https://ministryofjusticecommercial.bravosolution.co.uk

{
  "id": "028855-2023",
  "tag": [
    "award",
    "contract"
  ],
  "bids": {
    "statistics": [
      {
        "id": "1",
        "value": 3,
        "measure": "bids",
        "relatedLot": "1"
      },
      {
        "id": "2",
        "value": 3,
        "measure": "foreignBidsFromNonEU",
        "relatedLot": "1"
      },
      {
        "id": "3",
        "value": 3,
        "measure": "electronicBids",
        "relatedLot": "1"
      }
    ]
  },
  "date": "2023-09-29T16:14:04+01:00",
  "ocid": "ocds-h6vhtk-0354d4",
  "buyer": {
    "id": "GB-FTS-6365",
    "name": "Ministry of Justice"
  },
  "awards": [
    {
      "id": "028855-2023-1",
      "title": "Lord Chancellor's Common Investment Fund",
      "status": "active",
      "suppliers": [
        {
          "id": "GB-FTS-93909",
          "name": "Legal & General Investment Management Ltd"
        }
      ],
      "relatedLots": [
        "1"
      ]
    }
  ],
  "tender": {
    "id": "ocds-h6vhtk-0354d4",
    "lots": [
      {
        "id": "1",
        "status": "cancelled",
        "hasOptions": false,
        "description": "The CIF contains one product, the Equity Index Tracker Fund, which is for higher value clients. It is based on three underlying funds: Future World UK Equity Index, Future World Developed Equities Index and Global Emerging Markets (L class). The total Fund is split 55%, 35%, 10% among these three vehicles.\nTotal value of the Fund as at 31 March 2022, value circa £95.7m covering circa 4,820,051 units. The Lord Chancellor also manages a range of lower value or shorter term client deposits out with the CIF via deposit accounts currently paying 1.25% - see additional information for further details.\nThe Authority went to market in order to establish whether there may be other suitable investment products for a new arrangement covering both the current CIF funds and also some circa £100m - £200m of the other funds.\nThe aims of the future product within the CIF are to provide relatively secure investment returns (medium to low risk) and capital growth for those with less to invest and/or a shorter term horizon. \nThis might require more than one product to cover the differing needs in terms of shorter term and longer term clients, or providing for clients who may have a need for income as well as capital growth. Protection against capital loss might be achieved via risk mitigation or diversification measures. The risk profile means that passive/index-based approaches to asset classes are expected to be used.\nThe Authority required that companies managing CIF funds be registered in the UK.\nThe estimated value of £350m is a forecast of future needs based on the amount of funds currently being managed inside and outside the existing CIF but which may become subject to a future CIF if suitable products are available.",
        "awardCriteria": {
          "criteria": [
            {
              "name": "Philosophy, Process & Fit",
              "type": "quality",
              "description": "40"
            },
            {
              "name": "Risk & Performance",
              "type": "quality",
              "description": "30"
            },
            {
              "name": "Business & Team",
              "type": "quality",
              "description": "15"
            },
            {
              "name": "Fund Structure",
              "type": "quality",
              "description": "5"
            },
            {
              "name": "Social Value",
              "type": "quality",
              "description": "10"
            },
            {
              "type": "price",
              "description": "20%"
            }
          ]
        }
      }
    ],
    "items": [
      {
        "id": "1",
        "relatedLot": "1",
        "deliveryAddresses": [
          {
            "region": "UK"
          }
        ],
        "additionalClassifications": [
          {
            "id": "79412000",
