Official UK procurement notice
Active Multi Asset Investment Manager
Authority: Renfrewshire Council (Local council)
What is being bought
Published requirement descriptionRenfrewshire Council (the Council) acting on behalf of itself and for associated Charities who are seeking to appoint an Active Multi Asset Investment Manager ( hereinafter referred to as the “Investment Manager” or “ Service Provider”) to manage the investments and generate a return which is then distributed to support community projects.
The Investment Manager will manage:
- the Paisley Common Good Fund and the Renfrew Common Good Fund (“Common Good Funds”),
- the Renfrewshire Educational Trust (“Educational Trust”) and
- the Renfrewshire Council Insurance Fund (“Insurance Fund”)
CPV: Banking and investment services
The lotProcurement structure
single lot · no lot value publishedLot #1The Tender Procedure will be conducted in accordance with an above Government…AwardedRenewal
The Tender Procedure will be conducted in accordance with an above Government Procurement Agreement (GPA) Threshold Open Tender procedure relating to a Services Contract.
What it takes to wini
How this buyer will score bids.
The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).
Evaluation split and conditions of participation as published; the tender pack may add morei
How this buyer will score bids.
The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).
Published sub-criteria (11)
- Team: 16%
- Fund Management: 20%
- Risk and Operational Management: 12%
- Turnover: 3%
- Performance Management: 8%
- Relationship Management: 7%
- Discretionary Agreement: 4%
- Set Up: 2%
- Community Benefits: 4%
- Fair Work First: 4%
- price: 20%
Published award criteria (12)
- Cyber Security and Principles: Pass/Fail
- Team: 16
- Fund Management: 20
- Risk and Operational Management: 12
- Turnover: 3
- Performance Management: 8
- Relationship Management: 7
- Discretionary Agreement: 4
- Set Up: 2
- Community Benefits: 4
- Fair Work First: 4
- Price: 20
- Suitability
Tenderers must be registered with the appropriate financial body ie The Financial Conduct Authority and/or the Prudential Regulation Authority part of the Bank of England.
- Economic & financial standing
Minimum level(s) of standards required:
The Council will use a Dun & Bradstreet (D&B) Failure Score of 20 or above.
It is recommended that Tenderer’s review their own D&B Failure Score in advance of submitting their SPD Submission.
If, following this review the Tenderer considers that the D&B Failure Score does not reflect their current financial status; the Tenderer should give an explanation within the SPD Submission, together with any relevant supporting independent evidence i.e. audited accounts.
Where the Tenderer is under no obligation to publish accounts and therefore does not have a D&B Failure Score, they must provide their audited financial accounts for the previous 2 years as part of their SPD Submission in order that the Council may assess these to determine the suitability of the Tenderer to undertake a contract of this size.
Insurances
- Employers Liability – statutory 5 million GBP, each and every claim
- Public Liability – minimum 5 million GBP, each and every claim
- Professional Indemnity - 2 million GBP, each and every claim
- Motor Vehicle ((where a motor vehicle is used in the delivery of the service, eg Contract Management meetings) Third party Motor Vehicle cover (statutory) to be evidenced with a MV certificate in the COMPANY name
OR where there is no company fleet and employees use their own vehicles instead, a letter signed by a person of appropriate authority confirming that the provider has ongoing arrangements in place to ensure that employees' ve…
- Technical & professional ability
Tenderers will be required to provide examples that demonstrate that they have the relevant experience to deliver these services
Tenderers will be required to confirm whether they intend to subcontract, and if so, for what proportion of the contract.
- Staff
- Names and qualifications of delivery staff must be submitted
- Price carries 20 of 100 points: a 10% discount moves about 2 points. The method statement decides this lot, not the discount.
Price arithmetic assumes straight proportional scoring; the tender pack may use another formula.
Procedure terms & legal framework
From the official record · publisher note attached- Procedure method
- Open procedure
- Legal basis
- CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
- Procurement category
- Services
- Notice status
- Awarded
- Procurement threshold
- Unspecified in notice
- Regulatory regime
- Standard
- Commercial structure
- Stand-alone contract (no framework)
- Competition type
- Competitive procedure
- GPA / WTO covered
- Yes (GPA)
- Recurring procurement
- No (one-off requirement)
- First published
- 5 Mar 2024, 12:29 GMT
- Last source update
- 7 Oct 2024, 14:58 BST
- Award evaluation window
- 5 Apr 2024 – …
- Authority reference
RC-CPU-23-222- FTS notice number
2024/S 000-032090- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-044590Find a Tender
- Electronic trading
- e-invoicing allowed · electronic ordering · electronic payment
- Performance terms
Tenderers must be registered with the appropriate financial body ie The Financial Conduct Authority and/or the Prudential Regulation Authority (as appropriate)
- Review procedure
An economic operator that suffers or risks suffering, loss or damage attributable to breach of duty under the Public Contracts (Scotland) Regulations 2015 (SSI 2015/446, as amended) may bring proceedings in the Sheriff Court or the Court of Session in accordance with Regulation 88 of the 2015 Regulations.
Publisher note: (SC Ref:779635)
How it was run
Official noticeTender documents are also served through a separate tool: http://www.publictendersscotland.publiccontractsscotland.gov.uk/ ↗
- Submission deadline
- 5 Apr 2024, 12:00 BST
- Submission channel
- {"electronicSubmission"}
- Accepted languages
- en
- Bids opened
- 5 Apr 2024, 12:30 BST
Timeline
5 Apr 2024 → 7 Oct 2024 · 3 dates- Submission deadline5 Apr 2024, 12:00 BST
- Bids opened5 Apr 2024, 12:30 BST
- Notice published7 Oct 2024, 14:58 BST
Notice history
1 event · 2 releases on Find a Tender- Status changed to complete7 Oct 2024, 14:58 BST
Commercial outcome & contract awards
Published awards, contracts and bid statistics, not a forecast| Awarded to | Value | Date | Status |
|---|---|---|---|
| LGT Wealth Management | £698,610 † | — | Awarded |
Contracts
Contract 032090-2024-RC-CPU-23-222 Active Multi Asset Investment Manager-1 · LGT Wealth Management
- Signed
- 26 Sept 2024
- Value
- £698,610
- Status
- active
Bid statistics published by the authority
| Bids | SME | VCSE | Valid bid range |
|---|---|---|---|
| 5bids · 5 electronic · 5 from abroad | 0 | — | — |
Contracting authority & participating public bodies
Dispute resolution & review bodies
- See VI.4.3 belowReview body
Bidders & participating suppliers
1 commercial party on the notice- LGT Wealth ManagementAwarded supplier
Official documents & specifications
Official links; attachments are not copiedNo document links were published on the notice.