---
title: "HDD-ITT-48428 Provision of a Charitable funds investment Manager"
ocid: "ocds-kuma6s-115454"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-kuma6s-115454"
markdown_url: "https://d3tenders.com/contract/ocds-kuma6s-115454.md"
json_url: "https://d3tenders.com/contract/ocds-kuma6s-115454.json"
source: "Sell2Wales"
current_stage: "Award"
buyer: "HYWEL DDA UNIVERSITY HEALTH BOARD"
published: "2022-04-04"
---

# HDD-ITT-48428 Provision of a Charitable funds investment Manager

Buyer: HYWEL DDA UNIVERSITY HEALTH BOARD  
Current stage: Award  
OCID: ocds-kuma6s-115454

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## Summary

The procurement process involves Hywel Dda University Health Board, which is seeking a Charitable Funds Investment Manager for an investment fund split into two parts: a £2.3 million permanent endowment aimed at either maximising income or delivering total return, and a £6.2 million general investment focused on maximising overall return. This contract was awarded on 15 March 2022 after an open tender procedure. The project is located in Carmarthen, UK, and was announced as complete with a status indicating that the contract is currently active.

This tender presents substantial opportunities for investment management firms, particularly those with experience in charitable fund management and a strong understanding of risk management strategies. Businesses equipped to offer low to medium risk investment solutions aligned with the ethical policies of the Hywel Dda University Health Board will be especially well-positioned to compete. Additionally, local suppliers and Welsh SMEs may find an advantageous entry point due to the Health Board's commitment to including them in the bidding process.

## Notice

Hywel Dda University Health board has awarded a contract for the provision of a charitable fund investment manager for Hywel Dda University Health Board. The investment fund is to be split into two, each with a different objective, as follows: GBP2.3m permanent endowment to be invested with the objective of; A)Maximising income, where the income is to be released from the fund. or B)Delivering the best return for the fund on a "total return" basis (the Trustee invites comment in the tender on which of these options should be preferred). The remaining GBP6.2m general investment with the objective of maximising the investment return, where the income, and capital are to be retained within the fund. During the contract period there is a possibility that in the region of GBP1m will need to be released from the general investment fund in order to fund current ongoing projects. The value of the investment fund may increase or decrease over time dependent on the resource commitment of the charity. The Trustee has, in the past, preferred the investment advisor to actively manage the investment fund. However, the Trustee is also open to suggestions to alternative approaches that investment managers may wish to put forward that they consider appropriate. The Trustee will be looking at investments to have either a low or medium risk profile and will be guided with advice from the successful investment advisor linked to past performance of those investments. The expected annual income stream, excluding investment income and returns of the charity is GBP2.2m. approximately GBP1.5m, mainly from donations and legacies. The Trustees are committed under Charity Commission guidance not to accumulate funds unnecessarily and aims to spend income within a reasonable period. This commitment may affect the level of investment, and an annual review and discussion with the investment advisor will be undertaken regarding adjustments required. The Trustee has an ethical policy in place which will apply to investments held. The current ethical policy is as follows: 1.The Hywel Dda University Heath Board Charity supports the NHS work of Hywel Dda University Health Board with the approved charitable purposes of; the advancement of health and the saving of lives the relief of those in need, by reason of youth, age, ill-health, disability. the advancement of education (including research) 2.It has been determined that the following investments conflict with the charitable objects and purposes of the charity; Investment in the production, manufacturing or supply of tobacco products. Investment in the production, manufacturing or supply of alcoholic beverages. 3.Clearly there are some companies, in particular in the retail sector, which derive part of their turnover from the above two product groups. In proportion to harm caused by the moderate consumption of either, the following limits are set, above which investment will not take place; Investment in the production or manufacturing of tobacco products at any level of turnover Investment in the supply of tobacco products where turnover of more than 5% is derived from this source. Investment in the production, manufacturing of alcoholic beverages where more than 25% is derived from this source.

### Lot Information

Lot 1

Hywel Dda University Health Board has awarded a contract for the provision of a charitable fund investment manager for Hywel Dda University Health Board. The ITT will be conducted via an Invitatation to Tender (ITT) via Bravo eTenderWales, using the open procedure, inviting bids from suppliers, to include local suppliers and Welsh SMEs. The ITT will provide prospective tenderers with more detail of the Health Board's requirements and will incorporate, amongst other information: 1. Health Board's requirements 2. Specification 3. Request for commercial proposals 4. The award criteria will cover Overall Value for Money

Renewal: 2 year extension.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Sell2Wales |
| Latest notice | https://www.sell2wales.gov.wales/search/search_switch.aspx?ID=115454 |
| Notice type | OJEU - F3 - Contract Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure |
| Tender suitability | Not specified |
| Awardee scale | Large |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 4 Apr 2022 |
| Submission deadline | 17 Dec 2021 |
| Future notice date | Not specified |
| Award date | 15 Mar 2022 |
| Contract period | 3 Jan 2022 - 31 Dec 2025 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £180,000 |
| Lots value | Not specified |
| Awards value | Not specified |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Complete |
| Awards status | Not specified |
| Contracts status | Active |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | HYWEL DDA UNIVERSITY HEALTH BOARD |
| Locality | CARMARTHEN |
| Post town | Swansea |
| Postcode | SA31 3BB |
| Country | Wales |
| ITL 1 | TLL Wales |
| ITL 2 | TLL4 Mid and South West Wales |
| ITL 3 | TLL42 South West Wales |
| Local authority | Carmarthenshire |
| Electoral ward | Carmarthen Town West |
| Westminster constituency | Caerfyrddin |
| Delivery location | TLL14 South West Wales |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | CCLA |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66100000 - Banking and investment services

