Fund Manager for Edinburgh and Lothians Health Foundation

Fund Manager for Edinburgh and Lothians Health Foundation

The Trustees of the Edinburgh and Lothians Health Foundation wish to re-tender the role of Investment Manager for the Foundation with a view to having the new manager in place by the end of 2013.

UK-Edinburgh: Financial markets administration services

2013/S 114-194794

Contract notice

Services

Directive 2004/18/EC

Section I: Contracting authority

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

Lothian Health Board Endowment Fund (more commonly known as Edinburgh & Lothians Health Foundation)
Procurement Headquarters, NHS-Lothian Pentland House, 47 Robb’s Loan
Contact point(s): Procurement
For the attention of: Steven Ross-Bell, Senior Sourcing Manager
EH14 1TY Edinburgh
UNITED KINGDOM
Telephone: +44 1314657696
Fax: +44 1314657800

Internet address(es):

General address of the contracting authority: http://www.nhslothian.scot.nhs.uk/

Address of the buyer profile: http://www.publiccontractsscotland.gov.uk/search/Search_AuthProfile.aspx?ID=AA00326

Further information can be obtained from: Lothian Health Board Endowment Fund (more commonly known as Edinburgh & Lothians Health Foundation)
Procurement Headquarters, NHS-Lothian Pentland House, 47 Robb’s Loan
Contact point(s): Procurement
For the attention of: Steven Ross-Bell Senior Sourcing Manager
EH14 1TY Edinburgh
UNITED KINGDOM
Telephone: +44 1314657696
Fax: +44 1314657800
Internet address: http://www.nhslothian.scot.nhs.uk/

Specifications and additional documents (including documents for competitive dialogue and a dynamic purchasing system) can be obtained from: Lothian Health Board Endowment Fund (more commonly known as Edinburgh & Lothians Health Foundation)
Procurement Headquarters, NHS-Lothian Pentland House, 47 Robb’s Loan
Contact point(s): Procurement
For the attention of: Steven Ross-Bell Senior Sourcing Manager
EH14 1TY Edinburgh
UNITED KINGDOM
Telephone: +44 1314657696
Fax: +44 1314657800
Internet address: http://www.nhslothian.scot.nhs.uk/

Tenders or requests to participate must be sent to: Lothian Health Board Endowment Fund (more commonly known as Edinburgh & Lothians Health Foundation)
Procurement Headquarters, NHS-Lothian Pentland House, 47 Robb’s Loan
Contact point(s): Procurement
For the attention of: Steven Ross-Bell Senior Sourcing Manager
EH14 1TY Edinburgh
UNITED KINGDOM
Telephone: +44 1314657696
Fax: +44 1314657800
Internet address: http://www.nhslothian.scot.nhs.uk/

I.2)Type of the contracting authority

Body governed by public law
I.3)Main activity

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

The contracting authority is purchasing on behalf of other contracting authorities: yes

Lanarkshire Health Board Endowment Fund

Section II: Object of the contract

II.1)Description
II.1.1)Title attributed to the contract by the contracting authority:

Fund Manager for Edinburgh and Lothians Health Foundation Registered Charity Number SC007342
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: Edinburgh and Lothians
NUTS code UKM25

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 Trustees of the Edinburgh and Lothians Health Foundation wish to re-tender the role of Investment Manager for the Foundation with a view to having the new manager in place by the end of 2013. The Trustees’ preferred approach would be to have a single investment manager implement the entire mandate, the term of the contract will be 3 years with a possible extension of 24 months.
NOTE: To register your interest in this notice and obtain any additional information please visit the Public Contracts Scotland Web Site at http://www.publiccontractsscotland.gov.uk/Search/Search_Switch.aspx?ID=266925.

The awarding authority has indicated that it will accept electronic responses to this notice via a ‘Tender Submission Postbox’ facility. Further details of this facility are available at http://www.publiccontractsscotland.gov.uk/PostBox/Postbox_Explain.aspx?ID=266925.

Suppliers are advised to allow adequate time for uploading documents and to dispatch the electronic response well in advance of the closing time to avoid any last minute problems. The postbox closes precisely at the time stated.

