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AwardedFind a Tender · award

Fiduciary Management

Buyer: General Medical Council (GMC) →

BuyerGeneral Medical Council (GMC)
StatusAwarded
DeadlineNot published
ValueValue not published
Published28 Oct 2022

What is being bought

The Trustees have appointed a Fiduciary Manager. The trustees set the overall investment strategy (including the long term risk and return objectives) and then delegate investment decisions and day-to-day running of the portfolio to their fiduciary manager. The FM arrangement has been in place since 2014. The FM monitor will be required to provide a third party evaluation of the Fiduciary Manager.

Delivery location

UK

Categories

Banking and investment services 66100000Banking and investment services 66100000

Lot details

Lot 1

The Trustees have appointed a Fiduciary Manager. The trustees set the overall investment strategy (including the long term risk and return objectives) and then delegate investment decisions and day-to-day running of the portfolio to their fiduciary manager. The FM arrangement has been in place since 2014. The FM monitor will be required to provide a third party evaluation of the Fiduciary Manager.

Statuscancelled

Award criteria
Annual Reporting — 24.5
Mid Year Reporting — 17.5
Ethical, Social & Governance Reporting — 7
Meeting Support & Training — 14
Triennial Review/Internal Control Framework — 7
Price — 25.5
T&Cs — 3
EDI — 1.5

What is included

ItemCategoryQuantity
1Banking and investment servicesNot published

Comparable-procurement analytics

Benchmarked against retained Find a Tender procedures with CPV division 66. The category anchor is Banking and investment services (66100000); this is a deliberately broad market comparator. The comparison is shown at several levels rather than pretending one company or region is always the best benchmark.

Comparison setProceduresReported bids per procedureNamed award suppliersPrice evidence
Market: CPV division 662,7583 median · 17.2 average (1,185 of 2,758 with a bid count)2.5 average (1,317 of 2,758 with named award suppliers)Not published
Same buyer63 median · 3.4 average (5 of 6 with a bid count)1 average (5 of 6 with named award suppliers)Not published
Delivery region: UK8945 median · 28.2 average (349 of 894 with a bid count)3.3 average (388 of 894 with named award suppliers)Not published

“Reported bids” is an official aggregate, sometimes reported per lot; it is the closest available competition measure. “Named award suppliers” are winners, not all applicants.

Price-outcome signal

Not enough comparable procedures currently publish both a GBP tender value and a usable lowest-valid-bid value to calculate a responsible price-reduction benchmark. Tenderline deliberately does not infer a saving from named award suppliers or from missing award values.

Procurement strategy & market signals

Framework agreementNot published
Dynamic purchasing systemNot published
Competitive procurementNot published
Recurring requirementNot published
Procurement method rationaleNot published
Rationale classificationsNot published
Special regimeNot published
Covered byGPA
Submission policyNot published
Selection criteriaNot published
Risk detailsNot published

Planning & early market engagement

BudgetNot published
No-engagement rationaleNot published
Planning documents0
Planning milestones0

No planning milestones published.

Related procurements

No linked framework, prior procurement or reprocurement published.

Awards

Contracts

030480-2022-GMC1611-1

Statusactive
Value£283,000

Documents & submission route

No documents are published in the current source record.

Source data inventory

Diagnostic view. “Not published” means this current release does not provide a value.

OCIDocds-h6vhtk-037d21
Latest release ID030480-2022
Latest release timestampFri Oct 28 2022 10:11:26 GMT+0000 (Coordinated Universal Time)
Sourcefind-a-tender
Official notice URLNot published
Tender statuscomplete
Procurement methodopen
Procurement method detailsOpen procedure
Main procurement categoryservices
Above thresholdNot published
Legal basis32014L0024
Tender period: startNot published
Tender period: endNot published
Expression of interest deadlineNot published
Enquiry deadlineNot published
Award period: startNot published
Award period: endNot published
Submission method detailsNot published
Submission languagesNot published
Electronic catalogue policyNot published
Total tender valueNot published
Tender lots in source1
Tender items in source1
Tender documents in source0
Awards in latest release1
Contracts in latest release1
Parties in latest release3

Notice history

DateEventReference
28 Oct 2022award, contract030480-2022

All source data

Unmodified official OCDS data retained by Tenderline for this procurement process.

