NETHERLANDS - Mn Services has been appointed to act as the fiduciary asset manager and strategic adviser to Pensioenfonds Productschappen, the €365m pension fund for the Dutch commodity boards.

Under the terms of the deal, Mn will manage both the assets and advise on the asset balance and investment policy.

Nico Dijkhuizen, executive secretary of the pension fund, said following a comprehensive selection process, Mn Services was selected "on the basis of its corporate culture, high-quality working procedures and many years of experience as a fiduciary manager".

The PfProductschappen was created in 1948 for employees of the Dutch commodity boards, which included arable farming and now covers 3000 deferred participants from companies in the following markets: animal feed, drinks, grain, seed and pulses, margarine, fats and oils, horticulture, livestock, meat, eggs, fish, wine and dairy.

Mn Services is already the asset manager for the €280m Unisys pension fund, and will handle both the assets and administration of the €3.2bn occupational pension fund for the Dutch merchant Navy (Bedrijfspensioenfonds voor de Koopvaardij) from 2010, as well as those managed for the industry-wide metal electrical industry pension fund (PME).

The firm has grown from €35bn in assets under management to €56bn since 2007.

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