Official UK procurement notice
Investment Management Solution & related professional services for the National Wealth Fund Limited
Authority: National Wealth Fund Limited (Public body)
What is being bought
Published requirement descriptionAward of the contract for the Investment Management Solution and related professional services for the National Wealth Fund Limited.
The contract is for an initial 5 year period, commencing on the date the services go live with optional extension options for a further 2+2+1 (total of 5) years (i.e., total contract term of 10 years).
The total contract value, including the extension options, is £15,600,000 including VAT.
- How the procedure runs: This procurement will include multiple tendering rounds. NWF reserves the right not to proceed to a specific round of the tendering process at its discretion in accordance with the tender documentation. Round 1 - Submission of conditions of participation and initial tender. Tenderers may be invited as part of Round 1to offer presentations of their proposed Solution to NWF. Shortlisted Tenderers shall then progress to the next round based upon the award criteria provided in Appendix 5 - the Tender Assessment Document. Round 2 - Invitation to negotiate and dialogue through a combination of workshops, demonstrations, calculation veracity and/or potential sandbox activity before submission of an updated Tender response. Clarification and evaluation of updated Tender responses. Round 3 - a further negotiation and dialogue stage which will focus on updating the implementation, commercial and Contract response only with the Shortlisted Tenderers or the top scoring two tenderers only. Notification of outcome to Tenderers. NWF recognises that some Tenderers may not be familiar with public procurement procedures and therefore NWF will make available a number of meeting slots for one to one meetings with Tenderers to address any queries on the procurement process and NWF's requirements for a valid tender. Any additional information provided in such meetings will be circulated to all Tenderers. Any Tenderer that wishes to book a slot (which are available on a first come first served basis) should contact procurement via the Atamis Portal before Monday 19th January 2026. Such meeting shall be no more than 30 minutes. Upon written notice, as detailed in the tender documentation, Tenderers may submit a variant bid, provided they meet the minimum requirements set out in the tender documents and have received prior approval for the proposed variant bid from NWF as set out in the Invitation to Tender. Suppliers are limited to only one alternative/variant proposal. Each tender will be evaluated independently in accordance with the evaluation criteria. Tenderers must clearly identify each submission and ensure compliance with all instructions in the Invitation to Tender. NWF will only appoint one supplier as part of the tender process. NWF has a preference to use its own contract terms in a Letter of Appointment. NWF reserves the right to amend the terms of the Letter of Appointment (Appendix 4 of the ITT) during the tender process. Following round 2, a pass/fail assessment will be applied to determine whether the supplier's proposed contractual terms are acceptable for progression in the procurement process. It is anticipated that the procurement shall include negotiation. This will take place with Shortlisted Tenderers after round 1 who remain in the process. The number of suppliers progressing to Round 2 will be no more than 5 suppliers with a minimum of 3 suppliers (unless there are a lower number of compliant proposals or a tie-break situation develops). If this occurs NWF may take forward less than 3 suppliers or more than 5 suppliers. Round 3, if used, may shortlist down to a maximum of two suppliers. The criteria for deciding which suppliers and the number of suppliers will be based upon the most advantageous tender responses which are scored in accordance with Appendix 5 - the Tender Assessment Document.
CPV: Data entry services · IT services: consulting, software development, Internet and support · IT software development services · IT software package · Services furnished by business, professional and specialist organisations · Software implementation services · Software-related services
The lotProcurement structure
single lot · value publishedLot #1AwardedRenewalPublished value£15,500,000
- Economic & financial standing
Please see the conditions of participation in Appendix 6 - Procurement Specific Questionnaire.
- Technical & professional ability
Please see the conditions of participation in Appendix 6 - Procurement Specific Questionnaire.
NWF are specifying a number of mandatory requirements a Tenderer must be able to meet as a pass/fail response in Appendix 6 - Procurement Specific Questionnaire and within the ITT. Such proposals which fail may not then be further evaluated and as a result a full assessment summary would not be available to the relevant Tenderers.
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 (2)
- Technical: 75%
- Commercial: 25%
Published award criteria (2)
- Technical: Weightings information is further detailed in Appendix 5 of the ITT - the Tender Assessment Methodology. Covers quality, implementation, migration, change management, alignment to NWF's non-functional requirements, ability to meet the requirements and social value. Social Value shall account for 10% weighting.
- Commercial: Covers price and a commercial questionnaire which includes a number of questions, principles and contracting. Weightings information is further detailed in Appendix 5 of the ITT - the Tender Assessment Methodology.