Complete current OCDS release JSON
{
  "id": "030480-2022",
  "tag": [
    "award",
    "contract"
  ],
  "bids": {
    "statistics": [
      {
        "id": "1",
        "value": 4,
        "measure": "bids",
        "relatedLot": "1"
      },
      {
        "id": "2",
        "value": 1,
        "measure": "smeBids",
        "relatedLot": "1"
      },
      {
        "id": "3",
        "value": 4,
        "measure": "foreignBidsFromEU",
        "relatedLot": "1"
      },
      {
        "id": "4",
        "value": 0,
        "measure": "foreignBidsFromNonEU",
        "relatedLot": "1"
      },
      {
        "id": "5",
        "value": 4,
        "measure": "electronicBids",
        "relatedLot": "1"
      }
    ]
  },
  "date": "2022-10-28T11:11:26+01:00",
  "ocid": "ocds-h6vhtk-037d21",
  "buyer": {
    "id": "GB-FTS-1070",
    "name": "General Medical Council (GMC)"
  },
  "links": [
    {
      "rel": "prev",
      "href": "https://ted.europa.eu/udl?uri=TED:NOTICE:226254-2022:TEXT:EN:HTML"
    }
  ],
  "awards": [
    {
      "id": "030480-2022-GMC1611-1",
      "status": "active",
      "suppliers": [
        {
          "id": "GB-FTS-67004",
          "name": "XPS Pensions Group"
        }
      ],
      "relatedLots": [
        "1"
      ]
    }
  ],
  "tender": {
    "id": "GMC1611",
    "lots": [
      {
        "id": "1",
        "status": "cancelled",
        "hasOptions": false,
        "description": "The Trustees have appointed a Fiduciary Manager. The trustees set the overall investment strategy (including the long term risk and return objectives) and then delegate investment decisions and day-to-day running of the portfolio to their fiduciary manager. The FM arrangement has been in place since 2014. The FM monitor will be required to provide a third party evaluation of the Fiduciary Manager.",
        "awardCriteria": {
          "criteria": [
            {
              "name": "Annual Reporting",
              "type": "quality",
              "description": "24.5"
            },
            {
              "name": "Mid Year Reporting",
              "type": "quality",
              "description": "17.5"
            },
            {
              "name": "Ethical, Social & Governance Reporting",
              "type": "quality",
              "description": "7"
            },
            {
              "name": "Meeting Support & Training",
              "type": "quality",
              "description": "14"
            },
            {
              "name": "Triennial Review/Internal Control Framework",
              "type": "quality",
              "description": "7"
            },
            {
              "name": "Price",
              "type": "cost",
              "description": "25.5"
            },
            {
              "name": "T&Cs",
              "type": "cost",
              "description": "3"
            },
            {
              "name": "EDI",
              "type": "cost",
              "description": "1.5"
            }
          ]
        }
      }
    ],
    "items": [
      {
        "id": "1",
        "relatedLot": "1",
        "deliveryAddresses": [
          {
            "region": "UK"
          }
        ],
        "additionalClassifications": [
          {
            "id": "66100000",
            "scheme": "CPV",
            "description": "Banking and investment services"
          }
        ]
      }
    ],
    "title": "Fiduciary Management",
    "status": "complete",
    "coveredBy": [
      "GPA"
    ],
    "legalBasis": {
      "id": "32014L0024",
      "scheme": "CELEX"
    },
    "description": "The Trustees have appointed a Fiduciary Manager. The trustees set the overall investment strategy (including the long term risk and return objectives) and then delegate investment decisions and day-to-day running of the portfolio to their fiduciary manager. The FM arrangement has been in place since 2014. The FM monitor will be required to provide a third party evaluation of the Fiduciary Manager.",
    "classification": {
      "id": "66100000",
      "scheme": "CPV",
      "description": "Banking and investment services"
    },
    "procurementMethod": "open",
    "mainProcurementCategory": "services",
    "procurementMethodDetails": "Open procedure"
  },
  "parties": [
    {
      "id": "GB-FTS-1070",
      "name": "General Medical Council (GMC)",
      "roles": [
        "buyer",
        "centralPurchasingBody"
