Treasury Management Tender London

Treasury Management Tender London

To manage a portion of the General Fund’s assets in order to achieve better risk adjusted returns for the Council.

United Kingdom-London: Banking and investment services

2018/S 090-203416

Contract notice

Services

Directive 2014/24/EU

Section I: Contracting authority

I.1)Name and addresses

capitalEsourcing
5 Strand
London
WC2N 5HR
United Kingdom
E-mail: jhughes1@westminster.gov.uk
NUTS code: UKI
Internet address(es):Main address: https://www.westminster.gov.uk/

I.2)Information about joint procurement

The contract is awarded by a central purchasing body

I.3)Communication

The procurement documents are available for unrestricted and full direct access, free of charge, at: https://www.capitalesourcing.com
Additional information can be obtained from the abovementioned address
Tenders or requests to participate must be submitted electronically via: https://www.capitalesourcing.com
Tenders or requests to participate must be submitted to the abovementioned address

I.4)Type of the contracting authority

Regional or local authority

I.5)Main activity

General public services

Section II: Object

II.1)Scope of the procurement

II.1.1)Title:

Treasury Management Asset Backed Securities Fund

II.1.2)Main CPV code

66100000

II.1.3)Type of contract

Services

II.1.4)Short description:

The Council are looking to appoint an investment manager to manage a portion of the General Fund’s assets in order to achieve better risk adjusted returns for the Council The mandate will be invested in Asset Backed Securities and instruments with similar risk characteristics.

II.1.5)Estimated total value

II.1.6)Information about lots

This contract is divided into lots: no
II.2)Description
II.2.1)Title:
II.2.2)Additional CPV code(s)

II.2.3)Place of performance

NUTS code: UKI

II.2.4)Description of the procurement:

The Council are looking to appoint an investment manager to manage a portion of the General Fund’s assets in order to achieve better risk adjusted returns for the Council The mandate will be invested in Asset Backed Securities and instruments with similar risk characteristics This process is being run as an accelerated restricted process Bidders may be invited by the council for clarification interviews if required.

II.2.5)Award criteria

Price is not the only award criterion and all criteria are stated only in the procurement documents
II.2.6)Estimated value

II.2.7)Duration of the contract, framework agreement or dynamic purchasing system

Duration in months: 60
This contract is subject to renewal: yes
Description of renewals:

Plus 5 years, plus requirements that:

1) we can withdraw our money and cancel the contract at any time and withdraw funds with a given notice period (3-6) months;

2) we reserve the right to alter the value of the portfolio at any time.

II.2.9)Information about the limits on the number of candidates to be invited

II.2.10)Information about variants

Variants will be accepted: no

II.2.11)Information about options

Options: no
II.2.12)Information about electronic catalogues

II.2.13)Information about European Union funds

The procurement is related to a project and/or programme financed by European Union funds: no
II.2.14)Additional information

Section III: Legal, economic, financial and technical information

III.1)Conditions for participation
III.1.1)Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers

III.1.2)Economic and financial standing

Selection criteria as stated in the procurement documents

III.1.3)Technical and professional ability

Selection criteria as stated in the procurement documents
III.1.5)Information about reserved contracts
III.2)Conditions related to the contract
III.2.1)Information about a particular profession
III.2.2)Contract performance conditions:
III.2.3)Information about staff responsible for the performance of the contract

Section IV: Procedure

IV.1)Description

IV.1.1)Type of procedure

Restricted procedure
Accelerated procedure
Justification:

Use of this process is on the basis of “state of urgency”, this is justified as each day this procurement is delayed it costs the Council approximately 7 000 GBP per day in notional interest.

IV.1.3)Information about a framework agreement or a dynamic purchasing system
IV.1.4)Information about reduction of the number of solutions or tenders during negotiation or dialogue
IV.1.6)Information about electronic auction

IV.1.8)Information about the Government Procurement Agreement (GPA)

The procurement is covered by the Government Procurement Agreement: no
IV.2)Administrative information
IV.2.1)Previous publication concerning this procedure

IV.2.2)Time limit for receipt of tenders or requests to participate

Date: 23/05/2018
Local time: 14:00

IV.2.3)Estimated date of dispatch of invitations to tender or to participate to selected candidates

Date: 06/06/2018

IV.2.4)Languages in which tenders or requests to participate may be submitted:

English

IV.2.6)Minimum time frame during which the tenderer must maintain the tender

Duration in months: 3 (from the date stated for receipt of tender)
IV.2.7)Conditions for opening of tenders

Section VI: Complementary information

VI.1)Information about recurrence

This is a recurrent procurement: no
VI.2)Information about electronic workflows
VI.3)Additional information:
VI.4)Procedures for review

VI.4.1)Review body

Westminster City Council
London
United Kingdom
VI.4.2)Body responsible for mediation procedures
VI.4.3)Review procedure
VI.4.4)Service from which information about the review procedure may be obtained

VI.5)Date of dispatch of this notice:

09/05/2018

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