Investment Fund Manager Tender

Investment Fund Manager Tender

The Life Changes Trust requires a competent, suitably qualified and experienced fund manager to maximise the investment income from the Trust’s ‘spend-out’ endowment. 

United Kingdom-Glasgow: Investment banking services and related services

2014/S 161-289137

Contract notice

Services

Directive 2004/18/EC

Section I: Contracting authority

I.1)Name, addresses and contact point(s)

Life Changes Trust
Empire House, 131 West Nile Street
For the attention of: Business Manager
G1 2RX Glasgow
UNITED KINGDOM
Telephone: +44 1412129600
E-mail: mark.dobson@lifechangestrust.org.uk

Internet address(es):

General address of the contracting authority: http://www.lifechangestrust.org.uk/index.php

Address of the buyer profile: http://www.publiccontractsscotland.gov.uk/search/Search_AuthProfile.aspx?ID=AA23263

Electronic access to information: www.publictendersscotland.publiccontractsscotland.gov.uk

Electronic submission of tenders and requests to participate: www.publictendersscotland.publiccontractsscotland.gov.uk

Further information can be obtained from: Life Changes Trust
Empire House, 131 West Nile Street
For the attention of: Business Manager
G1 2RX Glasgow
UNITED KINGDOM
Telephone: +44 1412129600
Internet address: http://www.lifechangestrust.org.uk/index.php

Specifications and additional documents (including documents for competitive dialogue and a dynamic purchasing system) can be obtained from: Life Changes Trust
Empire House, 131 West Nile Street
For the attention of: Business Manager
G1 2RX Glasgow
UNITED KINGDOM
Telephone: +44 1412129600
Internet address: http://www.lifechangestrust.org.uk/index.php

Tenders or requests to participate must be sent to: Life Changes Trust
Empire House, 131 West Nile Street
For the attention of: Business Manager
G1 2RX Glasgow
UNITED KINGDOM
Telephone: +44 1412129600
Internet address: http://www.lifechangestrust.org.uk/index.php

I.2)Type of the contracting authority

Other: Charity

I.3)Main activity

Social protection

I.4)Contract award on behalf of other contracting authorities

The contracting authority is purchasing on behalf of other contracting authorities: no

Section II: Object of the contract

II.1)Description

II.1.1)Title attributed to the contract by the contracting authority:

Investment Fund Manager Tender – Life Changes Trust.

II.1.2)Type of contract and location of works, place of delivery or of performance

Services
Service category No 6: Financial services a) Insurances services b) Banking and investment services
Main site or location of works, place of delivery or of performance: Glasgow.

NUTS code UK

II.1.3)Information about a public contract, a framework agreement or a dynamic purchasing system (DPS)

The notice involves a public contract
II.1.4)Information on framework agreement

II.1.5)Short description of the contract or purchase(s)

The Life Changes Trust requires a competent, suitably qualified and experienced fund manager to maximise the investment income from the Trust’s ‘spend-out’ endowment. It is estimated the Trust will have GBP46 million in available capital to invest from January 2015. Please see the Trust’s website for more information about the Trust.

NOTE: To register your interest in this notice and obtain any additional information please visit the Public Contracts Scotland Web Site athttp://www.publiccontractsscotland.gov.uk/Search/Search_Switch.aspx?ID=317011

II.1.6)Common procurement vocabulary (CPV)

66120000

II.1.7)Information about Government Procurement Agreement (GPA)

The contract is covered by the Government Procurement Agreement (GPA): yes

II.1.8)Lots

This contract is divided into lots: no

II.1.9)Information about variants

Variants will be accepted: no
II.2)Quantity or scope of the contract

II.2.1)Total quantity or scope:

Maximise the Trust’s investment income with the aim of:
— covering the Trust’s annual operating costs (circa GBP 800 pa) from interest income
— allocating funding of around GBP 5 000 000 a year until 2023 (draw down of capital with some additional income from interest)
— securing some modest additional capital for reinvestment.
— Achieve the above in line with the Trust’s agreed investment risk profile (to be agreed with fund manager); UN principles of responsible investment; and the Trust’s ethical investment policy see appendix 1 for current policy).
— Develop a draft investment strategy for discussion and agreement with Trustees.
— Prepare and present clear and concise quarterly reports on investment activity and returns for Trustees.
Liaise with the Trust’s CEO and Business Manager as required to deliver above.