II.1.6)Common procurement vocabulary (CPV)

66150000, 66151000, 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:

The mandate size is c. GBP 50 000 000 and the long term investment objective of the Foundation is to achieve a level of return consistent with RPI + 4 % per annum.
II.2.2)Information about options

Options: yes
Description of these options: Possible contract extension of 24 months.
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 18.12.2013. Completion 19.12.2018

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

Prime Contractor
III.1.4)Other particular conditions

The performance of the contract is subject to particular conditions: no
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: The candidates are required to respond to all these questions in the PQQ.
III.2.2)Economic and financial ability

Information and formalities necessary for evaluating if the requirements are met: The candidates are required to respond to all these questions in the PQQ.
Minimum level(s) of standards possibly required: The Foundation will only consider investment managers who meet the following minimum criteria:
— regulated in the UK by the FCA or equivalent (please provide confirmation of registration);
— assets under management of at least GBP 3 000 000 000 of which at least GBP 500 000 000 should be with UK based charitable institutions;
— confirmation you are managing 3 charitable funds with assets of over 10 000 000 GBP in size;
— able to demonstrate a 3 year track record of investment in the various asset classes required as stated in the PQQ.
Submissions which do not meet these minimum criteria will not be considered.
III.2.3)Technical capacity

Information and formalities necessary for evaluating if the requirements are met:
The PQQ specifies the requirements for technical capacity All candidates can download document as required.
III.2.4)Information about reserved contracts
III.3)Conditions specific to services contracts
III.3.1)Information about a particular profession

Execution of the service is reserved to a particular profession: yes
Reference to the relevant law, regulation or administrative provision: Regulated in the UK by the FCA or equivalent (please provide confirmation of registration).
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

Accelerated restricted
Justification for the choice of accelerated procedure: Due to transfer of our existing fund manager to an alternitive provider it has been necessary to accelerate the procurement process.
IV.1.2)Limitations on the number of operators who will be invited to tender or to participate

Envisaged minimum number 5: and maximum number 10
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 in the specifications, in the invitation to tender or to negotiate or in the descriptive document
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:

LOTL195/13
IV.3.2)Previous publication(s) concerning the same contract
IV.3.3)Conditions for obtaining specifications and additional documents or descriptive document
IV.3.4)Time limit for receipt of tenders or requests to participate

26.6.2013 – 12:00
IV.3.5)Date of dispatch of invitations to tender or to participate to selected candidates

10.7.2013
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
IV.3.8)Conditions for opening of tenders

Section VI: Complementary information

VI.1)Information about recurrence
VI.2)Information about European Union funds
VI.3)Additional information

The Trustees of Edinburgh and Lothians Health Foundation participate, together with the Trustees of Lanarkshire Health Board Endowment Funds, in a Common Investment Scheme and it is envisaged that the centralised administration and Common Investment Scheme will continue for the foreseeable future, as the Trustees of Lanarkshire Health Board Endowment Funds have not indicated that they wish to withdraw their share of the Endowment funds.
A maximum of 10 respondents to PQQ (this will be the 10 respondents who have the highest scores at PQQ stage)will be sent an invitation to tender (ITT), for completion by the due date. Once these tenders have been scored, on all elements except the presentation. Tenderers with the 3 highest scores at this stage will be invited to a final presentation, which will also form part of the overall scoring to determine the successful candidate. Details on the scoring methodology will appear in the ITT document
(SC Ref: 266925)
VI.4)Procedures for appeal
VI.4.1)Body responsible for appeal procedures

Lothian Health Board
Waverley Gate, 2-4 Waterloo Place
EH1 3EG Edinburgh
UNITED KINGDOM

VI.4.2)Lodging of appeals

Precise information on deadline(s) for lodging appeals: The Authority will notify economic operators who submitted a tender or (where no deselection notification has previously been made) applied to be selected to tender, of its decision to award the contract which notifcation will contain among other information, a summary of the reasons why the economic operator was unsuccessful. The notification will incorporate a ‘standstill period’ of a minimum of 10 clear calendar days (or a minimum of 15 if the communication method used is not electronic) between the date on which the Authority despatches the notice and the date on which the Authority proposes to conclude the relevant contract.The bringing of court proceedings against the Authority during the standstill period will automatically continue the prohibition on entering into the contract until the court proceedings are determined, discontinued or disposed of, or the court, by interim order, brings to an end the prohibition. The remedies that may be awarded by the courts before the contract has been entered into include the setting aside of the decision to award the contract to the winning tenderer. The bringing of court proceedings against the Authority after the contract has been entered into will not affect the contract unless grounds for the imposition of special penalties under the Public Contracts (Scotland) Regulations 2012 can be established. Otherwise the remedies that may be awarded by the courts where the contract has been entered into are limited to the award of damages. Economic operators are entitled to write to the Authority after receipt of the notification should they require further clarification. The Authority will respond within 15 days of such a written request, but it should be noted that receipt by the Authority of such request during the standstill period may not prevent the Authority from awarding the contract following the expiry of the standstill period. Where an economic operator is dissatisfied with the Authority’s response to its request for clarification, or considers that the contract has been concluded in breach of The Public Contracts (Scotland) Regulations 2006, such economic operator is advised to promptly seek independent legal advice.
VI.4.3)Service from which information about the lodging of appeals may be obtained

VI.5)Date of dispatch of this notice:12.6.2013