            "scheme": "CPV",
            "description": "Financial management consultancy services"
          }
        ]
      }
    ],
    "title": "https://ministryofjusticecommercial.bravosolution.co.uk",
    "status": "complete",
    "coveredBy": [
      "GPA"
    ],
    "legalBasis": {
      "id": "32014L0024",
      "scheme": "CELEX"
    },
    "description": "The requirement is for the appointment of an investment manager to manage and control the Lord Chancellor's Common Investment Fund.\nThe purpose of the fund is to provide an investment vehicle for funds in court in England and Wales and separately in Northern Ireland. Funds are held under the jurisdiction of the Official Solicitor and the Public Trustee, and a number of individuals granted permission to invest by the Lord Chancellor.",
    "classification": {
      "id": "66000000",
      "scheme": "CPV",
      "description": "Financial and insurance services"
    },
    "procurementMethod": "open",
    "mainProcurementCategory": "services",
    "procurementMethodDetails": "Open procedure"
  },
  "parties": [
    {
      "id": "GB-FTS-6365",
      "name": "Ministry of Justice",
      "roles": [
        "buyer"
      ],
      "address": {
        "region": "UK",
        "locality": "London",
        "postalCode": "SW1H 9AJ",
        "countryName": "United Kingdom",
        "streetAddress": "102 Petty France"
      },
      "details": {
        "url": "https://www.gov.uk/government/organisations/ministry-of-justice",
        "buyerProfile": "https://ministryofjusticecommercial.bravosolution.co.uk",
        "classifications": [
          {
            "id": "MINISTRY",
            "scheme": "TED_CA_TYPE",
            "description": "Ministry or any other national or federal authority, including their regional or local subdivisions"
          },
          {
            "id": "01",
            "scheme": "COFOG",
            "description": "General public services"
          }
        ]
      },
      "identifier": {
        "legalName": "Ministry of Justice"
      },
      "contactPoint": {
        "email": "CCMDfinancialservices@justice.gov.uk",
        "telephone": "+44 7562433842"
      }
    },
    {
      "id": "GB-FTS-93909",
      "name": "Legal & General Investment Management Ltd",
      "roles": [
        "supplier"
      ],
      "address": {
        "region": "UK",
        "locality": "London",
        "postalCode": "EC2R 5AA",
        "countryName": "United Kingdom",
        "streetAddress": "One Coleman Street"
      },
      "details": {
        "scale": "large"
      },
      "identifier": {
        "legalName": "Legal & General Investment Management Ltd"
      }
    },
    {
      "id": "GB-FTS-70475",
      "name": "Ministry of Justice CCMD",
      "roles": [
        "reviewBody"
      ],
      "address": {
        "locality": "London",
        "postalCode": "SW1H 9EA",
        "countryName": "United Kingdom",
        "streetAddress": "102 Petty France"
      },
      "identifier": {
        "legalName": "Ministry of Justice CCMD"
      }
    }
  ],
  "language": "en",
  "contracts": [
    {
      "id": "028855-2023-1",
      "title": "Lord Chancellor's Common Investment Fund",
      "value": {
        "amount": 1005000,
        "currency": "GBP"
      },
      "status": "active",
      "awardID": "028855-2023-1",
      "dateSigned": "2023-07-14T00:00:00+01:00"
    }
  ],
  "initiationType": "tender"
}

{
  "id": "034960-2022",
  "tag": [
    "tender"
  ],
  "date": "2022-12-09T15:07:21Z",
  "ocid": "ocds-h6vhtk-0354d4",
  "buyer": {
    "id": "GB-FTS-6365",
    "name": "Ministry of Justice"
  },
  "links": [
    {
      "rel": "canonical",
      "href": "https://ministryofjusticecommercial.bravosolution.co.uk"
    }
  ],
  "tender": {
    "id": "ocds-h6vhtk-0354d4",
    "lots": [
      {
        "id": "1",
        "status": "active",
        "renewal": {
          "description": "The contract will be reviewed at least 12 months before the expiry of the contract."