      ],
      "address": {
        "region": "UK",
        "locality": "Manchester",
        "postalCode": "M3 3AW",
        "countryName": "United Kingdom",
        "streetAddress": "3 Hardman Street"
      },
      "details": {
        "url": "http://www.gmc-uk.org",
        "buyerProfile": "https://www.mytenders.co.uk/search/Search_AuthProfile.aspx?ID=AA19541",
        "classifications": [
          {
            "scheme": "TED_CA_TYPE",
            "description": "Regulator"
          },
          {
            "id": "07",
            "scheme": "COFOG",
            "description": "Health"
          }
        ]
      },
      "identifier": {
        "legalName": "General Medical Council (GMC)"
      },
      "contactPoint": {
        "email": "gmctenders@gmc-uk.org",
        "telephone": "+44 1619236340"
      }
    },
    {
      "id": "GB-FTS-67004",
      "name": "XPS Pensions Group",
      "roles": [
        "supplier"
      ],
      "address": {
        "region": "UKI3",
        "locality": "LONDON",
        "postalCode": "WC2N 5HR",
        "countryName": "United Kingdom",
        "streetAddress": "11 Strand"
      },
      "details": {
        "scale": "large"
      },
      "identifier": {
        "legalName": "XPS Pensions Group"
      },
      "contactPoint": {
        "telephone": "+44 2080597632"
      }
    },
    {
      "id": "GB-FTS-103",
      "name": "Public Procurement Review Service",
      "roles": [
        "reviewBody"
      ],
      "address": {
        "locality": "London",
        "countryName": "United Kingdom",
        "streetAddress": "Cabinet Office"
      },
      "details": {
        "url": "https://www.gov.uk/government/publications/public-procurement-review-service-scope-and-remit"
      },
      "identifier": {
        "legalName": "Public Procurement Review Service"
      },
      "contactPoint": {
        "email": "publicprocurementreview@cabinetoffice.gov.uk",
        "telephone": "+44 3450103503"
      }
    }
  ],
  "language": "en",
  "contracts": [
    {
      "id": "030480-2022-GMC1611-1",
      "value": {
        "amount": 283000,
        "currency": "GBP"
      },
      "status": "active",
      "awardID": "030480-2022-GMC1611-1",
      "dateSigned": "2022-07-28T00:00:00+01:00"
    }
  ],
  "description": "(MT Ref:227789)",
  "initiationType": "tender"
}
Complete JSON history (1 releases)
28 Oct 2022 · 030480-2022 · award, contract
{
  "id": "030480-2022",
  "tag": [
    "award",
    "contract"
  ],
  "bids": {
    "statistics": [
      {
        "id": "1",
        "value": 4,
        "measure": "bids",
        "relatedLot": "1"
      },
      {
        "id": "2",
        "value": 1,
        "measure": "smeBids",
        "relatedLot": "1"
      },
      {
        "id": "3",
        "value": 4,
        "measure": "foreignBidsFromEU",
        "relatedLot": "1"
      },
      {
        "id": "4",
        "value": 0,
        "measure": "foreignBidsFromNonEU",
        "relatedLot": "1"
      },
      {
        "id": "5",
        "value": 4,
        "measure": "electronicBids",
        "relatedLot": "1"
      }
    ]
  },
  "date": "2022-10-28T11:11:26+01:00",
  "ocid": "ocds-h6vhtk-037d21",
  "buyer": {
    "id": "GB-FTS-1070",
    "name": "General Medical Council (GMC)"
  },
  "links": [
    {
      "rel": "prev",
      "href": "https://ted.europa.eu/udl?uri=TED:NOTICE:226254-2022:TEXT:EN:HTML"
    }
  ],
  "awards": [
    {
      "id": "030480-2022-GMC1611-1",
      "status": "active",
      "suppliers": [
        {
          "id": "GB-FTS-67004",
          "name": "XPS Pensions Group"
        }
      ],
      "relatedLots": [
        "1"
      ]
    }
  ],
  "tender": {
    "id": "GMC1611",
    "lots": [
      {
        "id": "1",
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        "hasOptions": false,
        "description": "The Trustees have appointed a Fiduciary Manager. The trustees set the overall investment strategy (including the long term risk and return objectives) and then delegate investment decisions and day-to-day running of the portfolio to their fiduciary manager. The FM arrangement has been in place since 2014. The FM monitor will be required to provide a third party evaluation of the Fiduciary Manager.",
        "awardCriteria": {
          "criteria": [
            {
              "name": "Annual Reporting",
              "type": "quality",
              "description": "24.5"
            },
