Endowment and cash management back and middle office service
Aalto University is a private, foundation based university in Finland with an investment portfolio of ca. 1 000 000 000 EUR. The portfolio is divided into 2 sub portfolios: i) Endowment portfolio (ca. 900 000 000 EUR) and ii) Liquidity portfolio (ca. 50 000 000 EUR). The purpose of the endowment portfolio is to generate annual funding for the university's operations. The liquidity portfolio comprises the university's operative cash. The endowment has an internal team of 3 investment professionals. The internal team is responsible for all allocation decisions and selection of external asset managers.
All return and risk reporting is currently outsourced. Middle office tasks are divided between external reporting provider and internal team. Back office tasks are handled by the university's internal financial service center. The university's financial reporting is governed by Finnish Accounting Standards and employs the fair value fund method. ETF clearing and custody is outsourced to Danske Bank. Clearing and custody for direct investments (equities and bonds) and derivatives will be outsourced later.
Aalto University is searching for a fully outsourced service for endowment and cash management back and middle office functions. The service provider will produce complete portfolio reporting, investment limit monitoring and accounting for the investment portfolio using portfolio reporting systems. The service and portfolio reporting systems shall be managed and operated by the service provider.
For further information, please see the Invitation to Tender and annexes, available on request at:
kirjaamo@aalto.fi
Please include the following reference number in the request message: D/245/01.01.04.00/2016.
Määräaika
Tarjousten vastaanottamisen määräaika oli 2016-05-23.
Hankinta julkaistiin 2016-04-06.
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