        },
        "hasOptions": false,
        "hasRenewal": true,
        "description": "The CIF currently contains one product, the Equity Index Tracker Fund, which is for higher value clients. It is based on three underlying funds: Future World UK Equity Index, Future World Developed Equities Index and Global Emerging Markets (L class). The total Fund is split 55%, 35%, 10% among these three vehicles.\nTotal value of the Fund as at 31 March 2022, value circa £95.7m covering circa 4,820,051 units. The Lord Chancellor also manages a range of lower value or shorter term client deposits out with the CIF via deposit accounts currently paying 1.25% - see additional information for further details.\nThe Authority wishes to revisit the market in order to establish whether there may be other suitable investment products for a new arrangement covering both the current CIF funds and also some circa £100m - £200m of the other funds.\nThe aims of any future product within the CIF would be to provide relatively secure investment returns (medium to low risk) and capital growth for those with less to invest and/or a shorter term horizon. This might require more than one product to cover the differing needs in terms of shorter term and longer term clients, or providing for clients who may have a need for income as well as capital growth. Protection against capital loss might be achieved via risk mitigation or diversification measures. The risk profile means that passive/index-based approaches to asset classes are expected to be used.\nThe Authority requires that companies managing CIF funds are registered in the UK.\nThe estimated value of £350m is a forecast of future needs based on the amount of funds currently being managed inside and outside the existing CIF but which may become subject to a future CIF if suitable products are available.",
        "contractPeriod": {
          "endDate": "2030-01-31T23:59:59Z",
          "startDate": "2023-02-01T00:00:00Z"
        },
        "submissionTerms": {
          "variantPolicy": "notAllowed"
        }
      }
    ],
    "items": [
      {
        "id": "1",
        "relatedLot": "1",
        "deliveryAddresses": [
          {
            "region": "UK"
          }
        ],
        "additionalClassifications": [
          {
            "id": "79412000",
            "scheme": "CPV",
            "description": "Financial management consultancy services"
          }
        ]
      }
    ],
    "title": "Lord Chancellors Investment Fund",
    "status": "active",
    "coveredBy": [
      "GPA"
    ],
    "bidOpening": {
      "date": "2022-12-30T12:00:00Z"
    },
    "legalBasis": {
      "id": "32014L0024",
      "scheme": "CELEX"
    },
    "awardPeriod": {
      "startDate": "2022-12-30T12:00:00Z"
    },
    "description": "The requirement is for the appointment of an investment manager to manage and control the Lord Chancellor's Investment Fund.\nThe purpose of the fund is to provide an investment vehicle for funds in court in England and Wales and separately in Northern Ireland. Funds are held under the jurisdiction of the Official Solicitor and the Public Trustee, and a number of individuals granted permission to invest by the Lord Chancellor.",
    "tenderPeriod": {
      "endDate": "2022-12-30T12:00:00Z"
    },
    "hasRecurrence": false,
    "classification": {
      "id": "66000000",
      "scheme": "CPV",
      "description": "Financial and insurance services"
    },
    "submissionTerms": {
      "languages": [
        "en"
      ]
    },
    "submissionMethod": [
      "electronicSubmission",
      "written"
    ],
    "procurementMethod": "open",
    "mainProcurementCategory": "services",
    "submissionMethodDetails": "https://ministryofjusticecommercial.bravosolution.co.uk/",
    "procurementMethodDetails": "Open procedure"
  },
  "parties": [
    {
      "id": "GB-FTS-6365",
      "name": "Ministry of Justice",
      "roles": [
        "buyer"
      ],
      "address": {
        "region": "UK",
        "locality": "London",
        "postalCode": "SW1H 9AJ",
        "countryName": "United Kingdom",
        "streetAddress": "102 Petty France"
      },
      "details": {
        "url": "https://www.gov.uk/government/organisations/ministry-of-justice",
        "classifications": [
          {
            "id": "MINISTRY",
            "scheme": "TED_CA_TYPE",
            "description": "Ministry or any other national or federal authority, including their regional or local subdivisions"
          },
          {
            "id": "01",
            "scheme": "COFOG",
            "description": "General public services"
          }
        ]
      },
      "identifier": {
        "legalName": "Ministry of Justice"
      },
      "contactPoint": {
        "url": "https://ministryofjusticecommercial.bravosolution.co.uk/",
        "email": "ccmdfinancialservices@justice.gov.uk",
