Norfolk County Council Pension Fund, Norwich, England, will search for providers for its multiprovider framework for stewardship advisory services.
The £3.6 billion ($5 billion) pension fund will lead the search on behalf of a group of other local government pension schemes.
The framework will be split into separate contracts, although the structure is yet to be defined, said a pre-search notice posted on the U.K. government's official procurement website.
The contracts will run for four years. Interested firms should register on Norfolk's procurement website. There is not yet a closing date for applications, an executive at National LGPS Frameworks said. However, executives expect a search to be launched in the fall with the aim of having providers in place by early spring 2022, he said.
The LGPS framework for stewardship services was launched in 2017. Thirteen firms were hired across five contracts: GES International, Glass Lewis, Manifest Information Services, Pensions & Investment Research Consultants and Robeco Institutional Asset Management for voting services; F&C Investments, Ethical Investment Research Services and Hermes Equity Ownership Services for engagement services; F&C, GES, Hermes EOS, PIRC and Robeco for voting and engagement services; Ethical Investment, FTSE Russell, MSCI ESG Research, oekom research and Sustainalytics for stewardship research and data services; and Ethical Investment, Manifest, Mercer, oekom, PIRC and Sustainalytics for stewardship-related project services.
All current providers may rebid, the executive said.