Acquisition of financial management services in Riveria by the North Karelia joint municipal authority for education

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The Riveria joint municipal authority for education and training in North Karelia requests offers for full power of attorney for investment in shares and interest rates, in accordance with the invitation to tender and its annexes. Riveria’s joint municipal authority for education in North Karelia has assets of approximately EUR 20 million. The call for tenders includes approximately EUR 20 million. In order to manage this asset, three asset managers will be sought through a tender for equity, interest-rate investments, which means that the outsourced portfolio will be approximately EUR 6.7 million per asset manager. The contracts are of indefinite duration. The selected service providers do not have the exclusive right to provide the services that are the subject of the procurement. At a later stage, the investor reserves the right to increase or reduce the investment assets held by asset managers. In the procurement procedure, tenders must be submitted within the limits allowed by the investment plan attached as Annex 1 to the invitation to tender. The measures and procedures of the start-up phase are negotiated separately with the service providers at the time of the conclusion of the contract, in which case the contract to be concluded with the selected fund managers will determine the period during which the investment policy agreed in the framework will be complied with. The objective of Riveria, the joint municipal authority for education in the north of Karelia, is to ensure a high-quality, accountable and competitive asset management in line with the principles of asset management. The treasurer reports monthly to Riveria, the regional authority for education and training in North Karelia, on the financial management in accordance with the investment plan. The contract shall enter into force six months after the submission of the tender or at the time when the award decision has become final. Riveria is a professional investor at the time of the tendering procedure.

66140000 - Portfolio management services