Tender

NU/1874 Segregated Fund Manager

NEWCASTLE UNIVERSITY

This public procurement record has 1 release in its history.

Tender

10 Feb 2023 at 13:37

Tender Notice
Summary of the contracting process

Newcastle University is looking for a Segregated Fund Manager to manage up to £50m on their behalf. The University recently revised its Treasury Management Policy to allow a wider range of financial instruments. The tender, titled "NU/1874 Segregated Fund Manager," falls under the services category and is classified under investment banking services and related services. The tender has a value of £130,000 and the deadline for submissions is 3rd March 2023. The contract period is from 1st May 2023 to 30th April 2024.

This opportunity can benefit businesses specialising in segregated fund management with a proven track record of at least ten years. Companies with expertise in investment banking services and those able to comply with the University's stringent financial security requirements would be well-suited to compete. The procurement stage is at the tender stage, presenting a chance for qualified businesses to engage with Newcastle University and potentially secure a substantial contract for managing funds on behalf of the institution.

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Notice Information

Notice Title

NU/1874 Segregated Fund Manager

Notice Description

Currently the University finance team looks after its Treasury Management Policy and short-term investments are managed in house with the University placing investments with banks, building societies for periods of anywhere between overnight and 12 months. The University has current banking facilities in place with the following Banks or Building societies: * Barclays Bank UK plc [University main bankers] * Royal Bank of Scotland/Nat West plc * Lloyds Bank plc * Santander UK plc * Close Brothers Ltd * Leeds Building Society * Handelsbanken * Virgin Money UK Plc The University has recently revised its Treasury Management Policy to allow the University to invest in a wider range of financial instruments including: * Bank or building society instant access or notice investment accounts * AAA rated Serling Money Market Funds * Fixed term deposits * Certificates of Deposit (CD) A copy of the draft Treasury Management Policy is included in Appendix 1. At the end of January 2023, the University had cash and short-term investment holdings of circa PS213m, but forecast to reduce based on current three year forecasts which include significant strategic project including Net Carbon Zero spend. The profile of income and expenditure is not even - in particular significant University funding is paid by the SLC and this is currently received 25% in late October, 25% in early February with the remaining 50% at the beginning of May. The University's expenditure profile is more even. Cash flows are profiled on a monthly basis. The University's attitude to risk is conservative and security is the most important factor in the Treasury Management Policy. It is a requirement of the new Treasury Management Policy that the investments should be in assets with long term ratings no lower than BBB+ [Fitch], Baa1 [Moody's] and BBB+ [Standard & Poor]. Further, as strategic project expenditure profile is uncertain liquidity is also very important, particularly given the requirement to always provide 60 days of operating cost liquidity. To operationalise the newly drafted Treasury Management Policy the University wishes to appoint a segregated fund manager to manage up to PS50m on behalf of the University of Newcastle. To be considered managers must meet the criteria outlined in the specification including: * Is not currently and has not in the last five years been subject to serious regulatory investigation or action * Track record of segregated fund management team of at least ten years

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-d06ac608-fe5b-49be-906e-4456c770f439
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/43e7782d-cfe6-4f8b-9b1f-4eeea192edea
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Not applicable
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66120000 - Investment banking services and related services

Notice Value(s)

Tender Value
£130,000 £100K-£500K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
10 Feb 20233 years ago
Submission Deadline
3 Mar 2023Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
30 Apr 2023 - 30 Apr 2024 1-2 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
NEWCASTLE UNIVERSITY
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
NEWCASTLE UPON TYNE
Postcode
NE1 7RU
Post Town
Newcastle upon Tyne
Country
England
Major Region (ITL 1)
TLC North East (England)
Basic Region (ITL 2)
TLC4 Northumberland, Durham and Tyne & Wear
Small Region (ITL 3)
TLC43 Tyneside
Delivery Location
Not specified
Local Authority
Newcastle upon Tyne
Electoral Ward
Monument
Westminster Constituency
Newcastle upon Tyne Central and West

Further Information

Notice URLs

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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