Investment banking services and related services

Tender description

Lot 1 — To procure long term investment fund management services for its 'Fund 1' of GBP 50 million. Lot 2 — To procure long term investment fund management services for its 'Fund 2' of GBP 40 million — GBP 45 million. The Open University (OU) is proposing to set up a long term investment fund of £50m 'Fund 1' (Lot 1). The University is seeking bids from experienced organisations that can set up and manage the Fund. The style of Fund 1 will complement the University’s existing long-term investment portfolio and will fall under one or more of the following styles: Index, ESG, Thematic, and Value. The appointed organisation would be expected to have a proven track record of running investment funds and achieving strong returns in a variety of market conditions. The University will require an understanding of any proposed use of derivatives to achieve returns, mitigate risk and of any derived embedded counterparty risks that may arise. The appointed organisation would be expected to demonstrate that they have a clear ESG strategy, which shows commitment to embedding ESG in the investment management process and is consistent with the University’s Responsible Investment Framework. The Open University (OU) is proposing re-tender its ‘wealth preservation’ fund which aims to achieve a minimum target total return with minimal volatility. This concerns the investment of GBP 40 million — GBP 45 million ‘Fund 2’, referred to as Lot 2. The University is seeking bids from experienced organisations that can set up and manage the Fund. The appointed organisation would be expected to have a proven track record of running investment funds and achieving strong returns in a variety of market conditions. The University will require an understanding of any proposed use of derivatives to achieve returns, mitigate risk and of any derived embedded counterparty risks that may arise.