## Release History

- 4 Apr 2022 at 00:00 - Award - OJEU - F3 - Contract Award Notice - https://www.sell2wales.gov.wales/search/search_switch.aspx?ID=115454
- 3 Nov 2021 at 00:00 - Tender - OJEU - F2 - Contract Notice - https://www.sell2wales.gov.wales/search/search_switch.aspx?ID=115454

## Documents

- https://www.sell2wales.gov.wales/search/show/search_view.aspx?ID=NOV378341
  HDD-ITT-48428 Provision of a Charitable funds investment Manager - Hywel Dda University Health board has a tender requirement for the provision of a charitable fund investment manager for Hywel Dda University Health Board. The investment fund is to be split into two, each with a different objective, as follows: GBP2.3m permanent endowment to be invested with the objective of; A)Maximising income, where the income is to be released from the fund. or B)Delivering the best return for the fund on a "total return" basis (the Trustee invites comment in the tender on which of these options should be preferred). The remaining GBP6.2m general investment with the objective of maximising the investment return, where the income, and capital are to be retained within the fund. During the contract period there is a possibility that in the region of GBP1m will need to be released from the general investment fund in order to fund current ongoing projects. The value of the investment fund may increase or decrease over time dependent on the resource commitment of the charity. The Trustee has, in the past, preferred the investment advisor to actively manage the investment fund. However, the Trustee is also open to suggestions to alternative approaches that investment managers may wish to put forward that they consider appropriate. The Trustee will be looking at investments to have either a low or medium risk profile and will be guided with advice from the successful investment advisor linked to past performance of those investments. The expected annual income stream, excluding investment income and returns of the charity is GBP2.2m. approximately GBP1.5m, mainly from donations and legacies. The Trustees are committed under Charity Commission guidance not to accumulate funds unnecessarily and aims to spend income within a reasonable period. This commitment may affect the level of investment, and an annual review and discussion with the investment advisor will be undertaken regarding adjustments required. The Trustee has an ethical policy in place which will apply to investments held. The current ethical policy is as follows: 1.The Hywel Dda University Heath Board Charity supports the NHS work of Hywel Dda University Health Board with the approved charitable purposes of; the advancement of health and the saving of lives the relief of those in need, by reason of youth, age, ill-health, disability. the advancement of education (including research) 2.It has been determined that the following investments conflict with the charitable objects and purposes of the charity; Investment in the production, manufacturing or supply of tobacco products. Investment in the production, manufacturing or supply of alcoholic beverages. 3.Clearly there are some companies, in particular in the retail sector, which derive part of their turnover from the above two product groups. In proportion to harm caused by the moderate consumption of either, the following limits are set, above which investment will not take place; Investment in the production or manufacturing of tobacco products at any level of turnover Investment in the supply of tobacco products where turnover of more than 5% is derived from this source. Investment in the production, manufacturing of alcoholic beverages where more than 25% is derived from this source.
- https://www.sell2wales.gov.wales/search/show/search_view.aspx?ID=APR393929
  HDD-ITT-48428 Provision of a Charitable funds investment Manager - Hywel Dda University Health board has awarded a contract for the provision of a charitable fund investment manager for Hywel Dda University Health Board. The investment fund is to be split into two, each with a different objective, as follows: GBP2.3m permanent endowment to be invested with the objective of; A)Maximising income, where the income is to be released from the fund. or B)Delivering the best return for the fund on a "total return" basis (the Trustee invites comment in the tender on which of these options should be preferred). The remaining GBP6.2m general investment with the objective of maximising the investment return, where the income, and capital are to be retained within the fund. During the contract period there is a possibility that in the region of GBP1m will need to be released from the general investment fund in order to fund current ongoing projects. The value of the investment fund may increase or decrease over time dependent on the resource commitment of the charity. The Trustee has, in the past, preferred the investment advisor to actively manage the investment fund. However, the Trustee is also open to suggestions to alternative approaches that investment managers may wish to put forward that they consider appropriate. The Trustee will be looking at investments to have either a low or medium risk profile and will be guided with advice from the successful investment advisor linked to past performance of those investments. The expected annual income stream, excluding investment income and returns of the charity is GBP2.2m. approximately GBP1.5m, mainly from donations and legacies. The Trustees are committed under Charity Commission guidance not to accumulate funds unnecessarily and aims to spend income within a reasonable period. This commitment may affect the level of investment, and an annual review and discussion with the investment advisor will be undertaken regarding adjustments required. The Trustee has an ethical policy in place which will apply to investments held. The current ethical policy is as follows: 1.The Hywel Dda University Heath Board Charity supports the NHS work of Hywel Dda University Health Board with the approved charitable purposes of; the advancement of health and the saving of lives the relief of those in need, by reason of youth, age, ill-health, disability. the advancement of education (including research) 2.It has been determined that the following investments conflict with the charitable objects and purposes of the charity; Investment in the production, manufacturing or supply of tobacco products. Investment in the production, manufacturing or supply of alcoholic beverages. 3.Clearly there are some companies, in particular in the retail sector, which derive part of their turnover from the above two product groups. In proportion to harm caused by the moderate consumption of either, the following limits are set, above which investment will not take place; Investment in the production or manufacturing of tobacco products at any level of turnover Investment in the supply of tobacco products where turnover of more than 5% is derived from this source. Investment in the production, manufacturing of alcoholic beverages where more than 25% is derived from this source.

## Notice URLs

- http://nwssp.nhs.wales/ourservices/procurement-services/
- https://api.sell2wales.gov.wales/v1?lang=cy/Notice?id=ocds-kuma6s-115454
- https://etenderwales.bravosolution.co.uk/home.html
- https://www.nwssp.wales.nhs.uk

## Provenance

This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-kuma6s-115454. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-kuma6s-115454.json.