II.2.2)Information about options

Options: no

II.2.3)Information about renewals

This contract is subject to renewal: no

II.3)Duration of the contract or time limit for completion

Starting 1.1.2015. Completion 1.1.2018

Section III: Legal, economic, financial and technical information

III.1)Conditions relating to the contract
III.1.1)Deposits and guarantees required:

III.1.2)Main financing conditions and payment arrangements and/or reference to the relevant provisions governing them:

Installment Payments.
III.1.3)Legal form to be taken by the group of economic operators to whom the contract is to be awarded:

III.1.4)Other particular conditions

The performance of the contract is subject to particular conditions: yes
Description of particular conditions: — A minimum of 5 years’ experience of managing charitable investments in the UK.
— A sound understanding and experience of responsible and ethical investment.
— A sound understanding of the Trust’s investment and related business needs.
— Ability to make informed and sound decisions to achieve the Trust’s agreed investment strategy and income targets.
— Keeps abreast of industry-specific developments and shares improvement related information with the Trust.
— Provides timely, clear and accurate information to the Trust.
— Ensures best value in contract delivery, with all fees and costs clearly shown, explained and documented.
— Achieve the above in line with the Trust’s agreed investment risk profile (to be agreed with fund manager); UN principles of responsible investment; and the Trust’s ethical investment policy.
III.2)Conditions for participation

III.2.1)Personal situation of economic operators, including requirements relating to enrolment on professional or trade registers

Information and formalities necessary for evaluating if the requirements are met: (1) All candidates will be required to produce a certificate or declaration demonstrating that the candidate, their directors, or any other person who has powers of representation, decision or control of the candidate has not been convicted of conspiracy, corruption, bribery, or money laundering. Failure to provide such a declaration will result in the candidate being declared ineligible and they will not be selected to participate in this procurement process.
(2) Any candidate found to be guilty of serious misrepresentation in providing any information required, may be declared ineligible and not selected to continue with this procurement process.

III.2.2)Economic and financial ability

Information and formalities necessary for evaluating if the requirements are met: (1) All candidates will be required to provide evidence of relevant professional risk indemnity insurance.

III.2.3)Technical capacity

Information and formalities necessary for evaluating if the requirements are met:
(1) A statement of the candidate’s average annual number of staff and managerial staff over the previous 3 years
(2) Details of the educational and professional qualifications of their managerial staff; and those of the person(s) who would be responsible for providing the services or carrying out the work or works under the contract;
III.2.4)Information about reserved contracts
III.3)Conditions specific to services contracts
III.3.1)Information about a particular profession

III.3.2)Staff responsible for the execution of the service

Legal persons should indicate the names and professional qualifications of the staff responsible for the execution of the service: yes

Section IV: Procedure

IV.1)Type of procedure

IV.1.1)Type of procedure

Open
IV.1.2)Limitations on the number of operators who will be invited to tender or to participate
IV.1.3)Reduction of the number of operators during the negotiation or dialogue
IV.2)Award criteria

IV.2.1)Award criteria

The most economically advantageous tender in terms of the criteria stated below

1. Technical. Weighting 75

2. Financial. Weighting 25

 

IV.2.2)Information about electronic auction

An electronic auction will be used: no
IV.3)Administrative information
IV.3.1)File reference number attributed by the contracting authority:
IV.3.2)Previous publication(s) concerning the same contract

IV.3.3)Conditions for obtaining specifications and additional documents or descriptive document

Time limit for receipt of requests for documents or for accessing documents: 6.10.2014

IV.3.4)Time limit for receipt of tenders or requests to participate

10.10.2014 – 17:00
IV.3.5)Date of dispatch of invitations to tender or to participate to selected candidates

IV.3.6)Language(s) in which tenders or requests to participate may be drawn up

English.

IV.3.7)Minimum time frame during which the tenderer must maintain the tender

Duration in months: 4 (from the date stated for receipt of tender)

IV.3.8)Conditions for opening of tenders

Date: 13.10.2014 – 12:00

Place:

Life Changes Trust, West Nile St, Galsgow.

 

Section VI: Complementary information

VI.1)Information about recurrence
VI.2)Information about European Union funds

VI.3)Additional information

(SC Ref:317011).
VI.4)Procedures for appeal
VI.4.1)Body responsible for appeal procedures
VI.4.2)Lodging of appeals
VI.4.3)Service from which information about the lodging of appeals may be obtained

VI.5)Date of dispatch of this notice:

21.8.2014

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