        "telephone": "+44 02033343555"
      }
    },
    {
      "id": "GB-FTS-70475",
      "name": "Ministry of Justice CCMD",
      "roles": [
        "reviewBody"
      ],
      "address": {
        "locality": "London",
        "postalCode": "SW1H 9EA",
        "countryName": "United Kingdom",
        "streetAddress": "102 Petty France"
      },
      "identifier": {
        "legalName": "Ministry of Justice CCMD"
      }
    }
  ],
  "language": "en",
  "description": "Interested Suppliers are required to register their company details (if not already registered)  on the esourcing portal. https://ministryofjusticecommercial.bravosolution.co.uk in order to obtain tender documents for this opportunity.\nOnce you have an active account go to \"ITT's Open To All Suppliers\" and select ITT_ 6937 to submit your response.\nTenders must be completed on the system only, no email submissions will be accepted.",
  "initiationType": "tender"
}

{
  "id": "020012-2022",
  "tag": [
    "planning"
  ],
  "date": "2022-07-22T13:07:04+01:00",
  "ocid": "ocds-h6vhtk-0354d4",
  "buyer": {
    "id": "GB-FTS-59553",
    "name": "Ministry Of Justice"
  },
  "tender": {
    "id": "ocds-h6vhtk-0354d4",
    "lots": [
      {
        "id": "1",
        "status": "planned",
        "description": "The CIF currently contains one product, the Equity Index Tracker Fund, which is for higher value clients. It is based on three underlying funds: Future World UK Equity Index, Future World Developed Equities Index and Global Emerging Markets (L class). The total Fund is split 55%, 35%, 10% among these three vehicles.\nTotal value of the Fund as at 31 March 2022, value circa £95.7m covering circa 4,820,051 units. The Lord Chancellor also manages a range of lower value or shorter term client deposits out with the CIF via deposit accounts currently paying 1.25% - see additional information for further details.\nThe Authority wishes to revisit the market in order to establish whether there may be other suitable investment products for a new arrangement covering both the current CIF funds and also some circa £100m - £200m of the other funds.\nThe aims of any future product within the CIF would be to provide relatively secure investment returns (medium to low risk) and capital growth for those with less to invest and/or a shorter term horizon. This might require more than one product to cover the differing needs in terms of shorter term and longer term clients, or providing for clients who may have a need for income as well as capital growth. Protection against capital loss might be achieved via risk mitigation or diversification measures. The risk profile means that passive/index-based approaches to asset classes are expected to be used.\nThe Authority requires that companies managing CIF funds are registered in the UK.\nThe estimated value of £350m is a forecast of future needs based on the amount of funds currently being managed inside and outside the existing CIF but which may become subject to a future CIF if suitable products are available.\nIt is envisaged that the term of the contract will be 5 years with provision to extend for a further 2 years (7 years in total)."
      }
    ],
    "items": [
      {
        "id": "1",
        "relatedLot": "1",
        "deliveryAddresses": [
          {
            "region": "UK"
          }
        ],
        "additionalClassifications": [
          {
            "id": "66000000",
            "scheme": "CPV",
            "description": "Financial and insurance services"
          }
        ]
      }
    ],
    "title": "The Lord Chancellor Investment Fund",
    "status": "planned",
    "documents": [
      {
        "id": "economic",
        "documentType": "economicSelectionCriteria"
      },
      {
        "id": "technical",
        "documentType": "technicalSelectionCriteria"
      }
    ],
    "legalBasis": {
      "id": "32014L0024",
      "scheme": "CELEX"
    },
    "description": "The requirement is for the appointment of an investment manager to manage and control the Lord Chancellor's Investment Fund.\nFor the provision of and the management of suitable investment vehicles for funds held in court which are subject to the provision of the Lord Chancellor's Common Investment Fund (CIF)",
    "communication": {
      "futureNoticeDate": "2022-08-26T00:00:00+01:00"
    },
    "contractTerms": {
      "hasElectronicPayment": true,
      "hasElectronicOrdering": true,
      "electronicInvoicingPolicy": "allowed"
    },
    "classification": {
      "id": "66000000",
      "scheme": "CPV",
      "description": "Financial and insurance services"
    },
    "submissionMethod": [
      "electronicSubmission"
    ],
    "mainProcurementCategory": "services",
    "submissionMethodDetails": "https://ministryofjusticecommercial.bravosolution.co.uk"
  },
  "parties": [
    {
      "id": "GB-FTS-59553",
      "name": "Ministry Of Justice",
