Basic Information

Reference Number

0000208669

Issuing Organization

Lumenus Community Services

Solicitation Type

RFP - Request for Proposal (Formal)

Solicitation Number

LumenusRFP10

Title

RFP - Investment Manager

Source ID

PP.CO.Ont..1072845.C107490

Agreement Type

Broader Public Sector (BPS)

Details

Location

Canada, Ontario

Delivery Point

1126 Finch Ave West, Unit 16 Toronto ON M3J 3J6

Purchase Type

Duration: 1 year

Description

Background

Lumenus Community Services (Lumenus) is issuing a Request for Proposals (RFP) to interested suppliers to submit proposals to provide investment manager services.
The RFP has been initiated as a standard procurement procedure to meet the requirements of the Government of Ontario’s Broader Public Sector Accountability Act and its associated directives and in accordance with Lumenus’ Procurement Policy.

About Lumenus Community Services

In April 2020, Lumenus was created from the amalgamation of four well-respected and long-serving, multi-service delivery agencies, Adventure Place, The Etobicoke Children’s Centre, Griffin Centre and Skylark Children, Youth and Families. Lumenus has an associated foundation which is currently named the Skylark Foundation.
Our vision is to provide excellent, accessible and integrated mental health, developmental and community services. Where there are gaps we will create seamless connections – where there are obstacles or barriers, we will improve access. Where there is worry, there will be hope. We will do this in collaboration with our clients and partners. That is the bright future of Lumenus – where every client has the opportunity to be seen, be heard and to be well.
We support infants, children, transitional-aged youth, adults and their families, with a focus on improving their development and mental well-being. We have a dynamic vision to be a modern, integrated organization committed to excellence and meeting the needs of our existing and future clients.
Lumenus has over 600 employees and revenues of $80 million and will capitalize on collective strengths, values and areas of expertise to provide a quality, integrated, continuous system of much needed accessible services. Specifically, we will be leaders in the development of a unique and broad continuum of service models for:

Infants and young children (0-6 years) and their parents
Children and youth with developmental disabilities and autism (0-18 years)
Children and youth with mental health concerns (0-25 years) and
Adults with developmental disabilities (16+ years)

We operate from 39 locations in Toronto, East York, Etobicoke, North York, Richmond Hill and Scarborough. These include residential, commercial, community and school sites. We also work with school boards and individual schools to support individuals in sectioned classrooms. Our integrated continuum of services include early intervention, counselling, day school treatment, residential services, fee-for-service and specialized services for clients with complex needs and autism.
Lumenus is seeking proposals from qualified investment management firms or consultants to invest approximately $2.7M to support the mission and vision of Lumenus Community Services and the Lumenus Foundation.

Scope of Services

The scope of services will include but not be limited to:

Supporting the Board of Directors with:

- Developing appropriate investment management governance practices

- Developing an investment policy that aligns with the organization’s mission, vision and values

- Building an investment portfolio that supports the organization’s strategic goals, risk tolerance and investment growth targets

- Monitoring and reporting the portfolio performance to stakeholders

Supporting the CAO and Finance Department with

- Appropriate operational oversight to meet compliance requirements

Form of Proposals

All proposals are required to contain each of the following:

Qualifications and experience in achieving the scope of services inclusive of
- Background of the firm, ownership structure and total firm’s assets under administration and the amount of assets under administration of charities and not for profit organizations
- The process used for determining asset mix, including current asset mix recommendations
- Details of who will be directly involved in servicing the Lumenus account and how accessible they will be
- A description of experience with socially responsible investments and how they will fit (or not fit) into the Lumenus portfolio
- A description of how our preliminary desired minimum return of 4% - 5% will be achieved
- A minimum of five (5) years of investment results of proposed investments mandates versus benchmarks
- An explanation of historical performance during period when the index was outperformed or underperformed

A description of investment management services previously and/or currently delivered to other charitable organizations of a similar size inclusive of:

- Experience working with charitable organizations in Canada and specifically in Ontario
- What it is about charities that makes them unique and how your firm supports charities in general

Three references to clients within the past three years, one of which must be a charitable or nonprofit organization

An example investment policy based on the early stage of Lumenus’ investment activities

An example 12-month Board work plan to assist the Board with appropriate oversight practices and 12-month finance work plan to assist the CAO with appropriate operational and compliance oversight

A fee schedule inclusive of all and every fee and/or charge associated with transaction creation, ongoing management of the Lumenus account and/or additional fees and the circumstances under which they may be assessed

Interested suppliers are welcome to provide additional information in supporting schedules to those noted above if needed.

Evaluation Criteria

All proposals will be evaluated based on the following criteria:
Evaluation DomainWeight

Professional qualifications, background, process, investment team, socially responsible investing, return strategy & historical performance

30%

Investment management services previously or currently delivered

10%

Example investment policy based on the early state of Lumenus’ investment activities

Example 12-month work plan for Board and CAO to assist with appropriate governance, operational & compliance oversight

Fee schedule inclusive of all and every fee and/or charge associated with transaction creation, ongoing management of the Lumenus account and/or additional fees and the circumstances under which they may be assessed

10%

Quality of proposal in meeting the scope of requirements

10%

Degree of fit with Lumenus and willingness to contribute our mission and vision

20%
Please note that:

Submissions that do not meet the evaluation criteria will be disqualified
In order to be fair to all applications, late submissions and phone calls or emails to discuss application status will not be accepted
Only short-listed applicants will be contacted for an interview/ presentation.

