Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697807528653.pdf (India)
( @l offirwAqrfuIq ( nc lri +q{R d?rdq, qr{d€r6rq EMPLOYEES' STATE INSURANCE CORPORATION (MhBtry of labour & Emptoym€trr, Govt.

of hdjr) File No:- F-23h9/U2OtO-A/c )t qTAq rrdn, {.

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q. cd, r{ ffi, rrooo: PANCHOEEP SHAWAN.
C.I.G IUARG NEW DELHI.I1OOO2 Phone: 011- 23234336 Emait: id-2raDesic oic.in \4,bbsite: wwv.esic.nic.in i yu!rcgqil I Date - 2OlO7 /2022 Subject:- Respo nse to queries raised by the intedning applicants against Request for proposal (RFp) for Appointment of Consultont for selection of portfolio Monogers, Custodidn and Concurrent Auditor of ESIC ond for Monitorinq ond Performance Evol.uotion of Portfolio Monoqers aAainst Tender lD N o.2022 ESIC 698834 1 dated 05/07/2022 S. No.

1, Reference (page no.


; section; sub-section and sub- Page no.4, Point no.6 int Content of RFP requiring clarification Point of clarification required ESIC Response/ Reply To consider amendment in pre-qualification and technical scoring criteria and Bive adequate weightage to evaluation of custodian and auditors Consultant will be required to monitor the performance of the portfolio Managers and not the performance of Custodian and ECA.
Hence, There is no changes in Pre-qualification and Technical criteria.

Th carries e scope of work highlighting Outline of the Task to be out: Preparation of Request for proposal (RFp) and in evaluating the Technical and Financial Bids for selection of Portfolio Managers, Custodian and Concurrent Auditor.

Monitoring the performance of the portfolio Managers.

Advising in-house lnvestment Committee of ESIC as and when required (normally on quarterly basis).
Conducting full-day training to EStC officials twice in a year.

Providing research-based assistance to ESIC.

a) b) c) d) e) 2 Page no.4, Point no.

10 e) Bidder should be experienced in selection of investment ortfolio ma rs.

W ( 3 Page no.

1, Point no.

1 f) Bidder should be experienced in evaluating performance of investment portfolio / investment portfolio managers.
g) The Bidder should have in-house expertise in rating of financial instruments or valuation of financial instruments or designing and creation of benchmark indices.
The ESIC invites erectronrc Requests for proposal comprising three separate proposals that include pre- Qualification Information, Technical proposal and Financial Proposal from Firms/Credit Rating Agencies/its wholly owned subsidiary or holding company (herelnafter called 'Bidder') registered with SEBI and having minimum ten years of experience of operation in lndia for appointment as Consultant as per the scope of work mentioned hereafter.
4 Page no.5, Point no.13 The Bidder should be duly registered with SEB I.

The Bidder should have minimum 10 (ten) years of experience of operations in lndia.

The Bidder should have never been disqualified by SEBt.

The Bidder should have profit track record for the last 5 years.

Bidder should be experienced in selection of investment portfolio managers.

Bidder should be experienced in evaluating performance of investment portfolio / investment portfolio managers.
The Bidder should have in-house expertise in b. d. L 9.

\o 1. lf the bidder is a Wholly Owned Subsidiary of a Credit Rating Agency and the Credit Rating Agency (CRA) is registered with SEBt, will the WOS (who is not having the SEBl registration) be eligible for participation?

ity by the Parent company of the wholly Eligibil owned subsidiary or holding company will be considered.

Sufficient documentary proof in this regard should be attached mandatorily.
2. lf the bidder is having less than 10 years' experience (but the parent, CRA, is having the required experience, can the WOS participate in the bidding process?

3. ls the profit track record for the last 5 years is pertinent to the CRA or its WOS?

4.

Experience regarding rating offinancial instruments or valuation of financial instruments etc.
are done by the CRA, whereas the bidder is the advisory arm and subsidiary of the CRA Hence, please clarifli whether the experience of the CRA will fulfill this condition?

( h. rating of financial instruments or valuation of financial instruments or designing and creation of benchmark indices.

The Bidder should have minimum on-roll staff of 20 people working in the area of funds research, valuation and indices.

Out of these, at least 10 should be financial ana lysts.
5 Page no.23, Annexure F Activities to be carried :- 6 Page no.7, Point no.
L5 1) Preparation of Request for proposal (RFp) evaluatlng the Technical and Financial Bids appointment of portfolio Managers, Custodian Concurrent Auditor (oNE TtME EXERCTSE) and for and 2) Monitoring the performance of the portfolio Managers, Advising in-house lnvestment Committee of ESIC as and when required (normally on quarterly basis), Conducting full-day training to ESIC officials twice in a year and providing research based assistance to ESIC.
RECURRING The Financial Bid shall be inclusive of all expenses including local conveyance, however taxes applicable will be borne by ESIC as per rule.

Out station travelling expenses shall be paid on actual basis and Boarding & Lodging expenses shall be paid as per the rules applicable in ESIC for the officers drawing the pay in level 11 ,or, actual, whichever is less.
\"- \, For both the one time exercise and for the recurring exercise (3 years- Advising lnvestment committee on quarterly basis / half yearly training)- quotes to be made for each of the activities separately or is it consolidated?

Specified format has been given in Cpp portal for quoting rate in Financial proposal for both the activities separately.

Out of Pocket expenses will be borne on actual basis.
Out station travelling expenses shall be paid on actual basis and Boarding & Lodging expenses shall be paid as per the rules applicable in ESIC for the officers drawing the pay in level 11 ,or, actual, whichever is less.

V, Oirector (Finance)