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Scottish National Investment Bank - Investment Management System

Scottish National Investment Bank

This public procurement record has 2 releases in its history.

Award

23 Dec 2022 at 00:00

OJEU - F3 - Contract Award Notice
Tender

13 Jun 2022 at 01:00

OJEU - F2 - Contract Notice
Summary of the contracting process

The Scottish National Investment Bank has completed the procurement process for an Investment Management System. The title of the tender was "Scottish National Investment Bank - Investment Management System". This tender falls under the industry category of "Economic affairs" and was located in Edinburgh, UK. The procurement stage was marked as "Award", and the process was initiated on 23rd December 2022. The buying organization was the Scottish National Investment Bank, and the key deadline for this tender was the award date on 23rd December 2022.

This tender presents an opportunity for businesses in the goods category to grow by providing an end-to-end management system for maintaining investment portfolios. Both large and small-medium enterprises can compete, as evidenced by the participation of FIS Global and PortF.io as suppliers. The procurement method used was an open procedure, offering a fair chance for interested businesses. The Scottish National Investment Bank expects optimal performance in both fund administration and portfolio management, paving the way for solution providers with expertise in these areas to excel in the bidding process.

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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 Preference is for remote hosting / software as a service.

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 2 Lots, one for Fund Administration, and two for Portfolio Management. Bank System Architecture and user base Preference is for remote hosting / software as a service.

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-r6ebe6-0000695606
Publication Source
Public Contracts Scotland
Latest Notice
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=DEC467739
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
OJEU - F3 - Contract Award Notice
Procurement Type
Standard
Procurement Category
Goods
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large, SME

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
£702,000 £500K-£1M

Notice Dates

Publication Date
23 Dec 20223 years ago
Submission Deadline
18 Jul 2022Expired
Future Notice Date
Not specified
Award Date
14 Oct 20223 years ago
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
Complete
Lots Status
Complete
Awards Status
Not Specified
Contracts Status
Active

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

Supplier Information

Number of Suppliers
2
Supplier Names

FIS Global

PortF.io

Further Information

Notice Documents

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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