssökande: 10
Objektiva urvalskriterier: See criteria set up in RFI. RFI available upon request from risktender@ap3.se.
Språk
Språk: engelska 🗣️
svenska 🗣️

Upphandlande myndighet
Kontakt
Kontaktpunkt: Mattias Bylund

Referens
Identifierare
Referensnummer tilldelat av upphandlande myndighet: 2013/46
Ytterligare information
General and public information on AP3 can be found on our website: www.ap3.se.
Important notice on secrecy: This procurement is governed by Swedish and EU legislation concerning Public
Procurement. Should the applicant require prolonged security (after the procurement is finalized and closed) it
should be specifically stated in the application.

Kompletterande information
Granskningsorgan
Namn: Länsrätten i Stockholm
Postort: Stockholm
Land: Sverige 🇸🇪
Information om tidsfrister för överprövning: Ten days after the official appointment of solution provider(s)
En tjänst där information om omprövningsförfarandet kan erhållas
Namn: Konkurrensverket
Webbadress: http://www.kkv.se 🌏
Källa: OJS 2013/S 036-057413 (2013-02-15)
Meddelande om tilldelning (2014-03-19)
Objekt
Meddelandeinformation
Originalspråk: engelska 🗣️
Dokumenttyp: Meddelande om tilldelning

Förfarande
Förfarandetyp: Konkurrenspräglad dialog
Anbudstyp: Ej tillämpligt

Referens
Datum
Avsändningsdatum: 2014-03-19 📅
Publiceringsdatum: 2014-03-22 📅
Identifierare
Meddelandenummer: 2014/S 058-097930
Refererar till meddelande: 2013/S 36-057413
EUT-S-nummer: 58

Objekt
Plats för genomförandet
Huvudort eller plats för utförandet: Stockholm.

Förfarande
Kriterier för tilldelning
Kriterium: 1. Company and general information (4)
2. Solution overview (4)
3. Risk analysis functionality and instrument coverage (30)
4. User perspective and miscellaneous (11)
5. Interfaces and data management (11)
6. Technical platform (11)
7. Fees and costs (4)
8. System demonstration (15)
9. Reference visit (10)

Tilldelning av kontrakt
Datum för avtalstecknande: 2014-03-14 📅
Namn: MSCI Inc.
Postadress: 7 World Trade Center 250 Greenwich Street
Postort: New York
Postnummer: 10007
Land: USA 🇺🇸
Information om anbud
Antal mottagna anbud: 14

Kompletterande information
En tjänst där information om omprövningsförfarandet kan erhållas
Webbadress: http://www.kkv.se/ 🌏
Källa: OJS 2014/S 058-097930 (2014-03-19)
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