- Economic & financial standing
Please see the conditions of participation in Appendix 6 - Procurement Specific Questionnaire.
- Technical & professional ability
Please see the conditions of participation in Appendix 6 - Procurement Specific Questionnaire.
NWF are specifying a number of mandatory requirements a Tenderer must be able to meet as a pass/fail response in Appendix 6 - Procurement Specific Questionnaire and within the ITT. Such proposals which fail may not then be further evaluated and as a result a full assessment summary would not be available to the relevant Tenderers.
- Price carries 25 of 100 points: a 10% discount moves about 2.5 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- Procedure method
- Competitive flexible procedure
- Legal basis
- UKPGA · 2023/54 Procurement Act 2023
- Procurement category
- Services
- Notice status
- Awarded
- Procurement threshold
- Above threshold (FTS publication)
- Regulatory regime
- Standard
- Commercial structure
- Stand-alone contract (no framework)
- Competition type
- Competitive procedure
- GPA / WTO covered
- Unspecified in notice
- Recurring procurement
- Unspecified in notice
- First published
- 24 Oct 2025, 13:43 BST
- Last source update
- 5 Oct 2026, 11:13 BST
- Award evaluation window
- Submission end – 1 Aug 2026
- Authority reference
C1214- FTS notice number
2026/S 000-003266- Latest notice
- Contract details notice (UK7)
- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-05d370Find a Tender- Contract terms summary
Payment terms will be in accordance with the published procurement documents
- How it runs
This procurement will include multiple tendering rounds. NWF reserves the right not to proceed to a specific round of the tendering process at its discretion in accordance with the tender documentation.
Round 1 - Submission of conditions of participation and initial tender.
Tenderers may be invited as part of Round 1to offer presentations of their proposed Solution to NWF.
Shortlisted Tenderers shall then progress to the next round based upon the award criteria provided in Appendix 5 - the Tender Assessment Document.
Round 2 - Invitation to negotiate and dialogue through a combination of workshops, demonstrations, calculation veracity and/or potential sandbox activity before submission of an updated Tender response.
Clarification and evaluation of updated Tender responses.
Round 3 - a further negotiation and dialogue stage which will focus on updating the implementation, commercial and Contract response only with the Shortlisted Tenderers or the top scoring two tenderers only.
Notification of outcome to Tenderers.
NWF recognises that some Tenderers may not be familiar with public procurement procedures and therefore NWF will make available a number of meeting slots for one to one meetings with Tenderers to address any queries on the procurement process and NWF's requirements for a valid tender. Any additional information provided in such meetings will be circulated to all Tenderers. Any Tenderer that wishes to book a slot (which are available on a first come first served basis) should contact procurement via the Atamis Portal before Monday 19th January 2026. Such meeting shall be no more than 30 minutes.
Upon written notice, as detailed in the tender documentation, Tenderers may submit a variant bid, provided they meet the minimum requirements set out in the tender documents and have received prior approval for the proposed variant bid from NWF as set out in the Invitation to Tender. Suppliers are limited to only one alternative/variant proposal. Each tender will be evaluated independently in accordance with the evaluation criteria. Tenderers must clearly identify each submission and ensure compliance with all instructions in the Invitation to Tender.
NWF will only appoint one supplier as part of the tender process.
NWF has a preference to use its own contract terms in a Letter of Appointment. NWF reserves the right to amend the terms of the Letter of Appointment (Appendix 4 of the ITT) during the tender process. Following round 2, a pass/fail assessment will be applied to determine whether the supplier's proposed contractual terms are acceptable for progression in the procurement process.
It is anticipated that the procurement shall include negotiation. This will take place with Shortlisted Tenderers after round 1 who remain in the process.
The number of suppliers progressing to Round 2 will be no more than 5 suppliers with a minimum of 3 suppliers (unless there are a lower number of compliant proposals or a tie-break situation develops). If this occurs NWF may take forward less than 3 suppliers or more than 5 suppliers. Round 3, if used, may shortlist down to a maximum of two suppliers. The criteria for deciding which suppliers and the number of suppliers will be based upon the most advantageous tender responses which are scored in accordance with Appendix 5 - the Tender Assessment Document.
How it was run
Official notice- Submission deadline
- 13 Feb 2026, 14:00 GMT
- Clarification deadline
- 22 Jan 2026, 16:00 GMT
- Submission channel
- Official e-sourcing portal
- Electronic submission
- Allowed
- Accepted languages
- en
To gain access to the documentation and submit your proposal for this opportunity, please register on Atamis, available on the following link: atamis-3929.my.site.com/s/Welcome ↗ and send an email to [email protected] to be included and once the event is live, we will add you to the event to view the documentation. This will then be visible on the 'View our Live Opportunities' from the home page on Atamis.
