Section one: Contracting authority
one.1) Name and addresses
Renfrewshire Council
Renfrewshire House, Cotton Street
Paisley
PA1 1JB
shona.brydson@renfrewshire.gov.uk
Telephone
+44 00000000
Fax
+44 00000000
Country
United Kingdom
NUTS code
UKM83 - Inverclyde, East Renfrewshire and Renfrewshire
Internet address(es)
Main address
http://www.renfrewshire.gov.uk
Buyer's address
https://www.publiccontractsscotland.gov.uk/search/Search_AuthProfile.aspx?ID=AA00400
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
http://www.publictendersscotland.publiccontractsscotland.gov.uk/
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted electronically via
http://www.publictendersscotland.publiccontractsscotland.gov.uk/
Electronic communication requires the use of tools and devices that are not generally available. Unrestricted and full direct access to these tools and devices is possible, free of charge, at
http://www.publictendersscotland.publiccontractsscotland.gov.uk/
one.4) Type of the contracting authority
Regional or local authority
one.5) Main activity
General public services
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Active Multi Asset Investment Manager
Reference number
RC-CPU-23-222
two.1.2) Main CPV code
- 66100000 - Banking and investment services
two.1.3) Type of contract
Services
two.1.4) Short description
Renfrewshire Council (the Council) acting on behalf of itself and for associated Charities who are seeking to appoint an Active Multi Asset Investment Manager ( hereinafter referred to as the “Investment Manager” or “ Service Provider”) to manage the investments and generate a return which is then distributed to support community projects.
The Investment Manager will manage:
- the Paisley Common Good Fund and the Renfrew Common Good Fund (“Common Good Funds”),
- the Renfrewshire Educational Trust (“Educational Trust”) and
- the Renfrewshire Council Insurance Fund (“Insurance Fund”)
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.2) Additional CPV code(s)
- 66100000 - Banking and investment services
two.2.3) Place of performance
NUTS codes
- UKM83 - Inverclyde, East Renfrewshire and Renfrewshire
two.2.4) Description of the procurement
The Tender Procedure will be conducted in accordance with an above Government Procurement Agreement (GPA) Threshold Open Tender procedure relating to a Services Contract.
two.2.5) Award criteria
Quality criterion - Name: Cyber Security and Principles / Weighting: Pass/Fail
Quality criterion - Name: Team / Weighting: 16
Quality criterion - Name: Fund Management / Weighting: 20
Quality criterion - Name: Risk and Operational Management / Weighting: 12
Quality criterion - Name: Turnover / Weighting: 3
Quality criterion - Name: Performance Management / Weighting: 8
Quality criterion - Name: Relationship Management / Weighting: 7
Quality criterion - Name: Discretionary Agreement / Weighting: 4
Quality criterion - Name: Set Up / Weighting: 2
Quality criterion - Name: Community Benefits / Weighting: 4
Quality criterion - Name: Fair Work First / Weighting: 4
Price - Weighting: 20
two.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months
36
This contract is subject to renewal
Yes
Description of renewals
The Contract has the option to extend for up to two (2) years.
Any extension will be at the sole discretion of Renfrewshire Council, and dependent on satisfactory performance.
two.2.10) Information about variants
Variants will be accepted: No
two.2.11) Information about options
Options: No
two.2.13) Information about European Union Funds
The procurement is related to a project and/or programme financed by European Union funds: No
two.2.14) Additional information
PLEASE NOTE: TOTAL TECHNICAL QUALITY ASSESSMENT SECTION HAS A MINIUMUM SCORING THRESHOLD of 60%
Please see below for details.
Section three. Legal, economic, financial and technical information
three.1) Conditions for participation
three.1.1) Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers
List and brief description of conditions
Tenderers must be registered with the appropriate financial body ie The Financial Conduct Authority and/or the Prudential Regulation Authority part of the Bank of England.
three.1.2) Economic and financial standing
List and brief description of selection criteria
Minimum level(s) of standards required:
The Council will use a Dun & Bradstreet (D&B) Failure Score of 20 or above.
It is recommended that Tenderer’s review their own D&B Failure Score in advance of submitting their SPD Submission.
If, following this review the Tenderer considers that the D&B Failure Score does not reflect their current financial status; the Tenderer should give an explanation within the SPD Submission, together with any relevant supporting independent evidence i.e. audited accounts.