            {
              "name": "Mid Year Reporting",
              "type": "quality",
              "description": "17.5"
            },
            {
              "name": "Ethical, Social & Governance Reporting",
              "type": "quality",
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            },
            {
              "name": "Meeting Support & Training",
              "type": "quality",
              "description": "14"
            },
            {
              "name": "Triennial Review/Internal Control Framework",
              "type": "quality",
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            },
            {
              "name": "Price",
              "type": "cost",
              "description": "25.5"
            },
            {
              "name": "T&Cs",
              "type": "cost",
              "description": "3"
            },
            {
              "name": "EDI",
              "type": "cost",
              "description": "1.5"
            }
          ]
        }
      }
    ],
    "items": [
      {
        "id": "1",
        "relatedLot": "1",
        "deliveryAddresses": [
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          {
            "id": "66100000",
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            "description": "Banking and investment services"
          }
        ]
      }
    ],
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    "coveredBy": [
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    "legalBasis": {
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    },
    "description": "The Trustees have appointed a Fiduciary Manager. The trustees set the overall investment strategy (including the long term risk and return objectives) and then delegate investment decisions and day-to-day running of the portfolio to their fiduciary manager. The FM arrangement has been in place since 2014. The FM monitor will be required to provide a third party evaluation of the Fiduciary Manager.",
    "classification": {
      "id": "66100000",
      "scheme": "CPV",
      "description": "Banking and investment services"
    },
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  },
  "parties": [
    {
      "id": "GB-FTS-1070",
      "name": "General Medical Council (GMC)",
      "roles": [
        "buyer",
        "centralPurchasingBody"
      ],
      "address": {
        "region": "UK",
        "locality": "Manchester",
        "postalCode": "M3 3AW",
        "countryName": "United Kingdom",
        "streetAddress": "3 Hardman Street"
      },
      "details": {
        "url": "http://www.gmc-uk.org",
        "buyerProfile": "https://www.mytenders.co.uk/search/Search_AuthProfile.aspx?ID=AA19541",
        "classifications": [
          {
            "scheme": "TED_CA_TYPE",
            "description": "Regulator"
          },
          {
            "id": "07",
            "scheme": "COFOG",
            "description": "Health"
          }
        ]
      },
      "identifier": {
        "legalName": "General Medical Council (GMC)"
      },
      "contactPoint": {
        "email": "gmctenders@gmc-uk.org",
        "telephone": "+44 1619236340"
      }
    },
    {
      "id": "GB-FTS-67004",
      "name": "XPS Pensions Group",
      "roles": [
        "supplier"
      ],
      "address": {
        "region": "UKI3",
        "locality": "LONDON",
        "postalCode": "WC2N 5HR",
        "countryName": "United Kingdom",
        "streetAddress": "11 Strand"
      },
      "details": {
        "scale": "large"
      },
      "identifier": {
        "legalName": "XPS Pensions Group"
      },
      "contactPoint": {
        "telephone": "+44 2080597632"
      }
    },
    {
      "id": "GB-FTS-103",
      "name": "Public Procurement Review Service",
      "roles": [
        "reviewBody"
      ],
      "address": {
        "locality": "London",
        "countryName": "United Kingdom",
        "streetAddress": "Cabinet Office"
      },
      "details": {
        "url": "https://www.gov.uk/government/publications/public-procurement-review-service-scope-and-remit"
      },
      "identifier": {
        "legalName": "Public Procurement Review Service"
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      "awardID": "030480-2022-GMC1611-1",
      "dateSigned": "2022-07-28T00:00:00+01:00"
    }
  ],
  "description": "(MT Ref:227789)",
  "initiationType": "tender"
}