Published date: 15 December 2021

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 18 November 2021, 12pm

Contract summary

Industry

  • Custody services - 66162000

Location of contract

CR0 2NA

Value of contract

£9,000,000 to £53,000,000

Procurement reference

tender_275959/1022554

Published date

15 December 2021

Closing date

18 November 2021

Closing time

12pm

Contract start date

1 September 2022

Contract end date

31 August 2032

Contract type

Service contract

Procedure type

Competitive procedure with negotiation (above threshold)

Anyone may ask to participate, but only those who are pre-selected will be invited to submit initial tenders and to negotiate.

This procedure can be used for procurements above the relevant contract value threshold.

Contract is suitable for SMEs?

No

Contract is suitable for VCSEs?

No

Description

Custody and Investment Operations Outsourcing (IOO) Services. Custodian Services also include Fund
accounting and transfer agency services (unitisation). We may also appoint a second/reserve Custodian to
manage some of the PPF's assets, the exact amount is to be confirmed.

Total contract length stated is based on the maximum possible contract term of 10 years. The initial contract term for Custody is 5 years and IOO 3 years. The minimum contract value and maximum contract values are based on the initial contract term and maximum contract term to be spread across the primary and reserve/secondary custodian, exact split is unknown at this stage.

More information

Previous notice about this procurement

Custody and Investment Operations Outsourcing Services

  • Opportunity
  • Published 12 July 2021

Award information

Awarded date

14 December 2021

Contract start date

1 September 2022

Contract end date

31 August 2032

Total value of contract

£53,000,000

This contract was awarded to 2 suppliers.

The Northern Trust Company

Address

50 Bank Street, Canary Wharf London

Reference

No reference - other

Supplier is SME?

No

Supplier is VCSE?

No

JPMorgan Chase Bank

Address

25 Bank Street, Canary Wharf, London

Reference

No reference - other

Supplier is SME?

No

Supplier is VCSE?

No

About the buyer

Address

Renaissance, 12 Dingwall Road
Croydon
CR0 2NA
England

Email

commercialservices@ppf.co.uk