Procurement of financial management services for the city of Kuhmo
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Description & Project Overview
Procurement of financial management services of the city of Kuhmo The initial capital of the assets included in the investment activities of the city of Kuhmo originates from 2002, when the city established a development fund on 21.2.2002 by the council's decision § 18, the initial capital of which was 12,500,000.00 euros. The purpose of the fund is to promote Kuhmo's business life, attractiveness and to ensure financing of significant basic service investments in accordance with the Kuhmo strategy. Investment assets have developed as a result of investment returns. The amount of funds changes depending on how much the annual income financing is sufficient to finance operating expenses and investments. Approximately €26 million of the city's liquid assets as of September 30, 2026 are estimated to be investable for the long term. The city tenders the investment assets in question in two (2) separate parts of the procurement, where the object of each part of the procurement is basically the asset management of the full power of attorney of a securities portfolio of around €13 M, including equity and interest investments, in accordance with the principles and restrictions defined in the city's investment policy. Based on the procurement, the city will enter into two (2) separate procurement contracts