NETHERLANDS - Hans Schlukebir, head of fixed income at the €71.5bn Dutch health care sector fund PGGM, is to leave on March 1 after two years in charge of the department.

He’s joining Holland Capital Management, the Zeist-based fund said. Schlukebir will join former MN Services’ European head of fixed income Victor Verberk, who starts at Holland Capital in March.

Holland Capital is the new independent arm of Irish-based AC Capital, which focuses on absolute return fixed income.

Bob Rädecker would take over from Schlukebir on an interim basis until a successor is appointed, “most likely from within the organisation”, said PGGM.

The fund’s €21.5bn fixed income portfolio returned 4.5% in 2005 amid an overall portfolio return of 16.3%.

“We very much regret Hans Schlukebir’s departure. But at the same time it’s proof of the high quality of people that PGGM employs, and that’s something that other employers value,” said Piet Roelandt, director of fixed income, treasury and commodities.

“Hans played an important role in further expanding our fixed-income portfolio and in improving our investment processes.”

Schlukebir’s departure is the latest in a series of management changes at the fund. In November last year Leo Lueb took over from Marjolein Sol as director of equities.

Last month it emerged that Peter de Haas, senior portfolio strategist for real estate, was to join Protego Real Estate Investors.

Earlier, structured investments director Jan van der Vlist and real estate senior portfolio manager Anneke van de Puttelaar left for NIB Capital.