UK

Contract award notice

Information

Published

Date of dispatch of this notice: 01/03/2019

External Reference: 2019-546674

TED Reference: 2019/S 046-105978

Contract award notice

Contract award notice

Results of the procurement procedure

Directive 2014/24/EU

Section I: Contracting authority

I.1)

Name and addresses

University of Exeter
RC000653
Northcote House
Exeter
EX4 4QH
UK
Contact person: Dave Burchill
Telephone: +44 11111111
E-mail: d.burchill@exeter.ac.uk
Internet address(es):
Main address: http://www.exeter.ac.uk
Address of the buyer profile: https://uk.eu-supply.com/ctm/Company/CompanyInformation/Index/53042

I.4)

Type of the contracting authority

Body governed by public law
I.5)

Main activity

Education

Section II: Object

II.1)

Scope of the procurement

II.1.1)

Title

Investment Fund Manager
Reference number:  UOE/2018/029
II.1.2)

Main CPV code

66100000  -  Banking and investment services
II.1.3)

Type of contract

Services
II.1.4)

Short description

The University has appointed a single Investment Fund Manager to manage its investment fund.
The University currently invests approximately £40m in a multi-asset portfolio and has recently decided to review the portfolio to better incorporate ESG factors. The University is looking to implement a ‘best in class’ ESG focussed portfolio.
The mandate for the successful Investment Fund Manager is to invest around £40m. There are not expected to be significant income requirements in the foreseeable future.
The University’s current investment objective for the overall portfolio is to achieve an investment return of CPI+4% p.a. over the long-term.
II.1.6)

Information about lots

This contract is divided into lots: no
II.1.7)

Total value of the procurement

Value excluding VAT:  2500000.00  GBP
II.2)

Description

II.2.2)

Additional CPV code(s)

66100000  -  Banking and investment services
II.2.4)

Description of the procurement

The University has appointed a single Investment Fund Manager to manage its investment fund.
An EU Restricted Procedure has been completed to procure these services. The University's key aim was to procure a 'best in class' ESG solution.
II.2.5)

Award criteria

Criteria below
Quality criterion  -  Name:  Investment Approach, Portfolio and Strategy  /  Weighting:  30
Quality criterion  -  Name:  ESG Strategy/Engagement/Reporting  /  Weighting:  30
Quality criterion  -  Name:  People (Fund manager and client relationship)  /  Weighting:  10
Quality criterion  -  Name:  Proposed solution (including fund structure, currency hedging, liquidity, reporting, transaction process)  /  Weighting:  10
Quality criterion  -  Name:  Performance (either of funds or similar mandates)  /  Weighting:  10
Cost criterion  -  Name:  Fee Proposal  /  Weighting:  10
II.2.11)

Information about options

Options: no
II.2.13)

Information about European Union funds

The procurement is related to a project and/or programme financed by European Union funds: no

Section IV: Procedure

IV.1)

Description

IV.1.1)

Type of procedure

Restricted procedure
IV.1.8)

Information about the Government Procurement Agreement (GPA)

The procurement is covered by the Government Procurement Agreement : yes
IV.2)

Administrative information

IV.2.1)

Previous publication concerning this procedure

Notice number in the OJ S: 2018/S 162-370580

Section V: Award of contract

Contract No: 1

Title: Investment Fund Manager

A contract/lot is awarded: yes
V.2)

Award of contract

V.2.1)

Date of conclusion of the contract

08/01/2019
V.2.2)

Information about tenders

Number of tenders received:  5
Number of tenders received from SMEs:  0
Number of tenders received from tenderers from other EU Member States:  0
Number of tenders received from tenderers from non-EU Member States:  0
Number of tenders received by electronic means:  5
The contract has been awarded to a group of economic operators :  no
V.2.3)

Name and address of the contractor

Rathbone Investment Management Limited
01448919
1 Curzon Street
London
W1J 5FB
UK
E-mail: james.brennan@rathbones.com

The contractor is an SME : no
V.2.4)

Information on value of the contract/lot (excluding VAT)

Total value of the contract/lot:  2500000.00  GBP

Section VI: Complementary information

VI.4)

Procedures for review

VI.4.1)

Review body

Royal Court of Justice
London
UK