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Government of Pakistan

Establishment Division
Federal Employees Benevolent Fund and Group Insurance (FEB & GIF)
Tender Notice: Call for Expressions of Interest (EOI)
For Professional Investment Advisory Services

The Federal Employees Benevolent Fund and Group Insurance (FEB & GIF) invites Expressions of Interest (EOI) from reputed and experienced Investment Advisory Companies (IACs) to provide Non-Discretionary Portfolio Management Services under the following terms and guidelines:

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Eligibility Criteria

Interested Investment Advisory Companies must fulfill the following requirements:

1. SECP License: The company must possess a valid license from the Securities and Exchange Commission of Pakistan (SECP) to provide investment advisory services.

2. Proven Track Record: A minimum of 5 years' experience in managing mutual funds, and discretionary and non-discretionary portfolios.

3. Research Capabilities: The company should maintain an in-house research team of qualified professionals (preferably CFAs), capable of analyzing and advising on various investment avenues including fixed income securities, equities, debt instruments, and real estate opportunities.

4. Rating Requirement: The advisory company should have a minimum AMC rating of AM2, and must provide a valid Investment Advisory or Asset Management Quality Rating issued by an SECP-approved rating agency.

5. Outsourcing Clause: If the advisory company is not authorized for real estate investments or any other specific service under this tender, it may outsource such services at its own expense, subject to approval from FEB & GIF.

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Selection Process

The selection will be based on the Quality and Cost Based Selection (QCBS) method in accordance with:

• Rule 36(b) of PPRA Rules, 2004

• Regulation 3(B) of the Procurement of Consultancy Services Regulations, 2010

The key objectives of the consultancy include:

• Initial evaluation of existing investment portfolios

• Periodic review and analysis of investment policies (on a quarterly basis)

• Recommendations and analysis of specific investment cases as required

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Submission Guidelines

• Interested firms must submit their EOIs online through the EPADS/PPRA portal (mandatory).

• The deadline for submission is June 12, 2025, at or before 11:30 AM.

• EOIs will be opened at 12:00 noon on the same day in the presence of authorized representatives of the bidding firms.

• Firms will be evaluated based on criteria outlined in the EOI document. Shortlisted bidders will then be invited to submit Technical and Financial Proposals through an RFP document.

• A pre-bid meeting may also be organized to clarify the technical requirements of the project.

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Contract Terms

• The initial contract duration is two (2) years, extendable by one (1) additional year based on satisfactory performance and mutual consent.

• Either party may terminate the contract by providing a two-month prior notice in writing.

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Right to Reject

FEB & GIF reserves the right to accept or reject any or all proposals at any time before awarding the contract, in line with PPRA Rules, 2004, without assigning any reason.

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Contact Information

Muhammad Saleem
Deputy Director (Investment)
Federal Employees Benevolent Fund and Group Insurance (FEB & GIF)
Block A-1, Benevolent Fund Building, Shahrah-e-Suharwardy, Zero Point, Islamabad
Phone: 051-9252387
Email: febgif2035@gmail.com

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