THE NETHERLANDS - Stichting Pensioenfonds voor de Woningcorporaties (SPW), the ASW pension fund, has appointed Mn Services to manage an international real estate investment mandate worth e50m.
ASW is the e2.8bn Dutch industry wide pension fund for the housing corporation sector.
This product provides SPW access to a selection of non-listed real estate funds in different countries, regions and sectors worldwide, said Mn Services in a statement.
ASW has a strategic allocation of 10% to real estate, through which it invests in both quoted and non-quoted property funds. ASW's total assets are valued at e2.8bn, confirmed the fund.
Mn Services administers pension schemes and insurances and is an investment manager for pension funds. International real estate accounts for around e1.6bn of the total assets under management (e22bn).
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