      "roles": [
        "buyer"
      ],
      "address": {
        "region": "UKE",
        "locality": "Leeds",
        "postalCode": "LS1 4AP",
        "countryName": "United Kingdom",
        "streetAddress": "5 Wellington Place"
      },
      "details": {
        "url": "https://ministryofjustice.gov.uk",
        "buyerProfile": "https://ministryofjusticecommercial.bravosolution.co.uk",
        "classifications": [
          {
            "id": "MINISTRY",
            "scheme": "TED_CA_TYPE",
            "description": "Ministry or any other national or federal authority, including their regional or local subdivisions"
          },
          {
            "id": "01",
            "scheme": "COFOG",
            "description": "General public services"
          }
        ]
      },
      "identifier": {
        "legalName": "Ministry Of Justice"
      },
      "contactPoint": {
        "url": "https://ministryofjusticecommercial.bravosolution.co.uk",
        "name": "Colette Mason",
        "email": "colette.mason@justice.gov.uk"
      }
    },
    {
      "id": "GB-FTS-10940",
      "name": "Ministry of Justice",
      "roles": [
        "reviewBody"
      ],
      "address": {
        "locality": "Leeds",
        "countryName": "United Kingdom"
      },
      "identifier": {
        "legalName": "Ministry of Justice"
      }
    }
  ],
  "language": "en",
  "description": "Under S42 of the Administration of Justice Act 1982 (the Act), the Lord Chancellor may make \"common investment schemes\" establishing common investment funds for the purpose of investing funds in court and money held by any person who is approved by the Lord Chancellor to hold shares in common investment funds.\nThe Equity Index Tracker Fund (EITF) is currently the only investment scheme under the Act. It was established in 2004 by Statutory Instrument (The Common Investment Scheme (SI 2004 No. 266)). \nAccess to the Fund Under the Act, shares in a common investment fund are allotted to and held by the Accountant General of the Senior Courts of England and Wales (on behalf of clients with funds in court); may be allotted to and held by the Accountant General of the Court of Judicature of Northern Ireland, and may be allotted to any other person authorised by the Lord Chancellor (i.e. held in their own name).\nFunds in Court Under the provisions of S38 of the Act, all sums of money, securities and effects paid and deposited in, or under the custody of the High Court; the county court; or such other courts and tribunals as the Lord\nChancellor prescribes are vested in the Accountant General of the Senior Courts of England and Wales or, in Northern Ireland, the Accountant General of Northern Ireland. There is a wide variety of legislation and circumstances that can result in funds being paid into court. Such funds fall into three main categories:\n- (A) Damages awarded to children as a result of civil legal action in the county court in England or Wales or the High Court of Justice. These assets are held on their behalf until the child reaches majority (18 years of age);\n- (B) Assets belonging to people who lack the capacity to manage their own financial affairs where the Court of Protection (CoP) has appointed someone else to manage their affairs;\n- (C) Cases where money is held in court pending settlement of civil court action, or on behalf of dissenting shareholders, widows and other clients whose funds are held under a variety of different statutes.\nOf the funds paid into court, those under (A) and (B) above, who meet the investment criteria, have access to the CIF, along with;\n- Protected beneficiaries (i.e. those who do not require the appointment of a CoP deputy because of the lower value of their fund) ,or\n- those who regain management of their own affairs, or\n- ex- children after they reach 18 and attain their majority.\nChildren who reach majority and those who regain management of their own affairs may choose to transfer their CIF holdings into their own name; however, additional funds cannot be added to the Fund or paid back in if withdrawn.\nPurpose of the Fund\nThe CIF exists to provide an investment vehicle for funds in court. The Fund does not profile individual clients as it is not seeking to meet individual needs. Rather, it is seeking only to provide a reasonable return for all clients.\nThe Fund is not open to the general public.\nLord Chancellor's Governance Arrangements\nResponsibility for oversight of the Fund is managed by the Lord Chancellor's Strategic Investment Board which comprises two non-executive advisors plus senior representatives from the Official Solicitor, the Public Trustee, the Accountant General of the Senior Courts of England and Wales and the Accountant General of Northern Ireland all of whom are responsible for clients who can have their funds invested in the CIF",
  "initiationType": "tender"
}