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Scottish National Investment Bank - Investment Management System

Scottish National Investment Bank

This public procurement record has 1 release in its history.

Tender

13 Jun 2022 at 16:19

Tender Notice
Summary of the contracting process

The Scottish National Investment Bank is currently seeking tenders for an Investment Management System to support its growing portfolio management needs. This procurement process falls under the goods category, specifically focusing on investment management software packages. The tender is at the active planning stage and is set to close on 18th July 2022. Interested parties are encouraged to submit electronic responses via the designated platform. This initial contract period is planned for four years, with the potential for a 24-month extension based on satisfactory performance.

This tender presents significant growth opportunities for businesses specialising in software development and investment management solutions, particularly those that can offer services such as fund administration and portfolio impact management. Companies with experience in developing scalable and secure software systems, especially in the financial services sector, will be well-suited to compete. Bidders must demonstrate robust financial capabilities, with a minimum average turnover requirement of £250,000 over the last two years, making this a viable opportunity for established firms looking to expand their portfolio in public sector contracts.

How relevant is this notice?

Notice Information

Notice Title

Scottish National Investment Bank - Investment Management System

Notice 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.

Lot Information

Fund Administration

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.

Renewal: A 24 month extension is possible following the initial 48 months and subject to satisfactory performance and mutual agreement on terms.

Portfolio Management

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.

Renewal: An extension of 24 months is permissible subject to satisfactory performance over the initial 48 months and mutual agreement on terms of this extension.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-0345da
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/016181-2022
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Goods
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

48 - Software package and information systems

72 - IT services: consulting, software development, Internet and support

CPV Codes

48411000 - Investment management software package

72212411 - Investment management software development services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
13 Jun 20224 years ago
Submission Deadline
18 Jul 2022Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Dependant upon an extension being issued in September 2026 or not, a fresh procurement exercise may be commenced in June 2026 or during 2028.

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Scottish National Investment Bank
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
EDINBURGH
Postcode
EH1 3EG
Postcode Area
Edinburgh
Country
Scotland
Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM1 East Central Scotland
Small Region (ITL 3)
TLM13 City of Edinburgh
Delivery Location
TLM75 City of Edinburgh
Local Authority
City of Edinburgh
Electoral Ward
City Centre
Westminster Constituency
Edinburgh East and Musselburgh

Further Information

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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