On the go: Norfolk County Council, acting on behalf of its own circa £3.6bn pension fund and a number of other UK Local Government Pension Schemes, has announced an extension to the duration of the National LGPS investment consultancy framework as a result of the Covid-19 pandemic.
The framework, which consists of three lots, has been extended for an additional year and will now expire on October 31 2022, a notice on the Official Journal of the European Union explained.
The maximum duration of contracts let under the framework remains unchanged at seven years. The contracts were extended due to the unforeseen nature of the Covid-19 pandemic.
The companies for the framework were first appointed in December 2017.
For lot one, investment consultancy services, the providers are Aon Hewitt, Deloitte Total Reward and Benefits Limited, Hymans Robertson, Isio, Mercer Investment Consulting, PwC and Redington.
The companies for lot two, which are for manager search, selection, monitoring and review services, are MJ Hudson Allenbridge, Aon Hewitt, bfinance, Hymans Robertson, Isio, Mercer and Redington.
Finally for lot three, investment management consultancy-related specialist services, the providers are MJ Hudson Allenbridge, Alpha Financial Markets Consulting, Aon Hewitt, bfinance, Hymans Robertson, Isio, Mercer, PwC and Redington.
Further information about the framework can be found on the National LGPS Frameworks website.
This is not the first LGPS framework that has been extended this year as a result of the pandemic. In May, Norfolk Council revealed that the investment management performance and cost monitoring and reporting services framework would also be extended by an additional 12 months.
Furthermore, at the end of June, the council issued a prior information notice outlining its intention to seek stewardship advisory services for another framework that has been extended for 12 months, until October 2021, again as a result of the pandemic.
This article originally appeared on MandateWire.com
