PBGC_RFP_16PBGC25R0052_Attachment_2a_-_Phase_1_Mandatory_Requirements_Questionnaire.pdf
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- Attached to
- PBGC Active EME Investment Management Services
- Solicitation number
- 16PBGC25R0052
- Issued by
-
Pension Benefit Guaranty Corporation
About this file
This document is a Mandatory Requirements Questionnaire for an Active Emerging Market Equity Investment Management Services Request for Proposal (RFP) issued by the Pension Benefit Guaranty Corporation (PBGC). The questionnaire outlines 11 mandatory requirements for potential investment managers, including SEC registration, willingness to benchmark against the MSCI Emerging Markets Standard Index, offering a commingled fund format, having a GIPS-compliant track record of at least five years, maintaining a minimum of $3 billion in Assets Under Management (AUM), and meeting specific performance metrics such as an information ratio of at least 0.30 and a tracking error between 2.5% and 9.0% over 10 years or since inception.
The document requires offerors to provide supporting documentation for each requirement, such as Form ADV, commingled fund documentation, GIPS composite performance, and tracking error calculations. Additional mandatory conditions include acting as an ERISA fiduciary, submitting only one product for evaluation, and maintaining an active SAM.gov registration. The questionnaire concludes with a certification section where the investment manager must confirm compliance with all mandatory requirements by providing their name, title, organization, and signature.
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ATTACHMENT 2a – MANDATORY REQUIREMENTS QUESTIONNAIRE
ACTIVE EMERGING MARKET EQUITY INVESTMENT MANAGEMENT SERVICES
REQUEST FOR PROPOSAL No. 16PBGC25R0052
FACTOR 1- MANDATORY REQUIREMENTS QUESTIONNAIRE
A.
The Offeror is registered with the SEC as an investment advisor or can provide proof of bank exemption.
SUPPORTING DOCUMENTATION REQUIRED: A link to the complete Form ADV, Parts I and II including all Disclosure Reporting Pages is required here:
☐ Yes
☐ No
B.
The Offeror is willing to benchmark the proposed product against the MSCI Emerging Markets Standard Index (Net).
☐ Yes
☐ No
C.
The proposed product must be offered to PBGC in a commingled fund format acceptable to tax-exempt investors rather than a separate account.
SUPPORTING DOCUMENTATION REQUIRED: Provide a copy of the commingled fund documentation as an attachment.
☐ Yes
☐ No
D.
The proposed strategy must have a GIPS compliant track record of at least five years.
SUPPORTING DOCUMENTATION REQUIRED: List the strategy’s inception date and provide GIPS compliant performance as of December 31, 2024. Full GIPS disclosures are also required.
☐ Yes
☐ No
E.
The Offeror must have a minimum of $3 Billion in AUM in the proposed strategy.
SUPPORTING DOCUMENTATION REQUIRED: Provide the GIPS composite for the proposed strategy as of December 31, 2024.
If the GIPS composite does not confirm a minimum of $3 billion in AUM, please explain.
☐ Yes
☐ No
F.
The proposed product’s rolling 36-month information ratio over the past seven years, or since inception, through December 31, 2024 must be at least 0.30.
SUPPORTING DOCUMENTATION REQUIRED: The acceptable format for calculating the information ratio is included as Attachment 3a and must be presented to show you have met this requirement. The benchmark which the proposed product’s information ratio is presented against must be the MSCI Emerging Markets Equity Index (Net). This
☐ Yes
☐ No benchmark must also be presented with any performance tables required in Volume 2: Technical Proposal.
G.
The proposed product’s tracking error can not exceed 9.0% over 10 years or since inception (whichever is shorter) as of December 31, 2024.
SUPPORTING DOCUMENTATION REQUIRED: List the proposed strategy’s 10 year tracking error (or since inception) as of December 31, 2024.
☐ Yes
☐ No
H.
The proposed product’s tracking error can not be below 2.5% over 10 years or since inception (whichever is shorter) as of December 31, 2024.
SUPPORTING DOCUMENTATION REQUIRED: List the proposed strategy’s 10 year tracking error (or since inception) as of December 31, 2024.
☐ Yes
☐ No
I. The Offeror must act as an ERISA fiduciary under this contract.
☐ Yes
☐ No
J. An Offeror must only submit ONE PRODUCT for PBGC to evaluate.
☐ Yes
☐ No
K.
The Offeror affirms that their SAM.gov registration will be active upon their Phase 2 submission.
☐ Yes
☐ No
The Investment Manager hereby certifies that it meets all the mandatory requirements.
Print Name:________________________________________
Title: _____________________________________________
Organization:______________________________
Signature:________________________________________ Date:________________
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