Where the Tenderer is under no obligation to publish accounts and therefore does not have a D&B Failure Score, they must provide their audited financial accounts for the previous 2 years as part of their SPD Submission in order that the Council may assess these to determine the suitability of the Tenderer to undertake a contract of this size.
Insurances
- Employers Liability – statutory 5 million GBP, each and every claim
- Public Liability – minimum 5 million GBP, each and every claim
- Professional Indemnity - 2 million GBP, each and every claim
- Motor Vehicle ((where a motor vehicle is used in the delivery of the service, eg Contract Management meetings) Third party Motor Vehicle cover (statutory) to be evidenced with a MV certificate in the COMPANY name
OR where there is no company fleet and employees use their own vehicles instead, a letter signed by a person of appropriate authority confirming that the provider has ongoing arrangements in place to ensure that employees' vehicles are appropriately insured and maintained for business purposes.
three.1.3) Technical and professional ability
List and brief description of selection criteria
Tenderers will be required to provide examples that demonstrate that they have the relevant experience to deliver these services
Tenderers will be required to confirm whether they intend to subcontract, and if so, for what proportion of the contract.
three.2) Conditions related to the contract
three.2.2) Contract performance conditions
Tenderers must be registered with the appropriate financial body ie The Financial Conduct Authority and/or the Prudential Regulation Authority (as appropriate)
three.2.3) Information about staff responsible for the performance of the contract
Obligation to indicate the names and professional qualifications of the staff assigned to performing the contract
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Open procedure
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: Yes
four.2) Administrative information
four.2.2) Time limit for receipt of tenders or requests to participate
Date
5 April 2024
Local time
12:00pm
four.2.4) Languages in which tenders or requests to participate may be submitted
English
four.2.7) Conditions for opening of tenders
Date
5 April 2024
Local time
12:30pm
Information about authorised persons and opening procedure
The tender will be opened in line with the Council's Standing Orders Relating to Contracts.
Section six. Complementary information
six.1) Information about recurrence
This is a recurrent procurement: No
six.2) Information about electronic workflows
Electronic ordering will be used
Electronic invoicing will be accepted
Electronic payment will be used
six.3) Additional information
Presentations - MINIMUM SCORING THRESHOLD OF 60% (TECHNICAL QUESTIONS)
After the evaluation of the technical submissions has taken place, qualifying tenderers (see below) will be required to undertake a presentation of their tender submission.
All tenderers who obtain a score of 60% and above (out of the 80% available) will be invited to undertake a presentation of their tender submission.
All tenderers who obtain a score of 59.99% and below (out of the 80% available) will be excluded from the Procurement Process, with the Pricing Schedule within their Tender Submission not being considered.
The Council reserves the right to modify by reducing scores, based on the responses provided at the presentation.
It is anticipated that the presentations will take place week commencing 29 April 2024. The exact details will be advised during the evaluation period and communicated by invitation message sent via the Public Contracts Scotland – Tender portal.
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- The Council's advisor Hymans Robertson LLP will assist the Council with the procurement process and they will only have access to the Quality element of Tenderers Submissions. All scoring of the Tender Submissions will be undertaken by Council Officers.
The buyer is using PCS-Tender to conduct this ITT exercise. The Project code is 53611. For more information see: http://www.publiccontractsscotland.gov.uk/info/InfoCentre.aspx?ID=2343
Community benefits are included in this requirement. For more information see: https://www.gov.scot/policies/public-sector-procurement/community-benefits-in-procurement/
A summary of the expected community benefits has been provided as follows:
Tenderers should refer to the Invitation to Tender document (Technical Questions) and the associated documents/guidance within the Supplier Attachment Area.
(SC Ref:757610)
six.4) Procedures for review
six.4.1) Review body
See VI.4.3 below
See VI.4.3 below
Country
United Kingdom
Internet address
http://www.renfrewshire.gov.uk
six.4.3) Review procedure
Precise information on deadline(s) for review procedures
An economic operator that suffers or risks suffering, loss or damage attributable to breach of duty under the Public Contracts (Scotland) Regulations 2015 (SSI 2015/446, as amended) may bring proceedings in the Sheriff Court or the Court of Session in accordance with Regulation 88 of the 2015 Regulations.