Mn Services, the Dutch asset manager which runs the metalworking and mechanical engineering sector pension fund, has won its second external investment client since looking for business three years ago.

The €50m ($59.6m) property mandate has been awarded by ASW, the pension fund of social housing sector. ASW said Mn Services gave the fund access to a selection of non-listed real estate funds in different countries, regions and sectors globally. Mn Services has €22bn in assets and started offering its fund management services to pension funds outside its own sector at the end of 2001.