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Notice Summary

United Kingdom-Reading: Contract for Investment Manager for Endowment Funds
402814-2019
University of Reading
27 August 2019
26 September 2019
Contract Notice - Restricted Procedure
No

Notice Abstract

The University of Reading has a number of endowment assets held across a variety of classes, including agricultural land and investment properties, as well as more traditional endowment funds. The total amount held within these endowment funds (mainly equities and bonds) totalled 122 800 000 GBP at 31.7.2019. The University of Reading and its associated Trusts and subsidiaries (the ‘University Group’), will appoint the bidder who can manage the 120 000 000 GBP+ of endowment portfolios as currently constituted, but with the capacity and expertise to expand the remit if required to include other classes of asset (such as private equity and infrastructure assets). This tender is for investment manager only, but the University is also interested in certain additional services. This is investment advice on a wider portfolio of assets. To this end, a second optional section and series of questions has been included.

Notice Details

Contract notice

Directive 2014/24/EU - Public Sector Directive

Directive 2014/24/EU

Section I: Contracting Change entity

I.1) Name and addresses

University of Reading

Whiteknights Campus

Reading

RG6 6AB

UK

Contact person: Chriss Harrison

E-mail: procurement@reading.ac.uk

NUTS: UKJ11

Internet address(es)

Main address: www.reading.ac.uk

I.3) Communication

The procurement documents are available for unrestricted and full direct access, free of charge at:

www.in-tendhost.co.uk/theuniversityofreading


Additional information can be obtained from the abovementioned address


Tenders or requests to participate must be sent electronically to:

www.in-tendhost.co.uk/theuniversityofreading


Tenders or requests to participate must be sent to the abovementioned address


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

Contract for Investment Manager for Endowment Fundsi

Reference number: UOR/EU/19/002

II.1.2) Main CPV code

66100000

 

II.1.3) Type of contract

Services

II.1.4) Short description

The University of Reading has a number of endowment assets held across a variety of classes, including agricultural land and investment properties, as well as more traditional endowment funds. The total amount held within these endowment funds (mainly equities and bonds) totalled 122 800 000 GBP at 31.7.2019. The University of Reading and its associated Trusts and subsidiaries (the ‘University Group’), will appoint the bidder who can manage the 120 000 000 GBP+ of endowment portfolios as currently constituted, but with the capacity and expertise to expand the remit if required to include other classes of asset (such as private equity and infrastructure assets). This tender is for investment manager only, but the University is also interested in certain additional services. This is investment advice on a wider portfolio of assets. To this end, a second optional section and series of questions has been included.

II.1.5) Estimated total value

Value excluding VAT: 4 200 000.00 GBP

II.1.6) Information about lots

This contract is divided into lots: No

II.2) Description

II.2.2) Additional CPV code(s)

66100000

II.2.3) Place of performance

NUTS code:

UKJ11


Main site or place of performance:

II.2.4) Description of the procurement

The University of Reading has a number of endowment assets held across a variety of classes, including agricultural land and investment properties, as well as more traditional endowment funds. The total amount held within these endowment funds (mainly equities and bonds) totalled 122 800 000 GBP at 31.7.2019. The University of Reading and its associated Trusts and subsidiaries (the ‘University Group’), will appoint the bidder who can manage the 120 000 000 GBP+ of endowment portfolios as currently constituted, but with the capacity and expertise to expand the remit if required to include other classes of asset (such as private equity and infrastructure assets). This tender is for investment manager only, but the University is also interested in certain additional services. This is investment advice on a wider portfolio of assets. To this end, a second optional section and series of questions has been included. This section is not compulsory, but should prospective managers answer these questions they will carry an overall weighting of 10 % in the final scoring. This is the additional value that the University places on these investment advisor services. However, the University does not want to dissuade interest from those only looking to manage the core endowment funds portfolio, and therefore the weighting of 90 % reflects the fact that this is the key focus of the tender.

II.2.5) Award criteria

Price is not the only award criterion and all criteria are stated only in the procurement documents

II.2.7) Duration of the contract, framework agreement or dynamic purchasing system

Start: 06/01/2020

End: 05/01/2025

This contract is subject to renewal: Yes

Description of renewals:

Initial contract period for 5 years with the option to extend for a further 5 years.

II.2.9) Information about the limits on the number of candidates to be invited

Envisaged number of candidates: 5

II.2.10) Information about variants

Variants will be accepted: No

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

II.2.14) Additional information

Section III: Legal, economic, financial and technical information

III.1) Conditions for participation

III.1.1) Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers

List and brief description of conditions:

As detailed in the tender documents.

III.1.3) Technical and professional ability

Selection criteria as stated in the procurement documents


III.2) Conditions related to the contract

Section IV: Procedure

IV.1) Description

IV.1.1) Type of procedure

Restricted procedure

IV.1.8) Information about Government Procurement Agreement (GPA)

The procurement is covered by the Government Procurement Agreement: Yes

IV.2) Administrative information

IV.2.2) Time limit for receipt of tenders or requests to participate

Date: 26/09/2019

Local time: 12:00

IV.2.3) Estimated date of dispatch of invitations to tender or to participate to selected candidates

Date: 10/10/2019

IV.2.4) Languages in which tenders or requests to participate may be submitted

EN

Section VI: Complementary information

VI.1) Information about recurrence

This is a recurrent procurement: Yes

VI.4) Procedures for review

VI.4.1) Review body

University of Reading

Reading

Berkshire

UK

E-mail: procurement@reading.ac.uk

Internet address(es)

URL: www.reading.ac.uk/procurement

VI.4.3) Review procedure

Precise information on deadline(s) for review procedures:

VI.5) Date of dispatch of this notice

22/08/2019