Investment Management Services

AI-generated analysis of the documents. Check the official notice and any amendments for current submission details.

1. At a glance

2. Scope of Work

The National Gallery of Ireland seeks a contractor to provide Investment Management Services for a portfolio valued at approximately €7.8 million. The contractor will manage the Gallery's investments, ensuring compliance with relevant regulations and alignment with the Gallery's financial objectives.

Key activities include:

• Portfolio Management: Regular assessment and adjustment of investment strategies to meet the Gallery's short-term and long-term financial goals.
• Reporting: Monthly performance reports detailing investment performance, risk assessments, and compliance with investment policies.
• Client Engagement: Regular communication with Gallery representatives to discuss investment strategies, performance, and market conditions.
• Risk Management: Implementation of risk management strategies to mitigate potential losses and ensure adherence to the Gallery's risk appetite.
• Compliance: Ensuring all investment activities comply with applicable regulations and the Gallery's internal policies.

The contractor will be expected to deliver services over a 36-month term, with a focus on maintaining the capital value of the fund while achieving growth.

3. Background & buyer context

The procurement of Investment Management Services aligns with the National Gallery of Ireland's strategic goal to enhance its financial sustainability. This initiative is part of a broader effort to manage its assets effectively, ensuring that the Gallery can fund its operations and programs. The Gallery has a history of managing its investments internally but seeks external expertise to optimize its portfolio performance. The incumbent service provider is not specified in the tender documents.

4. Eligibility & selection criteria

Bidders must meet the following eligibility and selection criteria:

• Turnover requirement: Minimum average annual turnover of €70,000 over each of the last three financial years.
• Insurance:
• Employers Liability: €13,000,000
• Public Liability: €6,500,000
• Product Liability: €6,500,000
• Professional Indemnity: €1,500,000
• Cyber Liability: €1,000,000
• Certifications: Not specified for this tender.
• Past experience: Demonstration of successful delivery of at least three comparable projects within the last three years.
• Personnel: Not specified for this tender.
• Geographic / facility constraints: Not specified for this tender.

5. Award criteria & scoring

Bids will be evaluated based on the following criteria:

The price/quality split follows the Most Economically Advantageous Tender (MEAT) principle.

6. Submission requirements

Bidders must submit the following documents:

• Method statement / response document: Complete the provided template, adhering to page limits.
• CVs: For key personnel, maximum of 2 pages per CV.
• Pricing schedule: Complete the specified format.
• Case studies: Minimum of three, demonstrating relevant experience.
• Declarations: Including ESPD, Bona Fides, Tax clearance, Conflict of Interest.
• Mandatory site visit: Not specified for this tender.
• Submission portal: eTenders, following specific format rules outlined in the tender documents.

7. Key dates & process

8. Contract terms that matter

Key contract terms include:

• Term: 36 months, with potential for extension.
• Payment terms: Not specified in the tender documents.
• Key SLAs/KPIs: Performance reporting and risk management metrics will be established.
• Liquidated damages: Not specified in the tender documents.
• Termination clauses: Not specified in the tender documents.
• IP ownership: Not specified in the tender documents.
• Sub-contracting rules: Not specified in the tender documents.

9. Risks, red flags & unusuals

Potential concerns include:

• The turnover requirement of €70,000 may limit participation to firms with established financial histories, potentially excluding smaller firms.
• Lack of specified personnel requirements may lead to variability in the quality of bids.
• Absence of a mandatory site visit may hinder bidders' understanding of the Gallery's specific needs.

10. SME fit assessment

Small businesses that can credibly bid should have:

• A proven track record in investment management, ideally with experience in the charity sector.
• The capacity to meet the insurance and turnover requirements.
• The ability to provide a team with relevant experience, although specific personnel requirements are not detailed.
• Consortium or sub-contracting arrangements are not explicitly mentioned, suggesting that bidders should be prepared to deliver the services independently.
• Indicative bid-preparation effort is estimated at several days, depending on the complexity of the proposed investment strategy.
• The incumbent's strength and the absence of specified past winners may indicate a competitive bidding environment.

11. Where to dig deeper

• Source RFT filename: RFT_Investment Management.pdf
• eTenders CFT ID: not specified
• Contact email: not specified
• Important attachments: Appendix 1 — Requirements and Specifications, Appendix 2 — Pricing Schedule, Appendix 3 — Tenderer’s Statement.