UPDATE 2-Dutch court orders management policy probe at ASMI

* Investors asked for inquiry after foundation got a stake

* Investors have been pushing for CEO, strategy change

* ASMI shares close up 1.5 pct (Adds comments by company, investor)

AMSTERDAM, Aug 5 (Reuters) - A Dutch court ordered an investigation at semiconductor equipment maker ASM International (ASMI.AS) (ASMI.O) on Wednesday after investors objected to steps taken by the company last year to preserve its independence.

Judge Huub Willems at the Dutch commercial court said in a ruling there was a valid reason to question ASMI's management policy in the last few years.

British pension fund manager Hermes, which owns 9.98 percent of ASMI, asked for an investigation last year after a foundation set up to protect ASMI's independence obtained almost 30 percent of ASMI's share capital.

"(Hermes) believes the implementation of the court's decision will be an important step towards restoring investor confidence and trusts that the implementation will be done in a way that is supportive of the effective running of the business," the firm said in a statement.

ASMI, in its own statement, acknowledged the court's ruling but did not comment on it or its implications.

Hermes has also said that Chief Executive Chuck del Prado, son of ASMI founder Arthur del Prado, was not the right choice to turn around losses at ASMI's front-end unit, which makes machines used in chip production.

Investors' dissatisfaction is fuelled by ASMI's valuation, which is less than the 53 percent stake it has in Hong Kong-listed ASM Pacific Technology Ltd (0522.HK), which makes machines for chip assembly and packing.

In the past year ASMI has announced several steps to reorganise its front end-unit, such as selling some operations, cutting jobs and centralising most front-end operations in Singapore. [ID:nLK713590]

Shares in ASMI closed up 1.5 percent at 12.515 euros on Wednesday, down slightly from before the ruling when they traded at around 12.57 euros. (Reporting by Ingrid Wolfslag; Writing by Gilbert Kreijger and Ben Berkowitz; Editing by Greg Mahlich)