Ministry of Industry and Trade of the Czech Republ : Seed Fund already knows its depository

Published: 21.1.2013

Author: Veronika Forejtová, press spokeswoman [e-mail]

The UniCreditBank Czech Republic a.s. will be appointed a depository, the implementation of the Seed Fund pilot project progressed to the next stage.

Seed Fund already knows its depository.

ONE OF KEY PUBLIC TENDERS FOR SERVICE PROVIDER OF THE CZECH DEVELOPMENT CLOSED END INVESTMENT FUND HAS BEEN COMPLETED. THE UNICREDITBANK CZECH REPUBLIC A.S. WILL BE APPOINTED A DEPOSITORY, THE IMPLEMENTATION OF THE FUND SEED PILOT PROJECT PROGRESSED TO THE NEXT STAGE.

The Ministry of Industry and Trade announced an open tender for a supplier of services for the state-owned closed end investment fund in September 2012. Proposals were submitted by three bidders: the Czech Savings Bank, A.S., CSOB, A.S. and UniCreditBank Czech Republic, A.S.

The evaluation committee assessed in accordance with Act No. 137/2006 on public procurement all attributes of the tenders submitted and decided on selecting the best bid. The basic evaluation criterion laid down by the contracting authority was economic advantageousness of the offer, which in this case, was the price for providing depository services. None of the bidders filed within the statutory time limit objections against the decision on selecting the best offer according to § 110 paragraph 4. The selection process is therefore completed.

"We are pleased that three reputable entities, which currently perform depository services for a number of open end and closed end investment funds, showed interest in supplying the depositary services," said Mr Petr Oèko, the Director of EU Funds on behalf of the MIT. "The tenders submitted were processed with a high degree of expertise that ensures the quality of services in managing investments in the implementation phase of the Seed Fund" said Mr Oèko.

In early January, the MIT launched the evaluation process of bids submitted for the second key procurement related to the functioning of the Seed Fund, which is a competition for the maintenance provider of the Czech Development closed-end investment fund; A.S. Tenders were submitted by 4 bidders. "Given that materials are fairly comprehensive, and possibly, we shall need some additional information or specific explanations from the bidders, we expect that the selection process for the maintenance provider will be completed during February. Further information shall be made public statutory time limits with regard to the preservation of the principle of equal access treatment of all bidders" added Mr Oèko.