If you are not already registered on the system, you will need to do so before gaining full access to the documentation and being able to submit your response.
The tender documents provided are as follows, with associated appendixes:-
- Invitation to Tender
- Appendix 1 - Glossary
- Appendix 2 - Rules of the Procurement
- Appendix 3 - Specification
- Appendix 4 - Draft Contract terms
- Appendix 5 - Tender Assessment Methodology
- Appendix 6 - Qualification Response: Procurement Specific Questionnaire
- Appendix 7 - Technical Response: Award Questionnaire
- Appendix 8 - Commercial Response: Pricing Template
- Appendix 9 - Confidential and Commercially Sensitive Information
- Appendix 10 - Form of Tender
- Appendix 11 - Tender Response Checklist
- Appendix 12 - Non-Functional Requirements
- Appendix 13 - Compliance Matrix
Timeline
24 Oct 2025 → 5 Oct 2026 · 11 dates- Planning notice published363 days ago24 Oct 2025, 13:43 BST
- Market engagement320 days ago5 Dec 2025, 23:59 GMT
- NWF intends to conduct Early Market Engagement ("EME") with the market through this notice with a view to sharing information and seeking input from the market to inform and shape our procurement plans and approach in November 2025.
- NWF will provide Suppliers with an opportunity to feedback on a number of documents it intends to release as part of its tender and the proposed tender process and timelines.
- These documents will be accessed via the live opportunities list on NWF's Atamis eSourcing Portal in accordance with the instructions below in step 6 and completed feedback must be submitted via the eSourcing Portal (Atamis). We expect the documentation to be available from the week commencing the 10th November 2025.
- Respondents can indicate whether they are open to a follow up meeting (s) to discuss any of the feedback they provide. Please note that due to time and resource constraints, it may not be possible for NWF to meet with all interested suppliers. In the event that the level of supplier interest in our market engagement activities exceeds our capacity to accommodate individual meetings, we reserve the right to schedule meetings on a first come, first served basis or with a representative sample of those who have submitted requests. NWF takes the view that this will constitute a fair mechanism to ensure that a range of suppliers within the market are represented (e.g., by similar solutions or responses). To ensure transparency and equal treatment, all relevant information shared by NWF with suppliers during these meetings will also be made available to the wider market at a later date.
Please note that participation in this engagement will not confer any advantage or preference in relation to any future procurement process
Further information will be able to be found in the documents in Atamis.
Please be advised that the estimated value of this requirement or timelines cannot be derived until the completion of the Early Market Engagement activities.
- Interested organisations should note that the procurement strategy and timetable have not been finalised at this stage. NWF will collate and analyse the responses received to decide on its final requirements and tender documents. Responses may be used to develop and scope the procurement strategy and process. NWF will make a final decision on the procurement strategy, timetable, and content of the procurement documentation, having considered feedback, although NWF it not obliged to incorporate any of the feedback received into the ultimate process/documentation. This market engagement exercise does not constitute a commitment to undertake any procurement activity. NWF expects to award one contract for the services but reserves the right to divide the scope into lots / service areas for bidding purposes and/or carve out some elements of the service scope and procure these separately or to pursue in-house solutions.
- To access, please register on Atamis, available on the following link: atamis-3929.my.site.com/s/Welcome ↗ and send an email to [email protected] to be included and once the early market engagement activity begins, we will add you to the event to view the documentation. This will then be visible on the 'View our Live Opportunities' from the home page on Atamis,
If you are not already registered on the system, you will need to do so before gaining full access to the documentation and being able to submit your response.
We expect the documentation to be available from the week commencing the 10th November 2025.
