E5.4m to advise PSPF on investments
MBABANE – Riscura Solutions (Pty) Ltd, a Swati/South African company, has been awarded a contract for the provision of investment advisory services to the Public Service Pension Fund (PSPF).
The proposed contract price for this tender is E 5 425 000 per annum/1.75 basic points (bps) of assets under management (AUM). This is according to an intention to award a contract notice published on the Eswatini Public Procurement Regulatory Agency (ESPPRA) website. The contract award decision for the above-cited tender was reached in terms of Section 45 of the Public Procurement Act No. 7 of 2011 (the Act), following a competitive bidding process.
Negotiations
The evaluation was through Technical Quality (Regulation 88), whereby the bidder with the highest-ranked technical proposal is invited for financial negotiations. Riscura Solutions
DETAILS OF ALL TENDERERS
(Pty) Ltd emerged as the best-evaluated bidder after scoring 90 per cent, beating other contestants including 27Four which scored 75.88 per cent. Eswatini Employee Benefit Consultants; Alexander Forbes, Independent Actuaries &Consultants, Mosaic Investment Consulting and three others were rendered technically non-responsive.
It is worth noting that as of March 31, 2023, PSPF had invested 37 per cent (E11.6 billion) of its equities in South Africa (SA). According to the PSPF annual report for the financial year ended March 2023, the funds invested in SA were with Allan Gray, SANLAM Investment Management, ALUWANI Capital Partners, STANLIB Asset
Management Limited, Old Mutual Investment Group, African Alliance and Balondolozi Investment Group.
Assets
PSPF invested 19 per cent of its total portfolio in the offshore market, with STANLIB Global Multi-Manager and Alexander Forbes Jersey.
A total of 45 per cent of the fund’s assets are invested in Eswatini which is higher than the statutory minimum requirement of 30 per cent of the total portfolio set by the Financial Service Regulatory Authority (FSRA).