Terms and Conditions

1. Delivery of Proposals

Please send an electronic copy via email to auddin@lumenus.ca by Friday October 8, 2021 by 5:00pm

1. Proposal Time Limit

Each bidding organization shall commit that the proposal is valid and accurate for 120 days from the closing date of Friday October 8, 2021.

1. Selection Process

Lumenus will review all applications but reserves the right to accept or reject any proposals. The award of an organization will be based on a review of proposals against all evaluation criteria and will not necessarily be awarded based on the lowest price offered but rather the overall assessment of value for money.
Each applicant will be provided with fair access to information, as requested by email or in writing (see Key Dates). Additional written materials, to ascertain the qualification or suitability of an applicant may be requested.

1. Inquiries

Applicants should email (please do not telephone) all questions to:
auddin@lumenus.ca

1. Liability Insurance

All organizations are requested to warrant that the organization does not currently have any outstanding liability claims that may negatively impact on the future health of the organization’s services. Additionally, the organization must maintain sufficient liability insurance relevant for the nature and breadth of the services provided to Lumenus. Evidence of liability insurance will be requested and must be provided.

1. Conflict of Interest

Applicants responding to the RFP must not have any personal or business interests that would present an actual, potential or apparent conflict of interest with the performance of the contract to be awarded. Should the potential perception of a conflict of interest exist, this must be explicitly declared in writing as soon as knowledge of such a conflict may arise.

1. Distribution of the Invitation for Proposals

This invitation has been released by:

Publication on Lumenus’ website and social media sites
By invitation to vendors who may be qualified or suitable based on Lumenus’ knowledge and experience

1. Expense Claims and Reimbursement Rules

In accordance with the Government of Ontario’s Broader Public Sector Accountability Act and its associated directives, Lumenus will not pay or reimburse an applicant for any hospitality, incidental or food expenses, including but not limited to expenses associated with meals, snacks, beverages, gratuities, laundry or dry cleaning, valet services, dependent care, home management and personal telephone calls. Reimbursement for allowable expenses is allowable only when the contract specifically provides for it and Lumenus’ associated approval and reimbursement policies are appropriately complied with.

1. External Factors

Lumenus reserves the right to withdraw this RFP or terminate the resulting contract within the terms of the contract without penalty.

1. RFP Dispute Resolution Process and Procedures

Unsuccessful applicants may request a debriefing within 60 calendar days following the date of the contract award notification. The request should be submitted to the Procurement Officer. The Procurement Officer will respond to the vendor and arrange an applicant debriefing within 10 business days of receiving the request.
When conducting vendor debriefings, Lumenus will:

Confirm with each applicant the date, time and location of the debriefing session in writing
Conduct separate debriefings with each applicant, where requested
Not disclose information concerning other applicants, other than the names and address of the applicants who participated in the competitive process
Not answer questions unrelated to the competitive process
Provide a general overview of the evaluation process set out in the procurement document
Discuss strengths and weaknesses of the applicant’s submission in relation to specific evaluation criteria
Provide suggestions on how the applicant may improve future submissions
Address questions and issues raised by the applicant in relation to their submission

Subsequent to the applicant debriefing process, if an applicant wishes to dispute the outcome of the RFP process, the aggrieved party is to file the bid protest in writing to the CEO, by registered mail within 10 business days of the debriefing meeting. A protest in writing shall include:

The name and address of the complainant
Identification of the RFP process being protested
The date of the debriefing and the name of the procurement officer who conducted the debriefing
Detailed and factual statements of grounds for protest
The complainant’s arguments and supporting documentation and
The complainant’s requested remedy

The CEO will respond, in writing, to the complainant within 10 business days of receipt of the protest. The final decision on the issue will come from the CEO, in consultation with appropriate Lumenus senior management and Board of Directors involvement and shall be considered final and conclusive.

1. Information Disclosure

Any confidential information supplied to Lumenus may be disclosed by Lumenus where it is obliged to do so under the Freedom of Information and Protection of Privacy Act (FIPPA), by order of a court or tribunal or otherwise required by law.

Key Dates and Contact Information

RFP Issue DateFriday September 17, 2021
Bidders’ questions deadlineFriday September 24, 2021
Response to bidder’s questions dateWednesday September 29, 2021
Deadline for electronic proposal submissionsFriday October 8, 2021 by 5:00PM EST
ContactArif Uddin
Procurement Officer
Lumenus Community Services
1126 Finch Ave West, Unit 16
Toronto ON M3J 3J6
auddin@lumenus.ca

Dates

Publication

2021/09/17 07:29:32 PM EDT

Bid Intent

Not Available

Question Acceptance Deadline

2021/09/24 05:00:00 PM EDT

Closing Date

2021/10/08 05:00:00 PM EDT

Contact Information

Rachael Clarke

416 744 7650 ext. 4226

auddin@lumenus.ca

Bid Submission Process

Bid Submission Type

Electronic Bid Submission

Pricing

In attached document

Bid Documents List

Item Name	Description	Mandatory	Limited to 1 file
Bid Documents	Documents defining the proposal	Yes	No
No entries

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