Scottish National Investment Bank - Investment Management System

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    "id": "ocds-h6vhtk-0345da-2022-06-13T16:19:19+01:00",
    "date": "2022-06-13T16:19:19+01:00",
    "ocid": "ocds-h6vhtk-0345da",
    "description": "NOTE: To register your interest in this notice and obtain any additional information please visit the Public Contracts Scotland Web Site at https://www.publiccontractsscotland.gov.uk/Search/Search_Switch.aspx?ID=695606. The buyer has indicated that it will accept electronic responses to this notice via the Postbox facility. A user guide is available at https://www.publiccontractsscotland.gov.uk/sitehelp/help_guides.aspx. 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. (SC Ref:695606)",
    "initiationType": "tender",
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        "id": "ocds-h6vhtk-0345da",
        "legalBasis": {
            "id": "32014L0024",
            "scheme": "CELEX"
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        "title": "Scottish National Investment Bank - Investment Management System",
        "status": "active",
        "classification": {
            "scheme": "CPV",
            "id": "48411000",
            "description": "Investment management software package"
        },
        "mainProcurementCategory": "goods",
        "description": "An end to end management system enabling the maintenance and monitoring of a live investment portfolio, including debt, direct equity and fund investment styles.",
        "lotDetails": {
            "maximumLotsBidPerSupplier": 2,
            "awardCriteriaDetails": "one & two."
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        "lots": [
            {
                "id": "1",
                "title": "Fund Administration",
                "description": "Background and system purpose - The Scottish National Investment Bank (the \"Bank\") is looking to procure an investment management system to maintain its live investment portfolio, c. 16 assets, GBP200m commitment to date, rising to c. 200 assets, GBP2bn+ deployed over the course of ten years. The Bank's expectation is that the assets / AUM level would be c. 100 investments / GBP1bn at the end of the Investment Management System's initial four-year contract period, with the investment count / AUM increasing smoothly over that period. The Bank's investments will comprise debt, direct equity and fund investments and blends of these instruments. The system will initially be set up to host a single legal entity, Scottish Investments Limited, which holds these assets directly, however the system should be scalable to allow for additional legal entities / investors over time. The Bank is a new entity (established November 2020) and so data migration efforts will be minimal. The system will be expected primarily to support the operations and reporting requirements of the Bank's Impact, Portfolio Management, and Investment Operations teams. Note that the Bank is looking for an optimal solution to perform both fund administration and portfolio / impact management functions. This may be achieved through the employment of one or two systems and the Bank will be looking to source the best solution in aggregate, hence the requirements are divided into 2 Lots, one for Fund Administration, and two for Portfolio Management. Bank System Architecture and user base Salesforce and Access Financials are already in place for the Bank's CRM and corporate general ledger, respectively. SharePoint will be retained for core document management. The systems will need to be able to interface with each other as appropriate. Preference is for remote hosting / software as a service. The Bank has approximately 60 staff. The system will have an initial core user-base of approximately fifteen people (to 31 March 2023), with two / three of these requiring super-user rights. Licensing requirement is anticipated to increase to c. 30 users from 1 April 2023 and may rise to c. 50 users by 31 December 2024. Dependent on licensing the Bank may allow read-only / edit permissions to other members of the Bank extending to all staff as a maximum user base. System would need to have requisite data security, with the potential for different files / data to be locked or have limited availability. Potential bidders must refer to and answer all appropriate questions within the SPD document plus documents 3.1 Evaluation Guide Award Criteria Lot 1, plus document 4 Investment Management System Commercial requirements including the Lot one specifics and document 5 IMS specifications, also complete Document 6 Cyber Security Assessment and finally supply the appropriate financial information in document 7 Pricing Schedule.",
                "contractPeriod": {
                    "durationInDays": 1440
                },
                "hasRenewal": true,
                "renewal": {
                    "description": "A 24 month extension is possible following the initial 48 months and subject to satisfactory performance and mutual agreement on terms."