- Next notice expected288 days ago6 Jan 2026, 23:59 GMT
- Tender notice published280 days ago14 Jan 2026, 17:18 GMT
- Clarification questions by272 days ago22 Jan 2026, 16:00 GMT
- Submission deadline251 days ago13 Feb 2026, 14:00 GMT
- Assessment summaries sent91 days ago23 Jul 2026, 00:00 BST
- Award decision expected by81 days ago1 Aug 2026, 23:59 BST
- Contract starts70 days ago13 Aug 2026, 00:00 BST
- Standstill ends64 days ago18 Aug 2026, 23:59 BST
- Latest notice published17 days ago5 Oct 2026, 11:13 BST
Notice history
13 events · 6 releases on Find a Tender · since 24 Oct 2025- Preliminary market engagement notice published24 Oct 2025, 13:43 BSTUK2
- Preliminary market engagement notice published23 Dec 2025, 08:29 GMTUK2
- Tender notice published14 Jan 2026, 17:18 GMTUK4
- Published value updated to £15,500,00014 Jan 2026, 17:18 GMTwas £10,000,000
- Status changed to active14 Jan 2026, 17:18 GMT
- Procurement method changed14 Jan 2026, 17:18 GMT
- Deadline published: 10 Feb 2026, 16:00 GMT14 Jan 2026, 17:18 GMT
- Tender notice published27 Jan 2026, 15:33 GMTUK4
- Deadline moved to 13 Feb 2026, 14:00 GMT27 Jan 2026, 15:33 GMT+3 days · was 10 Feb 2026, 16:00 GMT
- Contract award notice published7 Aug 2026, 12:34 BSTUK6
- Status changed to complete7 Aug 2026, 12:34 BST
- Contract signature expected24 Aug 2026, 23:59 BSTscheduled
- Contract details notice published5 Oct 2026, 11:13 BSTUK7
Published amendments (2)
Publication date of tender notice (estimated) updated.
Extending the date for the first round submissions to Friday 13 February 2026 at 14.00
Routine re-releases (6)
- 2026-01: 1 release · 14 Jan 2026
- 2025-12: 1 release · 23 Dec 2025
- 2025-10: 1 release · 24 Oct 2025
Commercial outcome & contract awards
Published awards, contracts and bid statistics, not a forecast| Awarded to | Value | Date | Status |
|---|---|---|---|
| PortF.ioSME24 Aug 2026 – 31 May 2032 · up to 31 May 2037Extensions: Maximum total extension of 5 years which consist of three (3) occasions for an extension period of 24 months for the first two extension periods and up to 12 months for the final extension period · Options: Option to extend for a further 5 year period | £13,000,000same award published again · counted once | 23 Jul 2026standstill to 18 Aug 2026 | Standstill |
| PortF.ioSME | £13,000,000 † | — | Awarded |
Contracts
Investment Management Solution & related professional services for the National Wealth Fund Limited · PortF.ioSME
- Signed
- 11 Sept 2026
- Value
- £13,000,000
- Period
- 11 Sept 2026 – 31 May 2032 · up to 31 May 2037 with extensions
- Status
- active
- Extensions
- The contract is for an initial 5 year period, commencing on the date the services go live with optional extension options for a further 2+2+1 (total of 5) years (i.e., total contract term of 10 years from when the solution goes live).
4 agreed KPIs: Reducing carbon footprint · Resolution of Priority 1-4 incidents and requests · Uptime of the solution …
- Reducing carbon footprint, Renewable energy in the provision of the services
- Resolution of Priority 1-4 incidents and requests, Resolution of issues relating to the services provided
- Uptime of the solution, Once the solution is live
- Solution becoming operational, Date implementation and hyper care have concluded and the services/solution becomes operational and goes live.
Bid statistics published by the authority
| Bids | SME | VCSE | Valid bid range |
|---|---|---|---|
| 5final-stage tenders | 3 | 0 | — |
Who bid
- wonPORTF.IO LIMITEDSME · Scotland
- did not winFinbourne Technology Limited · Greater London
- did not winVisigon Nordic AB
- did not winMUREX SAS
- did not winFidelity Information Services, LLC
Bidders as named on the Procurement Act 2023 award notice. “Won” means the bidder holds an award on this notice.
Contracting authority & participating public bodies
Bidders & participating suppliers
5 commercial parties on the notice · 1 awarded- Fidelity Information Services, LLCBidder / tenderer
- Finbourne Technology LimitedBidder / tenderer
- MUREX SASBidder / tenderer
- PORTF.IO LIMITEDAwarded supplier
- Visigon Nordic ABBidder / tenderer
Official documents & specifications (7)
Official links; attachments are not copiedTender pack and attachments
- Signed contract Redacted Signed Contract
Notices published for this procedure
- Contract details notice Contract details notice on Find a Tender
- Contract award notice Contract award notice on Find a Tender
- Tender notice Tender notice on Find a Tender
- Tender notice Tender notice on Find a Tender
- Preliminary market engagement notice Preliminary market engagement notice on Find a Tender
- Preliminary market engagement notice Preliminary market engagement notice on Find a Tender