Award

Appointment of Investment Manager(s) for the HMS Caroline Preservation Company

THE NATIONAL MUSEUM OF THE ROYAL NAVY

This public procurement record has 5 releases in its history.

Award

26 Jul 2024 at 13:49

Award Notice
TenderAmendment

27 Jan 2023 at 09:35

Tender Notice
TenderAmendment

19 Jan 2023 at 09:36

Tender Notice
TenderAmendment

18 Jan 2023 at 10:12

Tender Notice
Tender

18 Jan 2023 at 09:30

Tender Notice
Summary of the contracting process

The National Museum of the Royal Navy (NMRN) has successfully awarded a contract for the management of investment assets held by The HMS Caroline Preservation Company. The company, a charitable organisation responsible for maintaining and displaying the historically significant HMS Caroline, sought an investment manager to oversee their assets. This award follows an open procedure (above threshold) and culminates in a contract period starting on 27th March 2023 and ending on 27th March 2025. With a total value of £83,000, the contract has been awarded to Rathbones Investment Management Limited, a large-scale firm based in Liverpool. Initial tenders were due on 22nd February 2023, following clarification questions submitted by 10th February 2023.

This tender presents significant opportunities for business growth, particularly for firms specialising in banking and investment services. Small and medium-sized enterprises (SMEs) were deemed suitable to compete, given the open nature of the procurement method. The successful bidder, Rathbones Investment Management Limited, will manage the investment assets for the preservation and display of the HMS Caroline, contributing to the cultural and historical landscape. Businesses with expertise in investment management and a focus on historical or cultural asset management would find this type of tender highly rewarding and aligned with their growth strategies.

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Notice Information

Notice Title

Appointment of Investment Manager(s) for the HMS Caroline Preservation Company

Notice Description

This tender is for the management of investments held by The HMS Caroline Preservation Company, a charitable company limited by guarantee with company number 08303946 and registered charity number 1149930 (the "Company"). The Company is controlled by the National Museum of the Royal Navy ("NMRN"). The purpose of the Company is to manage and maintain for display HMS Caroline, a light cruiser built in 1914 by Cammell Laird in Birkenhead and now moored in Belfast Harbour. HMS Caroline is of historical significance as the only surviving major warship which fought in the Battle of Jutland in 1916. The Company wishes to tender the role of Investment Manager for their investment assets with a view to having the new manager in place by the earliest in late February 2023. The Investment Committee's preferred approach is to have a single investment manager for the entire mandate, albeit the Investment Committee retain the right to appoint more than one manager should they agree that this structure be optimal for the Company. Full details of the Investment Mandate can be found in Annex A-B-C tender documentation on Pages 3-5. The National Museum of the Royal Navy (NMRN) as NMRN Operations are acting as procurement support for this tender. Clarification Questions for Responses must be sent in by Friday 10th February 2023 at Midday. Annex D-E-F is for potential investment managers to complete in full and return to tenders@nmrn.org.uk by the submission deadline. The deadline for submissions is 22nd February 2023 at Midday (1200).

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-9b3a598f-0418-41c0-8c3d-ddf60f728d21
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/c8b2da73-14b9-4c11-8108-c4e4e21a10a2
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (above threshold)
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66100000 - Banking and investment services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£83,000 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
26 Jul 20241 years ago
Submission Deadline
22 Feb 2023Expired
Future Notice Date
Not specified
Award Date
17 Mar 20232 years ago
Contract Period
26 Mar 2023 - 27 Mar 2025 2-3 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
THE NATIONAL MUSEUM OF THE ROYAL NAVY
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
PORTSMOUTH
Postcode
PO1 3NH
Post Town
Portsmouth
Country
England
Major Region (ITL 1)
TLJ South East (England)
Basic Region (ITL 2)
TLJ3 Hampshire and Isle of Wight
Small Region (ITL 3)
TLJ31 Portsmouth
Delivery Location
Not specified
Local Authority
Portsmouth
Electoral Ward
Charles Dickens
Westminster Constituency
Portsmouth South

Supplier Information

Number of Suppliers
1
Supplier Name

RATHBONES INVESTMENT MANAGEMENT

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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