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Buma/Sterma outsources

The Amstelveen based Dfl500m (e227m) Buma and Sterma Dutch performance and mechanical copyright foundations have appointed ING and Kempen Capital Management for European balanced briefs comprising eurobonds and European equities of Dfl333m and Dfl167m respectively.
Palladyne has also picked up a brief to run derivative strategies for the foundation.
Ruud Hopstakan, chief financial officer at Buma/Sterma, explains: “We are outsourcing the assets due to the retirement of our in-house manager, and we decided investment management was not one of our core competences. The mandates were chosen with risk diversification in mind, and the managers selected were those who impressed us most at the beauty parade.”
Amsterdam-based Willshire was consultant to the tender.

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