The Annual Management Charge (AMC) quoted must be all-inclusive and be expressed as basis points to four decimal places on Assets under Management (AUM).
Tenderers must confirm that the AMC quoted in the Tender will remain valid for the duration of the 7-year contract with the possible 3-year extension as defined at section 1.4 to 1.6.
The AMC shall be fixed and free from fluctuations in exchange rates and other costs and no price variation shall be allowed for any rise or fall in the cost of labour, service provision etc. for the term of the Contract. An increase in the cost for fund administration, custodians and any other cost howsoever arising shall be borne by the Tenderer.
The AMC shall be charged to each of the Funds provided and deducted from the Net Asset Value (NAV). It is expected that the Investment Management Providers will calculate each of the fund’s AMC, which will be factored into the daily unit price sent to NAERSA (MSP) for each of the funds. No fees or costs may be charged to NAERSA or the Department of Social Protection. Investment Management Providers may not apply a performance-based incentive fee to any of the funds offered in this procurement process.
Tenderers must offer three UCITS funds, with a single Annual Management Charge (AMC) of no more than 10 basis points on Assets under Management (AUM). Tenderers with an AMC of above 10 bps will be disqualified from this competition and the Tender will not be evaluated.