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Active Multi Asset Investment Manager

Renfrewshire Council

This public procurement record has 2 releases in its history.

Award

07 Oct 2024 at 14:58

Award Notice
Tender

05 Mar 2024 at 12:29

Tender Notice
Summary of the contracting process

Renfrewshire Council, along with associated charities, has completed the procurement process for an Active Multi Asset Investment Manager to manage various funds including the Paisley Common Good Fund and the Renfrewshire Council Insurance Fund. The procurement was conducted through an open tender procedure in accordance with the Government Procurement Agreement (GPA) Threshold, focusing on banking and investment services. The contract, valued at £698,610, was awarded to LGT Wealth Management, a large supplier based in Edinburgh. The contract signing took place on 26th September 2024, and the procurement process included various stages such as presentation evaluations occurring in the week commencing 29th April 2024.

This tender presents significant opportunities for businesses specialising in fund management and investment services, particularly those capable of demonstrating superior technical capability and meeting stringent quality criteria. The requirements include a strong emphasis on risk and operational management, performance management, and community benefits. Typically, large financial institutions or specialised asset management firms are well-suited to meet the council's needs, given the contract's substantial value and regulatory compliance requirements such as those enforced by the Financial Conduct Authority. Such contracts not only provide a substantial revenue stream but also offer a prominent role in supporting community projects through effective fund management.

How relevant is this notice?

Notice Information

Notice Title

Active Multi Asset Investment Manager

Notice 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")

Lot Information

Lot 1

The Tender Procedure will be conducted in accordance with an above Government Procurement Agreement (GPA) Threshold Open Tender procedure relating to a Services Contract.

Renewal: 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.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-044590
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/032090-2024
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
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
Not specified
Contracts Value
£698,610 £500K-£1M

Notice Dates

Publication Date
7 Oct 20241 years ago
Submission Deadline
5 Apr 2024Expired
Future Notice Date
Not specified
Award Date
26 Sep 20241 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Renfrewshire Council
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
PAISLEY
Postcode
PA1 1JB
Postcode Area
Paisley
Country
Scotland
Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM3 West Central Scotland
Small Region (ITL 3)
TLM33 Inverclyde, East Renfrewshire, and Renfrewshire
Delivery Location
TLM83 Inverclyde, East Renfrewshire, and Renfrewshire
Local Authority
Renfrewshire
Electoral Ward
Paisley East and Central
Westminster Constituency
Paisley and Renfrewshire South

Supplier Information

Number of Suppliers
1
Supplier Name

LGT Wealth Management

Further Information

Open Contracting Data Standard (OCDS)

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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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