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                "id": "2",
                "title": "Portfolio Management",
                "description": "Background and system purpose The Scottish National Investment Bank (the \"Bank\") is looking to procure an investment management system to maintain its live investment portfolio, c. 16 assets, GBP200m commitment to date, rising to c. 200 assets, GBP2bn+ deployed over the course of ten years. The Bank's expectation is that the assets / AUM level would be c. 100 investments / GBP1bn at the end of the Investment Management System's initial four-year contract period, with the investment count / AUM increasing smoothly over that period. The Bank's investments will comprise debt, direct equity and fund investments and blends of these instruments. The system will initially be set up to host a single legal entity, Scottish Investments Limited, which holds these assets directly, however the system should be scalable to allow for additional legal entities / investors over time. The Bank is a new entity (established November 2020) and so data migration efforts will be minimal. The system will be expected primarily to support the operations and reporting requirements of the Bank's Impact, Portfolio Management, and Investment Operations teams. Note that the Bank is looking for an optimal solution to perform both fund administration and portfolio / impact management functions. This may be achieved through the employment of one or two systems and the Bank will be looking to source the best solution in aggregate, hence the requirements are divided into two Lots, one for Fund Administration, and two for Portfolio Management. Bank System Architecture and user base Salesforce and Access Financials are already in place for the Bank's CRM and corporate general ledger, respectively. SharePoint will be retained for core document management. The systems will need to be able to interface with each other as appropriate. Preference is for remote hosting / software as a service. The Bank has approximately 60 staff. The system will have an initial core user-base of approximately fifteen people (to 31 March 2023), with two / three of these requiring super-user rights. Licensing requirement is anticipated to increase to c. 30 users from 1 April 2023 and may rise to c. 50 users by 31 December 2024. Dependent on licensing the Bank may allow read-only / edit permissions to other members of the Bank extending to all staff as a maximum user base. System would need to have requisite data security, with the potential for different files / data to be locked or have limited availability. Bidders for lot two must read and answer the SPD document plus 3.2 IMS Evaluation Guide Award Criterion Lot 2, plus document 4 IMS Commercial and Non Functional Requirements plus the Lot 2 specific Portfolio and Impact Management System also document 5 IMS Specification and complete doc 6 Cyber security Assessment and finally complete document 7 Pricing Schedule.",
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                    "durationInDays": 1440
                },
                "hasRenewal": true,
                "renewal": {
                    "description": "An extension of 24 months is permissible subject to satisfactory performance over the initial 48 months and mutual agreement on terms of this extension."
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                        "id": "72212411",
                        "description": "Investment management software development services"
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                        "region": "UKM75"
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                        "description": "Investment management software development services"
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                "deliveryLocation": {
                    "description": "Edinburgh"
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                    "description": "Bidders should note that the SPD has been adjust appropriately for this procurement. Bidders should present 2 FY statements relevant to their bid, bidders will be required to have an average yearly turnover of a minimum of GBP250,000 for each of the last 2 years. Where turnover information is not available for the time period requested, the bidder will be required to state the date which they were set up/started trading. It is a requirement of this contract that bidders hold, or can commit to obtain prior to the commence of any subsequently awarded contract, the types and levels of insurance indicated below: Employer's (Compulsory) Liability = GBP5,000,000 for each and every claim. Public Liability = GBP2,000,000 for each and every claim. Professional Indemnity = GBP5,000,000 for each and every claim. As an alternative for Bidders who started trading less than 3 years prior to the tender return date, they must demonstrate adequate financial capacity by the following evidence: A business plan for a minimum 3 year trading period setting out projected annual average turnover of no less than the threshold stated above; A statement of whether or not any full audited accounts are available for any years' trading to date and copies of those accounts; and A letter of support from their bank setting out the level of financial support available to them from their bank and for how long it is available SNIB reserve the right to accept or decline such financial status.",
                    "minimum": "Please note it is a legal requirement that all bidders hold a minimum of GBP5 million Employers (Compulsory) Liability Insurance except those companies which are exempt in specific circumstances",
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        "tenderPeriod": {
            "endDate": "2022-07-18T12:00:00+01:00"
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            "date": "2022-07-18T12:00:00+01:00",
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            "hasElectronicPayment": true
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        "recurrence": {
            "description": "Dependant upon an extension being issued in September 2026 or not, a fresh procurement exercise may be commenced in June 2026 or during 2028."
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    "parties": [
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            "id": "GB-FTS-12628",
            "name": "Scottish National Investment Bank",
            "identifier": {
                "legalName": "Scottish National Investment Bank"
            },
            "address": {
                "streetAddress": "1-North, Waverley Gate, 2-4 Waterloo Place",
                "locality": "Edinburgh",
                "region": "UKM75",
                "postalCode": "EH1 3EG",
                "countryName": "United Kingdom"
            },
            "contactPoint": {
                "name": "Ken Moncrieff",
                "telephone": "+44 7876546332",
                "email": "Procurement@thebank.scot",
                "url": "http://www.publiccontractsscotland.gov.uk"
            },
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                        "description": "Economic affairs"
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            "name": "Sheriff Court",
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